Senior Asset Manager

15 hours ago

Toronto Ontario, Ontario, Canada Romspen Investment Corporation Full time

Senior Asset Manager


Romspen is a leading Canadian non-bank mortgage lender specializing in commercial and industrial real estate mortgages. Our investments are comprised mostly of commercial and industrial first mortgages on properties primarily across Canada and the United States. We provide customized mortgage solutions for term, bridge and construction financing. The current overall real estate mortgage portfolio is $3 billion. Over the past 25 years we have invested over $8 billion in over 1000 real estate mortgages and have consistently earned strong absolute cash yields to investors.


As a Senior Asset Manager with over a decade of experience, you will play a critical role in overseeing and optimizing the performance of a portfolio of real estate assets. Leveraging your extensive expertise in asset management, financial analysis, and strategic planning, you will drive value creation, mitigate risks, and ensure the successful monetization of a dynamic portfolio. This is a “Hands on Role” which requires that the ideal candidate will have spent time at a property understanding building operations and how the budgets are derived which is far different than reading a report generated by a property management firm.


Responsibilities


Financial Analysis:

  • Assess investment opportunities, and dispositions to support strategic decision-making.
  • Coordinate budgets, review estimations and analyze pro-formas based on the proposed course of action and strategic alternatives, including cost to complete, timing and anticipated proceeds.
  • Monitor cash flows and develop action plans to identify and address performance deficiencies. Recommend and implement corrective actions as necessary.


Risk Management:

  • Present project plans for approval and report regularly on the status of the project timing and budget.
  • Identify, assess, and mitigate risks associated with asset investments, including market, operational, and regulatory risks.
  • Develop asset specific risk mitigation strategies and contingency plans.
  • Ensure compliance with relevant laws, regulations, and industry standards.


Reporting:

  • Provide regular updates and reports on asset performance, market trends, and investment strategies.
  • Collaborate with internal teams, such as acquisitions, finance, and legal, to align asset management objectives with organizational goals.


Asset Optimization:

  • Support the development and construction team with respect to entitlement and construction of income producing assets
  • Review zoning issues, and implement strategies to improve asset performance, such as capital improvements, repositioning, and lease negotiations. Identify and solve operational inefficiencies to boost productivity and profitability.
  • Stay abreast of market trends, industry best practices, and emerging technologies to drive continuous improvement.
  • Lead, provide milestone targets and scheduling for project team, continuously follow-up with project team as to their progress.
  • Attend construction meetings related to tenant buildouts and building capital expenditures (CapEx); regularly visit projects under construction.
  • Oversee CapEx projects to ensure timely and within budget completion.
  • Establish aggressive and achievable timelines for team consultants.


  • Undertake ad hoc projects as required.


Qualifications

  • MBA degree in finance, real estate, business administration, or related field is an asset.
  • Minimum of 10 years of experience in asset management, focusing on real estate investment. The ideal person would be one that perhaps assisted in items such as a tenant buildout in a commercial space.
  • Experience having successfully managed a diverse portfolio of assets in the various classes and delivering strong financial performance from a hands-on perspective. That would include, commercial, industrial, residential and office.
  • Participated in an asset disposition and had an active role in the process of broker selection, offering memorandum preparation, etc.
  • Proficiency in financial analysis, including cash flow modeling, valuation techniques, and investment analysis.
  • Strong understanding of real estate markets, asset classes, and industry trends with the ability to negotiate contracts and assist in defining the scopes of work.
  • Excellent communication and interpersonal skills, with the ability to collaborate effectively with internal and external stakeholders.
  • Strategic thinker with the ability to develop and execute complex asset management strategies. Must be inquisitive and question what is presented and chase down the details to determine the validity. An example of this would be questioning the conclusions of an appraisal report and conducting their own market study to validate the valuation.
  • Able to problem solve and perhaps interact with a property service provider on a technical level to understand the issue and derive a cost-effective solution.
  • Detail-oriented with strong analytical and problem-solving skills.
  • Knowledge of relevant legal, regulatory, and compliance requirements.
  • Proficient in all Microsoft Office platforms.
  • Experience with Yardi preferred.
  • Willingness to travel within Canada and US for property inspections and municipal meetings.
  • Commitment to developing and implementing best-in-class practices.

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