Intern, Commercial/Residential Asset Management

Fengate Asset Management; Toronto; On-site; CAD 41,000 - 58,000; Full time

Job summary

Fengate Asset Management seeks an Intern, Commercial/Residential Asset Management to join a collaborative team. The role focuses on reporting, analysis, and research to support Fengate’s growing multi-residential portfolio.

You will assist with asset and portfolio performance analyses, develop financial models, perform market research, and help advance ESG reporting initiatives. An undergraduate business degree in real estate, finance, or economics is preferred and prior valuation experience is

Qualifications

• A strong interest in real estate and asset management.
• Pursuing an undergraduate business degree in real estate, finance, economics, or a related field.
• Experience with valuation techniques and cash flow modelling process is an asset – DCF, NPV, NER, Argus Enterprise.
• Prior residential real estate research and analytical experience is an asset but not required.
• Strong research and analytical skills including the ability to gather, interpret and effectively communicate macroeconomic, capital market and property market data.
• Critical thinking skills that can convert data into meaningful relationships and information to drive quality decision making.
• Exceptional written and verbal communication skills, including ability to articulate recommendations in a concise and timely manner.
• Task and goal oriented and capable of functioning in an entrepreneurial and corporate setting.
• Detail oriented, with an acute ability to manage time and attend to deadlines.

Responsibilities

• Analysis: Support for asset and portfolio performance analyses, financial analyses, market overviews, and recommendations.
• Reporting: Assist with monthly and periodic financial/operational reporting and investor presentations.
• Research: Collect and organize real estate data, develop in-house databases, and support market research and PropTech initiatives.

Skills

Real estate analysis

Financial modelling

Market research

DCF/NPV/Argus

Education

Undergraduate degree in real estate/finance/economics

Tools

Argus Enterprise

Excel

Job description

COMPANY OVERVIEW

Fengate Asset Management is a leading alternative investment manager focused on infrastructure, private equity, and real estate strategies. Founded in 1974 in Hamilton, Ontario, and with over 250 team members across Canada and the U.S., Fengate is one of the most active real asset and growth equity investors in North America. The firm currently manages over C$10 billion in capital commitments in support of more than C$40 billion in gross asset value, on behalf of over 60 institutional investors across North America, Europe, and Asia.

The firm believes that acting responsibly to its stakeholders and communities is fundamental. Fengate is a signatory of both the Institutional Limited Partners Association (ILPA) Diversity in Action initiative and the United Nations-supported Principles for Responsible Investment, integrating environmental, social and governance (ESG) principles into all stages of the firm’s investment process. In 2021, Fengate established its ESG Committee and its EBID (Equity, Belonging, Inclusion and Diversity) Think Tank, consisting of leaders and employees of all backgrounds and levels throughout the firm, to advance and govern the ESG and EBID objectives.

Fengate has achieved Platinum Club member status as one of Canada’s Best Managed Companies, retaining this designation since 2007, and has been certified as a Great Place to Work®. Over the past year, Fengate was named one of Canada’s Best Workplaces (#4 for companies with 100-999 employees) and as a Best Workplace for Financial Services & Insurance, Inclusion, Women, Today’s Youth, Mental Wellness, Giving Back, and Most Trusted Executive Teams.

The firm has also been recognized with Waterstone Human Capital’s 2022 Most Admired Corporate Cultures award. This program recognizes best-in-class organizations for having cultures that have helped them enhance performance and sustain a competitive advantage. Only 50 organizations are awarded this prestigious corporate culture award each year.

OPPORTUNITY

The Intern, Commercial/Residential Asset Management will work in a highly collaborative team environment and will have responsibilities in the core areas of reporting, analysis, and research. The primary focus will be supporting the performance of Fengate’s growing multi-residential portfolio.

KEY RESPONSIBILITIES

Analysis

• Analysis support for internal and external stakeholders, including asset and portfolio performance analysis, financial analysis, market analysis and overviews, and the forming of recommendations.
• Provide support during due diligence processes with respect to assets for sale, as well as existing and potential development projects.
• Liaise with the cross-functional teams to maintain operations and financial models for purposes such as setting budgets, analyzing of lease velocity and evaluating value-add initiatives and their impact on returns and overall asset value.
• Create/analyze operational and financial reports by reviewing and analyzing variance on operational results, collections/arrears reports, capital expenditures, utility consumption, value add initiatives, valuations, business plans, and market reports.

Reporting

• Assist with monthly and other periodic reporting of financial/operational metrics and presentations for both internal management and investor clients.
• Assist with other team reporting objectives including the review of semi-annual reforecasts and annual budgets, client pitches and presentations.
• Prepare, review, and analyze property and portfolio returns for periodic reporting purposes as well as ad hoc analysis.
• Assist with environmental, social and governance (ESG) programs and reporting.
• Create standardized slide decks and presentations that generate high-impact results based on industry standard key success factors such as profitability, occupancy and recovery rates, above/below market rate comparisons, etc.

Research

• Collect, organize, and strategically distribute diverse real estate information and data from a variety of sources including real estate industry websites, news articles, conversations with advisors, and research databases.
• Research residential properties and collect market information on lease and sale transactions, inputting and organizing data, researching online sources, and assist with corporate financial analysis and development.
• Develop in-house research databases and practices to assist in prioritizing target markets and submarkets for potential real estate investments.
• Conduct research on special topics in support of the team’s strategic initiatives and the wider organization’s goals and objectives.
• Research and support implementation of PropTech solutions and digital tools to enhance operational efficiency and reporting.

KEY QUALIFICATIONS

• A strong interest in real estate and asset management
• Pursuing an undergraduate business degree in real estate, finance, economics, or a related field.
• Experience with valuation techniques and cash flow modelling process is an asset – DCF, NPV, NER, Argus Enterprise.
• Prior residential real estate research and analytical experience is an asset but not required.
• Strong research and analytical skills including the ability to gather, interpret and effectively communicate macroeconomic, capital market and property market data.
• Critical thinking skills that can convert data into meaningful relationships and information to drive quality decision making.
• Exceptional written and verbal communication skills, including ability to articulate recommendations in a concise and timely manner.
• Task and goal oriented and capable of functioning in an entrepreneurial and corporate setting.
• Detail oriented, with an acute ability to manage time and attend to deadlines.

CORE COMPETENCIES

• Being Authentic – Inspiring trust and being courageous.
• Focusing on Performance – Being accountable and driving results.
• Understanding Stakeholders – Knowing the needs of those who rely on you.
• Building Effective Relationships – Collaboration and communication.

PAY RANGE

The expected base pay range for this position is: $36/hour.

Fengate is an equal opportunity employer, we strive to attract and retain a diverse workforce and are committed to promoting diversity, equity, inclusion, and belonging in the workplace. It is a core priority at Fengate to create, operate with, and continuously grow and sustain an inclusive culture that respects and connects the diversity of our team, our clients, our partners, and the communities we work in.

We are committed to providing accommodation for persons with disabilities. If you require accommodation, we will work with you to meet your needs.

We thank all applicants for their interest in this position; however only candidates selected for an interview will be contacted.