Development Project Accountant

Job Description

Summary

Avdoo & Partners, a fully integrated, privately held real estate organization is seeking an experienced and detail-oriented Project Accountant. The ideal candidate would have worked in and have considerable familiarity with the real estate industry, construction accounting, and property accounting. The candidate must have a strong understanding of the overall accounting process for new development projects and a multi-asset portfolio. This position will require the candidate to have extensive experience with construction requisitions, working with lenders, reporting on capital accounts for investors and distributions, as well as working with attorneys to oversee the closing process of condominium projects and for sale projects.

This position is ideal for someone who is meticulously organized, self-motivated, detail-oriented, diligent, with a strong ability to take initiative alongside following procedures and guidelines. Someone whose integrity is at their core can work under pressure to meet deadlines and has the ability to multi-task.

In this position, you will report directly to the managing principles and work closely with the entire development team, including project managers and the field team.

Responsibilities

• Preparation and review of monthly requisitions and coordination with lenders
• Process funding requests and draws requests for projects with construction loans
• Ensure complete and timely loan draws are prepared, and vendors are paid in a timely manner
• Provide construction team oversight to approve buyout of trade contracts, maintain and balance budgets and ensure timely project completion and adherence to schedules
• Prepare monthly audits of project tracking costs against investment approved budgets
• Perform investor relations functions including monthly project construction updates, financial updates, review of project financial statements and tax returns, fund management
• Prepare and distribute monthly and quarterly financial reports for development companies internally and to external partners, including investors and lenders
• Prepare monthly financial statements, including income statements, balance sheets, and cash flow statements
• Financial modeling for prospective sites to determine valuation, available development incentives, and project feasibility
• Responsible for various company-wide risk management and internal control functions, including procuring construction and condominium insurance coverage, resolving mechanic's liens, and surety bonds
• Assists with the transaction closing process, review settlement statements for purchases and sales, prepares opening entries/gain on sale calculations
• Strong ability to reconcile accounts, expenses, perform various analyses, and monthly/quarterly reports, with excellent attention to detail
• Support month-end and year-end close process
• Responsible for all vendor payables, mortgage payments, property & reimbursable expenses, various fees, construction loan reconciliations, project disbursements, etc.
• Processing payroll including time entry, intercompany cost allocations & billing between the various projects/properties
• Execute timely and accurate processing of client requisitions and subcontractor payments
• Maintain and report on capital accounts for investors
• Calculate preferred returns, manage distributions of equity capital, and profits for both stabilized and for sale projects
• Responsible for management of credit cards, including utilization of third-party apps and month-end reconciliations
• Carry out any other duties that may be deemed appropriate to this role

Required Experience and Qualifications

• Must have at least three (3) years of experience as a staff, construction, or property accountant within real estate (required)
• Bachelor’s degree in accounting or finance (required)
• Prior experience working in public accounting is a plus but not required
• AIA Documents G702/G703, and bank requisition for construction (required)
• Experience with construction requisitions, project budget oversite, reporting on capital accounts for investors as well as handling distributions for both stabilized and for sale projects
• In-depth working knowledge of QuickBooks, Microsoft Office
• Processing Payroll
• Thorough knowledge of accounting principles and procedures
• Experience with creating financial statements and overseeing budgets
• Experience with general ledger functions and the month-end/year-end close process, managing closings
• Excellent accounting software user and administration skills
• Strong verbal and written communication skills
• Ability to prioritize and operate proactively
• A dynamic and diverse background in various combined sectors, including but not limited to corporate, development, architecture, design, and construction is a plus

Compensation

Base Salary

Performance Bonus

Health Benefits

401-K

About Avdoo & Partners

Avdoo & Partners Development is a fully integrated, privately held real estate organization with extensive experience in all aspects of the asset life cycle. Our projects feature quality construction and superior materials while encompassing leading technology in energy efficiency and sustainability. Through robust collaborations with our partners, we design and build projects that speak to the community and fit into the architectural fabric of the neighborhoods they enhance. Our broad portfolio across multiple asset categories includes substantial residential and mixed-use projects.

With every development, we strive to enhance the fabric of each local community. Attracting best-in-class talent has consistently been a key element of our success. With a diverse background in acquisitions, design, development, construction, leasing, and asset management, our in-house team with over 100 years of combined experience, can meticulously manage every facet of the development process from site identification through project sell-out.

At Avdoo & Partners Development, we believe that buildings that make an impact are not built overnight, they are built to transform lives and communities.