Real Estate Accounting Summer Intern

The Inland Real Estate Group of Companies; Downers Grove (IL); On-site; USD 2,066,000 - 3,031,000; Full time

Job summary

Inland Real Estate Investment Corporation (IREIC) offers a ten-week summer internship in Downers Grove, IL, exposing you to fund accounting, property accounting, and SEC reporting. You will learn hands-on with Yardi and Excel while supporting monthly closes, reports, and audits in a real estate environment.

You should be pursuing an accounting degree (junior) with a 3.0+ GPA and a strong MS Office base, plus a willingness to learn Yardi and Active Disclosure.

Qualifications

• Pursuing a bachelor’s degree in accounting with a minimum 3.0 GPA.
• Junior status at time of application; able to commit to a 10-week summer program.
• Strong MS Office skills and interest in real estate accounting.

Responsibilities

• Assist fund accounting with monthly close and reports in Excel.
• Support property accounting and CAM/tax reconciliations as needed.
• Help SEC reporting by collecting data for filings and notes.
• Rotate through fund, property, and SEC reporting groups to gain exposure.

Skills

Analytical skills

Attention to detail

Communication skills

Self-motivated

Education

Bachelor's degree in accounting (pursuing)

Tools

MS Office (Word, Excel, PowerPoint)

Yardi

Active Disclosure

Job description

Inland Real Estate Investment Corporation ("IREIC") is a leading sponsor of public and private real estate programs. Inland Real Estate Investment Corporation is a part of The Inland Real Estate Group of Companies, Inc. ("Inland"). Inland, headquartered in Oak Brook, Illinois, is one of the nation’s largest commercial real estate and finance groups, engaged for more than 50 years in the diverse facets of real estate such as property management, leasing, marketing, acquisition, real estate brokerage, development, redevelopment, construction, real estate financing and other related services.

IREIC currently is the sponsor of three public non-listed REITs and one private REIT. The fund accounting team for these REITs maintains the REIT books and records in Yardi, prepares the monthly close and prepares monthly/quarterly/annual reports, variance analyses, and management reports. The property accounting team maintains accounting books and records in Yardi for 70+ multifamily residential properties as well as 200+ multi-tenant retail and single tenant retail properties across the US. The SEC reporting team prepares and manages the approval process of external filings such as the 10K, 10Q and 8K.

Summer Internship

The summer internship is a ten-week rotational program designed to provide exposure to the fund accounting, property accounting and SEC reporting department. The Real Estate Accountant Intern Program will introduce young professionals to the commercial real estate industry by providing hands-on, rotational learning and training in areas not limited to, accounting, financial reporting and analysis and cash flow analysis. During the rotational program, candidates will be exposed to the various groups within the IREIC team.

Candidates will work in the functional areas listed below and may perform (but not limited to) the outlined responsibilities.

Fund Accounting

• Assist in maintaining the REIT books and records in Yardi in accordance with US GAAP
• Assist in the preparation of the monthly close of the consolidated REIT books in Yardi and the supporting workbooks in Excel
• Assist in the preparation of monthly/quarterly reports, variance analyses, and management reports
• Assist in providing supports for the external audit function during the quarterly review process

Property Accounting

• Assist in maintaining the property books in Yardi using accrual accounting
• Assist in preparing the monthly close work books with variance analyses
• Assist in performing annual common area maintenance and real estate tax reconciliations
• Assist in other projects and analyses as needed

SEC Reporting

• Assist in collecting and compiling necessary information to help prepare financial statements, footnotes and all other components of SEC filings, including Forms 8-K, 10-K and 10-Q
• Assist in managing documents for SEC filings within Active Disclosure and assist with the XBRL review
• Other miscellaneous projects as assigned

What are we looking for?

• Pursuing a bachelor’s degree in accounting
• Minimum 3.0 GPA
• Ability to work 40 hours per week in our Downers Grove, Illinois corporate headquarters
• Strong interest in pursuing a career in real estate accounting
• Demonstrable working knowledge of MS Office including Word, Excel, and PowerPoint
• Knowledge or desire and aptitude to learn other software such as Yardi and Active Disclosure
• Attention to detail and analytically minded
• Self-motivated, diligent, outstanding communication skills
• You must be a junior at time of application.