Financial Accountant; Development Accountant

Job Details

Job Location:

Dev Co MN - Minneapolis , MN 55426
Position Type:
Full Time
Salary Range: $81,000.00 - $ Salary/year

Dev Co is seeking a full-time Financial Accountant to join our team. This position may be based in our Bellevue, Washington office or St. Louis Park, Minnesota office. This position will report directly to the Financial Accounting Manager.

The Financial Accountant is responsible for accounting and financial reporting for real estate development projects throughout the development lifecycle, from predevelopment through construction, lease-up/conversion, and transition to stabilized operations. This role maintains accurate project financial records, records development and financing activity, performs account reconciliations and financial analysis, supports project closings and owner funding activities, and coordinates with Development, Construction, Treasury, Asset Management, and third-party property management.

The Financial Accountant also supports financial audits, process improvements, and other accounting initiatives.

Dev Co Residential is a family of companies including Dev Co US Construction, Dev Co Preservation and HNN Communities. Dev Co Residential is a privately held real estate investment company with almost 40 years of experience. Founded in 1994, the company and its affiliates develop, own, and manage over 14,000 affordable and market rate apartment units throughout the United States. Headquartered in Bellevue, Washington, Dev Co is one of the largest providers of affordable housing in Washington State.

Together, we professionally develop, build and own multi-family affordable apartment communities. We understand the importance of affordable housing and make it our mission to keep quality our top priority.

Dev Co Residential Group’s mission is to develop, construct and manage high-quality multifamily housing that provides stability, fosters growth and delivers long-term value to our residents and stakeholders.

Dev Co’s vision is to be a leading developer, builder and manager of quality multifamily housing throughout the western US.

• Quality:
  
  We deliver excellence in every aspect of our work.
• Commitment:
  
  We honor our promises with unwavering dedication.
• Teamwork:
  
  We achieve more together through collaboration and respect.
• Integrity:
  
  We uphold the highest ethical standards in all we do.

$81,000 to $110,000 in annual salary (depending on experience level) + annual performance bonus target of 7.5%

Monday-Friday with a hybrid in-office schedule as agreed upon with the hiring manager.

• Maintain accurate accounting records for development and predevelopment entities throughout the project lifecycle, including preparation of journal entries and review of project activity for appropriate accounting treatment.
• Reconcile balance sheet accounts, bank accounts, Construction in Progress (CIP), development and construction loans, intercompany balances, and other project-related accounts.
• Record and reconcile project closings and financing activity, including acquisitions, debt and equity funding, owner contributions, equity installments, development fees, and conversions.
• Prepare and support owner cash calls, project funding requests, and construction draw activity as needed.
• Prepare and analyze monthly financial statements, project reporting packages, and account reconciliations; monitor project costs, cash activity, funding, and significant outstanding accounting items.
• Coordinate with Development, Construction, Treasury, Asset Management, third-party property management, lenders, investors, and other stakeholders to resolve project accounting and funding matters.
• Support…