Procaccianti Companies (Est. 1958) is one of the most respected privately held real estate investment and services firms in the United States. Our successful track record spans over six decades and our experience includes thousands of transactions representing tens of billions of diversified real estate investments. We are a vertically integrated alternative asset manager with a broad national platform having owned, developed, managed or financed investment real estate in more than 300 cities across 42 states coast to coast. We deploy a time-tested approach that seeks to acquire all types of real estate that present attractive yields and/or would benefit significantly from our fully integrated platform of operating companies.

Procaccianti is seeking an experienced REIT Accountant from the hospitality sector to join the team.

Overview:

As a REIT (Real Estate Investment Trust) Accountant specializing in the hospitality sector, your role revolves around managing financial transactions, reporting, and compliance specific to real estate investment trusts within the hospitality industry. You will work closely with property managers, finance teams, and external auditors to ensure accurate financial records and adherence to regulatory requirements.

Responsibilities:

Financial Reporting: Prepare draft 10-Q and 10-K (utilize Toppan Merrill Bridge software), prepare and analyze journal entries, financial statements, including balance sheets, income statements, and cash flow statements, for hospitality properties within the REIT portfolio, and ensure compliance with Generally Accepted Accounting Principles (GAAP) and REIT regulations in financial reporting.
Property Accounting: Oversee property-level accounting activities, for purposes of consolidation at the upper tier REIT entities, and monitor property performance metrics such as revenue per available room (RevPAR), occupancy rates, and average daily rate (ADR).
Tax Compliance: Collaborate with tax professionals to ensure accurate and timely filing of REIT tax returns, and stay updated on tax laws and regulations affecting REITs in the hospitality sector.
Audit Support: Support external auditors during financial statement audits and quarterly reviews, prepare audit schedules and provide necessary documentation to auditors.
Regulatory Compliance: Stay abreast of SEC (Securities and Exchange Commission) regulations and REIT guidelines applicable to the hospitality industry, ensure compliance with REIT qualification tests and distribution requirements.
Facilitate and prepare Annual Report as well as annual proxy reports.
Facilitate workpapers for annual NAV report and prepare consolidated PCF financials and other requested schedules (Yardi/M3).
Compile Board of Directors financial presentations on a quarterly basis.
Coordinate the Disclosure Committee and TB review meetings on a quarterly basis.

Requirements:

Education: Bachelor's degree in Accounting, Finance, or related field. CPA (Certified Public Accountant) designation preferred.
Experience: 4+ years of experience working for a public accounting or real estate firm/real estate fund, familiarity with REIT accounting principles and regulations, and strong property and real estate accounting knowledge.
Technical Skills: Proficiency in accounting software (e.g., SAP, Oracle), Microsoft Excel, and financial modeling. Experience with Yardi is a plus. Knowledge of real estate valuation methodologies and financial analysis techniques.
Communication: Strong verbal and written communication skills for effective interaction with internal and external stakeholders, and ability to translate complex financial concepts into clear and understandable language.
Analytical Skills: Excellent analytical and problem-solving abilities to interpret financial data and identify trends, and attention to detail and accuracy in financial reporting and analysis.
Team Collaboration: Ability to work collaboratively in a team environment and effectively communicate with cross-functional teams, strong interpersonal skills and ability to build positive working relationships.
Regulatory Awareness: Knowledge of SEC regulations, REIT tax rules, and accounting standards applicable to the hospitality industry, and commitment to maintaining compliance with regulatory requirements.
Adaptability: Flexibility to adapt to changing priorities and deadlines in a dynamic real estate investment environment, and willingness to learn and stay updated on industry trends and best practices.

Working Conditions & Physical Effort:

Physical work is a primary part of many of our hotel and resort jobs. Physical requirements include extended standing and walking, climbing, bending, reaching, pulling, pushing, kneeling, and lifting to 50 lbs.

Benefits:

Health, Dental and Vision Insurances
Disability Insurances
Supplemental Life Insurances
Identity Theft Protection
Flexible Spending Accounts
401(k) Retirement Plan with Company Match
Paid Time Off, Vacation and Holidays
Employee Assistance Program
AMAZING HOTEL DISCOUNTS to any property in the TPG portfolio and MUCH MORE!

EEO/VET/DISABLED

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REIT Accountant