Who We Are
Revantage provides real estate services to Blackstone - the world’s largest alternative asset manager. Blackstone’s real estate portfolio includes industrial & logistics, residential, office, hospitality and retail properties in North America, Europe and Asia Pacific. Revantage’s global reach supports Blackstone real estate portfolio companies with best-in-class talent and corporate services - from legal to technology, to people and culture. Some of the key services include legal, compliance, risk management, due diligence, valuations & portfolio reporting services, portfolio management, transaction execution support, accounting, tax, treasury, insurance, technology, property management, etc. With presence across US, UK, Luxembourg, Netherlands, Singapore, India and Australia, Revantage supports Blackstone real estate portfolio companies and its partners across 50 countries.
Job Summary:
The Operating Property Accountant, US owns the month-end close and financial reporting for an assigned portfolio of US properties, including preparation of financial statements and maintenance of accurate accounting records. This role works closely with property management and onshore accounting teams to ensure accurate, timely financial reporting and handles a wide range of recurring and ad hoc accounting functions. The ideal candidate brings solid accounting fundamentals, attention to detail, and the ability to manage multiple properties in a fast-paced environment. This is an exciting opportunity to contribute to the financial performance of a growing portfolio with a leading organization in the office real estate sector.
Key Accountabilities:
Month-End Close & Financial Reporting
Execute the month-end close for the assigned portfolio, ensuring all journal entries, accruals, and reconciliations are completed accurately and within established close deadlines
Prepare monthly and quarterly financial statements for multiple properties within an assigned portfolio, in accordance with company accounting policies and procedures
Generate standard, recurring, and non-recurring journal entries related to the portfolio, resolving questions arising from unusual variances or fluctuations
Perform monthly Common Area Maintenance (CAM) reconciliations and recovery analysis, identifying under- or over-recovery positions and posting adjusting entries
Coordinate the month-end expense accrual process for the assigned portfolio, working with property managers to obtain and review accrual estimates for reasonableness, and posting the related entries within the monthly deadline
Maintain the close calendar and checklist for the assigned portfolio, confirming all tasks are completed and supported within the close timeline
Invoice Processing, Support, Reconciliations and Reporting
Review special billings for coding accuracy and completeness of supporting documentation, including: CAM billings
Property tax billings
Insurance billings
Manual billings
Reconcile balance sheet accounts monthly, researching and resolving reconciling items in a timely manner and preparing variance analyses
Review income statements for the assigned portfolio to detect potential risks and issues
Summarize the drivers of financial statement fluctuations by major category when multiple factors may be contributing, including: Rental Revenue
Recoveries
Net Operating Income
Non-Recoverable Expense
Bad Debt
Review tenant ledgers and aged receivables, and record bad debt expense for the assigned portfolio
Cross-Functional Partnership
Work with the BMR corporate, tax, treasury, and lease administration teams to support information requests and cross-functional reporting needs
Partner with property management teams on expense accruals, CAM reconciliations, and tenant audit requests for the assigned portfolio
Coordinate with the onshore accounting team on close deliverables, escalating issues and open items in a timely manner
Support process improvement and documentation efforts,…