Controller- Commercial Real Estate

A company in Central Houston is seeking a highly experienced, hands-on Commercial Real Estate Controller with deep expertise in retail shopping centers, specifically big-box retail power centers and lifestyle centers, as well as real estate syndication accounting and investor ownership structures.

The ideal candidate has worked in a smaller real estate ownership, operator, sponsor, or syndication environment where they personally owned the details rather than relying on a large accounting department underneath them. This person must be able to operate hands-on in a fast-moving, less structured environment while partnering with ownership, property management, lenders, CPAs, and investors.

Key Responsibilities

Financial Reporting & Portfolio Oversight

• Prepare and oversee monthly, quarterly, and annual financial reporting for multi-entity retail real estate portfolios.
• Deliver accurate reporting packages for ownership groups, investors, lenders, and business partners.
• Perform detailed variance analysis related to occupancy, tenant recoveries, capital expenditures, debt service, distributions, and operational performance.
• Maintain the integrity of financial statements, balance sheets, cash flow reports, and supporting schedules.
• Lead month-end and year-end close processes, including review of journal entries, reconciliations, and property-level reporting.

Syndicated Real Estate Accounting & Investor Reporting

• Manage accounting for syndicated real estate structures, including multiple entities, ownership allocations, investor classes, and partnerships.
• Prepare and review investor reporting packages, capital account schedules, distribution calculations, capital calls, and equity contribution tracking.
• Coordinate with external CPAs and tax advisors regarding tax reporting, K-1 support, entity records, and annual compliance requirements.
• Maintain accurate records of investor contributions, distributions, preferred returns, ownership changes, and entity-level financial activity.
• Support the reporting requirements associated with complex ownership and investment structures.

CAM Reconciliations, Tenant Recoveries & Lease Accounting

• Oversee annual CAM reconciliations for retail shopping center portfolios.
• Interpret and apply lease provisions related to CAM caps, gross-ups, pro-rata share calculations, administrative fees, recoverable expenses, tax recoveries, and insurance recoveries.
• Respond professionally and accurately to tenant inquiries, disputes, and audit requests.
• Partner with Property Management to ensure proper expense coding and maximize expense recoverability.
• Review billing accuracy for rent, CAM, taxes, insurance, tenant charges, and other recoverable costs.
• Identify and resolve expense leakage, coding errors, under-billing, and recovery issues.

Cash Management, Lender Reporting & Treasury Functions

• Manage cash flow forecasting and treasury activities across multiple entities.
• Oversee reserve tracking, escrow activity, reserve draws, and lender-required reporting.
• Coordinate with lenders regarding covenant compliance, reporting obligations, debt service, and funding requests.
• Monitor operational cash needs, funding requirements, capital planning, and investor contributions.
• Support acquisitions, dispositions, refinancing efforts, and due diligence initiatives.

Budgeting, Forecasting & Operational Support

• Lead annual budgeting processes for properties and portfolios, including CAM budgets and recovery assumptions.
• Prepare forecasts and identify operational risks, cash requirements, under-recovery trends, and expense leakage.
• Analyze NOI trends, tenant billing accuracy, recoverability exposure, and overall property performance.
• Provide practical, business-focused financial guidance to operational and ownership stakeholders.

Leadership & Collaboration

• Lead and develop accounting staff while remaining actively involved in day-to-day operations.
• Enhance SOPs, reporting processes, close procedures, and internal controls.
• Operate effectively in a lean, entrepreneurial environment with a strong ownership focus.
• Collaborate closely with Property Management, Asset Management, ownership groups, lenders, CPAs, and investors.
• Demonstrate accountability, professionalism, and the ability to work effectively under pressure.

Required Qualifications

• Bachelor's degree in Accounting, Finance, or a related field preferred; equivalent commercial real estate accounting experience will be considered.
• CPA preferred, but not required for candidates with strong hands-on experience in syndicated real estate and retail CRE accounting.
• Minimum of 7+ years of Commercial Real Estate accounting experience .
• Direct experience with real estate syndications , investor reporting, distributions, capital calls, ownership allocations, and multi-entity structures strongly preferred.
• Minimum of 3+ years of retail shopping center accounting experience preferred.
• Extensive experience with CAM reconciliations, tenant recoveries, retail lease accounting, lender reporting, reserves, and multi-entity accounting.
• Experience with Yardi strongly preferred.
• Advanced Excel proficiency required.
• Prior experience within a smaller real estate ownership, operator, sponsor, or investment environment is strongly preferred over large-company oversight-only experience.

All qualified applicants will receive consideration for employment without regard to race, color, national origin, age, ancestry, religion, sex, sexual orientation, gender identity, gender expression, marital status, disability, medical condition, genetic information, pregnancy, or military or veteran status. We consider all qualified applicants, including those with criminal histories, in a manner consistent with state and local laws, including the California Fair Chance Act, City of Los Angeles' Fair Chance Initiative for Hiring Ordinance, and Los Angeles County Fair Chance Ordinance.