VP Asset Management

Fengate Asset Management; Toronto; On-site; CAD 90,000 - 150,000; Full time

Job summary

An established industry player in alternative investments is seeking a Vice President of Asset Management. This pivotal role involves developing strategic plans for commercial assets, ensuring financial performance, and identifying value-add opportunities. The ideal candidate will have extensive experience in real estate asset management, particularly in industrial and commercial sectors. You will drive performance metrics, work collaboratively with various stakeholders, and lead initiatives that enhance operational efficiency. Join a company recognized for its exceptional workplace culture and commitment to responsible investment practices, where your expertise will contribute to impactful projects and growth.

Qualifications

• 8-12+ years of experience in real estate asset management.
• Strong business acumen and negotiation skills.
• Exceptional communication and relationship-building abilities.

Responsibilities

• Develop and execute strategic plans for commercial assets.
• Conduct financial performance reporting and analysis.
• Supervise annual budget processes and operational plans.

Skills

Asset Management

Financial Analysis

Market Research

Negotiation Skills

Interpersonal Skills

Analytical Skills

Education

Undergraduate degree in commerce, finance, or economics

CA, CFA, MBA or equivalent post-graduate education

Job description

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 multiple offices in Ontario and Texas and over 230 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 50 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 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.

Fengate Real Estate is a fully integrated real estate investment and development platform with $20 billion gross asset value, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in various stages of development. On behalf of institutional investors, Fengate manages transactions through the entire life cycle of real estate, from entitlement, development, stabilization, to ongoing asset management. The group manages real estate assets across the risk-return spectrum, focused on the following strategies: Land Entitlement, Build-to-Core, and Core.

The Role

The Vice President, Asset Management will be responsible for developing and executing strategic plans for assets within Fengate’s commercial portfolio, ensuring the achievement of investment objectives. This role involves comprehensive financial analysis, asset valuation, and the identification and implementation of value-add opportunities. The Vice President will also be responsible for financial performance reporting and the preparation and implementation of marketing strategies.

Key Responsibilities

• Partner with the Managing Director, Asset Management to drive the asset management of Fengate’s commercial investment portfolio.
• Develop and implement comprehensive strategies for individual assets focusing on property upgrades and improvements, life cycle maintenance plans, intensification through development opportunities, capital structure, hold/sell review analysis based upon financial and market opportunities and trends, and valuation reporting.
• Responsible and accountable for the operational and financial performance of the assets within given portfolio.
• Work closely with internal/external leasing brokers on proposals/RFPs and negotiations.
• Provide oversight at the property level to ensure economic viability and competitiveness of the properties within existing markets, and address areas of improvement.
• Carry out regular on-site reviews of the assets with a view to reviewing and improving business plans.
• Supervise and assist with the annual budget process; work collaboratively with internal and third-party property management and leasing teams to develop an operational and capital annual plan for each asset, including presenting and implementing annual operational plans and budgets.
• Ongoing monitoring of capital and operational maintenance requests to ensure they are in line with budget, operational expectations, and best practices, and assess impact on cash flows.
• Continuous review and comparison of historical and forecasted financial performance against key metrics, underwriting parameters, and comparison to budget. Update internal asset valuations and underwriting based on each asset’s investment performance and strategic initiatives. Present strategic initiatives and performance to the Executive Team.
• Understand each asset and portfolio’s competitive market positioning relative to quality and value, rents, lease terms, and occupancy, and monitor market trends in financial and supply/demand fundamentals.
• Continuously look for opportunities to create value, develop business cases for implementation, including financial analysis, and make recommendations accordingly.
• Work with development leads to ensure a strategic development plan is produced for development projects within the portfolio.
• Conduct market research on economic trends that may impact current and future investments.
• Assist with the development, training, and mentoring of other team members and internal teams.
• Perform other duties within the scope and purpose of the job, as requested.

The Candidate

Experience and Competencies

• 8 - 12+ years of related experience within real estate, preference given to candidates with specific knowledge of asset managing industrial and broader commercial assets.
• Ability to drive performance metrics aligned with the operational strategy and an exceptional attention to detail in financial analysis and forecasting.
• Experience in implementation of asset management, leasing, development, and financing strategies across commercial real estate asset classes – with an emphasis on industrial.
• Strong business acumen and judgment including negotiation, persuasion skills and diplomacy.
• Highly developed interpersonal and communication skills, both written and verbal, with emphasis on relationship building skills with lenders, developers, brokers, technical advisors, and legal advisors; at ease with both formal and informal presentations.
• Exceptional ability to develop and maintain relationships with a variety of external stakeholders with the ability to provide direction to third-party property management companies.
• Ability to work collaboratively with cross-functional teams, building consensus, communicating effectively and contributing to a positive, growth-oriented work culture.
• Keen analytical skills and proven ability to readily recognize, investigate, interpret and communicate areas of risk and opportunity in real estate.
• Self-starter with the ability to independently start/complete projects; results oriented with the ability to prioritize and manage multiple tasks and responsibilities, maintaining attention to detail.
• Low ego with a calm-demeanor, yet confident and capable of developing relationships at all levels; understands how to manage up, down and across an organization.
• Excellent and effective written and oral communication and presentation skills.

Education and Professional Qualifications

• Undergraduate degree in commerce, finance, economics, accounting, actuarial science, engineering, or other relevant technical discipline.
• CA, CFA, MBA or equivalent post-graduate education, and other relevant professional designations are considered an asset.
• A full driving license is required for this position. The role can be located in Toronto or Oakville – in a primarily in-office role.

Seniority level

• Seniority level

  Executive

Employment type

• Employment type

  Full-time

Job function

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