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.
The property accountant intern will gain a better understanding of the Commercial Property Accounting process - from Accounts Receivable, Accounts Payable, Cost Accounting, Recoveries, General Ledger to financial statement preparation and reporting.
This paid internship will be in our Phoenix, Arizona office.
Approximately 16-20 weeks
Approximately 25 hours per week
Essential Functions may include:
Monitor and update cash balances for all properties assigned for incoming and outgoing transactions. Request and record fund transfers when necessary. Notify managers and owners of any cash issues on property.
Assist in the entry of tenant rent payments.
Update the actual cash activity in the excel cash flow.
Adjust and update tenant files in MRI system as needed specifically on the following areas – vacated tenants, tenant billing adjustments (quarterly/annual CAM charges, semi-annual property tax billings, annual insurance billings, and other miscellaneous charges), security deposit application/refunds.
Ensure payment/disbursements of non-recurring transactions to include property taxes, annual insurance premiums, annual ground rent.
Calculate monthly sales tax liability, where applicable, to the appropriate state and municipality jurisdictions.
Calculate monthly management fee due to VPI.
Prepare monthly journal entries related to each project to include all supporting schedules (balance sheet and income statement items) for the monthly accounting package to be finalized by the Property Accountant.
Prepare monthly bank reconciliations for all cash accounts, including escrows where applicable, for all properties assigned.
Review balance sheet schedules to ensure they tie General Ledger.
Review financials in Datex to confirm they match MRI accounting system.
Transmit monthly deliverables to Clients with direction from Property Accountant.
Special projects, as needed.
Proficiency with Microsoft products: Excel, Word, and Access
Understanding of accrual basis accounting concepts
Strong analytical and problem-solving skills
Strong communication skills (verbal and written)
Excellent interpersonal skills
Great attention to detail
Candidate must be in their Junior or Senior at an accredited 4-year College or University with a focus in accounting or Business Administration with a focus on finance and have completed their intermediate accounting coursework. The ideal candidate should maintain a GPA of 3.0 or better.
Internship Application Process:
To be considered for this opportunity you must do the following:
1. Attach an updated Resume to your application
2. You must have two recommendations, one from an existing or former employer and one from a teacher from your undergrad program. The information needed is below:
Recommending Employer/Teacher Name:
Recommending Employer/Teacher Title:
Students First and Last Name:
Institution or Company:
Relationship to Applicant:
How long have you know the applicant?
How well do you know the applicant?
How does the applicant challenge him/herself, manage time and utilize academic support networks? Please explain.
How does the applicant lead or motivate others? Please explain.
How is the applicant at setting realistic goals and developing strategies for completing those goals? Please explain.
How is the applicant at understanding his/her personal strengths and weaknesses? Please explain.
Rate the applicant's community involvement and extracurricular activities: Please explain.
3. You must write an original and compelling essay from one of the below topics.
How has your education contributed to who you are today?
Describe how you have demonstrated leadership ability both in and out of school.
Why are you the best candidate to receive this Internship?
What are the most important issues facing the retail industry and how does it impact the owners of shopping centers?
Once you submit your application online, you can email both reference letters and your essay to the following email address: firstname.lastname@example.org.
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.