Real Estate Development Accountant

Responsibilities

• Maintain general ledger accounting for real estate development entities, including pre-development, construction, and stabilized properties.
• Record and reconcile development-related transactions including construction costs, developer fees, capitalized interest, soft costs, and funding activity.
• Track construction-in-progress (CIP) and support proper capitalization and close-out of projects upon completion.
• Prepare and post journal entries and perform monthly account reconciliations for development entities.
• Draws, Requisitions & Funding Support:
• Assist in the preparation and review of lender and agency draw packages, including AIA requisitions, supporting schedules and backup documentation.
• Cook with Real Estate Development staff, lenders, and external partners to ensure timely and accurate draw submissions.
• Track sources and uses of funds and reconcile draw activity to the general ledger and project budgets.
• Budgeting, Forecasting & Analysis:
• Support development budgeting and forecasting activities by maintaining detailed cost reports and budget-to-actual analyses.
• Monitor project costs and identify variances, trends, and potential issues for Finance and Real Estate leadership.
• Maintain development cost and funding schedules used for internal reporting, lender reporting, and management review.
• Audit, Cost Certification & Compliance:
• Support year-end financial audits, real estate-specific audits, and agreed-upon procedures by preparing schedules and responding to auditor inquiries.
• Aid with development cost certifications and other third-party reviews required by funders and lenders.
• Ensure documentation aligns with funding agreement requirements, internal policies, and regulatory standards.
• Reporting & Collaboration:
• Prepare internal management reports related to development activity, project costs, and funding status.
• Serve as a liaison between Finance, Real Estate Development, and external stakeholders to resolve accounting and reporting issues.
• Support ad hoc analyses, reporting requests, and special projects related to real estate development and finance.

Qualifications

• Bachelor’s degree in Accounting, Finance, or related field.
• 3–5 years of accounting experience, preferably with real estate development, construction accounting, nonprofit housing, or public-sector financed projects.
• Working knowledge of construction accounting concepts, capitalized costs, development budgets, and project cost tracking.
• Experience supporting lender draw submissions, requisitions, or cost certifications preferred.
• Strong proficiency in Microsoft Excel, including complex spreadsheets, reconciliations, and schedules.
• Experience with general ledger systems and accounting for legal entities, joint ventures, or limited partnerships preferred.
• Strong analytical, organizational, and problem-solving skills with attention to detail.
• Ability to manage multiple deadlines in a fast-paced environment.
• Strong verbal and written communication skills and the ability to work collaboratively across departments.
• Ability to maintain confidentiality and exercise sound judgment.