Development Accountant

Development Accountant

Full Time Minneapolis, MN, US

7 days ago Requisition

Salary Range: $65,000.00 To $85,000.00 Annually

Job Type:Regular full-time
FLSA Status:Exempt
Pay Type:Salary
Compensation:$65,000 - $85,000 annual base salary
Reports To:Assistant Controller
Work Location:LaSalle Plaza - Downtown Minneapolis, on-site
Schedule:Monday-Friday, 8am - 5pm (occasional early mornings, evenings, or special events as needed)

Hempel is a commercial real estate firm based in Minnesota with investments across the Midwest. Hempel has experience on every level of real estate transactions, and we specialize in new and adaptive re-use projects. Since 2001, Hempel has acquired and developed more than $1 billion worth of office, retail, multi-family residential, hospitality, industrial, and parking. Hempel Real Estate is a team of hard-working innovators who are passionate about making lives better by making buildings better.

We care about more than just providing exceptional commercial real estate services. We work hard to add value to each project.

Making lives better by making buildings better.

Great missions are built on strong cultures - and strong cultures start with shared values. Here's what we stand for, and what we look for in our teammates:

• We MAKE IT HAPPEN. We solve problems that others can’t. We see opportunities where others don’t.
• We are GRITTY. We possess courage and resolve, showing persistence in the face of challenges.
• We are SQUARED AWAY. Implies everything is in its rightful place, and the situation is well-managed and under control.
• We are INQUISITIVE. We can formulate questions that lead to meaningful and insightful answers.

Hempel Real Estate is seeking a highly detail-oriented Development Accountant to join our finance team. This individual will be responsible for providing comprehensive accounting support for real estate development projects from inception through stabilization. This role ensures that project costs are accurately tracked, reported, and analyzed to support sound financial decision-making and compliance with internal and external reporting requirements.

This Development Accountant position provides an excellent opportunity to expand on existing experience with accounting systems and more specifically, commercial real estate accounting. The ideal candidate is highly organized, proactive, resourceful, detail-oriented, and has excellent follow-through. This position reports directly to the Assistant Controller, while fully supporting and working closely with additional finance and accounting team members.

• Project Accounting
  • Maintain and manage the general ledger for multiple development projects
  • Track and code construction and development costs to appropriate categories
  • Reconcile project accounts and oversee loan draw schedules
  • Assemble and review lender/equity draw packages with required documentation
• Prepare monthly balance sheet workbook reconciliations for internal review
• Produce monthly/quarterly financial reports with budget-to-actual comparisons
• Assist with year-end audit/tax preparation and coordination with external teams
• Budgeting & Forecasting
  • Lead the preparation and review of initial project budgets and subsequent revisions
  • Track and assess budget changes, change orders, and contingency use
  • Collaborate closely with senior development managers and executives to maintain accurate forecasts
• Compliance & Controls
  • Ensure compliance with GAAP and internal policies and procedures
  • Assist in building internal controls and documentation for development accounting
  • Assist with special projects as assigned
  • Other duties as assigned

• Bachelor’s degree in Accounting, Finance, or related field
• 3+ years of accounting experience (1+ years in real estate development or construction preferred)
• Knowledge of GAAP and real estate project accounting
• Strong attention to detail and excellent organizational and time management skills
• Excellent verbal and written communication and problem-solving skills
• Demonstrated ability to manage multiple projects,…