Director of Accounting - Industrial Properties
Lightstone
South Lakewood, NJ
Salary Estimate: $200,000.00 - $224,999.00
Employment Type: Full Time
Work Place: Office
Experience Required: 10+ to 15 years
Education Required: 4 Year College
Benefits
Job Description
COMPANY OVERVIEW:
Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone’s over $9 billion portfolio currently includes over 13 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.
POSITION OVERVIEW:
Lightstone currently owns and manages a large portfolio of properties across multiple asset classes. The Director of Accounting – Industrial Properties is responsible for overseeing all accounting and reporting related aspects of a portfolio of commercial properties, principally consisting of industrial properties located throughout the United States. Significant prior accounting experience in a managerial role with industrial properties, attention to detail and good communication skills are amongst the required qualifications.
This position is full time and exempt. The Director of Accounting – Industrial Properties will be based at the Company’s Lakewood, New Jersey office. This position may require occasional travel and reports to the Company’s Senior Vice President & Chief Accounting Officer.
ESSENTIAL FUNCTIONS:
The Director of Accounting – Industrial Properties will primarily oversee a portfolio of industrial real estate properties and is responsible for the following functions:
- Manage day-to-day activities of accounting staff. Instruct, train and develop personnel.
- Support Asset Management team in analyzing lease terms.
- Participate in the preparation/review of lease abstracts for tenant leases.
- Review and approve set-up of all new leases and amendments/renewals to existing leases.
- Assist in “audits” of leases to ensure accurate billing.
- Oversee and assist in the maintenance of rent rolls and forecasting future income.
- Track and monitor lease expirations and communicate status with Asset Management team.
- Participate in the review/preparation of billings for reimbursable expenses and related year-end “true ups.”
- Support Asset Management team in budgeting and tracking of tenant refurbishments and improvements, including monitoring deadlines and any landlord obligations for such items.
- Participate in the review/preparation of annual budgets and periodic forecasts.
- Participate in quarterly reviews and annual audits as required.
- Review, evaluate and document internal controls over processing of accounting transactions.
- Participate in the processing of real estate tax payments and sales & use tax returns and oversee regulatory agency audits.
- Oversee and assist with providing information for all U.S. Federal and State income tax filings.
- Support and liaise with other Accounting personnel, Property Managers, Asset Managers, Joint Venture Partners and Executive team.
- Other duties and responsibilities, including special projects as assigned.
QUALIFICATIONS:
- Minimum of 7 years of progressive experience in commercial property accounting, including industrial properties.
- Bachelor degree or equivalent in accounting, finance, business or similar field.
- Public accounting experience and/or CPA designation preferred.
- Substantial managerial/supervisory experience.
- Excellent computer skills, including advanced proficiency in MS Office applications, particularly Excel.
- Extensive experience with MRI, Yardi and/or other real estate accounting software systems.
- Experience with reading and abstracting commercial lease documents.
- Well-organized with the ability to excel in a dynamic work environment.
- Strong work ethic with the ability to work independently and manage a team.
- Ability to multi-task and manage a challenging workload while consistently meeting deadlines.
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