About the Company: Pacific Urban Residential (‘PUR’) is an industry leading multifamily investment firm and pension fund manager. Headquartered in Northern California’s innovative Silicon Valley, PUR is focused exclusively on the multifamily rental space. The firm has successfully deployed well-timed strategies to the benefit of its institutional partners and stakeholders throughout the United States.
Since its inception in 1998, PUR has completed over $7 billion in apartment transactions on behalf of its own account and those of its strategic institutional partners. Today, PUR has six offices, with over seventy professionals and an owned apartment portfolio in excess of $5 billion.
Pacific Urban Residential investment strategies include the acquisition and renovation of 10 - 30 year old “vintage” communities, as well as the acquisition of multifamily investments for current cash flow and long-term appreciation.
Pacific Urban Residential is an affiliate of The Marcus and Millichap Companies. More information can be found at www.purapts.com.
Job Description: We are seeking a Senior Accountant with 3+ years of experience in real estate or investment management whose strengths lie in financial analysis and reporting. This position is located in the Palo Alto corporate headquarters and will be responsible for the financial review and reporting for a portfolio of multiple Business Unit assets and will also assist with cash flow projections, IRR calculations and reporting to lenders and investors. As a member of the Finance & Analytics team, you will interact with senior management and provide key analytic tools for tracking the performance of the Business Unit portfolio of assets. This position reports to an Accounting Manager.
Duties include, but are not limited to, maintaining, and analyzing accounting records, reviewing, and approving monthly and quarterly financial reports, preparing interim and year-end audit work papers, submitting lender compliance reports, as well as other financial reports to management and/or owners.
Primary Duties & Responsibilities:
Review and approve monthly financial statements prepared by third party property management companies, which function may include reconciling errors, proposing journal entries, and reviewing and researching variance analyses
Assist in the preparation of the annual property budgets for the assigned portfolio of properties
Prepare and submit monthly/quarterly/annual financial and compliance reports to lenders and partners, including preparation of loan draw requests and equity contribution and distribution calculations, summaries, and notices
Prepare and analyze quarterly asset summaries for all wholly owned assets and core apartment portfolio in order to help determine key quarterly valuations for each property
Calculate monthly equity contributions made by MMC to each property in order to determine long-term cost of equity and determine how it compares to the IC Report
Prepare interim and year-end tax compliance, audit and/or tax work papers and assist in the Q&A with external auditors.
Provide accurate and timely financial information to other internal departments and under specific deadlines
Attend and participate in cross-functional Business Unit team meetings with Portfolio Operations
Provide regular reporting to Portfolio Operations regarding revenue and expense trends and metrics, as well as analyze and benchmark performance of assets within the respective Business Unit
May perform other duties as required
Principals only; no recruiters please.
PUR would like to thank you for applying; for efficiency in evaluating candidates, please provide information to the contact noted herein and do not contact staff members, directly.
Due to the volume of responses received, only qualified candidates will receive a response.
Knowledge & Skills:
Ability to prioritize and handle multiple tasks with flexibility to adapt and adjust on an ad hoc basis, as needed
Excellent organizational and communication skills, both written and oral
Proficiency with Microsoft Excel and Microsoft Word
Experience in Yardi software is preferred, but not required
Desire to grow professionally and personally
Team player with a collaborative approach
Qualifications & Education:
Bachelor’s Degree in Accounting or Finance
Certified Public Accountant
3+ years of strong, general, full-cycle accounting experience, preferably in real estate
Fund management or financial services experience a plus
Ideal candidate will be familiar with multi-family industry
Marcus & Millichap Company ('MMC') is a privately held organization, based in Palo Alto, California, with a diverse family of operating companies under its umbrella. Each MMC company is a distinct fusion of real estate specialization and innovation powered by a culture of loyalty that permeates throughout. MMC’s operating companies are in the real estate service, real estate investment and real estate development spaces. Our companies have revolutionized numerous real estate practices and set the standard of success as a result of an unwavering focus on long-term, sustainable growth, as well as a unique blending of entrepreneurial drive with institutional discipline.
Our Operating Companies:
- Hanover Real Estate Investors: Our niche is providing joint venture equity capital to local and national developers and operators of real estate to facilitate the acquisition, reposition and/or development of multi-family and single tenant properties.
- MMC Technology Ventures (‘MMCT’): We primarily invest in post-Series A rounds, and we are committed to helping early-stage companies grow through utilizing their products internally and introducing entrepreneurs to MMCT’s vast network ...of real estate professionals.
- Meridian: We are a full-service commercial developer and provider of real estate services. Our team of experienced and talented real estate professionals provide comprehensive commercial building solutions and leads the way in the development of modern building facilities.
- Pacific Urban Residential (‘PUR’): We are an industry leading multi-family investment firm and pension fund manager. We are focused exclusively on the multi-family rental space.
- SummerHill Apartment Communities: We are a developer of multi-family and mixed-use residential projects, specializing in development of the greater San Francisco Bay Area.
- SummerHill Homes: We are a specialty builder of mid-to high-end residential homes in superior settings throughout San Francisco Bay Area focusing on in-fill development locations. We are nationally recognized for our expertise in customizing development plans to accommodate the unique characteristics of a given development site.