Associate, Asset Management

2 weeks ago

Toronto, Ontario, Canada Tricon Residential Full time

Job Description

This Associate on the Asset Management team will work directly with Tricon's asset management team on both multi-family properties and concentrated communities of single-family homes across the US sun-belt. This individual's primary responsibilities will include compiling and reviewing financial information, analyzing weekly operating metrics, assisting with preparation of annual budgets, monitoring market fundamentals, and assisting in due diligence of new acquisitions. The Associate will also work closely with other members from the Asset Management team, the investment team, operations, development and accounting/corporate finance teams. This position will report to the VP, Asset Management and work out of our San Francisco or Orange County offices.
  • Work closely with asset managers to maximize the total return for each asset through the analysis of property fundamentals and identifying opportunities for improved performance
  • Participate in the drafting and implementation of strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition
  • Review weekly, monthly and quarterly reports and identify opportunities to improve performance
  • Monitor market trends in asset values, supply/demand fundamentals and operating costs to identify acquisition and disposition opportunities
  • Understand each property's competitive positioning relative to rents, occupancy and property attributes
  • Perform ongoing margin analysis of portfolio and competitive set to find efficiencies in operations
  • Monthly analysis and reporting on asset/ portfolio performance and returns compared to budget, same store, and market indices.
  • Capital expenditure and renovation tracking and analysis
  • Analyze revenue management productivity, metrics, and profitability on a regular basis
  • Real estate tax appeal research, analysis, and coordination
  • Insurance research and analysis
  • Evaluate each submarket, completing market studies of recommended rents, assessment of renovation potential, and budget input
  • Assist in research/analysis of new technologies/programs/initiatives across the portfolio
  • Work closely with Tricon's Operations group on rolling out asset management initiatives, accumulating and organizing property data, and training/troubleshooting
  • Interface with Tricon's Accounting, Corporate Finance and Investor Relations groups to address owner/investor inquiries and provide property highlights for presentations, asset tours, and quarterly public company reports
  • Collaborate with the Development and Marketing departments on new assets as they evolve from the planning stages, through lease up to full stabilization
  • Work closely with Revenue Management departments on a regular basis on pricing, renewals and other revenue initiatives
  • Work with the investment team to review underwriting of acquisition of multifamily projects and participate in on-site due diligence
  • In conjunction with Tricon's investment team, brokers and property managers, coordinate the transition of newly acquired properties into the company's systems as well as assist in the disposition efforts of select assets
  • Work with due diligence team to assist in creating business plans and identifying potential risks
  • May require approximately 25% travel to sites
  • 2-5 years of commercial real estate, multi-family or single-family financial analysis or asset management experience
  • BA/BS degree in finance, real estate or related field with strong record of academic achievement
  • Exceptional analytical skills
  • Strong financial modeling skills
  • Knowledge of real estate accounting and financial statement analysis
  • Advanced knowledge of MS Windows, Excel, and Word, Yardi experience a plus
  • Must possess the ability to work well within a team environment
  • Must be highly organized, able to prioritize multiple concurrent projects and be able to independently identify and solve key business problems
  • Understanding of the real estate industry, with a demonstrated interest in a career in real estate
  • Exceptional written and verbal communication skills and a high level of attention to detail and accuracy

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