Revantage

Associate, Accounting Generalist - Affordable Housing

Job Locations US-CA-Los Angeles

Company

Blackstone is establishing a new portfolio company (“NewCo”) that will become a leading U.S. affordable housing platform. Newco is being formed in connection with the acquisition, by Blackstone Real Estate Income Trust (BREIT), of AIG’s 679-asset, 83,000-unit Low Income Housing Tax Credit (LIHTC) multifamily portfolio (“Initial Portfolio”). The new company will be a real estate asset management business that oversees both the Initial Portfolio and Blackstone’s potential future acquisitions and developments in the sector. NewCo, headquartered in Los Angeles, will benefit from both the knowledge and dedication of legacy AIG employees and additional leadership to enable growth.

 

This new business is about much more than creating value for our investors. These communities provide critical affordable housing for many Americans. We genuinely care about our residents and their wellbeing and are committed to being fair, transparent, and responsive to all.  We are also committed to making significant improvements to these properties and aligning the operations with Blackstone’s Standards of Excellence in Residential Operations while ensuring they remain affordable and in compliance with all rent regulations. Additionally, we will seek opportunities to leverage our scale and our partners in this sector to expand the supply of affordable housing. Finally, within the new company, we will create a culture of inclusivity and respect where the pursuit of excellence, in all its forms, is rewarded.

We are seeking an Associate in the Accounting group to join the company’s Los Angeles Office. Working in partnership with Blackstone and NewCo, the Accounting Associate will be responsible for preparing, analyzing, and reporting on the financial and operating results of the Affordable Housing investments at the asset and investment level. A successful Accounting Associate is knowledgeable about real estate principles (GAAP, SEC) and has a strong business acumen and the ability to multi-task to address all internal and external requests.

Other key responsibilities include:

  • Responsible for the Affordable Housing Investment Reporting month-end, quarter-end, and year-end close processes such as account reconciliations, prior period adjustments and monthly journal entries, bank reconciliations, etc.
  • Reviewing and analyzing accounting data and producing financial statements such as P&L’s, Balance Sheets and forecasts at the individual asset level and the consolidated portfolio level
  • Reviewing portfolio annual budgets and individual property budgets
  • Preparing and reviewing variance reporting to assess property performance relative to budget or forecast
  • Serving as a liaison with property operators
  • Ensuring all property invoices are paid at the corporate level and are both processed and paid timely
  • Assists in the enforcement of proper accounting methods, policies, and principles
  • Constructs reliable cash models to project cash flows at the asset and portfolio level
  • Assists in the preparation and review of annual audit findings
  • Ensures processes are compliant with GAAP principles

The successful candidate must possess the drive and energy to execute on the responsibilities outlined above. Ideally, the candidate will have a background in affordable housing and investments/(re)development. This person will be a hard worker with communication skills.

Other key candidate attributes include:

  • Bachelor’s Degree with a major in Finance, Accounting, or closely related field
  • Minimum 3 years of experience in GAAP accounting, financial analysis, and familiarity with financial statements
  • Experience with ERP systems and other accounting software a plus
  • Drive and desire to learn new technologies and grow technical and functional skill sets
  • Ability to work under tight deadlines
  • Strong working knowledge of MS Office, accounting software and databases
  • Excellent communication, problem solving and interpersonal skills necessary

EEO Statement

Our company is proud to be an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Our employment decisions are based on individual qualifications, job requirements and business needs without regard to race, color, marital status, familial status, sex, sexual orientation, gender identity and/or expression, age, religion, disability, citizenship status, national origin, pregnancy, veteran status and or any other legally protected characteristics. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email talent@revantage.com.

 

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