Website Magnolia Capital
Magnolia Capital is a real estate investment company focused on multifamily assets within the United States. The company seeks to identify and execute on compelling, institutional quality multifamily investment opportunities in primary and secondary markets throughout the country.
Based in Chicago, Magnolia Capital was founded in August 2016 with a focused vision– to redefine multifamily investing as we know it through empowering a world class team with a technology forward platform and sound investment principles. The company has a discretionary equity fund and seeks to grow the business with the help of talented, thoughtful and determined team members.
We offer the culture and opportunity of an entrepreneurial start-up, supported by the scale, stability, and balance sheet resources typically found in a seasoned business.
We are currently searching for a Senior Accountant to assist in building out corporate and property financial reporting and accounting functions, including accounting system implementation. This role will assist the Director of Finance 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 Senior Accountant will work closely with third party property manager accounting functions to ensure accurate and timely financial reporting. The successful candidate must be a self-starter, organized, trustworthy, reliable, punctual, detail-oriented, and personable.
Additional responsibilities include, but are not limited to:
Oversee and review monthly, quarterly, and yearly information from third party property management accounting
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 Director of Finance and asset management team in managing capital for renovations
Research relevant accounting issues and document findings/conclusions
Provide support for year-end audits
Reconcile all parent company cash, investment, and equity accounts
Assist in preparation of tax filings for corporate and fund entities
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
Who We Are Looking For
The ideal candidate will meet the following attributes:
Bachelor’s Degree required in Accounting
3-5 years of experience in accounting
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 levels, bonus opportunities, and ambitious growth plans. Standard benefits are also offered such as medical/dental/vision/life insurance, 401(k) plan, and flexible paid time off and hours.
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.
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