Company Overview:
Our client is a privately owned global real estate investment, development, and management firm, with over a 60-year track record and presence in 225 cities and 25 countries with $144.1B of assets under management.
Our client has 165 developments currently underway around the world, and historically, has developed, redeveloped, or acquired over 1,400 properties, totaling over 472M square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246M square feet. With extensive experience in investments across the risk spectrum and all property types, coupled with a pioneering commitment to sustainability, this platform is one of the largest and most respected real estate organizations on a global scale.

Position Overview:
Our client is seeking a Director, Project Finance. This person will be the principal point of contact for the managing partners, the project manager, equity investors, lenders and other third parties with respect to all financial and accounting matters related to a high-profile, multi-phase, mixed-use project. The role will report to a Project Officer.

Duties/Responsibilities:
• Review, analyze, and track the financial status of project on a monthly, quarterly, and annual basis.
• Keep appropriate management aware of positive or negative financial developments impacting project and develop appropriate recommendations to address issues.
• Work closely alongside development team to help track cost exposures, with an emphasis on construction cost management.
• In connection with regular meetings with managing partners and development team, prepare financial statements, budget forecasts, liquidity projections, condo sales reports, project returns and other requested analysis.
• Participate in regular project meetings with equity investors.
• Assist with preparation of financial reporting for equity investors in accordance with LLC agreements.
• Together with tax consultants, propose property tax mitigation strategies. Review property tax assessments and forward-looking projections.

Accounting/Financial:
• Together with the Accounting team, maintain the accounting and tax books for the Property Owner and the related joint venture entities.
• Support the annual external audit, tax projection and tax return processes.
• Review and approve all project costs in accordance with internal protocols, loan provisions and venture provisions.
• Manage, with assistance of project accountants, multi-level invoice approval process for project hard and soft costs.

Lender Reporting:
• Understand loan agreement and ensure project is in compliance with all financial and reporting loan covenants. Anticipate potential future compliance issues based on projections.
• Participate in monthly project meetings with lender and prepare and ensure timely delivery of various financial reports required by lender.
• Oversee project construction accounting including requests for loan disbursements, comparison to budget reporting, AIA documents, change orders, cost reallocation and work in progress reporting.
• Interact with lenders US service agent, design team and constructions monitoring consultant. Coordinate with construction and accounting team on change order process.
• Oversee preparation of monthly construction loan requisitions for submission to lender.

Leasing and Sales:
• Assist with financial analysis of lease proposals, evaluation of credit for potential tenants. Ensure proper lease accounting treatment per GAAP.
• Analyze and track the residential sales and marketing efforts of the project.
• Review and approve purchase and sale agreements for the residential component of the project.
• Oversee the ongoing closing process for residential condominium units working closely with conveyancing attorneys’ team.
• Approve all unit closing settlement statements on behalf of the project team.

Pre-Development (Future Phase Development):
• Creation and analysis of pre-development budget costs and timeline.
• Forecast cashflow requirement and anticipated capital calls to investors.
• Review, analyze, and track financial status of pre-development budget on a monthly and quarterly basis.
• Participate with development team to generate accurate cash flow projections, detailed pro-forma options, construction budgets and source and use of funds for project development budget.

Qualifications/Experience:
• 10 plus years’ experience in real estate development accounting with a deep understanding of construction cost tracking and control exposure to mixed use projects preferred
• Bachelor’s degree in accounting and/or finance; CPA a plus.
• Advanced Excel skill set; proficient in Word and PowerPoint, knowledge of Procore or other budgeting tool preferred
• Self‐starter, hands on, non‐bureaucratic, high-energy personality
• Ability to interact effectively across all levels of the organization and manage relationships with outside parties
• Ability to be well organized in a fast‐paced environment, to successfully multi‐task and work both as a team player and independently to meet multiple demanding deadlines