Manager, Portfolio Management

Recipe; Vaughan; On-site; CAD 80,000 - 100,000; Full time

Job summary

A leading full-service restaurant company in York Region, Vaughan, is seeking a Portfolio Management Manager. This role involves managing lease renewals, redundant leased locations, and Recipe-owned real estate transactions. Candidates should possess a solid understanding of the Canadian commercial real estate market and excellent negotiation skills. The company offers a flexible/hybrid work environment, career advancement opportunities, and industry-leading benefits.

Benefits

20% associate discount dining card

Monthly dining allowance

Career advancement opportunities

Industry-leading benefits

Wellness programs

Diverse and inclusive workplace

Qualifications

• Solid understanding of Canadian commercial real estate market.
• Strong relationships with landlords.
• Excellent negotiation skills.
• Strong attention to detail.
• Strong understanding of lease language.
• Excellent time management skills.
• Proficiency in Google Suite or Microsoft Office.

Responsibilities

• Track upcoming lease expiry and notice dates.
• Solicit input from Real Estate and Franchising.
• Negotiate business terms of lease renewals.
• Manage landlord communication and negotiations.
• Assist in disposition plans for Cara-owned real estate.

Skills

Understanding of Canadian commercial real estate market

Strong relationships with landlords

Excellent negotiation skills

Attention to detail

Understanding of lease language

Time management skills

Proficiency in Google Suite or Microsoft Office

Job description

Recipe Unlimited Corporation is Canada’s leading full service restaurant company. Home to such iconic brands as Swiss Chalet, Harvey’s, St.Hubert, Montana’s, Olive Garden Canada, Bier Markt, East Side Mario’s, The Landing Restaurant Group, New York Fries, The Pickle Barrel & Catering, State & Main, Elephant and Castle, Original Joe’s, Fresh Kitchen + Juice Bar, The Burger’s Priest, Blanco Cantina and Anejo. With this diverse portfolio of restaurants our Home Office Teammates have the opportunity to work on a wide variety of some of the most popular, well‑loved brands in Canada. Variety isn’t the only thing we offer – we are passionate about our industry, we celebrate and support diversity of thought, we are innately curious and encourage our Teammates to take ownership. Above all else, we believe in doing the right thing for our people, our communities and our planet.

As the Portfolio Management Manager, you will participate in the development of, and then implement site specific plans for renewal of leases for assigned RECIPE brands. You will assist in the implementation of plans for the management of redundant leased locations and the sale of RECIPE‑owned real estate.

What you will do in this role

• Lease Renewals 75%
  • Track upcoming lease expiry and notice dates (at least 4 years out)
  • Solicit input from Real Estate, Franchising and the Brand(s) re plan to renew / relocate / close
  • Negotiate business terms of lease renewals
  • Keep franchisees informed and involved throughout the renewal process
• Management of Redundant Leased Locations 15%
  • Assist Brand in assessing closure
  • Manage landlord communication
  • Manage process of negotiating buy‑out with landlord or sourcing and negotiating deal with subtenant
• Disposition of Recipe‑Owned Real Estate 5%
  • Assist in the implementation of disposition plans for Cara‑owned real estate by assisting in :
  • Sourcing purchasers from the real estate investment community
  • Negotiating purchase and sale agreements, lease‑backs, and all related documents
  • Completing the transaction closing process
• Special Projects 5%
  • Assist the Senior Portfolio Manager and the Vice President, Real Estate Portfolio Management with special projects, as needed

What we are looking for from you

• Solid understanding of Canadian commercial real estate market
• Strong relationships with landlords
• Excellent negotiation skills
• Strong attention to detail
• Strong understanding of lease language and how it can impact the business terms of deal
• Excellent time management skills and ability to deal with multiple priorities
• Proficiency in Google Suite or Microsoft Office especially spreadsheets, lease administration software
• Some travel may be required

What’s in it for you

• Flexible / Hybrid work environment
• You’d be joining a close‑knot, innovative team of creative and energetic go‑getters
• You’d be a part of Canada’s largest full‑service restaurant company that leads the industry in size and innovation
• 20% associate discount dining card and monthly dining allowance valid at participating Recipe brands
• A welcoming, fun and safe work environment founded on respect
• Career advancement opportunities with a company that owns some of Canada’s most iconic restaurant brands
• Industry‑leading benefits, wellness programs, and total rewards programs
• Recipe is committed to providing a diverse, equitable and inclusive workplace. Celebrating people, being passionate and curious, owning it, and doing the right thing are the values that guide how we build our teams, support our franchisees and create a company that unlocks the full potential of everyone.
• Recipe is dedicated to providing accommodations in accordance with applicable human rights and accommodation legislation. For individuals that require accommodations please contact