Accounting Manager

PRP Real Assets is a national real estate investment management and development firm with over $6 billion in investments across 60+ assets since our founding in 2005. Located in Washington, D.C., PRP focuses on three strategic verticals:
Mission-Critical Assets, Multifamily, and Special Situations. Our disciplined, research-driven approach and proven ability to navigate market cycles have established us as a trusted partner to institutional investors, family offices, and financial institutions.

Our Mission Critical Net Lease platform targets investment‑grade and near‑investment‑grade tenants occupying mission‑critical facilities under long‑term net lease structures. PRP is currently raising a new Mission Critical NNN fund of nearly $1 billion, backed by institutional investors, and recently completed registration with the SEC as a registered investment adviser.

We are seeking an experienced Accounting Manager to join our growing finance team and play a central role in building the accounting and reporting infrastructure for our new Mission Critical NNN fund. This is a hands‑on leadership position reporting to the Controller, with direct supervisory responsibility over 1–2 staff accountants.

The ideal candidate thrives in an entrepreneurial environment, brings deep commercial real estate fund accounting experience, and is energized by the opportunity to help build institutional‑quality processes from the ground up. While primarily focused on the Mission Critical NNN vertical, this role will also provide cross‑vertical support to PRP’s Multifamily and Special Situations platforms as needed.

• Maintain capital account records, process capital calls and distributions, and prepare investor allocation schedules for the Mission Critical NNN fund
• Calculate and model distribution waterfalls in accordance with fund partnership agreements, including preferred returns, catch‑up provisions, and promote structures
• Support quarterly and annual investor reporting packages with accurate NAV calculations, fair value marks, and fund‑level financial statements reflecting unrealized gain/loss from fair value adjustments

• Oversee property‑level general ledgers for net lease assets, including tenant reimbursements, CAM reconciliations, and lease‑related accounting under ASC 842
• Manage monthly close processes for fund properties on a tax/cost basis, ensuring accurate revenue recognition and expense tracking, and depreciation schedules across the NNN portfolio, and coordinate the roll‑up to fund‑level fair value reporting
• Coordinate with asset management and property management teams on operating budgets, variance analysis, and reforecasting

• Prepare consolidated fund‑level financial statements on a fair value basis in accordance with U.S. GAAP (ASC 946/ ASC 820), including balance sheets, income statements, and cash flow statements; maintain property‑level books on a tax/cost basis and post fair‑value adjustments entries at the fund level
• Support external audit processes, including preparation of audit schedules, PBC lists, and direct auditor coordination
• Assist with institutional LP due diligence requests and lender reporting requirements

• Supervise and mentor 1–2 staff accountants, providing training on fund accounting processes, Yardi workflows, and internal controls
• Design and implement scalable accounting policies, procedures, and internal controls appropriate for a newly SEC‑registered investment adviser
• Provide cross‑vertical accounting support as needed for PRP’s Multifamily and Special Situations platforms

• Bachelor’s degree in Accounting, Finance, or related field
• 5–8+ years of progressive accounting experience in commercial real estate, with significant exposure to fund/partnership accounting
• Demonstrated experience with capital account maintenance, waterfall calculations, and investor allocations in a private fund structure
• Strong working knowledge of U.S. GAAP as applied to real estate investment vehicles, including ASC 820 (Fair Value Measurement),…