Job Description
time type
Full time
posted on
Posted 7 Days Ago
job requisition id
R2000458206
Location:
1040 – 1185 West Georgia Street, Vancouver, British Columbia, V6E 4E6 Choice Properties Real Estate Investment Trust is an owner, manager and developer of well-located retail and commercial real estate across Canada. Choice Properties' portfolio spans approximately 65 million square feet of gross leasable area and consists of over 700 properties primarily focused on supermarket-anchored shopping centres and stand-alone supermarkets.
Choice Properties’ strategy is to create value by enhancing and optimizing its portfolio through accretive acquisitions, strategic development, and active property management. Choice Properties' principal tenant is Loblaw Companies Limited, Canada's largest retailer. Choice Properties' strong alliance with Loblaw positions it well for future growth.
A commitment to continuous learning and development is a strong part of our culture.
Choice Properties is seeking to hire a
Retail Asset Manager . The Retail Asset Manager’s primary goals are to enhance and create further property value through all aspects within the assigned portfolio. Responsibilities primarily evaluating market trends and property specific information to develop strategies and financial models for each asset and region and working with leasing, operations, transactions, and development departments to execute on these strategies.
What You’ll Do:
Partner with the AVP, Asset Management, to optimize the financial performance of the portfolio and analyze and gain insights on portfolio performance and risk factors.
Assist in the creation and implementation of asset plans for designated region and achieve financial objectives for Choice’s income property portfolio.
Support in implementing opportunities for increasing revenue potential, including proposing and justifying capital improvements to enhance the asset’s value, optimizing return on investment, and promoting long term financial growth for portfolio.
Creation, enhancement, and management of various internal and external reporting & analytics with the goal of improving decision-making.
Assume a key role in preparing the annual property budget and reforecast information required for reporting.
Review monthly and/or quarterly financial statements at the property and portfolio level to track and analyze performance. Ensure accuracy if the NOI results and gain insights on portfolio performance and identify risk factors.
Review LLW, TI, and commissions payments to ensure we are tracking to budget.
Assist with financial analysis and/or covenant review for lease transactions of any type (new lease, renewals, surrender arrangements, lease buyouts, rent deferrals/abatements and terminations)
Assemble economic, market and industry research and conduct trend analysis for various Canadian cities and real estate sectors.
Review all JV lease activity, including entering all lease deals into our system for approval.
Assist with a variety of miscellaneous projects requiring financial decisions (e.g. redevelopment and re-leasing analysis, business evaluation);
Prepare as required, financial analysis of prospective deals and summarize benefits and risks in the required covenant requirements.
Prepare presentations for committees, senior management and/or co-owners as required.
Build relationships with, property, leasing, and development managers and other stakeholders.
Support other real estate and alternative asset portfolio related duties as assigned.
Qualifications:
4+ years of experience in Asset Management (experience in retail is considered a strong asset);
In-depth understanding and knowledge of property valuation and cash flows process & principles;
Excellent communication and interpersonal skills with the ability to foster and develop internal and external relationships (tenants, brokers, etc.);
Excellent organizational and time management skills and the ability to work independently and collaboratively to enact results and achieve desired outcomes;
Ability to utilize your critical thinking, analytical and decision-making skills in a fast-paced environment;
Keen attention to detail and a high degree of accuracy;
Experience with Argus Enterprise is considered an asset;
Exhibits Choice Properties’ CORE values and Blue culture to deliver results
The target base salary range for this role is $85,000 - $115,000. The salary will be determined based on several factors such as the successful candidate's skillset, knowledge, experience, and internal equity. Please note - the total compensation package for this role includes base salary plus variable pay.
Choice Properties REIT recognizes Canada's diversity as a source of national pride and strength. We have made it a priority to reflect our nation’s evolving diversity in the people we hire, and the culture we create in our organization. Accommodation is available upon request for applicants and employees with disabilities.
In addition, we believe that compliance with laws is about doing the right thing. Upholding the law is part of our Code of Conduct – it reinforces what our customers and stakeholders expect of us.
Number of Openings:
1
Location:
1040 – 1185 West Georgia Street, Vancouver, British Columbia, V6E 4E6 Choice Properties Real Estate Investment Trust is an owner, manager and developer of well-located retail and commercial real estate across Canada. Choice Properties' portfolio spans approximately 65 million square feet of gross leasable area and consists of over 700 properties primarily focused on supermarket-anchored shopping centres and stand-alone supermarkets.
Choice Properties’ strategy is to create value by enhancing and optimizing its portfolio through accretive acquisitions, strategic development, and active property management. Choice Properties' principal tenant is Loblaw Companies Limited, Canada's largest retailer. Choice Properties' strong alliance with Loblaw positions it well for future growth.
A commitment to continuous learning and development is a strong part of our culture.
Choice Properties is seeking to hire a
Retail Asset Manager . The Retail Asset Manager’s primary goals are to enhance and create further property value through all aspects within the assigned portfolio. Responsibilities primarily evaluating market trends and property specific information to develop strategies and financial models for each asset and region and working with leasing, operations, transactions, and development departments to execute on these strategies.
What You’ll Do:
Partner with the AVP, Asset Management, to optimize the financial performance of the portfolio and analyze and gain insights on portfolio performance and risk factors.
Assist in the creation and implementation of asset plans for designated region and achieve financial objectives for Choice’s income property portfolio.
Support in implementing opportunities for increasing revenue potential, including proposing and justifying capital improvements to enhance the asset’s value, optimizing return on investment, and promoting long term financial growth for portfolio.
Creation, enhancement, and management of various internal and external reporting & analytics with the goal of improving decision-making.
Assume a key role in preparing the annual property budget and reforecast information required for reporting.
Review monthly and/or quarterly financial statements at the property and portfolio level to track and analyze performance. Ensure accuracy if the NOI results and gain insights on portfolio performance and identify risk factors.
Review LLW, TI, and commissions payments to ensure we are tracking to budget.
Assist with financial analysis and/or covenant review for lease transactions of any type (new lease, renewals, surrender arrangements, lease buyouts, rent deferrals/abatements and terminations)
Assemble economic, market and industry research and conduct trend analysis for various Canadian cities and real estate sectors.
Review all JV lease activity, including entering all lease deals into our system for approval.
Assist with a variety of miscellaneous projects requiring financial decisions (e.g. redevelopment and re-leasing analysis, business evaluation);
Prepare as required, financial analysis of prospective deals and summarize benefits and risks in the required covenant requirements.
Prepare presentations for committees, senior management and/or co-owners as required.
Build relationships with, property, leasing, and development managers and other stakeholders.
Support other real estate and alternative asset portfolio related duties as assigned.
Qualifications:
4+ years of experience in Asset Management (experience in retail is considered a strong asset);
In-depth understanding and knowledge of property valuation and cash flows process & principles;
Excellent communication and interpersonal skills with the ability to foster and develop internal and external relationships (tenants, brokers, etc.);
Excellent organizational and time management skills and the ability to work independently and collaboratively to enact results and achieve desired outcomes;
Ability to utilize your critical thinking, analytical and decision-making skills in a fast-paced environment;
Keen attention to detail and a high degree of accuracy;
Experience with Argus Enterprise is considered an asset;
Exhibits Choice Properties’ CORE values and Blue culture to deliver results
The target base salary range for this role is $85,000 - $115,000. The salary will be determined based on several factors such as the successful candidate's skillset, knowledge, experience, and internal equity. Please note - the total compensation package for this role includes base salary plus variable pay.
Choice Properties REIT recognizes Canada's diversity as a source of national pride and strength. We have made it a priority to reflect our nation’s evolving diversity in the people we hire, and the culture we create in our organization. Accommodation is available upon request for applicants and employees with disabilities.
In addition, we believe that compliance with laws is about doing the right thing. Upholding the law is part of our Code of Conduct – it reinforces what our customers and stakeholders expect of us.
Number of Openings:
1
Please Note: If you have Employee Self Service (ESS) on Workday, apply to this job via the Workday application.
Choice Properties REIT is Canada’s leading diversified Real Estate Investment Trust. Led by an experienced management team, we are growing our retail portfolio of properties with necessity based grocery and pharmacy anchored retail real estate. The balance of the portfolio is comprised of high-quality industrial and office assets located in Canada’s largest markets. As a key business driver, the depth of our development pipeline creates immense value by capitalizing on a strong retail intensification program, combined with prime residential-focused mixed-use communities.
Choice Properties is a unique Real Estate organization; we operate as a highly successful innovative environment where employees are encouraged to demonstrate their highly evolved ability to achieve success in a resilient team-like environment. A commitment to continuous learning and development is a strong part of our culture.
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