Real Estate Accountant

Job Description

Job Description

Job Opening : Real Estate Accountan

Location : Silver Spring, MD (Hybrid)

Company : Banneker Ventures

Employment Type : Full-time

Salary Range : $75,000 – $90,000 + Bonus + Benefits

Experience Level : Mid to Senior (2-5 Years)

Reporting to the CFO, the Real Estate Accountant is responsible for performing professional-level accounting work related to the maintenance, analysis, and reporting of financial records for real estate development and construction projects. The role requires strong knowledge of construction and real estate accounting principles, with an emphasis on general ledger management, job costing, and accounts receivable. Key responsibilities include managing monthly closings, maintaining accurate accounting records and files, preparing and organizing financial reports and analyses, and ensuring compliance with company policies and industry standards. The Real Estate Accountant will also support draw requests, work-in-progress schedules, and other project-related reporting. This position may also participate in ad hoc projects, process improvements, and general office support as needed.

Essential Duties and Responsibilities :

Prepare and maintain pre-development budgets, including land acquisition costs, zoning, permitting, and soft costs.

• Track feasibility study expenses and compare them against approved budgets.
• Model project pro formas, including anticipated financing costs, developer fees, and contingency allowances.
• Record and categorize all pre-development expenditures (legal, architectural, engineering, due diligence).
• Maintain general ledger accounts for pre-development costs to ensure accurate capitalization.
• Monitor use of equity contributions and pre-construction financing draws.
• Prepare draw requests for lenders and investors, including supporting documentation for each cost incurred.
• Track pre-development loan interest, fees, and repayment schedules.
• Produce monthly pre-development financial reports for project managers and executives.
• Assist in variance analysis between budgeted and actual costs.
• Provide financial input for investor updates and capital partner reporting.
• Maintain detailed job cost reports by cost code, including committed costs vs. actuals.
• Process contractors invoices and progress billings, ensuring alignment with contract terms and percentage of completion.
• Prepare monthly construction loan draw packages with all supporting invoices, lien waivers, and compliance documents.
• Reconcile lender draw disbursements with recorded project costs.
• Monitor availability of contingency funds and adjust forecasts accordingly.
• Produce development-phase financial statements for management and investors.
• Ensure compliance with loan agreements, investor reporting requirements, and audit requests.
• Monitor insurance costs, bonds, and other project-related financial obligations.

Additional Performance Factors :

Qualifications :