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Executive Director, Asset Management, Canadian Multi-Family


Overview

The Executive Director of Asset Management (EDAM) will be responsible for the overall asset management of a portfolio of Canadian multifamily buildings ensuring that the portfolio exceed targets set in the annual plan asset management plans and budgets. The EDAM will oversee key members of the asset management team to execute the business plan, including analysts and asset managers. The EDAM will also work to strengthen vendor and client relationships, complete acquisition and disposition activity, as well as sourcing potential new business relationships as needed.

Application

Qualified candidates can submit their resume to humanresources@starlightinvest.com

Duties and Responsibilities

Asset Plan Execution:

  • Evaluate performance of the assets vis-à-vis the individual asset plans, and recommend and implement revisions as necessary
  • Complete full financial review and analysis on a monthly and quarterly basis
  • Set annual operational and capital budgets in accordance with asset plans
  • Prepare leasing and marketing strategy to maximize the income profile and value of each property, supported by market-based comparables and competitive information
  • Provide direction to 3rd party property management companies regarding day-to-day management and operation activities
  • Ensure that the capital plan is executed in accordance with the timing, scope and budget included in the original annual plan, and prepare annual capital budgets for the assets
  • Monitor progress of capital projects to ensure timely completion and quality control
  • Attend property tours semi-annually or on an as needed basis, action any items of concern noted
  • Determine the operating assumptions for new assets in the acquisition process and develop asset plan. Provide operating assumptions for in-fill development projects
  • Ensure disposition process runs smoothly with asset manager/analyst team
  • Ensure that his/her team is appropriately managing property tax appeals process

Reporting:

  • Monthly and quarterly review of asset management reports and business plan execution to ensure that projects are being completely on time and within budget; client reporting as required
  • Review and present ad hoc reporting as reasonably requested by Client

Value Add Opportunities:

  • Work with his/her team to ensure that all possible value creation opportunities are identified
  • Prepare business plan recommendations for internal and external approval to execute value creation opportunities
  • Execute and implement such programs with assistance from capital projects teams and/or 3rd party property management companies

Relationship Building:

  • Take ownership of the acquisitions, dispositions, and financing transactions related to his/her portfolio and act as the lead communicator with all related third parties (property managers, lawyers, etc.)
  • Coordinate due diligence activities with other departments and/or third parties.
  • Manage investor/client relations activities
  • Promote the Starlight brand in the real estate community
  • Liaise with other internal departments and team members regarding value-add opportunities and special projects (i.e. energy initiatives)
  • Ensure compliance to conditions set in place by financial institutions/lenders, municipalities and other governing bodies (i.e. TSSA, ESA). Provide updates and direct activities to correct any deficiencies
  • Organize and lead property tours with Client and other stakeholders
  • Conduct other day-to-day relations with third parties, including property managers, suppliers, joint ventures, lenders, brokers, consultants, advisors, accountants, lawyers, insurers, appraisers, and regulatory bodies
Requirements
  • Degree in Business, Urban Development, and/or related field; MBA or professional designation an asset
  • 10+ years experience in a related field
  • Time-management, prioritizing, and multi-tasking skills
  • Oral and written communication skills
  • Organizational skills
  • Analytical and problem solving skills
  • Interpersonal skills, work well with others
Location

Head office

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