Property Accountant - Construction

Company Description

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.

Job Description

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. 

Qualifications

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. 

Additional Information

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 job description are representative of those that must be met by an employee to successfully perform the essential duties and responsibilities of this job.

This job description in no way states or implies that the essential duties described are the only responsibilities. The employee is required to follow any other instruction and to perform any other work duties at the request of the supervisor or other management personnel.

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.