Real Estate Account Specialist

We are seeking a detail-oriented and experienced Account Specialist to join our Real Estate Development team. This role is responsible for managing financial records, overseeing budgeting and reporting, and providing strategic insights to support real estate development projects. A key focus will be managing tenant improvement allowance (TIA) receipt, buildout of itemized construction project budgets, tracking invoices against budgets, and reporting on project progress and budget variances to the leadership team.

Role Competencies

• Financial Expertise & Accuracy: Ability to analyze financial data, ensure accuracy, and maintain compliance.
• Budgeting & Forecasting: Experience developing and managing budgets for multiple real estate projects. Proficiency in variance analysis and cash flow projections.
• Project & Process Management: Ability to track and manage tenant improvement allowances (TIAs) and project expenditures. Strong attention to detail in reviewing lease agreements and financial records.
• Technology & Analytical Skills: Proficiency in Microsoft Excel and Smartsheet. Ability to identify process improvement opportunities and implement efficiencies.
• Collaboration & Communication: Ability to work closely with internal teams, including legal, project management, and accounting. Strong communication skills to liaise with tenants, contractors, and external partners.

Role Specific Tasks

• Financial Management & Reporting: Maintain accurate financial records for real estate projects, including forecasting and expenses. Work with the Accounting & Finance team to ensure proper allocation of costs, timely billings and payments, and recording and tracking of fixed assets and capital expenditures.
• Budgeting & Forecasting: Develop and manage budgets for multiple real estate projects. Monitor actual expenses against budgets and provide variance analysis. Prepare cash flow projections to support project timelines and funding needs.
• Budget Management & Tenant Improvement Allowances (TIAs): Track project costs and ensure proper classification of expenditures. Review and process invoices and pay applications in coordination with Accounts Payable. Manage the TIA process, including reviewing lease agreements to confirm TIA terms and conditions, tracking TIA disbursements and ensuring compliance with lease agreements, and coordinating with contractors and project managers to manage costs and reimbursements.