Working at NWM
- Competitive compensation package and benefit plan
- Employee Assistance Program
- Participation in the company profit sharing program after 6 months
- Group RRSP contributions after 1 year
- Close to transit, bike-commuter facilities, centrally located to shopping and restaurants
- Support wellness by providing healthy snacks
- Support personal development with tuition reimbursement and study days for approved programs
- Volunteer day to give back to our community
- Personal leave days
- Flexible, respectful, and thoughtful environment
Team and Position Summary
Nicola Crosby, a division of Nicola Wealth Management, was established in 2005 to provide Nicola clients with a unique opportunity to be part of a diversified portfolio of income-producing real estate in Canada and the U.S. Over the past 10+ years, Nicola Crosby’s portfolio has grown to over 110 properties valued at over $2.2 billion.
We bring a focused, disciplined, transparent, and informed perspective to the real estate holdings we purchase through SPIRE LP and SPIRE US LP portfolios. At the same time we are proactive and nimble, anticipating which properties will best serve our investors and overall portfolio mix, acting quickly and decisively to make opportunistic acquisitions.
We also oversee all properties in our portfolios, ensuring investment stability and minimizing exposure to factors such as lease, tenant and debt maturities and exposure while maximizing returns for our investors.
The continued growth of the business has led to the need for an additional Asset Manager to join Nicola Crosby’s small but dynamic and growing team based in Vancouver. Reporting to the new Senior Vice President of Asset Management, the Asset Manager will have a chance to manage a diverse portfolio of properties in an organization that blends the advantages of a well-capitalized investor group with those of a smaller, more entrepreneurial and agile organization. As part a small team, the successful candidate will have a chance to truly impact the business and also see the impact of their work.
Specific duties will include but will not be limited to the following:
- Developing and executing annual property business plans, including forecast of performance metrics
- Maximizing the total return of each asset through the analysis of property efficiencies, identifying opportunities for improved performance and developing and implementing asset repositioning strategies
- Working with leasing agents on marketing and leasing strategies. Negotiating leases directly with tenants and through legal advisors
- Directing and working closely with third-party property managers in the development of annual operating budgets, including capital investment programs
- Completing a detailed review of monthly financial reports from property managers, ensuring the integrity, accuracy, consistency and completeness of reporting (e.g., financial statements, capital plans and amortization schedules, tenant recovery schedules, etc.)
- Undertaking property site inspections on a semi-annual basis
- Directing property managers regarding operational issues including tenant relations, capital expenditures, collections and bad debts
- Managing the activities of third party property managers to ensure that high quality services are provided to tenants
- Undertaking detailed review of third party appraisals
- Reviewing property tax assessments and directing appeals, as required
- Working with the Acquisitions Team during due diligence process on prospective purchases, as required
- Completing Hold/Sell analysis, recommending the sale of assets that no longer meet investment criteria, including management of the disposition of targeted assets
- Staying abreast of industry trends and Best Practices
Qualifications and Experience
The ideal candidate will bring a proven track record in the real estate industry having worked in leading progressive organizations in asset management, property management, appraisal, brokerage or leasing roles. Strong analytical, financial and negotiation skills will be required as will the ability to bring innovative, resourceful and creative ideas on how to best maximize value.
Nicola Crosby is known for its culture and great people and as such, the new Asset Manager must be a highly collaborative, self-motivated, high performing team player capable of contributing to an award-winning culture.
- Minimum of 10 years of real estate experience in appraisal, real estate brokerage or leasing
- Exposure to a combination of office, industrial and retail properties in a fiduciary capacity is required
- Required 3+ years’ real estate asset management experience, preferably with an institutional investor or manager, is ideal
- Undergraduate degree with an emphasis in finance, real estate or related discipline is required. MBA or related graduate degree is desirable
- Solid understanding of investment fundamentals and North American real estate dynamics
- Well-developed negotiation skills with proven ability to negotiate complex lease transactions
- Advanced understanding of real estate valuation methods
- Excellent financial and analytical stills and good understanding of accounting fundamentals
- Strong computer skills with advanced knowledge of MS Excel. Experience with Yardi and Argus is advantageous
- Understanding construction fundamentals and project management is an asset.
- Some travel is required.
- A valid BC driver’s license and use of a vehicle is necessary.
- Must be legally eligible to work in Canada for any employer.
To explore this opportunity
Please contact Spencer Covey, Saamy Karim, Derrick Chow in our Vancouver office at 604-685-0261, or submit your resume and related information to [email protected] with “Asset Manager – Nicola Crosby” in the subject line of your e-mail.