Position Description

Assistant Controller/Controller - Real Estate Development
Location Pasadena, CA
Job Function Accounting
Employment Status Regular, Full-Time
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Alexandria Real Estate Equities, Inc. (NYSE: ARE) is an urban office REIT uniquely focused on world-class collaborative science and technology campuses in AAA innovation cluster locations. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle Park.  Alexandria is known for its high-quality and diverse tenant base. Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban science and technology campuses that provide its innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success.

The Company is an equal opportunity employer.  We are pleased to consider all qualified applicants without regard to race, color, sex (including sexual or gender identity), religion, national origin, ancestry, sexual orientation, age, marital or veteran status, genetic information, physical or mental disability, or medical condition.  For additional information on Alexandria, please visit www.are.com.

Essential Duties and Responsibilities:

This position will have an exciting opportunity to lead one of the key functions within the Company.  This role will assist with achieving revenue growth through incremental income from our development and redevelopment value creation pipeline.  This position will employ a number of duties in the areas of accounting, financial reporting, forecasting, and project management support, consisting but not limited to the following:

Accounting:

  • Oversight of the month-end close with real estate accounting team, field personnel, and the corporate accounting team, including review of monthly reporting schedules relating to real estate development.
  • Oversight of the monthly and quarterly construction cash spending reports, project set up, budget revisions, and real estate development invoice processing.
  • Participate in monthly status meetings to determine the status of ongoing real estate projects and assess potential impact of accounting treatment (i.e., GAAP rent commencement date, qualifying activities for capitalization, etc.).
  • Monitor and provide recommendations surrounding qualifying activities for capitalization of pre-construction costs, interest and overhead for all development and redevelopment projects, including review of monthly capitalized interest calculations.
  • Assist with the onboarding of joint ventures with development and redevelopment opportunities, including setting up processes and procedures to facilitate construction loan draws, monthly reporting package to joint venture partners, and forecasting capital calls to fund ongoing projects.
  • Hands-on experience in analyzing technical accounting matters and preparing technical memos to support complex real estate accounting transactions.
  • Acting as a liaison between the real estate development team and external and internal auditors to complete the necessary requirements for quarterly reviews and annual audits.
  • Act as a liaison between field personnel and real estate development accounting team.
  • Draft and update documentation for real estate development related policies and procedures, as needed.

Financial Reporting:

  • Opportunity to work closely with management and project managers to understand the real estate business and assist with preparing best-in-class reporting disclosures for SEC and Investor reporting.
  • Responsible for real estate pipeline disclosures within the Company’s SEC filings.
  • Assist in the preparation and review of executive earnings reporting package to assist with the Company’s quarterly earnings call and investor inquiries.
  • Gain an understanding of real estate valuation methodology and sssist wth the quarterly analysis to calculate yield on cost for development and redevelopment projects.
  • Prepare ad hoc reports on real estate development related financial information, as needed.

Forecasting:

  • Direct interaction with senior management to assist with capital planning and forecasting for our $1 billion+ robust development and redevelopment value creation pipeline
  • Prepare development and construction budgeting and return analysis, as needed.

Value-Added Projects:

  • Assist with leading implementing technology tools to improve processes and drive efficiencies.
  • Partner with regional teams to provide data analytics to assist with business decision making.
  • Work closely with Accounting Leadership team and real estate development accounting team to challenge status quo and drive change in all areas of responsibilities, including eliminating risk areas, eliminating redundancies, and taking part in enhancing our award-winning reporting disclosures.

Leadership Opportunities and Responsibilities – Directly supervises staff employees and carries out supervisory responsibilities in accordance with the organization’s policies, procedures and applicable laws. Responsibilities include:

  • Direct interactions with senior management and regional team leaders, including opportunity to gain real estate knowledge through interactions with highly experienced executives.
  • Part of a highly collaborative Leadership Accounting team.
  • Direct oversight of a department of 13.
  • Interviewing, hiring and training employees.
  • Planning, assigning and directing work, and appraising performance.
  • Addressing concerns and solving problems.

Qualifications and Experience: 

  • Bachelor’s degree in Accounting, Finance, or Business Administration.
  • 10+ years of accounting experience, 5 years of Big 4 public accounting experience and 5 years of private experience preferred.
  • CPA required.
  • Technical accounting background and research skills desirable, particularly with respect to project cost accounting topics such as capitalization rules, pre-construction and overhead qualifying activities, revenue recognition of construction management fees, and landlord or tenant control for build-to-suit assets.
  • Strong verbal and written communication skills to interact with all levels including, but not limited to HQ/field personnel, senior management, lenders, consultants, etc.
  • Proficient in business related software: Microsoft Excel, Word, Access, etc.
  • JD Edwards accounting and Oracle Unifier construction management software experience desirable.
  • Public commercial real estate or general contractor experience preferred.
  • Strong analytical skills.
  • Ability to initiate ideas and implement new processes.
  • Ability to work in fast-paced environment, ability to prioritize and meet deadlines.

 

 

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