Portfolio Controller

American Real Estate Partners LLC•McLean, VA

32d•Hybrid

About The Position

Headquartered in the Greater Washington area, American Real Estate Partners (AREP) is a US-based leading institutional fund manager and real estate partner with over $13 billion deployed across key U.S. markets. Specializing in data center, residential, industrial, and office assets, AREP has acquired more than 34 million square feet of Class A real estate and currently manages over 25 million square feet. PowerHouse Data Centers, a wholly owned division of AREP, is a developer and owner of next-generation data centers and provides technical real estate solutions for hyperscalers across the country. Backed by strategic joint venture partnerships, PowerHouse leverages its proven leadership and best-in-class technical expertise to deliver innovative real estate solutions. POSITION SUMMARY The Portfolio Controller leads all aspects of the accounting and financial reporting for a portfolio of real estate investment joint ventures, including operating assets and development projects. This position will be responsible for development/operational accounting, financial reporting, audit, tax compliance and other duties related to the assigned portfolio. The Portfolio Controller will oversee a team of 2-3 property accountants and 2-3 development accountants to successfully provide leadership over complex transactions, establish accounting practices, and ensure that financial data is consistent, accurate, and timely. This positions partners closely with acquisitions, asset management, construction, and operations. This role reports to HQ based in McLean, VA with a hybrid schedule of 4 days a week in-office and 1 day remote.

Requirements

Bachelor’s degree in Accounting, Finance, or related field, or additional relevant experience in lieu of degree.
10+ years of progressive accounting experience with significant exposure to real estate development and investment accounting.
Demonstrated experience in development accounting across the full lifecycle of projects.
Strong expertise in joint venture accounting, including complex partnership structures and waterfall calculations.
Experience working on complex real estate development transactions with multiple stakeholders and capital sources.
Strong understanding of internal controls and accounting process design.
Proven experience in a leadership role with responsibility for managing and developing accounting teams.
Proficiency in real estate accounting systems (e.g., Yardi) and advanced Excel skills.

Nice To Haves

Candidates with experience within the data center or digital infrastructure sector are strongly encouraged to apply.

Responsibilities

Provide technical guidance on complex real estate transactions, joint ventures, and investment structures (upper tier joint ventures, holding companies, etc.).
Review and interpret legal agreements, including joint venture agreements, purchase and sale agreements, loan agreements, construction contracts, etc., to determine appropriate accounting treatment.
Ensure that all monthly/quarterly/annual financial reporting, development reporting, audit and tax compliance is completed and timely and accurately.
Ensure that monthly development funding requests are created and provided to lenders and JV partners timely, accurately, and in accordance with all governing documents.
Establish and enforce internal controls over accounting processes, including cost capitalization, approvals, and financial close procedures.
Partner with acquisitions, asset management and construction/development teams to ensure accurate financial data throughout the life cycle of an investment.
Oversee accounting integration processes for newly acquired assets and disposition processes for sold assets.
Ensure compliance with applicable accounting standards (Fair Value, GAAP, income tax basis) related to real estate and investment companies.
Drive process improvements and standardization across development accounting workflows, systems, and controls.
Lead, manage, and develop a team of accounting professionals, including performance management, coaching, and succession planning.
Serve as a key point of contact for auditors, investors, and external partners on accounting matters related to assigned portfolio.