Date Posted: 08/30/2024
Req ID: 39515
Faculty/Division: Capital Projects
Department: Real Estate Department
Campus: St. George (Downtown Toronto)
Description: The remarkable growth of Toronto has placed an acute focus on the University of Toronto's real estate assets across all three campuses. These assets are limited, requiring strategic utilization to ensure that the University's long-term academic vision is preserved and enhanced. Most recently, the University has developed its "Four Corners" policy framework that sets forth the ambitious double bottom line goal of activating its real estate assets to address critical needs for on-campus housing, office/innovation space, retail, and other amenities, while also generating a sustainable source of revenue for the University. The University of Toronto's Real Estate division is responsible for executing such policy framework, including evaluating the strategic development of properties on its own in addition to partnership opportunities presented to the University by outside developers and landowners.
The Development & Investments Associate is a role within the University that is integral to realizing the Four Corners strategy. Reporting to the Director, Asset Management and Development Manager, the Associate will prepare sophisticated financial models and underwrite all real estate transaction activities on behalf of the University, including acquisition, development, (re)financing, and disposition of mixed-use projects involving office, retail, multifamily, student housing, and/or industrial space. The Associate will participate in meetings with prospective investors and joint-venture business partners, as well as prepare presentation materials for the University's Governing Council, various boards/subcommittees, and the Real Estate Advisory Committee, which is comprised of high-profile real estate industry leaders in Toronto. The incumbent is responsible for the initiation, research, prioritization, and determination of appropriate courses of action, referral, or response on matters identified by the Director of Asset Management and the Development Manager and the committees. The incumbent will maintain in-depth knowledge and expertise on real estate trends, policies, issues, metrics, and industry standards.
The Real Estate team is lean but ambitious, requiring the Associate to perform complex financial analysis with minimal supervision and manage multiple projects simultaneously. The incumbent must also possess strong communication skills to contribute and effectively participate in key decision-making by senior management.
Qualifications:Education Bachelor's degree in business administration, accounting, finance, and/or real estate economics or a related field or equivalent combination of education and experienceMaster's degree an assetExperience Minimum five (5) years' experience independently underwriting real estate transactionsMinimum of one (1) year experience working within an institutional environmentExperience with creating and analyzing financial models and schedules including but not limited to: calculation of net operating income (NOI), amortization, capitalization rates, bank loan financing, acquisitions of new properties and refinance of existing propertiesExperience with tracking market data (e.g., development pipeline, competing projects)Experience in financial forecastingExperience in report writing including the ability to research, analyze quantitative and qualitative dataSkills Advanced skills in Microsoft Excel for financial analysisIntermediate skills with Argus Enterprise or Argus DeveloperAdvanced skills in MS Office: Word, Excel, PowerPoint, and OutlookStrong financial analysis skills in working with detailed financial modelsStrong communication and interpersonal skillsStrong organizational and time management skills to prioritize and multitask projects with competing deadlinesStrong report writing and presentation skillsClosing Date: 09/11/2024, 11:59 PM ET
Employee Group: Salaried
Appointment Type: Ancillary Operations
Schedule: Full-Time
Pay Scale Group & Hiring Zone: PM 3 -- Hiring Zone: $91,937 - $107,259 -- Broadband Salary Range: $91,937 - $153,227
Job Category: Facilities/Ancillary Services
All qualified candidates are encouraged to apply; however, Canadians and permanent residents will be given priority.
Diversity StatementThe University of Toronto embraces diversity and is building a culture of belonging that increases our capacity to effectively address and serve the interests of our global community. We strongly encourage applications from Indigenous Peoples, Black and racialized persons, women, persons with disabilities, and people of diverse sexual and gender identities. We value applicants who have demonstrated a commitment to equity, diversity, and inclusion and recognize that diverse perspectives, experiences, and expertise are essential to strengthening our academic mission.
Accessibility StatementThe University strives to be an equitable and inclusive community and proactively seeks to increase diversity among its community members. Our values regarding equity and diversity are linked with our unwavering commitment to excellence in the pursuit of our academic mission. The University is committed to the principles of the Accessibility for Ontarians with Disabilities Act (AODA). As such, we strive to make our recruitment, assessment, and selection processes as accessible as possible and provide accommodations as required for applicants with disabilities. If you require any accommodations at any point during the application and hiring process, please contact ******.
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