Catalyst is a national, full-service healthcare real estate investment firm. Our platform of integrated real estate deliverables is specifically designed for the ever-evolving landscape of healthcare. Our team seeks to positively impact healthcare with strategic investment in development, acquisition, and strategy services. For more information, please visit catalysthre.com.
Reporting to the Supervisor of Development & Construction Accounting, the Construction Property Accountant owns the full accounting cycle for an assigned portfolio of active healthcare real estate development and construction projects, typically five to ten projects. This role is responsible for job cost integrity, monthly pay application review, and the preparation of monthly construction loan and equity draws.
This is a great opportunity for an accountant who wants to see healthcare facilities go up from the ground and understand how a project is financed, built, and delivered. The Construction Property Accountant works closely with project managers, general contractors, lenders, and joint venture partners.
What You'll Do
Monthly Close & Reporting
Perform the monthly close for an assigned portfolio of development and construction entities in accordance with GAAP or other basis of accounting as directed by management.
Prepare monthly financial statements for assigned projects, including construction in progress and capitalized cost detail.
Prepare and post regular and recurring journal entries for assigned projects.
Perform bank reconciliations for all assigned project entities.
Analyze accounts for unusual or unexpected activity and resolve discrepancies or irregularities.
Job Cost Management
Manage job cost for assigned projects, including transaction coding, contract setup, and change order entry.
Maintain commitment and contract balances in the job cost module and reconcile them to the general ledger.
Track project costs against the approved development budget and escalate variances and potential overruns.
Ensure development costs are accurately recorded and appropriately capitalized.
Pay Applications & Draws
Review monthly pay applications from general contractors and subcontractors for mathematical accuracy, contract compliance, retainage, and lien waiver support.
Prepare monthly construction loan and equity draw packages, including supporting schedules, invoices, and lender-required documentation.
Manage notice to owner (NTO) tracking and ensure lien releases are obtained before payment.
Manage the accounts payable workflow for assigned projects, including invoice coding, approval routing, and resolution of exceptions.
Compliance, Onboarding & General
Prepare debt covenant reporting for assigned project entities.
Support development phase management for assigned platform programs and mixed-use projects, coordinating directly with program partners.
Assist with project onboarding and setup in Yardi, and with closeout accounting when projects are placed in service.
Maintain great communication and rapport with project managers, contractors, and lenders.
All other duties as assigned.
What We're Looking For
Bachelor's degree in accounting, finance, or a related discipline preferred.
2+ years of accounting experience.
Working knowledge of GAAP and the monthly close cycle.
Proficient with MS Office, particularly Excel.
Strong attention to detail and comfort working with contract and invoice-level documentation.
Good communication and organizational skills, and efficient time management.
Ability to work under pressure, take direction, and function as part of a team.
Preferred Experience
Construction, development, or commercial real estate accounting experience.
Experience with job cost accounting, contracts, change orders, and retainage.
Experience reviewing AIA pay applications and preparing construction loan draw packages.
Familiarity with notice to owner (NTO) and lien waiver processes.
Yardi experience preferred; we'll consider other comparable programs.
Healthcare real estate experience.
What Catalyst Can Offer You
Competitive salary and benefits package
Up to 18 days of Paid Time Off
9 company paid holidays
Free downtown parking
401k benefit with employer match 100% vested after first year of employment
A company culture that breeds inclusiveness and work-life balance
Transparent leadership
All your information will be kept confidential according to EEO guidelines.
The qualification requirements, physical demands and work environment characteristics described in this
This
It is very important that the successful candidate fit into the Catalyst HRE culture. The company’s values focus on results, creativity, honesty/candor, and strong teamwork. There is a great passion for the work we do.
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