Property Accountant

Leoforce; Silver Spring (MD); On-site; USD 80,000 - 100,000; Full time

Benefits offered by this job

Competitive compensation

Comprehensive benefits

Generous PTO

Job summary

Leoforce, based in Maryland, seeks a Development Accountant to manage budgets, forecasts, and financial models for development projects across multiple sites.

You will maintain ledgers, prepare monthly statements, and support audits and investor reporting, collaborating with lenders, partners, and senior leadership.

Qualifications

• Bachelor's degree in Accounting, Finance, or a related field required.
• Minimum 5-7+ years of accounting experience within real estate development, construction, property accounting, or project-based environments.
• Strong understanding of development accounting principles, project costing, capitalization rules, and financial reporting.

Responsibilities

• Prepare and maintain development budgets, forecasts, and financial models throughout the project lifecycle.
• Track pre-development costs including land acquisition, due diligence, zoning, entitlement, permitting, legal, engineering, and architectural expenditures.
• Develop and maintain project pro formas, cash flow forecasts, and financial feasibility analyses.
• Record, classify, and monitor development expenditures in accordance with capitalization policies.
• Maintain general ledger accounts, project cost schedules, and development capitalization records.
• Monitor equity contributions, construction financing activity, and funding requirements.
• Prepare lender draw requests and investor reporting packages with supporting documentation.
• Track loan balances, interest accruals, financing fees, and repayment schedules.
• Reconcile development-related bank accounts, loan accounts, and project funding transactions.
• Produce monthly development financial reports for management, lenders, and investment partners.
• Perform budget-to-actual variance analysis and provide recommendations to improve project performance.
• Monitor project costs by phase, project, and cost category to ensure alignment with approved budgets.
• Manage accounts payable related to development projects, including consultant, contractor, and vendor invoices.
• Track and forecast project contingencies, cash requirements, and cost-to-complete estimates.
• Support acquisition, disposition, refinancing, and capitalization activities as needed.
• Prepare monthly and quarterly financial statements for development entities and projects.
• Assist with annual audits, tax return preparation, and investor reporting requirements.
• Ensure compliance with loan agreements, partnership agreements, and investor requirements.
• Support process improvement initiatives and special projects within the accounting and finance function.

Skills

Budgeting & Forecasting

Financial analysis

General ledger

Excel advanced

Stakeholder communication

Education

Bachelor's degree in Accounting or Finance

Tools

NetSuite

Yardi

MRI

Entrata

QuickBooks

Sage Intacct

Job description

Job Description

Experience: Mid Level

Salary: $80,000 - $100,000 per year

Job Details

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Key Responsibilities & Duties

• Prepare and maintain development project budgets, forecasts, and financial models throughout the project lifecycle.
• Track pre-development costs including land acquisition, due diligence, zoning, entitlement, permitting, legal, engineering, and architectural expenditures.
• Develop and maintain project pro formas, cash flow forecasts, and financial feasibility analyses.
• Record, classify, and monitor development expenditures in accordance with capitalization policies.
• Maintain general ledger accounts, project cost schedules, and development capitalization records.
• Monitor equity contributions, construction financing activity, and funding requirements.
• Prepare lender draw requests and investor reporting packages with supporting documentation.
• Track loan balances, interest accruals, financing fees, and repayment schedules.
• Reconcile development-related bank accounts, loan accounts, and project funding transactions.
• Produce monthly development financial reports for management, lenders, and investment partners.
• Perform budget-to-actual variance analysis and provide recommendations to improve project performance.
• Monitor project costs by phase, project, and cost category to ensure alignment with approved budgets.
• Manage accounts payable related to development projects, including consultant, contractor, and vendor invoices.
• Track and forecast project contingencies, cash requirements, and cost-to-complete estimates.
• Support acquisition, disposition, refinancing, and capitalization activities as needed.
• Prepare monthly and quarterly financial statements for development entities and projects.
• Assist with annual audits, tax return preparation, and investor reporting requirements.
• Ensure compliance with loan agreements, partnership agreements, and investor requirements.
• Support process improvement initiatives and special projects within the accounting and finance function.

Qualifications Needed

• Bachelor's degree in Accounting, Finance, or a related field required.
• Minimum 5-7+ years of accounting experience within real estate development, construction, property accounting, or project-based environments.
• Strong understanding of development accounting principles, project costing, capitalization rules, and financial reporting.
• Experience preparing and maintaining development budgets, project pro formas, and cash flow forecasts.
• Experience with construction financing, lender draw requests, and loan compliance reporting preferred.
• Familiarity with real estate development processes including land acquisition, entitlements, permitting, and construction phases.
• Experience preparing monthly financial statements and management reporting packages.
• Strong knowledge of general ledger accounting, account reconciliations, and month-end close procedures.
• Proficiency in Microsoft Excel, including advanced financial modeling and reporting functions.
• Experience with NetSuite, Yardi, MRI, Entrata, QuickBooks, Sage Intacct, or similar accounting/ERP systems preferred.
• LIHTC, affordable housing, multifamily, mixed-use, commercial, or hospitality development experience is a plus.
• Ability to analyze budgets, forecasts, project performance, and financial trends.
• Strong attention to detail, organizational skills, and ability to manage multiple projects simultaneously.
• Excellent communication skills with the ability to interact effectively with project teams, lenders, investors, consultants, and senior leadership.

Preferred Experience

• Real estate development accounting.
• Construction loan administration and lender draws.
• Capital partner and investor reporting.
• Acquisition and disposition accounting.
• Affordable housing and LIHTC developments.
• Project-based accounting environments with multiple active developments.
• NetSuite, Yardi Voyager, or similar real estate accounting platforms.

A bit about us:

Founded nearly two decades ago and based in Maryland, with additional operations throughout Washington, DC, Maryland, and New York City, we are a growing real estate development, construction, advisory, and property management organization focused on building vibrant and sustainable communities. Our team develops affordable and workforce housing, mixed-use developments, and large-scale commercial projects while creating opportunities for underrepresented professionals within the development and construction industries. With more than $1.5 billion in active projects, we are committed to delivering impactful developments that strengthen the communities we serve.

Why join us?

• Competitive Compensation and bonus opportunity!
• Career Growth Opportunity within a rapidly expanding development organization
• Exposure to $1.5B+ in active development projects
• Comprehensive Benefits Package
• Generous PTO & Paid Holidays
• Collaborative Environment with direct exposure to Executive Leadership and CFO
• Opportunity to gain experience across real estate development, construction, and property management operations
• Stable and growing organization with a strong mission-driven culture

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