Fund Accountant; Hybrid

Fund Accountant (Hybrid)

Chicago, IL

Position Summary

We are seeking a highly skilled accounting and finance professional to oversee joint venture (JV) financial operations for a large-scale real estate investment platform. This role will manage JV-level budgeting, forecasting, cash management, capital accounts, debt compliance, investor reporting, and acquisition/disposition accounting. The ideal candidate will have deep expertise in real estate accounting, strong technical GAAP knowledge, and experience managing complex JV structures.

A CPA designation is highly preferred.

This role is hybrid, with one day per week remote, following an interim period.

Budgeting, Planning & Forecasting (JV-Level)

• Prepare Annual Business Plan, Operating Budget, and Capital Budget for investor review and approval.
• Consolidate property-level budgets into JV-level budgets and perform variance analysis and reforecasting.

Cash Management, Treasury & Capital Calls

• Prepare capital call calculations and issue notices per JV agreement.
• Manage JV, Hold Co, and SPE bank accounts, cash flow forecasting, and liquidity planning.
• Participate in distribution waterfall calculations and promote mechanics.

Property-Level Oversight

• Review property-level accounting prepared by third-party managers for GAAP and investor compliance.
• Coordinate on cash forecasting, budget adherence, TI/LC accounting, and reimbursement processes.

Capital Accounts & JV Economics

• Maintain capital accounts per GAAP, tax rules, and JV agreement.
• Track investment tranches, capital balances, preferred returns, and promote tiers.

Debt Compliance & Lender Reporting

• Participate in covenant testing, lender reporting, and draw requests.
• Monitor escrow accounts and ensure compliance with financing agreements.

Investor Reporting & Performance Metrics

• Prepare quarterly investor reporting packages, including financial statements, variance analysis, capital account statements, and JV performance metrics (IRR, MOIC, equity multiples).

Acquisition & Disposition Accounting

• Support financial integration of new acquisitions, including opening balance sheets and bank setups.
• Manage final accounting at disposition, including sale allocations, reserve releases, and promote crystallization.

• Bachelor's degree in Accounting or Finance; CPA highly preferred.
• 5-7 years of progressive accounting experience, with at least 3 years in real estate or private equity JV structures.
• Strong technical knowledge of GAAP and JV accounting principles.
• Experience with budgeting, forecasting, and financial modeling.
• Proficiency in Yardi, MRI, Kardin, or similar real estate systems.
• Excellent analytical, organizational, and communication skills.
• Ability to manage multiple priorities in a fast-paced environment.

• Familiarity with REIT compliance and regulatory requirements.
• Experience with debt covenant monitoring and lender reporting.
• Advanced Excel and financial modeling capabilities.
• Exposure to investor reporting and performance metrics (IRR, MOIC, equity multiples).
• Strong understanding of JV agreements and promote structures.

$125,000 - $135,000 USD