Manager, Asset Strategy
Description
First Capital [TSX: FCR.UN] owns, operates, and develops grocery anchored open air centres in neighbourhoods with the strongest demographics in Canada. Through the expertise and collaboration of our team, we create thriving properties which generate value for businesses, investors and our neighbourhoods. As one of the Greater Toronto Area’s top employers, we foster a vibrant culture that ensures equal opportunity and well-being for all employees in a dynamic workplace. We are proud to provide rewarding opportunities to build meaningful careers in a fun and high performing environment.
THE ROLE:
As Manager, Asset Strategy, you will be a key part of the Asset Strategy team that oversees the strategy and value creation of the company’s real estate portfolio across Canada. Projects will include strategic analysis, portfolio analytics, working with joint ventures, reporting for IFRS valuations and people leadership/development, in addition to ad-hoc assignments. You will collaborate with various departments to plan, design, and successfully execute on solutions that positively impact the business and deliver results.
WHAT YOU WILL DO:
Asset Strategy:
- Contribute to the planning and the implementation of strategic business improvements that lead to increased NOI and property value.
- Collaborate with the operations team to develop, refine, and execute property-level business plans with a particular focus on newly developed/acquired properties or assets slated for disposition.
- Participate in leadership decisions with a focus on growing the business and driving profitability to maximize value of asset.
- Actively participate in development and investment activity to identify growth opportunities.
- Coordinate with Development for the valuation impact and generate Development Pro-formas.
- Leads the preparation of NOI and value impacts on tenant scenarios to optimize returns for the properties.
- Stay current on planned and actual changes in the company’s portfolio (acquisitions and dispositions), asset modifications (redevelopment and capital expenditures), as well as local and macro market trends and dynamics.
- Prepares financial information with property budgets, capital expenditure, and leasing activity.
- Participate in special projects and take on other duties as assigned.
Portfolio Management:
- Develop quarterly/annually internal valuation of company’s income producing and development density for IFRS reporting.
- Coordinate external appraisal requirements.
- Prepare the reconciliation of asset level financial information with property budgets, capital expenditure plans, and leasing activity and the impact on portfolio.
- Review and/or prepare quarterly reporting deliverables.
- Prepare valuations related schedules, reconciliations, and other information supporting financial reporting requirements and IFRS disclosures in the financial statements.
- Liaise with cross-departmental internal staff, external valuators, and auditors.
Joint Ventures:
- Contribute to the strategy and maintain good relationships with partners.
- Work with Operations to develop budgets and capital plans.
- Help grow relationships for potential future opportunities.
Leadership:
- Inspire and develop existing talent on the team, identify team strengths and opportunities.
- Act as a mentor for junior staff on the team to help make the connection between their contributions and the business.
WHAT YOU BRING:
- Minimum 5 years of experience in commercial real estate. Asset management experience with related retail and multi-residential exposure.
- An undergraduate degree in business, accounting or real estate related field with commercial appraisal experience. MBA, CPA, or CFA considered an asset.
- AACI accreditation and member in good standing with Appraisal Institute of Canada or prior internal valuation experience.
WHAT YOU NEED TO BE SUCCESSFUL:
- Knowledge of valuation methodologies with a focus on retail and multi-residential properties and/or diverse asset classes, including development.
- Strong Argus and Microsoft Office skills with a focus on Word, Excel, PowerPoint, and cash flow modelling.
- Superior analytical, communication, and influencing skills with ability to present findings and conclusions in a "non-technical" manner to various stakeholders within the organization.
- Use strong quantitative and consultative relationship skills to work closely with a variety of internal teams as a trusted, strategic partner to move the business forward.
- Exceptional interpersonal and mentorship skills to influence others to think out of the box to improve the portfolio.
- Strong team player that can prioritize tasks, work well under pressure, and manage competing deadlines.
- Foster and maintain good relationships within the real estate communities.
- Open-minded and able to consider new ways of looking at information, especially when it comes to asset management analytics aspect of the role.
- Results driven and energetic individual with an entrepreneurial mindset committed to delivering the highest quality of work.
WHAT WE OFFER:
We invest in People. Along with our competitive compensation packages—we’re always thinking of new ways for our people to share in the company’s success. We are very proud to offer the following to our employees:
- Flexible Hours
- Company-matched savings plans
- Fully paid Extended Healthcare benefits from day one
- Annual Wellness Subsidy
- Tuition & Development Program
- Employee Referral Program
- Rewards and Recognition Programs
- Paid time off during December holiday season
- Parental leave benefits
Our people are what makes us different. At First Capital we are committed to workplace diversity and inclusion within our organization, therefore, we encourage all qualified persons from all backgrounds to apply. Accommodations are available, upon request, to all applicants with disabilities throughout our hiring process. To discuss any accommodation, please email us at [email protected].