01 / Sponsors
Private Equity Sponsors & Syndicators
GP/LP fund accounting, waterfall distributions, preferred return tracking, and quarterly LP reporting.
001Real Estate Accounting & Advisory
Accounting and advisory for the full real estate cycle.
From acquisition to disposition, we handle the numbers.
Propcount is a specialized accounting and advisory firm serving the U.S. real estate industry across every sector, commercial and residential, core and opportunistic, stabilized and transitional. Sponsors, operators, developers, property managers, and brokerages engage Propcount for financial expertise that moves at the speed of real estate.
Vol. 01 · Capabilities & Coverage· Issued for prospective clientsUpdated May 2026
002 Selected Clients & Partners
A short list. Long-standing trust.
Nextitle
Hugh Development
Barnes
Twin Towers
IHG
Hilton
Virzic
JLL
KPMG
John Burns R&C
prop.com
003 Who We Serve
Eight Practice AreasBuilt for the full spectrum of real estate.
Propcount works across every sector: acquisitions, development, value-add repositioning, stabilized holds, refinancings, and dispositions. Whether the capital structure is a single-asset LLC or a multi-tiered fund with institutional equity, the engagement is built around the deal.
02 / Investors
Institutional & Private Investors
Portfolio-level financials, asset-level NOI analysis, and hold/sell modeling across all investment strategies.
03 / Developers
Developers, All Product Types
Draw accounting, job cost reporting, construction budget management, and lender compliance packages.
04 / Operations
Operators & Property Managers
Rent rolls, CAM reconciliations, owner distributions, trust accounting, and 1099 compliance.
05 / Brokerage
Real Estate Brokerages
Commission tracking, agent split accounting, transaction-level P&Ls, and year-end reporting.
06 / Family Office
Family Offices, DSTs & UPREIT Structures
Complex entity accounting, DSCR covenant monitoring, and multi-tiered ownership consolidations.
07 / Title & Escrow
Title Companies & Settlement Agents
Escrow account reconciliation, earnest money tracking, disbursement ledgers, trust account compliance, HUD/ALTA settlement statement reconciliation, and title premium revenue accounting, purpose-built for the fiduciary obligations and transactional volume title operations carry.
08 / Tokenized RE
Tokenized Real Estate Platforms & Digital Asset Sponsors
Token issuers, RWA (real-world asset) platforms, and digital asset sponsors structuring fractional real estate ownership require the same rigorous accounting and advisory discipline as any institutional capital stack, with added complexity around token economics, on-chain distributions, and regulatory compliance. Propcount supports the financial infrastructure behind tokenized real estate, from deal structuring through investor reporting.
•
If the asset produces income or sits on a balance sheet, we can support it.
004 Capabilities
Accounting & AdvisoryPrecision accounting. Deal-ready analysis.
From the first draw requisition to year-end close, and from pre-acquisition underwriting through recapitalization and exit, Propcount handles the full cycle with asset-class fluency and lender-grade accuracy.
A.01
Draw Accounting & Construction Fund Management
AIA G702/G703 requisition review, lien waiver tracking, budget-vs-actual reconciliation, change order management, and lender draw package preparation.
A.02
Project Accounting & Job Costing
Dedicated project ledgers tracking hard costs, soft costs, land basis, developer fees, and carried interest, structured to mirror the construction budget and satisfy GAAP and lender reporting.
A.03
Property-Level & Portfolio Accounting
Asset-level income statements, balance sheets, and cash flow statements across all property types, rolling up cleanly into portfolio reporting.
A.04
Property Management Accounting
Rent roll reconciliation, CAM reconciliation and true-up letters, security deposit accounting, owner distributions, and trust account management. Compatible with Yardi, AppFolio, MRI, Buildium, and Propertyware.
A.05
Equity Waterfall & Investor Reporting
Preferred return calculations, IRR and equity multiple tracking, capital account statements, and LP financial packages coordinated with fund administrators and tax counsel at year-end.
A.06
Real Estate Brokerage Accounting
Commission receivables, agent splits, transaction fees, desk fee income, and franchise fee reconciliations. Deal-level P&Ls for every closed transaction.
A.07
Title Company & Escrow Accounting
Trust account reconciliation, earnest money ledgers, disbursement accounting, HUD/ALTA settlement statement reconciliation, title premium revenue recognition, closing fee income, and state escrow compliance reporting, structured for the fiduciary obligations and transactional throughput of title and settlement operations.
A.08
Tokenized Real Estate Accounting
Accounting for tokenized real estate structures requires fluency in both traditional real estate finance and digital asset mechanics. Propcount handles entity-level and token-level accounting for RWA platforms, fractionalized ownership structures, and blockchain-based real estate funds, including token issuance cost capitalization, on-chain distribution reconciliation, digital wallet tracking, smart contract revenue recognition, and token holder reporting, aligned with SEC Regulation A+, Regulation D, and Regulation CF frameworks.
A.09
Multi-Entity & Fund Accounting
Intercompany eliminations, consolidations, and fund-level reporting across LLCs, LPs, REITs, DSTs, and UPREITs.
A.10
Month-End Close & Lender Compliance
Fixed-schedule closes, bank reconciliations, DSCR calculations, debt yield reporting, and reserve account reconciliations built to lender-specific requirements.
B.01
Financial Underwriting
Pro forma modeling for acquisitions and development across all asset classes: NOI projections, debt service schedules, levered and unlevered IRR, equity multiple, and cash-on-cash yield.
B.02
Feasibility Studies
Site-level economics, submarket supply-and-demand analysis, absorption projections, and development cost benchmarking to determine whether a project pencils before capital is committed.
B.03
Valuations
Income capitalization, DCF, and sales comparison valuations for stabilized assets, transitional properties, and development-stage projects, used for equity raises, buyouts, estate planning, and lender appraisal reviews.
B.04
Capital Stack Structuring & Debt Advisory
Senior, mezzanine, preferred equity, and common equity analysis. Agency vs. bridge vs. construction loan comparisons, promote structure modeling, and waterfall design across the full capital stack.
B.05
Acquisition & Due Diligence Support
Trailing income and expense review, rent roll analysis, expense normalization, and pro forma re-underwriting to identify variances between seller representations and actual asset performance.
B.06
Refinance & Recapitalization Analysis
Bridge-to-perm structuring, agency debt sizing (Freddie, Fannie, FHA/HUD), DSCR sensitivity analysis, rate cap valuation, and breakeven occupancy projections.
B.07
Construction Budget Review & Cost Certification
Independent hard cost and soft cost review, contingency analysis, and cost certifications for HUD/FHA, LIHTC, and third-party lender or equity partner requirements.
B.08
Investor Deck & PPM Financial Modeling
Sources and uses, return tables, pro forma income statements, and sensitivity analyses structured for institutional LPs, family offices, and private investors.
B.09
Tokenization Structuring & Advisory
Advising sponsors and platforms on the financial architecture of tokenized real estate offerings: token economics design, asset valuation for on-chain issuance, offering structure analysis under Reg A+, Reg D, and Reg CF, projected distribution waterfall modeling for token holders, and pro forma underwriting built for digital asset investors. Propcount bridges institutional real estate underwriting discipline with the evolving regulatory and financial reporting requirements of the RWA market.
005 How We Work
Four-Stage EngagementFrom engagement to execution.
Every engagement is structured around the deal, not a template. The chart of accounts, reporting cadence, and capital-partner deliverables are built up front so nothing is improvised when it counts.
01
Onboarding & Structure Review
Entity structure, capital stack, loan documents, and reporting obligations are mapped upfront. The chart of accounts and reporting framework are built around the deal, not a generic template.
02
Active Accounting & Advisory
Monthly closes, draw cycle management, covenant compliance reporting, and investor packages on a fixed schedule. Advisory runs in parallel, from pre-acquisition underwriting through stabilization and exit.
03
Investor, Lender & Partner Reporting
Quarterly and annual financials, waterfall distributions, DSCR certifications, and lender packages delivered on time to every capital partner.
04
Year-End, Tax Coordination & Exit
Depreciation schedules, cost segregation coordination, K-1 and 1099 preparation, disposition accounting, and gain/loss analysis, coordinated directly with tax counsel and auditors.
006 Tech Stack
Platforms & ToolsFluency across the platforms your team already uses.
Active across the systems that run the work, from property management and construction draws to fund accounting, settlement, and treasury.
Bill.com
AppFolio
Yardi
RentRedi
Buildium
Resware
Beanworks
Gusto
Simplifile
Tres
Atlassian
Northspyre
Agora
Ramp
QBO
Xero
Sage
NetSuite
Microsoft Dynamics
007 Why Propcount
Five DifferentiatorsWhat sets Propcount apart.
Five things that separate Propcount from a generalist accounting partner.
01
We Speak Real Estate.
DSCR covenants, waterfall mechanics, CAM true-up timing, draw package requirements. We know the language and the stakes. No onboarding curve, no explaining your business.
02
Lender-Ready. Investor-Grade.
Financial statements, draw packages, and advisory models prepared to Freddie Mac, Fannie Mae, CMBS, private credit, and institutional equity standards.
03
Clean Books at Every Stage.
Sloppy financials kill deals at refi, at sale, and at LP distribution. The books stay current throughout the hold period so the file is clean when it counts.
04
Asset-Class Depth.
Active practices across multifamily, office, industrial, retail, mixed-use, hospitality, self-storage, NNN, LIHTC, and fund/syndication structures.
05
Senior-Level Attention.
Engagements are led by experienced real estate finance professionals, not rotating junior staff.
008 Asset Classes Served
Every Transaction TypeEvery asset class. Every transaction type.
Active practices across the entire institutional-quality real estate landscape, from garden-style multifamily to LIHTC, from cold storage to senior housing, from syndications to tokenized RWA platforms.
01
Multifamily
Garden, Mid-Rise, High-Rise, BTR
02
Office
Class A, B, and Medical
03
Industrial & Logistics
Warehouse, Flex, Cold Storage
04
Retail
NNN, Strip Center, Anchored, Power Center
05
Mixed-Use
Residential over Retail, Live-Work, Transit-Oriented
06
Hospitality
Full-Service, Select-Service, Extended Stay
07
Self-Storage
08
Single-Family Residential & BTR Communities
09
Land & Entitled Lots
10
Affordable Housing & LIHTC
11
Senior Housing & Medical Office
12
Real Estate Funds & Syndications
13
Tokenized Real Estate & RWA Platforms
009 In Their Words
Selected ReferencesWhat the market says.
References available on request. The themes are consistent: consistency across portfolios, lender-grade rigor, and dependable execution against capital-markets deadlines.
The underwriting model Propcount delivered held up through two rounds of lender scrutiny and an LP due diligence process. It was built the way capital markets professionals actually think.
Our books were messy, reporting took forever, and month-end was always stressful. Propcount came in, organized everything, and built processes that actually made sense for property management. Now we can focus on operations instead of constantly worrying about accounting issues.
In the title business, timing and accuracy matter a lot, and Propcount's team was always reliable. They helped us clean up reporting, improve processes, and gave us confidence that the financial side was being handled properly.
010 Common Questions
Frequently AskedFrequently asked.
A short list of the questions we get most often from prospective clients. Don’t see yours? Send it over, we’ll answer directly.
Yes, all asset classes, all transaction types. If the asset produces income or sits on a balance sheet, Propcount can support the accounting and advisory work around it.
Yardi, MRI, AppFolio, Buildium, QuickBooks, and Sage. For complex fund and development structures, purpose-fit general ledgers are built outside property management platforms when needed.
That's the standard setup. Propcount handles ongoing accounting, financial modeling, and advisory. The CPA handles tax returns. The attorney handles legal structure. We produce the clean books and financial packages that make both jobs efficient.
Yes. Consolidated reporting across all assets and entities, regardless of geography, with the asset-level and entity-level detail lenders and capital partners require.
011 Get Started
Your next deal deserves clean books and sharp analysis.
Whether the next move is an acquisition, a refinance, a capital raise, or a disposition, schedule a consultation and we’ll walk through the deal, the reporting obligations, and how Propcount fits.
Office
9041 Garland Rd #1008
Dallas, TX 75218
United States
Dallas, TX 75218
United States
Email