Senior Development Accountant

The Senior Development Accountant is responsible for the accounting, financial reporting, and financial oversight of Stream Realty Partners' owned development projects. This role partners closely with Investments, Development, Construction, Asset Management, and Corporate Accounting teams to ensure accurate project accounting, financial reporting, and budget management throughout the development lifecycle.

The position serves as a key financial partner to the Investments team, supporting development projects from acquisition through stabilization. Responsibilities include project accounting, construction draw administration, budget tracking, capital management, and financial reporting for development entities and joint ventures. This individual will play a critical role in establishing scalable accounting processes and providing financial insight that supports investment and development decision-making.

Primary Responsibilities: 

• Maintain complete accounting records for development projects, investment entities, and joint ventures.
• Assist with project cash management and funding needs throughout the development process and responding timely to urgent payment requests
• Review and process construction invoices, ensuring costs are appropriately approved, coded, and recorded.
• Prepare journal entries, account reconciliations, accruals, and month-end close activities.
• Ensure development costs are properly classified and recorded in accordance with GAAP.
• Analyze project financial results and investigate variances or discrepancies.
• Perform capitalization analyses and ensure appropriate capitalization of development costs.
• Calculate and monitor capitalized interest for qualifying projects.
• Prepare monthly, quarterly, and annual financial statements and supporting schedules.
• Support annual audits, lender reviews, tax compliance activities, and financial due diligence requests as needed
• Partner with Investments, Development, Construction, Asset Management, Treasury, and Corporate Accounting teams.
• Produce routine and ad hoc financial reports for management as needed
• Serve as a trusted financial resource for development and investment stakeholders.

Required

• Bachelor's degree in Accounting or Finance.
• 3 to 7 years of accounting experience in real estate development, construction accounting, project accounting, or development finance.
• Experience managing construction draws, project funding, and lender reporting requirements.
• Strong understanding of construction-in-progress (CIP) accounting, capitalization principles, and development budgets.
• Experience reviewing construction invoices, tracking committed costs, monitoring retainage, and managing project budgets.
• Advanced Excel and financial analysis skills.
• Strong organizational, communication, and project management capabilities.

Preferred

• CPA designation or progress toward CPA.
• Commercial real estate development experience.
• Experience with joint ventures, real estate investment structures, and loan-funded development projects.
• Experience calculating capitalized interest and supporting project financing activities.
• Experience with Yardi accounting system.

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Stream is an equal-opportunity employer and does not discriminate on the basis of ethnicity, race, religion, sexual orientation, gender identity, age, national origin, disability, military status, or any other reason prohibited by law.

Stream Realty Partners offers competitive salaries, bonuses, medical/dental/vision insurance, pharmacy benefits, health savings account, flexible spending accounts, 401(k) plan with company matching, PTO, and holiday pay. Individual compensation packages are based on various factors unique to each candidate, including skill set, experience, qualifications, location, and other job-related reasons. 

To apply for a position, please visit our website at www.streamrealty.com