Reit Management & Research LLC manages eight publicly traded entities, including five REITs, along with several private entities, such as the Sonesta International Hotel Corporation. Under the management agreement structure for these companies, a number of support functions are centralized including accounting, property management, legal, IT, and others. This role plays a critical role in the continued growth and support of all publicly traded entities.
The Managers primary technical accounting responsibilities will include purchase accounting, impairment and environmental reserves, lease accounting, and assessment and documentation of technical accounting considerations, amongst others. This position will also help develop analysis tools for validating income statement and balance sheet activity to address the REITs public reporting considerations and internal reporting needs, such as regional property accounting needs.
The Manager will work closely with numerous functions relating to our commercial real estate and hotel operations, public company financial reporting teams, IT, and Internal Audit.
- Develop effective processes for identifying and resolving lease accounting matters, which will include increasing communication between the property accounting and lease administration organizations of RMR.
- Consult with property accountants as lease questions arise, including the ultimate documentation of the technical accounting matters.
- Assist with completing purchase accounting activities, including running internal models for valuing intangible assets and managing external consulting relationships.
- Manage the real estate tax accounting process and the team managing the real estate tax database.
- Serve as a resource to the RMR organization for assessing and documenting technical accounting considerations (outside of purchase accounting and lease matters) that arise in the normal course of operations.
- Complete quarterly impairment and environmental reserves, along with consistently assessing possible process improvements within these areas.
- Assist the Regional Controller with managing our relationship with external audit firms.
- Assist with special projects and strategic initiatives as they arise.
- Document complex matters in a way that can be easily digested by Senior Management.
- Bachelors degree in Accounting
- 4+ years of experience; public accounting (Big 4 preferable) or private industry (large public registrant preferable).
- Strong technical accounting skills (US GAAP).
- Basic understanding of general ledger activity, preference with Yardi application.
- Experience with public company reporting.
- Effective management, coaching and mentoring skills.
- Excellent client service orientation.
- A leader who will challenge the status quo, think outside the box, and lead by example.
- Ability to respond to frequent ad hoc requests.
- Exceptional organizational skills and verbal and written communication skills.
- Ability to work in a fast-paced, collaborative, and results driven environment.
- Strong proficiency with Excel and other Windows applications.
Founded in 1986, Reit Management & Research LLC (RMR) is a privately held asset management company that manages one of the largest portfolios of publicly owned real estate in the United States with approximately $21.5 billion of assets under management, including more than 1,650 properties located in the 46 states, Washington D.C., Puerto Rico and Ontario, Canada. RMR has approximately 790 employees in its headquarters and regional offices located throughout the country. RMR manages CommonWealth REIT (NYSE: CWH), an office and industrial real estate investment trust, or REIT; Hospitality Properties Trust (NYSE: HPT), a hospitality REIT; Senior Housing Properties Trust (NYSE: SNH), a healthcare REIT; a government property focused REIT, Government Properties Income Trust (NYSE: GOV); and Select Income REIT (NYSE: SIR), a REIT that focuses on net leased, single tenant properties; and also provides management and administrative services to two publicly traded real estate based operating companies: Five Star Quality Care, Inc (NYSE Amex: FVE) and TravelCenters of America LLC (NYSE Amex: TA). An affiliate of RMR, Sonesta International Hotels Corporation, is one of HPT's hotel managers; and another affiliate of RMR, RMR Advisors, Inc. is the investment manager of a publicly owned mutual fund, which principally invests in securities of unaffiliated real estate companies.
Hospitality Properties Trust - 21 months ago
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Hospitality Properties Trust (HPT) is a real estate investment trust (REIT). As of December 31, 2008, HPT, directly and through...