Project Accountant

Our Story:

From South Africa to Southern California, the ColRich story is a decades-long journey of growth, continuous reinvention and a culture of caring which we call “ColRich Thrive.” Through generations of family ownership, the ColRich brand has evolved, but the company’s foundation remains the same today as in the beginning; build lasting communities through a culture centered around innovation, humility and a commitment to helping others.

Our Bio:

ColRich is a real estate, construction and investment firm focused on value-add, residential real estate in strategic locations in Eastern, Western and South-Central U.S. markets. Our platform’s sustainability is assured through long- term ownership enabled by long-term debt and equity. We are focused on enduring, tax-efficient cash flow for our investors.

In the multifamily space, we actively maximize cash-on-cash returns and capital appreciation by acquiring existing properties with upside through extensive renovation and improved management. Leveraging our unique homebuilding background and construction platform, we reposition these older properties as design-forward, affordable workforce housing alternatives to newer Class A product.

Our new development history includes the successful entitlement, construction, marketing and sales of single-family homes, townhomes, mid-rise condominiums and apartments. Currently we are bringing to market two master-planned, destination-oriented communities offering a combined 5,000 for sale and rental homes over a 10-year time horizon, and several individual new apartment developments (1,000 units).

With a service matters operating philosophy, our team is passionate about supporting residents across our portfolio, building better environments that fuel happier residents, improving investor returns and creating a strong sense of purpose that drives what we do every day.

Our Current Portfolio:

ColRich’s portfolio includes $1.1 billion of equity actively invested through the end of 2023 in 78 deals across 8 states in 16 different markets. All together, our multifamily and new development activities total nearly 19,000 housing units.

Our Approach:

A vertically integrated, hands-on approach is at the core of our company’s capabilities. Deep in-house construction, design, finance and asset management expertise ensures that our essential functions are managed internally and operationally intertwined to produce indisputable long-term value for our stakeholders. Our communities are built to last, offering enduring and stable environments where our residents will thrive.

Our DNA:

Ever-evolving

Hardworking

Original thinkers

Competitively Humble

Personable

Seasoned Through Adversity

Our Mantra:

Build lasting communities

Our Location:

We are based in San Diego’s Little Italy neighborhood in walking distance to the 100 restaurants, bars & coffee shops we visit with our colleagues.

Position:

Project Accountant (Development) - San Diego, CA

Reports to:

Director of Accounting

About the Role:

The Project Accountant (Development) is responsible for the day-to-day accounting for a portfolio of development assets. Includes closing books, preparation of financial statements, and establishing and maintaining accurate records. The Project Accountant will work closely with both internal Departments and external Vendors to ensure timely processing of payable transactions and other duties as assigned. This role reports to the Director of Accounting.

Specific responsibilities include:

• Review and process construction related invoices for coding and accuracy ensuring proper supporting documents in accordance with company billing procedures.
• Maintain all project monthly Unconditional & Conditional lien releases for Suppliers and Subcontractors and associated tracker.
• Prepare journal entries and other accounting transactions, maintain overall accuracy and integrity of the general ledger, and ensure that financial statements are GAAP compliant.
• Responsible for completing month end accounting and reporting (including the preparation of financial statements and associated sub-schedules) for all entities associated with assigned portfolio of properties.
• Coordinate with project leads to record, monitor, and reconcile construction actives. Resolve questions arising from unusual variances or fluctuations job cost activity and or construction account expenses, and provide general accounting support, as needed.
• Prepare monthly loan draw requests and associated reporting including review of contractor pay applications, bank financing forms, and lien waivers.
• Ad hoc data analysis and special projects as assigned.

Requirements:

• Minimum of 2 years’ experience working as a project construction accountant demonstrating a familiarity with an established construction accounting system (e.g. Sage, Timberline, Yardi, etc.)
• Experience in residential/apartment development with a demonstrated working knowledge of Job Cost / Project Cost.
• Ability to work both independently and as part of a team.
• Strong organizational skills and attention to detail.
• Excellent written and verbal communications skills.
• Strong MS computer skills (Excel, Word, and PowerPoint) required.
• Ability to quickly pick-up new software.

Benefits:

• Base salary and discretionary annual bonus competitive with industry standards

$75,000/year - $95,000/year

• Health and dental insurance paid fully at the employee level by employer
• Eligible upon hire for 401(k) plan
• Paid holidays and vacation time

ColRich provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, ColRich complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training. ColRich expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of ColRich’s employees to perform their job duties may result in discipline up to and including discharge.