Managing Director, Real Estate Asset Management

Investment Management Corporation of Ontario; Old Toronto; Hybrid; CAD 120,000 - 250,000; Full time

Job summary

An established industry player seeks a highly motivated Managing Director for their Real Estate Asset Management team. This pivotal role involves overseeing a substantial real estate portfolio, driving asset management strategies, and fostering collaborative relationships with partners. The ideal candidate will leverage extensive experience in real estate investment and portfolio management to enhance performance and value. Join a dynamic team committed to excellence in the heart of downtown Toronto, where your expertise will contribute to strategic business outcomes and organizational transformation. This is an exciting opportunity to make a significant impact in a rewarding environment that values growth and development.

Benefits

Competitive salary

Comprehensive benefits package

Flexible work model

Opportunities for growth and development

Qualifications

• 15+ years of real estate investment experience required.
• Strong leadership and team management skills are essential.

Responsibilities

• Accountable for managing IMCO's $10 Billion Real Estate portfolio.
• Lead asset management initiatives and develop strategic plans.

Skills

Real Estate Investment

Asset Management

Financial Analysis

Market Research

Relationship Management

Team Leadership

Sustainability Practices

Quantitative Analysis

Education

Undergraduate degree in Finance or Business

Graduate degree (e.g., MBA)

Professional designation (e.g., CFA, AACI)

Tools

Microsoft Office

Job description

Managing Director, Real Estate Asset Management

Apply locations Toronto - 16 York St time type Full time posted on Posted 30+ Days Ago job requisition id R24-175

At IMCO, our talent is among the best! IMCO offers a uniquely stimulating and rewarding environment where you can help build and drive organizational transformation, all while seeking to challenge yourself, learn, and grow your career.

We offer a culture of collaboration and passion, creating unwavering value for the clients we serve. Our vision is to be the partner of choice for Ontario’s public sector funds and build a high-performing, value-based Asset Management firm in the heart of downtown Toronto.

If you are ready to drive best-in-class service, and join a collaborative, motivated, and fun team of professionals, we’re ready to offer you a great place to work with exciting opportunities for growth and development.

If you want to use your expertise to drive strategic business outcomes, then we want you at IMCO!

IMCO is looking for a highly motivated Managing Director to join our Real Estate team!

As a key member of the Investment team, the Managing Director, Real Estate (Asset Management) is responsible for contributing to the management of the IMCO Real Estate portfolio. Working under the direction of the Managing Director, Head of Real Estate, this position is responsible for a range of senior-level activities relating to asset & portfolio management, strategy and performance, team development and relationship building for IMCO’s $10 Billion Real Estate portfolio. Primary emphasis will be placed on active asset management within IMCO’s Canadian direct real estate portfolio to drive value in accordance with IMCO’s real estate strategy.

As a Leader within the Team, You Will be Accountable For:

Asset & Portfolio Management

1. Participating in the on-going development and execution of IMCO’s Real Estate portfolio strategy, with specific emphasis on active asset management of the direct Canadian real estate portfolio, portfolio management, capital pacing and consistent returns performance.
2. Leading in areas of property management initiatives, capital and leasing management, financial analysis and preparation of relevant materials to support the management of the assets.
3. Working with the real estate team to identify and develop recommendations to support acquisitions, development and dispositions.
4. Underwriting of value-add strategies for the real estate portfolio, in conjunction with partners, managers and the real estate team. This will include due diligence review, market analysis, comparable analysis, cash flow modelling, property valuations, and investment analysis to support investments as part of the Real Estate Strategic Plan.
5. Preparation and presentation of detailed investment memos for presentation to IMCO Investment Committees.

Strategy & Performance

1. Producing annual asset plans and strategies focusing on areas of leasing, operations, ESG, development and hold/sell recommendations.
2. Collaborating and supporting the disposition team on active files to ensure strategic alignment and seamless transactions.
3. Managing market research and evaluating the performance of the Real Estate portfolio relative to key benchmarks with a high attention to detail. This will include the review of annual business plans and regular reporting.
4. Developing proposals to enhance risk-adjusted performance of the overall Real Estate Strategy, considering all aspects of asset and portfolio management to ensure effective management of costs, risks and returns.
5. Preparing investment performance commentaries for internal and external distribution, including monthly or quarterly meetings, Investment Committee meetings, as well as annual corporate reporting.
6. Continuing to explore opportunities to internalize or expand asset management function to improve oversight and performance.

Relationship Management

1. Establishing collaborative relationships with relevant third-party managers and partners to ensure proactive management of assets with respect to leasing, operational and capital programs and strategy, with aim to grow income and improve value.
2. Ensuring best practices of various managers are regularly reviewed and incorporated.
3. Working closely with IMCO teams, on issues related to underwriting, financial accounting and reporting of IMCO’s real estate investments.

Team Leadership

1. Provide day-to-day direction, guidance, leadership and mentoring to Principals, Associate Portfolio Managers and Analysts within the IMCO Real Estate team.

What do you need to succeed?

1. A minimum of 15 years of relevant real estate investment industry experience.
2. Undergraduate degree in Finance, Business or a related field is required. A graduate degree (e.g., MBA) and/or a professional designation (e.g. CFA, AACI) is preferred.
3. Extensive knowledge of the Canadian real estate market with hands-on asset management and transactional experience, including specific involvement in enclosed retail and office real estate.
4. Experience implementing investment strategies and plans, managing significant capital budgets, identifying value creation opportunities, leasing, operations and co-ownership structures.
5. Experience with sustainability practices and initiatives in real estate, including the Global Real Estate Sustainability Benchmark (GRESB) and certifications such as LEED.
6. Understanding of real estate risk management principles and practices.
7. Demonstrated leadership and ability to manage, mentor and grow a collaborative and high performing team.
8. Proven ability to cultivate partnerships and work collaboratively in a team environment with both internal and external resources, as well as experience in presenting to Investment Committees and Board of Directors.
9. Excellent written and communication skills required to report complex information in a clear, concise manner for investment memos, performance reports and market reviews.
10. Excellent quantitative, analytical, problem solving and organizational skills.
11. Advanced knowledge of all Microsoft Office applications.

What IMCO Can Offer You?

We thrive on the challenge to be our best, to deliver an unparalleled employee experience and to work as one team to continuously improve the management of broader public-sector investment funds. In addition to offering a competitive salary and comprehensive benefit package, we pride ourselves on helping you reach your potential, making a difference in our communities, and achieving success that is mutual.

We thank all applicants, however, only those selected for an interview will be contacted.

Our hybrid work model offers flexibility and provides our employees with the opportunity to lead a well-balanced life. Our Corporation’s offices located at 16 York Street, Suite 2400, Toronto, ON M5J 0E6 provide a welcoming space for employees to gather, work collaboratively, and grow together.

IMCO is committed to providing accommodation for people with disabilities in its recruitment process. Please advise IMCO if you require an accommodation and we will work with you to meet your needs. Candidates being considered for this position will be required to submit to a background screening.

About Us

The Investment Management Corporation of Ontario (IMCO) is Ontario’s professional asset manager, investing on behalf of our public sector clients so they can care for beneficiaries and secure retirement futures.

With approximately $77 billion in assets under management, we are one of the largest institutional investment managers in Canada and around the globe.

Our mandate is to provide broader public sector clients with exceptional investment management services, including best-in-class advice around portfolio construction, efficient access to a diverse range of asset classes and superior reporting on risks and returns.

Our vision is to rank among the world’s leading public-sector asset managers. We will achieve this through an unwavering focus on creating client value. That means ensuring that we deliver the returns required for our clients to meet their long-term financial obligations.