Oak Brook, IL, US,
60523
Intern
7 November 2024Job details
Description
Inland Private Capital Corporation (“IPC”) is an industry-leading investment management firm, with a focus on institutional quality real estate across a broad range of asset types. The firm has created and sponsored more than 287 private placement real estate offerings, with investments and developments in the Multi-family, Self-storage, Hospitality, Healthcare, Student Housing, Retail, Corporate office, and Industrial sectors. Many of IPC’s offerings were designed for investors seeking replacement property to complete an IRS Section 1031 exchange. IPC is currently recognized as the largest provider of securitized 1031 exchange opportunities in the country. The firm has a national footprint of more than 830 properties, with approximately $11 billion in assets under management. IPC’s parent company, Inland Real Estate Investment Corporation, provides asset management services for IPC’s current and growing portfolio.
The IPC accounting team is comprised of 20 individuals in 3 groups that all report up to the Chief Accounting Officer and Treasurer. Corporate Accounting prepares monthly financial statements for IPC that consolidates into IPC’s top level parent company, The Inland Real Estate Group’s, financial statements. Their primary focus is on the corporate side of the financials. Investor Reporting prepares quarterly investor financial statements for each program as well as year-end tax statements for investors. Their primary focus is on the investor side of the financials. Cash Management focuses on the daily cash transactions such as acquisitions of properties and syndication to investors.
Summer Internship
The summer internship is a ten-week rotational program designed to provide exposure to the IPC accounting 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, financial reporting and analysis, investor reporting and cash flow analysis. During the rotational program, candidates will be exposed to the various groups within the IPC accounting team.
Candidates will work in the functional areas listed below and may perform (but not limited to) the outlined responsibilities.
Corporate Accounting
- Reconcile the general ledger monthly for properties
- Prepare and review monthly consolidating financial statements for properties, and asset management entities
- Assist in variance analysis for properties with investor reporting and property accounting
- Assist in preparation of monthly financial reports, including footnotes
Investor Reporting
- Prepare quarterly operating statements for portfolios, which will be used by asset management to make decisions regarding investor distributions
- Distribute property and portfolio operating statements to investors on a quarterly basis.
- Review property capital expenditures for appropriate reimbursement from owner reserve accounts and lender-held reserve accounts
- Interact with asset management and investor relations on issues regarding property operations
- 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 Oak Brook, 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
- Attention to detail and analytically minded
- Self-motivated, diligent, outstanding communication skills
- You must be a junior in college.
We are a drug-free workplace. Pre-employment background checks and drug screening are performed on all new hires, in accordance with applicable laws and regulations. To the extent permitted by applicable laws and regulations, the Company treats marijuana as an illegal substance, and applicants may be denied employment if a new hire tests positive for marijuana.
We are an Equal Opportunity Employer. We consider applicants for all positions without regard to race, color, religion, sex, national origin, age, sexual orientation, familial, marital, or veteran status, disability, or any other legally protected classes.
We are an E-Verify employer. Please click the following link to learn more.