(2024-05-28) AVP, Residential Asset Management - Toronto, Canada - Fengate Asset Management

Description

Fengate Asset Management (Fengate) is a leading alternative investment manager focused on infrastructure, private equity, and real estate strategies.

Founded in 1974 in Hamilton, Ontario, and currently with offices in Ontario and Texas and 230+ team members across North America, Fengate has built success and a trusted reputation with investors and industry partners.

The firm currently manages over C$8+ billion in capital commitments in support of more than C$35+ billion in gross asset value, on behalf of over 50+ institutional investors across North America, Europe, and Asia.

The firm believes that acting responsibly to its stakeholders and communities is fundamental.

Fengate is a signatory of both the Institutional Limited Partners Association (ILPA) Diversity in Action initiative and the United Nations-supported Principles for Responsible Investment, integrating environmental, social and governance (ESG) principles into all stages of the firm's investment process.

In 2021, Fengate established its ESG Committee and its EBID (Equity, Belonging, Inclusion and Diversity) Think Tank, consisting of leaders and employees of all backgrounds and levels throughout our firm, to advance and govern our ESG and EBID objectives.

Fengate has achieved Platinum Club member status as one of Canada's Best Managed Companies, retaining this designation since 2007, and has been certified as a Great Place to Work.

Over the past year, Fengate was named one of Canada's Best WorkplacesTM and as a Best WorkplaceTM for Financial Services & Insurance, Inclusion, Women, Today's Youth, Professional Development, and Ontario, and as one of Best WorkplacesTM with Most Trusted Executive Teams.

The firm has also been recognized with Waterstone Human Capital's 2022 Most Admired Corporate CulturesTM award. This program recognizes best-in-class organizations for having cultures that have helped them enhance performance and sustain a competitive advantage. Only 50 organizations are awarded this prestigious corporate culture award each year.


AREAS OF BUSINESS
Real Estate

Since 1974, and with 20 years of experience managing institutional capital, Fengate Real Estate has been developing and managing real estate assets across commercial and residential asset classes and the risk-return spectrum.

To-date, Fengate Real Estate has completed over 100 property and investment transactions, which total more than C$15 billion of competed value, including a pipeline of over 25,000 residential homes and 5 million square feet of industrial space.

Infrastructure

In 2006, Fengate established its first infrastructure fund with a mandate to invest in infrastructure assets in Canada.

Today, Fengate is one of North America's most active infrastructure investors and developers, with a project portfolio of more than 45 assets valued at over $20 billion.

The firm focuses on mid-market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors across Canada and the United States.

Private Equity

In 2017, Fengate launched its private equity platform to partner with entrepreneurs looking to accelerate the evolution of their businesses.

To date, Fengate Private Equity has made eight platform and 20 add-on investments within the business services, consumer products and services, and healthcare sectors in Canada and the United States.

Position & Successful Candidate Profile


Company:
Fengate Asset Management


Title:
AVP, Residential Asset Management


Reports To:
Vice President, Residential Asset Management


Location:
Toronto


OPPORTUNITY

The AVP, Residential Asset Management will be responsible for developing plans for assets within their assigned portfolio and ensuring achievement of investment objectives.

They will be responsible for financial analysis and asset valuation, identification and implementation of value-add opportunities, communication with internal and external leasing brokers, working with property managers, creation of annual operational and capital budgets, financial performance reporting, preparation and implementation of leasing and marketing strategies.

KEY RESPONSIBILITIES

• Work with the Vice President, Residential Asset Management to assist with management of Fengate's growing multiresidential investment portfolio
• Develop and implement comprehensive strategies for individual assets focusing on: leasing profile, property upgrades and improvements, life cycle maintenance plans, intensification through development opportunities, capital structure, hold/sell review analysis based upon financial and market opportunities and trends, and valuation reporting
• Responsible and accountable for the operational and financial performance of the assets
• Providing oversight at the property level to ensure economic viability and competitiveness of the properties within existing markets, and addressing areas of improvement
• Carry out regular onsite reviews of the assets in view to reviewing and improving business plans
• Supervise and assist with annual budget process; working collaboratively with internal and third party property management and leasing teams to develop an operational and capital annual plan for each asset, including presenting and implementing annual operational plans and budgets
• Ongoing monitoring of capital and operational maintenance requests to ensure they are inline within budget, operational expectations and best practices, and assess impact on cash flows
• Work closely with internal/external leasing brokers on leasing proposals/RFPs and negotiations
• Continuous review and comparison of historical and forecasted financial performance against key metrics, underwriting parameters and comparison to budget. Update of internal asset valuations and underwriting based on each asset's investment performance and strategic initiatives. Presentation of strategic initiatives and performance to Executive Team
• Understand each asset and portfolio's competitive market positioning relative to quality and value, rents, lease terms and occupancy and monitor market trends in financial and supply/demand fundamentals
• Continuously look for opportunities to create value, develop business cases for implementation, including financial analysis, and make recommendations accordingly
• Work with the Development lead to ensure a strategic development plan is produced on development projects within the portfolio
• Conduct market research on economic trends that may impact current and future investments
• Assist with development, training and mentoring of other team members and internal teams
• Other duties within the scope and purpose of the job, as requested

KEY QUALIFICATIONS

To qualify, candidates must have:

• 810 years of related experience with real estate; preference given to candidates with knowledge and experience managing investments. Direct residential or hospitality management experience is considered an asset
• Undergraduate degree in commerce, finance, economics, accounting, actuarial science, engineering, or other relevant technical discipline
• CFA, MBA or equivalent postgraduate education, and other relevant professional designations are considered an asset
• Indepth knowledge of real estate industry including general market practise and standards
• Ability to drive performance metrics aligned with the operational strategy and an exceptional attention to detail in financial analysis and forecasting
• Experience in implementation of asset management, leasing, development, and financing strategies across the multiresidential real estate asset class
• Strong business acumen and judgment including negotiation, persuasion skills and diplomacy.
• Highly developed interpersonal and communication skills, both written and verbal, with emphasis on relationship building skills with lenders, developers, brokers, technical advisors, and legal advisors; At ease with both formal and informal presentations
• Ability to provide direction to thirdparty property management companies
• Ability to work collaboratively with crossfunctional teams, building consensus, communicating effectively and contributing to a positive, growth oriented work culture
• Keen analytical skills and proven ability to readily recognize, investigate, interpret and communicate areas of risk and opportunity in real estate.
• Selfstarter with the ability to independently start/complete projects; results oriented with the ability to prioritize and manage multiple tasks and responsibilities, maintaining attention to detail
• Proficiency in Excel
• Valid driver's license required; vehicle ownership not mandatory

CORE COMPETENCIES

• Authentic– Inspiring trust and being courageous.

- on Performance – Being accountable and driving results.

• Stakeholders – Knowing the needs of those who rely on you.
• Effective Relationships– Collaboration and communication.
• Talent– Attracting and developing diverse talent.
• Managing Execution – Planning and directing work
• Bringing out the Best – Living the vision and engaging others in it.
• Creating the New and Different – Strategic mindset and innovation

LOCATION
Working primarily from Fengate's downtown Toronto office with travel as required, including to our office in Oakville.
Fengate has a flexible work environment where employees can work from home up to 2 days/week.

Fengate is an equal opportunity employer, we strive to attract and retain a diverse workforce and are committed to promoting diversity, equity, inclusion, and belonging in the workplace.

It is a core priority at Fengate to create, operate with, and continuously grow and sustain an inclusive culture that respects and connects the diversity of our team, our clients, our partners, and the communities we work in.

We are committed to providing accommodation for persons with disabilities. If you require accommodation, we will work with you to meet your needs.