Staff Accountant

Job Summary

Magnolia Capital (“Magnolia”) is a Chicago-based real estate investment firm focused on finding and creating value within the residential real estate space. Magnolia was founded in 2016 with a focused vision to redefine rental housing investing through empowering a world-class real estate team with a technology-forward platform and sound investment principles unseen elsewhere in the industry. Magnolia is building a talented, highly motivated team of experts and a best-in class, data driven platform that will allow the firm to create exceptional results for its stakeholders- customers, partners, associates, and shareholders alike. Magnolia, along with its multifamily and single-family operations and property management brands (STYL Residential and National Home Rentals), manages wholly- or partially-owned properties across the U.S., that are thoughtfully designed to be beautiful, community-spirited and create an elevated living experience. Magnolia offers the culture and opportunity of an entrepreneurial start-up, supported by the scale, stability, and capital resources typically found in a seasoned business.

Essential Job Functions

• Oversee and review monthly, quarterly, and yearly information from related-party property management accounting
• Compare financial results to budget and draft variance explanations
• Review property level payables and receivables; inquire of property management team about unusual activity or past due balances
• Review and maintain property fixed asset records, including GAAP and tax depreciation
• Enter/import property level financials into corporate accounting system
• Aid the Controller and asset management team in managing capital for renovations
• Research relevant accounting issues and document findings/conclusions
• Reconcile all parent company cash, investment, and equity accounts
• Calculate and initiate payment for asset management and acquisition fees
• Aid in development and implementation of accounting policies and procedures
• Perform monthly, quarterly, and year-end closings of general ledger in accordance with GAAP
• Perform other duties as assigned

Education And Experience

• Bachelor's Degree required in Accounting
• 1-2 years of experience in accounting
• CPA strongly preferred

What We Offer

• Competitive compensation
• Discretionary bonuses annually
• Medical/dental/vision/life insurance
• 401(k) plan
• Flexible time off
• Hybrid schedule
• Business casual dress code
• Volunteer days
• More!

Promotion

• Magnolia Capital offers opportunities for advancement
• The company promotes its associates’ career growth

About the Role

• Staff Accountant position at Magnolia Capital
• Assists in property financial reporting and accounting functions
• Works closely with STYL Residential for accurate and timely financial reporting

Qualifications

• Self-starter, organized, trustworthy, reliable, punctual, detail-oriented, and personable
• Based out of Magnolia Capital's HQ in Chicago, IL