Job #690: Controller - Randor, PA (2-9-18)
- Job Title: Controller
- Location: Randor, PA
- Salary: $125,000 - $150,000
About the Company:
Livingston Street Capital, LLC is an emerging boutique private equity firm with institutional capital partners focused on commercial real estate investments throughout the United States. Based in Radnor, PA and New York City the company actively makes investments across three investment strategies. These strategies include: mission critical/strategic properties, healthcare properties, and multifamily housing with emphasis on senior housing. The company was founded by Peter Scola and Joseph Fox who have successfully led more than the $20 billion of real estate transactions throughout their careers.
Livingston recently closed (Q3 2017) an equity facility that will provide bridge capital to support their current investment strategies. The company's current strategies center around ultimate syndication of capital as DST (Delaware Statutory Trust) interests. Overall the return profile is considered to be core and core plus. These interests are largely bought by individuals seeking to complete 1031 exchanges. The company closed its first deal (with dedicated investor) in Q4 for that strategy and are actively searching for opportunities. Livingston's goal for 2018 is $150-$200 million in acquisitions. They expect to continue on that pace for the next three years.
Livingston is currently working on launching a mezzanine debt strategy that may be backed by a current investor and/or they will syndicate it as a fund. The company is looking at a dedicated senior housing strategy as well. With these opportunities abound Livingston is still putting together various pieces of their infrastructure because they want a solid foundation that can be built upon in the future. Livingston believes this position to be a vital part of that foundation.
Livingston's goal is to create a multi-strategy investment firm focused on their investment philosophies.
Livingston Street Capital is seeking a strong accounting professional to deal with all of the company's accounting needs and coordinate third party firms. The company's current venture requires an audit and the firm is BDO. The company also engaged EisnerAmper and a local firm to help with accounting and audit prep. As a result, Livingston has created various tiers of checks and balances, but believes there is the need to consolidate and internalize certain functions. Once Livingston syndicates their DST they are required to make (as available) cash distributions. (NOTE: Livingston is buying mainly single tenant leased buildings so distributions are certain.) Equally important is a professional who is willing to take on new projects and help build the company together thus making this opportunity poised for growth.
- 10-15 years of relevant work experience in real estate accounting, finance and to a lesser degree tax
- Undergraduate in Accounting (ideally Masters)
- CPA a must
- Strong accounting knowledge as well as institutional caliber experience in process & controls
- Willingness to be hands on as position is not management (You need to do the work!)
- Ability to work independently and in a growth environment
- Ability to eventually build out a formidable team and manage people
- Effective communication skills
- Highly organized and detail oriented
- Ability to grow and take on projects
- Ability to deal with non-sophisticated counterparties
- Strong Excel, Intuit and Yardi experience (ability to build out systems)
The controller role is ideal for someone looking to leverage their skills and grow. Livingston is looking for someone who will be instrumental to their success and has the potential to transcend current roles. The successful candidate will have the opportunity to help create the process and make it part "their own."
Interested candidates should contact Tom Delezenski at: firstname.lastname@example.org. Please mention that you are a member of EisnerAmper's Friends of the Firm program. Make sure to copy Nkrumah Pierre; email@example.com, and Jennifer Rosener; firstname.lastname@example.org on your email.