Magnolia Capital (“Magnolia”) is a Chicago-based real estate investment firm focused on finding and creating value within the residential real estate space. Magnolia was founded in 2016 with a focused vision to redefine rental housing investing through empowering a world-class real estate team with a technology-forward platform and sound investment principles unseen elsewhere in the industry. Magnolia is building a talented, highly motivated team of experts and a best-in class, data driven platform that will allow the firm to create exceptional results for its stakeholders- customers, partners, associates, and shareholders alike.
Magnolia, along with its multifamily and single-family operations and property management brands (STYL Residential and National Home Rentals), manages wholly- or partially-owned properties across the U.S., that are thoughtfully designed to be beautiful, community-spirited and create an elevated living experience.
Magnolia offers the culture and opportunity of an entrepreneurial start-up, supported by the scale, stability, and capital resources typically found in a seasoned business.
For more information visit:
www.magnoliacap.com, www.stylresidential.com or www.nationalhomerentals.com
Job Summary
Magnolia Capital is currently seeking a Sr. Accountant to assist in property financial reporting and accounting functions. This role will support the Assistant Controller in all accounting functions for a growing portfolio of institutional quality, multifamily properties including the review of all disbursements, accounts receivable, and general ledger data and the preparation of reconciliations and other analysis as needed. The Sr. Accountant will work closely with Magnolia’s property management brand, STYL Residential, to ensure accurate and timely financial reporting. The successful candidate must be a self-starter, organized, trustworthy, reliable, punctual, detail-oriented, and personable.
This position is based out of our HQ in Chicago.
Essential Job Functions
Support Assistant Controller and Property Management team with set up and transition of new properties
Assist in coaching, training, and providing review support to junior team members
Oversee and review monthly, quarterly, and yearly information from related-party property management accounting
Compare financial results to budget and draft variance explanations
Review property level payables and receivables; inquire of property management team about unusual activity or past due balances
Review and maintain property fixed asset records, including GAAP and tax depreciation
Enter/import property level financials into corporate accounting system
Assist the Controller and asset management team in managing capital for renovations
Research relevant accounting issues and document findings/conclusions
Reconcile all parent company cash, investment, and equity accounts
Calculate and initiate payment for asset management and acquisition fees
Assist in development and implementation of accounting policies and procedures
Perform monthly, quarterly, and year-end closings of general ledger in accordance with GAAP
Perform other duties as assigned
Education And Experience
Bachelor's Degree required in Accounting
4+ years of experience in accounting
Yardi and RealPage strongly preferred
CPA strongly preferred
Previous experience with institutional real estate accounting
Strong working knowledge of GAAP
Excellence time management skills
Strict attention to detail
High degree of confidentiality required
Strong written and verbal communication skills
Proficient with Excel and other Microsoft Office Suite products
Ability to collaborate and work in a team environment
Ability to meet stringent deadlines in a fast paced, results-oriented environment
What We Offer
Magnolia Capital offers competitive compensation, bonus opportunities, and ambitious growth plans. Our robust package includes: medical/dental/vision/life insurance, 401(k) plan, flexible time off, hybrid schedule, business casual dress code, volunteer days, and more!
Promoting our associates’ career growth and providing opportunities for advancement is a cornerstone value of our company. Our startup culture will allow for the best and brightest talent to excel in an entrepreneurial setting, while our institutional funding and experience will offer the ability to execute an ambitious growth plan for the company.
Magnolia Capital is an equal opportunity employer. Magnolia Capital prohibits discrimination and harassment of any type and affords equal employment opportunities to employees and applicants without regard to race, color, religion, sex, national origin, age, disability or genetic information.
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Accounting/Auditing and Finance
Industries
Real Estate
Referrals increase your chances of interviewing at Magnolia Capital by 2x