Job Description

Job Description

Job Description

Who We Are:

Vestar is a nationally recognized leader in the acquisition, management, leasing and development of retail real estate with a significant market share in the Western US. Vestar has over 30 million square feet currently under operation and management and has been acknowledged by both institutional and private-client investors as an industry leader.

Since its inception in 1989, Vestar has become synonymous with integrity and responsibility. As one of the leading privately held real estate companies in the western United States, Vestar acquires, develops and manages retail and entertainment destinations of varying size and scale that serve as destinations and community focal points.

Vestar Job Summary:

The Recoveries Analyst will be working closely with the accounting, property management, and lease administration teams. They will be principally responsible for analyzing lease terms to produce appropriate expense recovery charges payable by Tenants. As part of the process, they will maintain accounting systems of record and relevant Excel templates with the support of their team.

Essential Functions:

• Analyzing and interpreting tenant leases with a specific focus on tenant recovery terms (CAM, Real Estate Taxes, and Insurance)
• Abstracting lease recovery terms into excel templates and/or accounting/software (MRI and/or Yardi)
• Maintaining and/or creating expense pools for tenant recovery calculations within software or excel templates
• Supporting the accounting team through the calculation of monthly recovery calculation and true-up entries recorded (including troubleshooting and research as needed)
• Updating tenant terms in the relevant accounting software related to expense recovery charges for ongoing lease administration (renewals, expansions, new tenants, etc.)
• Running annual Recovery Reconciliation calculations through accounting software systems or excel templates
• Facilitate audit requests from tenants and assist with tenant ledger reconciliations, as needed
• Calculate semi-annual and annual property tax billings, annual insurance billings, and related tenant account adjustments

Knowledge And Experience Needed For Role:

• Industry level experience (preferably 3+ years) with a specific focus on CAM reconciliations, lease abstracting, and/or property accounting
• Experience in MRI and/or Yardi software platforms
• Experience with the functionality of Recovery/CAM Reconciliations utilizing Excel templates and/or accounting software platforms
• Accounting experience – understanding commercial real estate operations (flow of operating and capital expenses and revenues derived from tenants)
• Willingness to learn how to read general and tenant ledgers, and how to create journal entries
• Education – Bachelor’s Degree or equivalent experience
• Strong analytical skills and problem solving in a team environment

Vestar is an equal opportunity employer. We celebrate diversity in our workplace and we hire the most qualified candidates without regard for age, ethnicity, gender, gender identity or expression, language differences, nationality or national origin, family or marital status, physical, mental, and developmental abilities (or the perception of a disability), genetic information, race, religion or belief, sexual orientation, skin color, social or economic class, education, work and behavioral styles, political affiliation, military service, caste, or any other characteristic protected by law.

Eligibility: Applicants must have valid work authorization that does not now and/or will not in the future require sponsorship of a visa for employment authorization in the US by Vestar. Applicants must have and maintain a current driver’s license and access to a personal vehicle.

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