Director – Investments and Asset Management (Real Estate Development)
Toronto, Ontario
$180,000 – $240,000 Plus Excellent Benefits & Potential for Profit Sharing
Our client is an established and growing real estate development firm, located in Toronto. They are looking for someone to fill a newly created position, reporting directly to the President within this small development investments and asset management group. This position will be instrumental in strategically evaluating new investment opportunities, offering someone a great opportunity to assist in sourcing and structuring new real estate development investments, monitoring the existing portfolio, and helping the President at a strategic level. The department is small so this will be a hands-on acquisitions/investments role where you will not have the assistance of a group of analysts.
The Director of Investments and Asset Management will also manage a portfolio of four-six real estate development projects in different stages of development. The client will only consider candidates who have at least some real estate development sector experience. If you are looking to grow within a well-respected and dynamic team, apply now.
Responsibilities:
- Support and manage a portfolio of active residential developments projects
- Participate in underwriting new investment opportunities to acquire land and develop residential assets.
- Maintain strong acquisition standards
- Oversee the execution of development plans for active development projects from acquisition to completion of the development or disposition taking a proactive and “hands-on” approach to managing risk and maximizing returns on all projects. Typically, Associate Vice President manages between 5 to 7 investments.
- 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 on time and on budget.
- Review, critically assess and prepare project cash flows and pro forma financial projections
- Regularly evaluate market conditions to identify changes that give rise to opportunities to either further maximize returns or mitigate risk.
- Prepare advanced financial analyses to assist senior management in the evaluation of various real estate decisions at different stages throughout real estate development cycle.
- Conduct budget-to-actual variance analysis for existing projects; ongoing budget management; in-depth understanding of costs incurred vs. cost to complete. Creating cash flow models, sensitivity tables, rent roll analyses, joint venture waterfall models, and other financial analyses required to evaluate and pursue acquisition opportunities.
- Prepare and present updated financial projections and executive reports to the executive team.
- Prepare semi-annual investor reports that concisely distill data in order to provide investors with required project progress updates and updated financial projections.
- Lead and mentor junior team members to support their development.
Requirements:
- Must have over five years of relevant real estate development experience
- Minimum of a bachelor’s degree in business / finance, economics, engineering or related field
- A strong understanding of the full lifecycle of development from acquisition to approvals, unit sales, financing, construction, home closings and disbursements.
- Experience conducting financial analysis for development projects using advanced models in MS-Excel.
- Excellent communication skills
If you are interested in learning more about this opportunity, please apply now by sending your resume to elan@winchesters.ca. Unfortunately, due to the high volume of applicants, only those individuals chosen for interview will be contacted.