Head of Portfolio Management

Recipe Unlimited Corporation is Canada's leading full service restaurant company. Home to such iconic brands as Swiss Chalet, Harvey's, St.Hubert, Montana's, Olive Garden Canada, Bier Markt, East Side Mario's, The Landing Restaurant Group, New York Fries, The Pickle Barrel & Catering, State & Main, Elephant and Castle, Original Joe's, Fresh Kitchen + Juice Bar, The Burger's Priest, Blanco Cantina and Anejo. With this diverse portfolio of restaurants our Home Office Teammates have the opportunity to work on a wide variety of some of the most popular, well-loved brands in Canada. Variety isn't the only thing we offer – we are passionate about our industry, we celebrate and support diversity of thought, we are innately curious and encourage our Teammates to take ownership. Above all else, we believe in doing the right thing for our people, our communities and our planet.

Reporting to VP of Real Estate, Head of Portfolio Management will oversee portfolio management activities for all RECIPE brands, including lease renewals, management of redundant leased locations, and disposition of RECIPE-owned real estate. This role will also oversee development, coordination and implementation of site specific portfolio management plans for restaurants across all RECIPE brands, taking into consideration all triggers of action including lease expiries, franchise agreement expiries, conversions and renovation obligations.

What you will do in this role:

Renovations Compliance and Extension of Leases for Renovations 15%

• Monitor lease expiries, franchise agreement expiries, conversions and renovation obligations to ensure that all brand activities are coordinated in compliance with leases
• Develop and coordinate ongoing use of appropriate tracking and reporting tools
• Attend pipeline meetings, brand update meetings and monthly portfolio meetings to report on activities and facilitate decision-making for compliance

Lease Renewals 30%

• For brand(s) assigned to Head of Portfolio Management:
• Track upcoming lease expiry and notice dates (at least 4 years out)
• Solicit input from Real Estate NRO Team, Franchising and the Brand(s) re plan to renew/relocate/close
• Negotiate business terms of lease renewals
• Keep franchisees informed and involved throughout the renewal process
• For brand(s) assigned to Portfolio Manager:
• Supervise and provide assistance/guidance to the Portfolio Manager
• Monitor progress on a regular basis
• Prepare and present lease renewal reports for REC approval

Management of Redundant Leased Locations 10%

• For brand(s) assigned to Head of Portfolio Management:
• Assist Brand in assessing closure
• Manage landlord communication
• Manage process of negotiating buy-out with landlord or sourcing and negotiating deal with subtenant
• For brand(s) assigned to Portfolio Manager:
• Supervise and provide assistance/guidance to the Portfolio Manager
• Monitor progress on a regular basis

Disposition of Recipe-Owned Real Estate 10%

• Assist the Vice President, Real Estate Portfolio Management, in the development of disposition plans for Recipe/Cara-owned real estate
• Implement disposition plans by:
• Sourcing purchasers from the real estate investment community
• Negotiating purchase and sale agreements, lease-backs, and all related documents
• Managing the transaction closing process

Property Management & License Renewals 10%

• Manage the Portfolio Management Coordinator as it pertains to property management issues such as landlord/tenant disputes, non compliance of the landlord's obligations and assist franchisees in getting issues resolved
• Manage the Portfolio Management Analyst who processes all license applications and renewals for all restaurants as well as provide all sales reporting required under our leases for non percentage rent payments

Portfolio Management Database 10%

• Lead the development and ongoing evolution of the Portfolio Management Database so as to address the ongoing and evolving needs of the Portfolio Management team
• Implement appropriate controls to ensure the ongoing integrity of the Portfolio Management Database

Special Projects 5%

• Assist the Vice President, Real Estate with special projects, as needed

Administration 10%

• Develop standards, processes and controls for the work of a team of 3 associates
• Provide coaching and guidance with problem-solving
• Conduct performance appraisals

What we are looking for from you:

• 8 years experience in the industry, with some management or project management experience.
• Bachelor's Degree
• Leading direct reports for improved performance
• Excellent leadership skills
• Solid understanding of Canadian commercial real estate market
• Strong relationships with landlords
• Excellent negotiation skills
• Solid understanding of lease language and how it can impact the business terms of a deal
• Excellent time management skills and ability to deal with multiple priorities
• Proficiency in Microsoft Word, Excel and Access
• Dealing with and coordinating the activities of multiple internal and external stakeholders
• Leading negotiations with challenging landlords
• Balancing RECIPE's needs with the interests of franchisees
• Managing high volume workload
• Meeting deadlines for lease renewals
• Interpreting lease language

What's in it for you?

• Flexible/Hybrid work environment
• You'd be joining a close-knit, innovative team of creative and energetic go-getters
• You'd be a part of Canada's largest full-service restaurant company that leads the industry in size and innovation
• 20% associate discount dining card and monthly dining allowance valid at participating Recipe brands
• A welcoming, fun and safe work environment founded on respect
• Career advancement opportunities with a company that owns some of Canada's most iconic restaurant brands
• Industry-leading benefits, wellness programs, and total rewards programs

Recipe is committed to providing a diverse, equitable and inclusive workplace. Celebrating people, being passionate and curious, owning it, and doing the right thing are the values that guide how we build our teams, support our franchisees and create a company that unlocks the full potential of everyone.

Recipe is dedicated to providing accommodations in accordance with applicable human rights and accommodation legislation. For individuals that require accommodations please contact