Real Estate Valuations Specialist

Description

About Us:

Pure Industrial is one of Canada’s leading providers of industrial real estate, aiming to transform the Canadian warehousing and distribution landscape by providing a best-in-class industrial real estate offering and full-service supply chain solutions for our customers – from the first to the last mile.

Role Summary:

The Real Estate Valuations Specialist has a keen interest in commercial real estate with education and/or work experience in real estate valuations. They are accomplished in data management and analysis, strive to be best in class, and thrive in a fast-paced environment and a culture that embraces growth and change.

Core Responsibilities:

• Monitor target markets and maintain a network of industry contacts (appraisers, leasing brokers, property managers, etc.) to obtain up-to-date information to properly assess market trends.
• Periodically follow up on the real estate asset business plans and analyze how we are trending against original underwriting.
• Review and assess external annual appraisals, collaborating with appraisers and internal stakeholders.
• Manage and oversee the property tax appeal process with our primary consultant.
• Other duties and/or projects as required.
• Liaising with internal Asset Management, Leasing and Capital Projects teams to continuously update each model to reflect approved budget plans, capital spent to date, and latest leasing updates.
• Manage the quarterly and annual valuations process and maintain a database of valuation assumptions and performance trends at the property and/or portfolio-level quarter over quarter e.g. occupancy, vacancy rates, market rents, operating expenses, recoveries, property taxes, NOI, cap rates, discount rates, downtime, tenant inducements, leasing commissions, resultant levered and unlevered IRR and cash on cash yields.
• Build and maintain complex dynamic valuation models using Argus Enterprise software.
• Provide insightful valuation analysis to identify material quarterly valuation movements and drivers dissected by bay size, clear height, and submarket/geography.
• Report and defend valuation results to leadership and other internal and external stakeholders;
• Maintain internal property level cash flows using Excel for all assets in Pure’s portfolio, ensuring key modelling assumptions are aligned with budgets and current market conditions.
• Challenge and test assumptions and sensitivities at the asset and portfolio levels.

Required Skills and Experience:

• Professional proficiency in ARGUS Enterprise.
• Completed or working towards AACI, CFA or CBV designation is desirable.
• Self-motivated individual with a strong work ethic and a high level of attention to detail.
• Professional proficiency in Microsoft Excel (DCF financial modelling) is required.
• Strong interpersonal, verbal and written communication, problem-solving and project management skills.
• Work effectively in a team environment and independently as required.
• At least three years of relevant experience i.e. appraisal, transactional experience in commercial real estate investments and/or real estate investment banking (capital markets/brokerage)
• Ability to work well under pressure with multiple competing deadlines.
• Relevant undergraduate or advanced degree in finance, business administration, real estate or accounting.
• Ability to distill and present information effectively; strong attention to detail.

Our people are what makes us different. At Pure Industrial we are committed to workplace diversity and inclusion within our organization; therefore, we encourage all qualified persons from all backgrounds to apply. Accommodations are available, upon request, to all applicants with disabilities throughout our hiring process. Successful applicants will also be subject to a background check.