Senior Project Accountant (Data Center Development Portfolio)

Job Description

Job Description

Headquartered in the Greater Washington area, American Real Estate Partners (AREP) is a US-based leading institutional fund manager and real estate partner with over $13 billion deployed across key U.S. markets. Specializing in data center, residential, industrial, and office assets, AREP has acquired more than 34 million square feet of Class A real estate and currently manages over 25 million square feet.

PowerHouse Data Centers, a wholly owned division of AREP, is a developer and owner of next-generation data centers and provides technical real estate solutions for hyperscalers across the country. Backed by strategic joint venture partnerships, PowerHouse leverages its proven leadership and best-in-class technical expertise to deliver innovative real estate solutions.

Senior Construction Project Accountant (Data Center Development Portfolio)

Job Description:

The Senior Project Accountan t reports to the Senior Manager, Project Accounting. This position requires a strong background in cost management with experience managing complex, fast-paced projects within the construction sector. Provide support to multiple departments within the organization related to projects assigned.

Essential Duties & Responsibilities:

• Perform Project Accounting for various construction project types including interior, capital building renovations and development work within the Job Cost Module of the Financial Accounting system. To include managing project budgets, ensuring cost control, application of costs to budget line-items and to ensure adherence with all Company policies, procedures, and internal control requirements.
• Review daily assigned projects to maintain accuracy of project budget and project timeline. To ensure project costs are aligned with the project forecast & schedule. Track any changes, including scope modifications or unforeseen issues that can impact the budget and/or funding sources.
• Review and manage contracts to ensure compliance with project scope and legal requirements and adherence to contractual terms. Reconcile contract costs for each project to ensure accurate monthly billings to meet company and lender requirements.
• Review daily Accounts Payable batch posting for accuracy to ensure proper coding job, contract, cost code including review of all pay applications, release of liens, insurance certificates, bonds, etc. For accuracy before posting cost to the project and G/L.
• Prepare monthly draw Packages in accordance with Lender requirements for review and approval.
• Reconcile and monitor capital funding to ensure timely payment of construction invoices Prepare weekly job cost payable packages for review and approval.
• Prepare, analyze, and distribute monthly job cost reports for assigned projects to identify any mis-coded costs, over/under billing analysis and monthly project accruals. Report on project financial performance, including any changes or variations to original cost estimates.
• Identify potential risks to project cost, schedule, or quality and implement mitigation strategies to minimize impact.
• Perform monthly budget revisions and job costs adjustment in conjunction with the review of the Monthly Job Costs Reports and the General Ledger accounts to ensure accurate monthly project costs.
• Review monthly construction/development management fee invoices to ensure accuracy of the fee calculation.
• Review Project forecast and analyze actuals vs forecast costs to ensure accuracy of over-all recorded costs and remaining costs to complete budget against projects equity/ lender escrow budgets to identify cash needs.
• Perform project close out reviews to include accounting and construction systems as well as audit project documentation to ensure correct cost & fee analysis each quarter.
• Work cohesively with extended project teams including Accounting, Construction, Property Management and Asset Management
• Respond to internal customers' daily inquiries relating to assigned projects.
• Ensure all deadlines from extended Project Team are met for all monthly accounting deliverables to ensure timeliness of the property financial reporting package.
• Provide support as requested

Key Competencies:

• Able to build deep customer relationships by providing high-quality interactions with legal, accounting, construction, leasing, acquisitions, and investors.
• Ability to anticipate any barriers that may affect asset management.
• Able to provide high attention to detail and accurate research and reporting.
• Ability to respond promptly to management and general contractors' requests.
• Regularly review and reinforce current procedures.
• Able to work collaboratively with co-workers and management through trust and transparency.
• Ability to roll up the sleeves and get the job done.
• Ability to handle multiple competing deadlines and generate a detail-oriented work product.
• Ability to communicate effectively orally and in writing.
• Strong working knowledge of computer software, including Microsoft Office Suite.
• Data Center experience preferred.
• Commercial Real Estate experience.

Qualifications:

EDUCATION and/or EXPERIENCES - Bachelor's Degree in accounting or finance preferred or equivalent years of experience. Minimum of 5 years of project accounting experience with a minimum of 3 plus years in construction accounting. Relevant experience in commercial real estate and/or general contractor field strongly preferred.

COMMUNICATION SKILLS - Ability to read and interpret documents such as contracts, construction pay applications, correspondence, reports, and procedure manuals. Strong written and oral communications

COMPUTER SKILLS - Highly proficient in Microsoft Office (Outlook, Word and Excel) Bluebeam, ACC Deck. Demonstrated understanding of automated accounting systems -- MRI, Yardi along with Construction Systems such as Procore, JD Edwards, Trimble and SAGE, etc.

AREP offers a competitive benefits package that includes medical, dental, and vision coverage for you and your eligible family members, a Flexible Spending Account (FSA), life and supplemental life insurance and short and long-term disability insurance. Our package includes Paid Time Off, Parental Leave, 401(k) plan with employer match, Employee Assistance Program and Employee Discount Program.

AREP is an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin or ancestry, physical or mental disability, as well as any other category protected by applicable federal, state, or local laws.

If you require special accommodation, please email View email address on us.fitly.work.

AREP does not accept unsolicited resumes or identifiable candidate information from third-party recruiters. Any unsolicited information will not be considered for engagement purposes.