Vice President, Asset Management, Canada

Harrison Street•Toronto, ON

2d•Onsite

About The Position

Harrison Street Asset Management ("HSAM") is a leading global alternative investment management firm focused on real estate, infrastructure, and credit strategies across North America and Europe. Headquartered in Chicago, Toronto, and London with offices across North America, Europe, Asia and the Middle East, the firm has over $108 billion in assets under management on behalf of institutional investors and registered investment advisors globally. Founded on a culture of innovation, HSAM is an early mover in alternative real estate and mid-market infrastructure. Today, the firm’s global team, consisting of more than 520 professionals, is committed to creating long-term value through deep sector expertise and forward-thinking strategies. Harrison Street is seeking a Vice President in the North American Asset Management group, based in its growing Toronto office. This position will report to a director on the team and will be responsible for direct oversight of an evolving portfolio that initially may consist of senior housing and student housing assets. The composition of the portfolio will evolve as new investments are made, and will include ground up developments, redevelopments, and operational properties across Canada. Currently, Harrison Street’s Canada Alternative Real Estate Fund has committed to approximately $2.1 billion CAD of transactions since launching in 2021 across the country. Candidates should possess substantial experience in asset management, joint venture partnerships, capital markets (including debt financings), financial analysis, leasing, and ground-up developments. The ideal candidate is a strategic, analytical team player who can take ownership of a portfolio from day one and thrive in a fast-paced, entrepreneurial environment. A background in student housing and/or senior housing would be preferred.

Requirements

8+ years of applicable real estate asset management experience
Outstanding interpersonal and communication skills, both oral and written
Ideally experienced in both commercial and senior or student housing sectors. Alternatively, a quick study and eager to learn new asset classes
Confidence and maturity to represent Harrison Street externally
Excellent financial and analytical skills; proficiency in Excel required, and Argus preferred
Shows the ability to work both independently and collegially in teams
Highly motivated and organized self-starter

Nice To Haves

A background in student housing and/or senior housing would be preferred.

Responsibilities

Provide oversight, management, and analytical support of a portfolio of alternative real estate properties.
Develop and execute asset-level business plans, with responsibility for NOI value creation, debt refinancings, JV partner exits and future asset dispositions
Oversee wholly owned and joint venture investments, as well as the respective third-party property management and operating partner relationships
Responsible for development of annual operating and capital budgets, and for ongoing monitoring of financial performance and debt covenant compliance
Lead regular meetings with property managers and operating partners to review leasing performance, operating results, and market conditions
Maximize cash flow and value creation through effective revenue management and achievement of operating expense efficiencies
Prepare necessary Internal Memorandums regarding key decisions and/or capital calls and present to Investment Committee for approval
In conjunction with Asset Management Analyst/Associate support, perform financial modeling, lease analyses, property valuations, JV waterfall calculations, etc.
Alongside construction consultants, oversee the execution of ground up development and redevelopment projects to ensure on-budget and on-schedule completion
Review and approve quarterly third-party appraisal reports in collaboration with Portfolio Management team
Assemble and review economic, demographic, and other market information for each asset area
Develop and maintain relationships with leasing and investment sales brokers and other local knowledge sources to monitor market conditions
Support the Transactions team in underwriting new investments, operating partners, and property managers
Support Canadian ESG initiatives in collaboration with the Canadian Director of Asset Management and Chicago-based Impact team
Maintain and monitor key department and firm schedules
Contribute to the development and improvement of existing financial tools, models, templates and processes
Actively mentor, train, and guide the career development of more junior professionals on the team
Other duties as assigned