Director, Real Estate Asset Management Full-time Job
Feb 29th, 2024 at 11:03 Real Estate Toronto 120 views Reference: 5082Job Details
The Director is responsible for implementing the objectives of the Metrolinx Real Estate Strategy, by leading the oversight and management of properties containing buildings/structures as part of Metrolinx’s owned operational properties portfolio. Acts as single point of contact for all ownership responsibilities including overseeing and reporting on asset financial performance, tenant management, and heritage requirements. Liaises with Real Estate Property Management and Administration and Transactions Teams, and with Third-Party Projects Review (TPPR) Team, ensuring Metrolinx safety, reputational, and fiscal interests are protected and managed in real time. Responsibilities also as directed by the Vice President of Real Estate Management and the Executive Vice President of Real Estate Development.
What will I be doing?
- Directs real estate asset management protocols and management standards to minimize asset holding costs, increase revenue and improve safety conditions.
- Oversees and administers data visualization and reporting platform to connect various data sources.
- Acts as single point of contact and accountability for all Metrolinx properties containing buildings, reporting on tenants, asset condition, operational risks, and heritage requirements.
- Leads and represents Metrolinx in tenant relationships and communications, including possible tenant relocation efforts and termination of tenancies.
- Manages Metrolinx’s Real Estate Assets related technical issues and risks, facilitate effective conflict resolution, and communicate with intra agency divisions, external contracted partners, and stakeholders.
- Leads the oversight of Metrolinx’s real estate assets by developing and utilizing best in class KPIs to monitor performance of assets and recommend on-going and preventative maintenance, the acceptance of engineering services such as design, maintenance, condition assessments, and use of asset management standards and assuring compliance to standards throughout the asset lifecycle, utilizing the Real Estate Property Management Team.
- Leads real estate asset management reporting through the preparation and consolidation of integrated reporting; provides regular updates to Senior Management, internal and external stakeholders, the Board, and other interested parties; provides interpretation and actionable recommendations on both current delivery options and future strategic direction to decision-makers on real estate asset management; makes visible significant impacts.
- Leads in the identification of innovative best practices for operational excellence; determine which options are feasible; initiates business case process for change and leads recommended change management of identified structures or operating practices upon approvals.
- Builds relationships with Metrolinx Business units, other government agencies and provincial ministries, municipalities, and rail partners (CN, CP, VIA) to foster collaboration and ensure the implementation of Metrolinx’s goals and objectives.
- Cultivates and actively manages critical relationships with senior leadership across external stakeholder groups and government organizations to enhance the reputation of Metrolinx.
- Identifies gaps and inefficiencies based on performance analytics and works with internal staff and external stakeholders, government agencies and ministries to develop and improve policies, procedures, tools, systems and best practices.
- Leads performance reviews and revises mandates and objectives, reporting structures, practices and systems to meet Business Unit goals.
- Drives continuous improvement by identifying opportunities for innovation and introducing leading practices.
- Oversees annual and long-term budgets and staffing plans that adhere to corporate standards and applicable legislation.
- Meets service delivery objectives and manages outsourced professional advisory service contracts (ex. appraisals, brokerage, engineering) within budgetary limits, seeking out competitive contracts with reduced commissions, and utilizing the bundling of contracts where applicable in accordance with procurement and competition rules/guidelines.
- Assists in the prepares and delivery of timely reporting of financial, performance and risk results related to the Real Estate Management team, including the annual report.
- Directly supervises direct reports, hiring temporary additional staff in accordance with project needs.
- Manages and provides overall direction to project teams, including defining team member roles, responsibilities and expectations; ensures timely feedback to develop and maintain a cohesive operational unit and the optimum use of team skills.
- Other duties as assigned
What Skills and Qualifications Do I Need?
- Completion of a degree in real estate, business, law, planning or a related discipline – or a combination of education, training, and experience deemed equivalent.
- Minimum eight (8) years’ progressive experience leading real estate asset and property management programs, ideally for an owner/public sector agency within a multi-billion-dollar (>$1B) infrastructure/transit project environment. Strong knowledge and experience interpreting and applying relevant legislation and excellent understanding of various land use/realty contracts and agreements. Extensive experience leading, prioritizing, and managing numerous transactions in a collaborative, fast-paced environment.
- Knowledge and understanding of data visualization and reporting platforms such as Power BI or equivalent.
- Knowledge of/expertise in a variety of real estate transactions including leases, licenses, easements, and dispositions with a variety of key players including ministries and government agencies, municipalities, utilities and telecommunication providers.
- Leadership/senior level management oversight of a high performing team.
- Financial oversight experience to ensure teams are meeting objectives within budget and cost effectively
- Understanding of realty governance processes to ensure that transactions are conducted in a fair, open and transparent manner, consistent with Government and Metrolinx policies and directives.
- Knowledge of risk management systems and processes to identify and mitigate risk.
- Managing a variety of external service providers and technical experts including Legal, appraisals, brokers, surveyor, engineers.
- Proven leadership in change management to lead the implementation of new organizational structures, business models, technology and processes.
- Relationship building with senior level stakeholders in private sector corporations, land development organizations, government organizations and communities.
- Knowledge of Human Resources legislation (ex. Employment Standards Act) and experience working with collective agreements.
Don’t Meet Every Requirement?
If you’re excited about working with Metrolinx but your past experience doesn’t quite align with every qualification of this posting, we encourage you to apply. You just might be the right candidate for this or other roles. We are always looking for great talent to join our team.
Company Description
METROLINX is connecting communities across the Greater Golden Horseshoe. METROLINX operates GO Transit and UP Express, as well as the PRESTO fare payment system. We are also building new and improved rapid transit, including GO Expansion, Light Rail Transit routes, and major expansions to Torontos subway system, to get people where they need to go, better, faster and easier. METROLINX is an agency of the Government of Ontario. We embody our values in everything that we do. We Serve with Passion, Think Forward, and Play as a Team.
