Vice President /Director, Asset Management

Position Summary and Objectives

Founded in 2001, Crown Realty Partners ("Crown") acquires, develops and manages commercial real estate assets in Canada. We are committed to generating exceptional returns for our investors while providing quality premises and excellent service to businesses that choose to operate within a Crown building.

The Vice President/Director, Asset Management reports to the Managing Partner, Asset Management. They will apply a proactive, hands-on management approach to achieve specific goals and impact targets for each asset in the portfolio in accordance with the Crown's business plan and organizational objectives to maximize the value and return on investment for Crown's real estate investments. The job entails leading a team while creating, implementing and reporting on strategies for specific properties managed by Crown. Strategies for each property may examine the acquisition, operations, repositioning, capital requirements, leasing, financing, municipal planning, development, financial projections, cash management and disposition of the property.

Responsibilities

Provide Superior Returns to our Investors through Strategic Planning and Implementation

• Work collaboratively with internal and external stakeholders to drive long-term value of the assets and funds
• Manage portfolio's to ensure optimal performance and profitability
• Coordinate with leasing, property management, and operation teams to ensure high standards of property operations and maintenance
• Oversee, review and approve all capital work (recoverable and non-recoverable) and tenant improvement projects
• Support ESG strategies, assist and track KPIs on performance
• Develop and implement corporate and asset specific sustainability initiatives to enhance the long-term value of the assets
• Collaborate with leasing team to understand tenant demand, market rents, tenant inducements and other leasing matters
• Approve all leasing transactions while understanding the impact on value and if the transaction supports the business plan at the assets
• Develop and implement financing strategies for the assets
• Conduct buy, hold, sell analysis and make recommendation on disposition and new development strategies
• Support the disposition process for the assets
• Manage the asset valuations process
• Prepare financial analysis, presentation materials and other reports for senior management and external parties, as required
• Develop and manage budgets, financial reports, and performance metrics to track property performance
• Assist with the preparation and presentation of the annual Asset Management Presentations including leasing assumptions, financing assumptions, operating and capital expenditure budgets
• Review and update the asset business plans, as required
• Lead the insurance program for the company
• Analyze market trends and conduct competitive analysis to understand the competitive landscape
• Develop and maintain positive relationships with internal and external stakeholders, including tenants, brokers, investors, lenders, and other partners
• Participate in industry events, conferences, and networking activities to stay current on trends and best practices
• Identify and recommend value-add opportunities
• Collaborate with various internal departments and team members regarding value-add opportunities and special projects

Hire, Train and Motivate Employees and Provide Rewarding Careers

• Coach, train and supervise all employees who report directly to you
• Perform ongoing performance management for team members and seek opportunities for their development and advancement

Perform other related responsibilities as requested from time to time

Qualifications

Education

• Bachelor's degree in business or related education, required
• MBA, CPA or CFA, considered an asset

Professional Experience

• A minimum 10 years of asset management experience in commercial real estate, with a strong preference for candidates with a diverse background encompassing development and investment, leasing, and property management in office/industrial real estate sectors
• Experience with budgets, property cash flows, forecasting and accounting
• Understanding of economic indicators and the impact on commercial real estate
• Ability to analyze, critique and interpret documents such as financial statements, appraisals, agreements of purchase and sale, mortgage documents, leases and other related documents.

Personal Competencies

• Hold's a valid G drivers' licence and access to a vehicle on a daily basis
• Supports teamwork environment with positive and professional attitude
• Open to learning, developing new skills/knowledge
• Focuses on results: anticipates problems, identifies solutions, takes action
• Understands all aspects of job - impact on business goals
• Proactively assesses, responds to workflow deficiency, adheres to Crown policy
• Goes the "extra mile" to understand and respond to tenant/customer needs
• Flexibility to changing work conditions including interruptions and multi-tasking ability
• Behaves and makes decisions that support Crown goals/objectives
• Conducts business consistent with sustainability
• Strong written and verbal communication skills
• Understand basic financial management; specifically procedures for expenses/revenues
• Ability to work independently and under pressure, deal with deadlines
• Demonstrates integrity in decision making, listening, treatment of others
• Conduct business consistent with sustainability

Crown is committed to accommodating employees with disabilities throughout their employment with Crown in accordance with the Accessibility for Ontarians with Disabilities Act (AODA). If you require accommodation, please let us know.