Job Details
Vice President, Asset Management and Fund Head

About This Position

Vice President, Asset Management and Fund Head

Overview of Forum

Founded in 1996, Forum is a purpose-driven Alternative Asset Manager, Investor and Developer across North America, with a focus on real estate and private equity. Forum works with its partners to achieve aggressive growth through innovation and consistent performance as a top-tier alternative asset investor. Forum oversees approximately C$1.6 billion enterprise value in assets under management and has transacted over $3B of investments since inception.

We pursue value-added and opportunistic investments, often with an element of recurring or contracted revenue that facilitate optimal capital structuring. We see these opportunities in sectors including real estate, building services, alternative energy, infrastructure and specialty finance – and we’re constantly looking for new and interesting market niches in which to invest.

Forum is an entrepreneurial team working together towards a common goal of achieving Extraordinary OutcomesTM.  Our core strengths are our agility, creativity and social responsibility. We encourage our employees to grow by empowering them with challenging work and abundant opportunity. We have a culture that emphasizes collaboration, open communication, continuous learning, humility and integrity. We are committed to building a diverse and inclusive team that reflects the values of our firm – impact, integrity, diversity, innovation and high performance.

Forum’s real estate business is going through a transformational phase with a new Partner and team in place to take on a growing number of ground up development and adaptive reuse projects across Canada, with a target of $300-$400M in annual pipeline.

The firm is raising its first real estate fund focused on core-plus stabilized assets in the multi-family sector.  Forum’s Fund Gross Asset Value is expected to be over $2Bby year 5.   The fund will hold Forum’s pipeline of development assets once stabilized and will also acquire existing multi-family assets throughout Canada, with a focus on impact and ESG.

 

Position Overview

Forum is seeking a Vice President, Asset Management and Fund Head (“VP Asset Management”) to play a key role within Forum’s growing real estate platform. The VP Asset Management will grow/lead Forum’s first real estate fund and be directly responsible for the portfolio and asset management of its real estate. The VP Asset Management will report to the Partner, Real Estate and will have an existing director-level direct report to start.

The successful candidate will have a demonstratable track record of hands-on strategic asset management and portfolio management of multi-family project across Canada and must be a driven professional that is eager to take on the challenge of playing a key role in building a business.

The Candidate’s scope of responsibilities will be multi-faceted:

  • Oversee a growing portfolio of residential assets (including traditional multi-family, purpose-built student housing and co-living) from a strategic investment perspective, ensuring the goals and objectives of each asset as well as the portfolio are established and carried out through the effective management and operation of each property
  • Play an investor relations role, attending conferences/events/quarterly meetings and together with Forum’s partners as well as the VP Business Development manage relationships with existing as well as prospective investors of the Fund
  • Work with Forum’s real estate acquisitions and development teams to provide long-term ownership insights into the prospective investment targets and development projects

How to Apply

Should your skills and experience match the requirements of this position, and you wish to engage in our recruiting process, please forward your resume and cover letter to recruiting@forumequitypartners.com 

We regret that only qualified candidates will be contacted.

Key Duties and Responsibilities

  • Lead a growing team of asset managers responsible for the oversight of Forum’s stabilized real estate assets
  • Provide strategic oversight of a growing multi-residential portfolio located across Canada
  • Support the expansion of the company’s network of investor relationships, directly as well as by enabling the firm leadership, to bring a constant focus on deepening existing investor relationships as well as identifying and cultivating prospective new investor relationships
  • Work with the Forum’s leadership team to Identify, initiate, and then manage new and existing institutional and private partnership relationships and continuously engage with those relationships to communicate the investment strategies and performance of the company’s real estate capabilities
  • Effectively communicate with key stakeholders at least quarterly on portfolio performance, asset plans, leasing activity, budget variances
  • Work collaboratively with Forum’s internal team to identify opportunities to implement impact driven capital and management strategies throughout the portfolio
  • Evaluate market conditions for each property and real estate investment climate that will affect business plan strategies. Communicate competitive environment and market expectations to Executive Leadership team and key stakeholders
  • Develop, implement, publish, and manage standardized reporting on critical KPI’s, project schedules, budget tracking, and dashboards
  • Lead the creation and publishing of routine portfolio-level reports to the key stakeholder and reports that effectively communicate progress, risk, and achievements across the overall portfolio of work
  • Develop and implement strategies based upon macro-economic factors, asset class fundamentals and risk analysis, such that the performance of the private equity real estate portfolio exceeds its benchmarks on a long-term basis
  • Partner with Executive Leadership team to ensures the business achieves the desired outcomes, and managing change effectively, by understanding the value of the projects and ensuring the appropriate level of transparency
  • Retain oversight of the preparation of annual budgets, the assembly of high-level leasing and re-positioning strategies, and presenting information to senior leadership
  • Work collaboratively with external Property Management service providers to ensure key performance metrics are being achieved, to promote effective revenue enhancement and proactive asset preservation
  • Assist with reviewing underwriting for investment opportunities (acquisitions and dispositions) for multi-family assets and providing insight to Investments Committee
  • Manage and mentor team members for analysis, underwriting and reporting
  • Maintain strong company and sector expertise. Stay current on all company business activities, including financial and other material to be responsive to investors and media, and to communicate effectively with management
  • Review market, investment, capital factors for each asset type including opportunities for advantageous debt structuring refinancing and disposition opportunities
  • Assist with due diligence process on acquisition projects and with the transition of newly acquired properties into the portfolio management platform
  • Establish and maintain strong, positive working relationships with internal departments and third-party partners (property management, owner partners, lenders, investors, and the brokerage community)
  • Maintain awareness of local markets and competitive property set. Engage with real estate peers outside of the company
  • Lead analysis of cost saving opportunities and income generating ideas with the goal of increasing property NOI
  • Evaluate potential development transactions in terms of overall revenue strength as well as portfolio suitability
  • Review quarterly appraisals for factual accuracy and consistency with other similar properties
  • Executing business plans, including through working directly with investment and development team members, property managers/and other third parties
  • Performing asset management/portfolio monitoring and reporting duties to facilitate decision-making

Candidate Profile

  • Minimum of 10 years of experience in real estate asset management and/or investments, with strong track record of hands-on management of multi-residential portfolios, preferably with institutional reporting exposure
  • University Degree in Real Estate, Business Commerce, Business Administration or a related field required
  • An MBA and/or CFA is preferred
  • Must have exposure to sustainable building program implementation and a passion for ESG/Impact Investing
  • Must have strong leadership, presentation, administrative, legal, analytical and report-writing skills
  • Distinguished track record of leading growth-oriented teams
  • Must have experience working with Argus and Yardi
  • Exposure to repositioning/redevelopment projects would be a strong asset
  • Superior communication skills, both written and verbal, with the ability to clearly articulate a strategic vision for the portfolio
  • Competent time management with the ability to co-ordinate multiple competing priorities, with a successful track record in working with stakeholders of multiple disciplines
  • Established network external relationships in real estate sector
  • Excels in a high volume, dynamic and fast paced environment and enjoys new challenges
  • Highly collaborative and self-motivated
  • Skilled in the use of Word, Outlook, and Excel

When to Start

Start: Immediately