Senior Construction Project Accountant

Job Description

Senior Construction Project Accountant

American Real Estate Partners (AREP) is a leading institutional fund manager and real‑estate partner headquartered in Washington, DC. AREP manages more than $13 billion in assets across the United States, with a strong focus on data centers, residential, industrial, and office properties.

AREP’s Power House Data Centers, a wholly owned division of AREP, develops and owns next‑generation data centers and delivers technical real‑estate solutions for hyperscalers nationwide.

Reports to the Senior Manager, Project Accounting. The role requires a strong background in cost management and experience managing complex, fast‑paced projects within the construction sector.

• Perform construction project accounting for interior, capital building renovations, and development work within the Job Cost Module of the Financial Accounting system. Manage project budgets, ensure cost control, and apply costs to budget line‑items while adhering to company policies, procedures, and internal control requirements.
• Review daily assigned projects to maintain accuracy of project budget and timeline. Track any changes, including scope modifications or unforeseen issues that impact the budget and funding sources.
• Review and manage contracts to ensure compliance with project scope and legal requirements. 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, coding job, contract, cost code, and paying applications, release of liens, insurance certificates, bonds, etc. Ensure proper coding 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. Identify mis‑coded costs, over/under billing analysis, and monthly project accruals. Report on project financial performance, including 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 cost adjustments in conjunction with the review of Monthly Job Cost Reports and General Ledger accounts for accurate monthly project costs.
• Review monthly construction/development management fee invoices for accuracy of fee calculation.
• Review Project forecast and analyze actuals vs forecast costs to ensure accuracy of overall recorded costs, remaining costs to complete budget, and lender escrow budgets to identify cash needs.
• Perform project close‑out reviews to include accounting and construction systems and 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 timely property financial reporting package.

• Build deep customer relationships with legal, accounting, construction, leasing, acquisitions, and investors.
• Anticipate and address barriers that affect asset management.
• Provide high attention to detail and accurate research and reporting.
• Respond promptly to management and general contractors’ requests.
• Regularly review and reinforce current procedures.
• Work collaboratively with co‑workers and management through trust and transparency.
• Handle multiple competing deadlines and generate a detail‑oriented work product.
• Communicate effectively orally and in writing.
• Strong working knowledge of Microsoft Office Suite.
• Data Center experience preferred.
• Commercial Real Estate experience.

EDUCATION and/EXPERIENCE – Bachelor’s Degree in accounting or finance (preferred) or…