AVP, Transaction Accounting

Overview

Who We Are

Revantage, a Blackstone Real Estate portfolio company, is a global provider of corporate services.

With a corporate purpose of ‘In Pursuit of Better,’ Revantage delivers value-added services and world-class talent for Blackstone Real Estate portfolio companies, spanning diverse asset classes, including residential, logistics, office, hospitality and retail sectors. Headquartered in Chicago, the company’s footprint extends across North America, Europe and Asia Pacific.

Rooted in a commitment to collaboration and inclusivity, Revantage goes beyond traditional corporate services and acts as a trusted partner. Across offerings that include finance, technology, human resources and operations, Revantage proactively anticipates stakeholder needs, recruits exceptional talent and enables its business partners to thrive.

What We Value: Our Culture

Our people are our most important asset, enabling Blackstone portfolio companies and investments to scale and thrive. Together, we foster a workplace where everyone can be themselves, enabling them to do their best work.

At Revantage, we have exceptional people who live our values and help us pursue better every day. We offer dynamic and meaningful work, competitive compensation, benefits and flexibility. We listen and take action to ensure our organization evolves to reflect our employees’ voices and support an inclusive culture.

Our demonstrated commitment to our people and collaborative culture have earned us numerous awards as a top employer.

Our culture is built on our shared core values and commitment to be:

• Learners – We learn from our challenges and successes
• Leaders – We commit to continuous improvement
• Enthusiasts – We face challenges with optimism and believe anything is possible
• Achievers – We expect high standards for ourselves and enable the success of our teams
• Partners – We deliver value and positive impact to our partners
  
  

Grow your career with us. As a member of our team, you'll gain hands-on experience in the real estate industry and benefit from a supportive environment that fosters personal and professional growth.

The AVP, Transactions Accounting assists Blackstone and their real estate portfolio companies’ deal teams with handling acquisition and disposition closings across all asset classes including multifamily, self-storage, student housing, manufactured housing, and hospitality. This role will also assist the investment reporting teams with the onboarding of new assets and legal entities into Revantage’s accounting system, Workday. In addition, this individual will also be responsible managing a team of staff and/or senior accountants, as well as being responsible for the preparation and/or review of acquisition and disposition workbooks and corresponding journal entries. A successful AVP, Transaction Accounting is knowledgeable about real estate principles (GAAP, SEC, fund reporting and elimination/consolidation) – including reviews of third-party purchase price allocation reports and appraisals – and has a strong business acumen and the ability to multitask both internal and external requests. This position is based out of Revantage’s headquarters in Chicago, IL.

How You Add Value

• Comprehend/review newly executed purchase and sale agreements and understand/investigate any accounting consequences as well as the impact of prorations
• Comprehend/review newly executed joint venture agreements and loan documents and understand/investigate any accounting and/or financial reporting consequences on an asset and fund-level
• Coordinate supporting information needed with legal teams, title companies, Blackstone’s real estate portfolio companies, lenders, and property managers to prepare closing statements; additional coordination directly with Blackstone on acquisitions
• Calculate prorations on transactions for inclusion in the closing statement based on the purchase and sale agreement
• Draft and finalize internal closing statement to be distributed to the buyer, seller, and title company (reconcile to title company statement); coordinate internal team and buyer review/approval prior to closing
• For property acquisitions, review accounting system templates to create, setup, and onboard new assets and legal entities
• For property acquisitions, review third party purchase price allocation reports and review corresponding entries. Ensure the opening entries recorded reconcile to the executed closing documents and other support. Coordinate with Blackstone and/or their fund administrator and real estate portfolio companies in order to ensure the completeness of the entries recorded.
• For property acquisitions, summarize and document the methodologies, assumptions, and overall approach to testing the purchase price allocation reports. Coordinate with third party valuation firms, Revantage valuations team, and Blackstone and/or their real estate portfolio companies’ deal teams in assisting with the purchase price allocation estimates; test key inputs used in the purchase price allocation estimates.
• Review disposition journal entries and gain/loss calculation and ensure properly recorded by the property managers
• Actively participate in reviewing reprorations (post acquisition/disposition true ups) within the designated period per the purchase sale agreement
• Review acquisition/disposition rollforwards and cash flow summary on a quarterly basis
• Respond to audit inquiries from public accounting firms and act as audit lead related to transaction testing
• Supervise staff and/or senior accountant(s) and demonstrate leadership skills
• Perform special ad hoc projects and analysis on a frequent basis
• Demonstrate ability to gather deal information from a variety of sources and to create and maintain multiple deal and reporting trackers to share with all relevant internal parties for planning purposes
• Fine-tune team policies, processes, and procedures to ensure consistency, timeliness, and accuracy across all services provided amongst all funds and asset classes
• Take lead on all on/offboarding meetings with internal/external parties and all relevant stakeholders
• Enhance/establish review files leveraging current tool set available.
• Enhance controls and review process across funds and assets.
• Roll out standardized procedures across funds – define/draft procedure documentation where needed and ensure team’s processes and procedures support the department and organizations goals.
• Provide recommendations to improve processes and procedures and initiate corrective actions.
• Partner with senior managers to identify and drive external relationships with the team’s key contacts and stakeholders including third parties.
  
  

Required

What You Bring To The Role

• Bachelor’s degree in Accounting or related field
• Minimum 8 years real estate investment accounting experience
• Excellent communication, problem solving and interpersonal skills necessary
• Self-starter with strong team leadership and problem-solving skills, the aptitude to think independently, and the motivation to work with multiple teams in a rapidly changing environment
• Knowledge of US GAAP
• Ability to multi-task and manage shifting priorities and deadlines, with attention to detail and an ability to work both independently and in a team environment
  
  

Preferred

• Big 4/Public Accounting experience
• CPA certification
• Commercial real estate fund reporting experience (open-ended fund, closed-end fund, separate account, and/or REIT-related)
• Fair value reporting experience
• Experience in preparing and/or reviewing third party appraisals reports and/or internal valuations
• Accounting system consolidation experience/knowledge
  
  

Base Compensation Range

$115,000.00 To $160,000.00. This represents the presently-anticipated low and high end of the Company’s base salary range for this position. Actual base salary range may vary based on various factors, including but not limited to location and experience.

Total Direct Compensation: This job is also eligible for discretionary bonus and incentive compensation on an annual basis.

Benefits: The Company provides a variety of benefits to employees, including health insurance coverage, retirement savings plan, paid holidays and paid time off (PTO).

The additional total direct compensation and benefits described above are subject to the terms and conditions of any governing plans, policies, practices, agreements, or other materials or documents as in effect from time to time, including but not limited to terms and conditions regarding eligibility.

EEO Statement

Revantage is an equal opportunity employer. In accordance with applicable law, we prohibit discrimination against any applicant, employee, or other covered person based on any legally recognized basis, including, but not limited to: veteran status, uniformed servicemember status, race, color, caste, immigration status, religion, religious creed (including religious dress and grooming practices), sex, gender, gender expression, gender identity, marital status, sexual orientation, pregnancy (including childbirth, lactation or related medical conditions), age, national origin or ancestry, citizenship, physical or mental disability, genetic information (including testing and characteristics), protected leave status, domestic violence victim status, or any other consideration protected by federal, state or local law. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email talent@revantage.com

Please review the job applicant privacy notice here.