Asset Manager – Real Estate Development
Downtown Toronto – hybrid (Fridays from home)
$110,000-$140,000 base plus 10% bonus and a lucrative profit-sharing piece
Our client is a growth-oriented real estate development firm in downtown Toronto. The company is adding this brand-new position to the team where you will truly own the proformas for 10+ mid- and high-rise projects in the GTA. Post acquisition, the project will move to your division and you will have full financial responsibility for a number of interesting projects, while managing one analyst.
Responsibilities:
- Take ownership of the development models / proformas for each active real estate project and oversee the execution of development plans for active development projects from acquisition to completion of the development; taking a proactive and “hands-on” approach to managing risk and maximizing returns on all projects;
- Oversee monthly performas updates, equity requirements, upcoming property tax payments, upcoming loan and insurance renewals and expirations;
- Run various scenarios in pro forma to evaluate options (e.g. sales launch date; additional height, unit mix, etc.) and determine best outcome for the project;
- Review, critically assess and provide updates to the company’s investment committee on overall project budgets with inputs from each functional group (finance, construction, development, sales and project monitoring consultants).
- Participate in all key project decisions and critical project management meetings through the entire development life cycle (planning, design, sales, permits, construction, and delivery phases) to ensure the project is delivering target returns.
- Review legal documents/agreements typical in real estate development projects (LOI, DM Agreement, JV Agreements, loan docs, fee proposals); ensure the financial models are accurately tracking the agreements
- Regularly evaluate market conditions to identify changes that give rise to opportunities to either further maximize returns or mitigate risk
- Manage the execution of the forecasting process through the maintenance of monthly forecast models and ensuring financial models reflect market realities as well as information from each functional group
- Review and critically analyze progress draw reports
- Oversee the organization and consolidation of project information, including financial summaries from the development models, to prepare regular quarterly or monthly investor reporting packages
- Maintain strong financial modeling standards (e.g. employ prudent leverage, limit our exposure to planning and development risk, etc.)
- Drive process improvements and maximize efficiency
- Identify and rectify “red flags” (e.g. budget overruns) and have a working understanding of the financial results to provide operational insights and recommendations to correct or mitigate these issues
- Support and mentor the Senior Analyst
Qualifications
- Minimum of 4 years of relevant experience with real estate finance, development or project management
- Experience conducting asset management and financial analysis for development projects using advanced models in MS-Excel
- Experience developing and maintaining budgets, project proformas, cash flow projections and financial reports
- Strong understanding of development financing (typical financing structures at various stages of development) and land economics.
If you are interested in learning more about this opportunity, please apply now by sending your resume to elan@winchesters.ca or by visiting our website www.winchesters.ca. Unfortunately, due to the high volume of applicants, only those individuals chosen for interview will be contacted.