Vice President Asset Management

Starlight Investments, in conjunction with WP Osborne Executive Search, is looking to fill a Vice President role for their Asset Management team.

Vice President, Asset Management

As a result of Starlight’s continued growth, we are seeking a Vice President, Asset Management to direct all asset management activities for a portfolio of multi-residential assets in Ontario and BC. Reporting to the SVP, Asset Management, the Vice President will lead a team of professionals with accountability for creating strategic plans, client reporting, financial analysis, identification and implementation of value-add opportunities, communication to third-party property management companies, creation of annual operational and capital budgets, and ongoing communication with investors, stakeholders and service providers.

The Vice President will have overview of all internal and external reporting, modeling, tracking and consolidation of results, assisting with acquisitions/dispositions and financing activities; and will play a critical role in coaching, mentoring and managing all team members to ensure career development and achievement of individual and team goals.

Duties and Responsibilities:

Internal reporting

• Oversight of report preparation and consolidation for the Asset Management financial variance reporting;
• Oversight of all tracking for the ESG program, and responsible for making recommendations for additional measures to reduce utility consumption, and further enhance the ESG.
• Oversight of internal reporting for the Asset Management team and Executives, including all data validation and development/evolution of new reporting as requested;
• Oversight of benchmarking expense exercise for Canadian Residential, with responsibility for ongoing oversight and preparation of recommendations for the asset management team;
• Tracking of all capital expenditures committed, spent, budgeted and underwritten for the individual assets and portfolios;

Annual Budgeting and Financial Review

• Oversight of expense analysis including utility consumption tracking and identifying cost savings opportunities;
• Oversight of the budget process and preparation of the annual budget (based on the underwriting model for each asset);
• Ensure data validity for full quarterly reporting and prepare ad-hoc reports as required;
• Assist in the creation of asset plans, annual valuations and annual operating and capital budgets in accordance with the asset plans;
• Complete full financial review and analysis on a quarterly basis for portfolio-wide variances and identify cost savings, revenue enhancing and value creation opportunities. Provide reporting to clients as requested on performance and activity within the portfolio;
• Assist with acquisitions, dispositions, financing and other transactions, and co-ordinate due diligence activities as necessary with other departments and third parties.

External Reporting

• Prepare ad-hoc reports as requested by external investors;
• Create business/asset plans for new acquisitions.
• Prepare, review, and present quarterly reporting and major decisions to investors;

Relationship Building

• Manage investor/client relations activities;
• Organize and lead property tours with client and other stakeholders;
• Conduct other day-to-day relations with third parties, including property managers, suppliers, joint ventures, lenders, brokers, consultants, advisors, accountants, lawyers, insurers, appraisers, and regulatory bodies.
• Liaise with other internal departments and team members regarding value-add opportunities and special projects;

Qualification

The Vice President, Asset Management will possess a University Degree in Business, Finance, Urban Development or related field and a minimum of 10 years of relevant real estate experience; a proven track record of coaching and mentoring teams; superior writing, presentation, relationship building, analytical and critical thinking skills. The successful candidate will be a proactive leader with an entrepreneurial spirit who can be creative and problem-solve effectively. An MBA or professional designation is considered an asset.

Application

Qualified candidates can submit their resume via LinkedIn. We thank you for your interest in this role, only qualified candidates will be contacted.

Starlight Investments

Starlight Investments is a leading global real estate investment and asset management firm. A privately held owner, developer and asset manager of over 77,000 multi-residential suites and over 9 million square feet of commercial property space, we offer a range of investment vehicles across various real estate strategies. Starlight’s guiding mission is to balance our tenure with visionary curiosity to create positive impact for investors and communities alike. At Starlight, we invest with impact. Learn more at www.starlightinvest.com or connect with us on LinkedIn.

WP Osborne Executive Search

WP Osborne is a privately owned search firm delivering full-service recruitment expertise for over 20 years to a broad range of clients in the real estate industry. Our expertise extends across every major asset class including multi-residential, office, industrial, retail, mixed-use, condo, hotels, and senior living across the functions of asset management, investments, development, construction, leasing, property management, portfolio management, finance, marketing, IT, HR and strategy.

Reference #1330 – Vice President Asset Management