Manager, Real Estate Finance

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Job description

Position Title: Real Estate Manager - Finance Team

Position Location: Boston Office

BAIN CAPITAL OVERVIEW

Since its inception in 1984, Bain Capital has employed a strategic, analytical approach to identify attractive investment opportunities and partner with management teams to transform and improve their businesses. Our affiliates manage approximately $120 billion in private equity, public equity, leveraged debt, and venture capital investments across multiple sectors, industries, and asset classes. Our competitive advantage is grounded in a diligence-intensive, value-added investment approach that enables the firm to deliver industry-leading returns for its investors. Headquartered in Boston, Bain Capital offices are in Chicago, New York, Palo Alto, San Francisco, Dublin, London, Luxembourg, Madrid, Munich, Guangzhou, Hong Kong, Melbourne, Mumbai, Seoul, Shanghai, Sydney, and Tokyo.

REAL ESTATE OVERVIEW

The Bain Capital Real Estate (BCRE) team joined Bain Capital in February 2018 as a spin-out of Harvard Management Company's (HMC) Real Estate team, led by Dan Cummings who helped found the team in 2010. The team, which has invested and committed $4.5 billion of equity in its direct real estate investment strategy since its inception, is managing HMC's direct real estate investment portfolio as well as three Bain Capital Real Estate funds.

Averaging over 20 years of real estate experience, BCRE's senior investment team brings together a broad range of expertise including acquisitions, asset management, portfolio management, financing, investment sales, investment banking, financial reporting, legal, engineering, and development management. The team uses its deep industry experience to identify compelling themes underpinned by secular trends, assemble expert teams, and execute upon difficult-to-access strategies using a detailed and repeatable playbook the team has developed over the last decade and 440+ investments. As part of Bain Capital, the real estate team leverages the firm's global platform to assist them in sourcing efforts, as well as its deep industry expertise in life sciences/healthcare, consumer/retail, industrials and other sectors germane to its current portfolio as well as future investment themes.

MANAGER POSITION DESCRIPTION

The Manager will be a part of the BCRE Finance team and will be responsible for the accounting and reporting oversight for investment fund reporting and a sub-portfolio of direct real estate investments, as well as provide support for the general accounting and reporting functions related to the overall real estate portfolio. Direct real estate investments include a wide range of asset sectors including life sciences / lab space, senior housing, self-storage, industrial - infill, medical office, media / content space, etc. This individual will be the financial and accounting partner to the investment team and will be expected to provide accounting and financial insight and reporting for the real estate investments within their portfolio. The Manager will provide oversight and guidance to the underlying partners' accounting professionals, including but not limited to: oversight of cash movements; review of monthly property accounting packages from subsidiary joint ventures; oversight and review of a fund administrator; and assist with the internal and external valuation process for the overall real estate portfolio.

This individual will work closely with the BCRE Finance team to execute the accounting period close of the real estate portfolio on a monthly and quarterly basis, with additional emphasis on the quarterly and annual valuation cycle of the underlying investments. This process requires in-depth analysis and understanding of the real estate portfolio investments, including the documentation of significant matters on an ongoing basis. An important component of this process is the continuous communication and support of the investment team's need for relevant and timely financial information.

The responsibilities of the Manager will include, but not be limited to, the following:

* Providing oversight to the BCRE Finance Associate and Senior Associates on various tasks
* Analyzing and reviewing performance, hurdle and waterfall calculations
* Coordinating with the fund administrator on a variety of tasks, including the set-up of future real estate investments and the quarterly and annual financial statement review process
* Maintaining the integrity of portfolio accounting systems and general ledger records for quarterly fair value US GAAP basis reporting and annual fair value US GAAP basis audit
* Reviewing and managing investment fund quarterly and annual financial reporting
* Ensuring proper accounting and reporting for a sub-portfolio of direct investments
* Analysis of various fund activities to ensure compliance with partnership agreements
* Facilitating communication with JV operators to obtain relevant accounting detail and insight into the accounting and valuation process on a continuous basis
* Interacting with and supporting the BCRE team regarding portfolio investments and finance related issues
* Organizing the quarterly valuation process for all real estate property investments, including the coordination and analysis of internal valuation reviews and external appraisals
* Coordinating the execution of cash movements and ensuring accuracy and timeliness
* Analyzing and researching current industry and accounting guidance and its applicability to the real estate portfolio and the accounting and reporting process
* Working with the team to coordinate the annual audit, annual tax and quarterly REIT compliance, working with internal tax department and external advisers regarding tax implication of complex investment transactions, providing information as requested and maintaining audit reports throughout the year
* Understanding and documenting investment transactions; working with the investment team and outside advisors on deal closings
* Participating in special projects and duties as assigned, including support of the Company's operational due diligence process, regulatory reporting process, and among other initiatives
* Responding to requests and inquiries of limited partners and their representatives
* Working with BCRE Finance leadership on projects to enhance the product of the team, department and firm

GENERAL QUALIFICATIONS

We are actively seeking candidates with the following skills and qualifications:

* Six to eight years of relevant accounting experience within the real estate industry (preferably experience working at a real estate investment manager)
* A Bachelor of Science degree in Accounting. CPA designation is strongly preferred
* Proficiency with real estate investment accounting/industry issues, with a firm understanding of real estate valuation, portfolio operations, and financial reporting matters
* Closed and/or open-end fund reporting experience is preferred
* General understanding of the tax aspects of private and alternative investments
* Experience with partnership accounting, distribution and waterfall calculations
* Proficiency in Yardi is preferred, but not required
* Knowledge and demonstrated interest of financial markets and products
* Excellent communication skills plus demonstrated confidence and ability to communicate with all levels of management
* Ability to work under pressure and meet deadlines
* Must be extremely detail oriented and demonstrate a high degree of professionalism and self-motivation