Property Accountant

Description

At NewMark Merrill, our unwavering commitment to "Doing Retail Better" has been the cornerstone of our success over the past 40 years. Through shifting landscapes, economic fluctuations, and industry disruptions, we remain steadfast in our dedication to connecting with communities, cultivating authentic environments, and empowering our tenants to thrive. With offices in Denver, Los Angeles, Sacramento, San Diego, and Chicago, NewMark Merrill proudly owns and manages over 12 million square feet of retail assets, comprised of over 2,000 tenants across 95 communities.

As a boutique-sized firm, we offer the best of both worlds: the efficiency of large portfolio economies of scale combined with the agility of swift decision-making and personalized attention from senior leadership. We are more than just landlords; we are partners in success. By fostering close relationships with communities, engaging directly with our merchants and shoppers, and investing in innovative technology and data collection, we provide invaluable insights that empower our tenants to thrive in our centers.

By deeply understanding the communities we serve and leveraging world-class technology, we maximize value and curate exceptional experiences that transform visitors into loyal customers. Our commitment to excellence extends beyond transactions; it's about creating lasting impact and fostering sustainable growth.

Above all, it's our people who propel NewMark Merrill to new heights of success and innovation. They are ambitious and talented individuals that bring their passion and expertise to our daily endeavors. We promote a welcoming team-oriented environment where we lead with innovation, address challenges head-on, encourage out-of-the-box thinking and celebrate our successes.

At NewMark Merrill we strive to elevate the retail experience, one community at a time. We invite you to join us on this journey as we continue to redefine the possibilities of retail.

Go to www.newmarkmerrill.com to learn more about the company and its culture.

Position Summary

This role is responsible for the full-cycle accounting and financial reporting of a portfolio of 8–10 retail properties, partnering closely with property management to ensure accurate reporting, timely financials, and effective day-to-day financial operations.

Position Responsibilities

• Prepare timely and accurate monthly and annual financial statements for assigned properties.
• Review general ledgers for all assigned properties to ensure accuracy of accounts receivable, accounts payable, and journal entries.
• Prepare and review supporting schedules to ensure accuracy and completeness of monthly financial reporting.
• Conduct balance sheet reconciliations and monthly bank reconciliations.
• Analyze and prepare annual CAM reconciliations and respond to tenant inquiries and disputes related to CAM charges.
• Review leases to ensure accurate tenant billing and make necessary adjustments.
• Perform calculations for CPI and percentage rent.
• Collaborate with property managers to support annual budgets and calculate CAM estimates for tenants.
• Handle lender reserve draws for reimbursement related to tenant improvements, leasing commissions, and capital expenditures.
• Serve as the primary accounting contact for assigned properties, working closely with property managers to ensure accurate financial reporting and issue resolution.

Requirements

• Bachelor’s degree in Accounting.
• 3–5 years of property accounting experience, including CAM reconciliations.
• Strong understanding of general ledger accounting and financial statement preparation.
• Ability to manage multiple properties and deadlines in a fast-paced environment.
• Strong Excel skills, including pivot tables and lookups.
• Excellent verbal and written communication skills.
• Experience with MRI or Yardi accounting software is preferred.
• Experience in commercial or retail real estate accounting is preferred.
• Collaborative, adaptable, and capable of performing well under pressure.