Project Accountant

Carolina PRG has partnered with a well-established and growing commercial real estate investment and development organization is seeking a Project Accountant to join its accounting team. Reporting to the Controller and CFO, this individual will work closely with Accounting, Project Management, and deal teams to track, account for, and report on costs associated with pre-development activities and active real estate development projects.

The position will primarily support new development activity, including both internally controlled projects and developments completed alongside third-party partners or through fee-development arrangements. The Project Accountant will also interact with lenders and equity partners and play an important role in ensuring accurate, timely visibility into project costs and financial performance.

Key Responsibilities

• Partner with deal and project teams to establish and maintain pre-development, design, due diligence, and overall project budgets.
• Review invoice coding and project cost classifications to ensure expenses are accurately captured.
• Work closely with Project Management on development budgets, including initial setup, budget modifications, and cost coding.
• Assist with development and construction management fee calculations and appropriate timing of recognition.
• Perform monthly reconciliations of project activity to the general ledger and bank statements.
• Prepare monthly construction/development draw packages, including budgets, current draw activity, supporting invoices, lien waivers, and other documentation required by lenders and equity partners.
• Produce recurring and ad hoc financial reporting for lenders and equity partners.
• Manage follow-up requests related to draw packages, monitor funding status, and confirm receipt of funds.
• Track invoices associated with draws and coordinate payment releases as equity or loan proceeds are received.
• Maintain project/property-level schedules for future capital expenditures, including amortization and reserve schedules.
• Maintain strong working knowledge of accounting and reporting systems, including MRI, AvidXChange, Excel, and related platforms.
• Assist with monthly, quarterly, and annual accounting, compliance, and renewal requirements.
• Identify opportunities to improve project cost tracking, reporting, and overall visibility into active development projects.
• Work closely with the Controller to evaluate and ultimately implement a project cost tracking platform, including configuration, integration, rollout, user training, and ongoing platform administration.

Qualifications

• Bachelor’s degree in Accounting, Finance, Business, Economics, or a related field.
• 1+ years of related project accounting experience preferred.
• Strong understanding of general accounting concepts and job costing.
• Prior commercial real estate, development, or construction accounting experience is a plus.
• Working knowledge of the general ledger, accounts payable, accounts receivable, trial balances, and financial statements.
• Strong Excel and accounting systems skills; MRI experience is a plus.
• Strong verbal and written communication skills with the ability to work effectively across Accounting, Project Management, lenders, equity partners, and outside vendors.