Financial Controller - Real Estate Fund

Founded in 1998, Magna Capital Management, L.C. (“MCM”) is a hotel real estate investment company based in Warwick, Rhode Island. MCM is the fund investment management arm responsible for raising, deploying and harvesting discretionary capital. Magna raised its first discretionary fund in 2001 (Magna Hotel Fund I) and is currently in active investment with Magna Hotel Fund VIII, a $225 million fully discretionary hotel investment vehicle. 

Our continued growth has led to an opening for a newly created position within our company.  We are adding a Real Estate Fund - Property Financial Controller. Responsibilities include:

Management Company Oversight

• Ensure timely real estate and OPCO income tax payments
• Review of monthly property level financial packages including Balance Sheet, Income Statement and Accounts Receivable
• Develop and review property level accounting cash flow forecasting
• Assist in the close-out of property level WTBs upon property sales
• Review and assist with unique tax issues/accounting issues (ex: crew/destination fees/comp breakfast/etc)

Fund Management Duties

• Monitor monthly lender waterfalls
• Track below GOP level expenses, including debt service, real estate taxes, owner’s expense, condo fees, hotel rent, ground rent and reserve funding
• Work in conjunction with attorneys and consultants to formulate allocations for purchases and sales
• Participate in annual budgeting process and update forecasts for below GOP line items
• Develop transfer pricing studies in conjunction with our CPA firm for intercompany rent schedules
• Acquisition and disposition closings and transitions

Requirements:

• Bachelor's degree with a major in Accounting or Finance preferred - CPA a plus
• 5 years of experience in accounting, audit, tax or finance function for alternative investment companies
• Excellent quantitative/analytical and verbal/written communication skills
• Ability to manage multiple priorities and work in fast paced, deadline driven environment
• Technology proficiency is essential as the candidate would leverage a number of software applications such as Microsoft Excel, Word and PowerPoint