Recipe Unlimited Corporation is Canada’s leading full service restaurant company. Home to such iconic brands as Swiss Chalet, Harvey’s, St.Hubert, Montana’s, Olive Garden Canada, Bier Markt, East Side Mario’s, The Landing Restaurant Group, New York Fries, The Pickle Barrel & Catering, State & Main, Elephant and Castle, Original Joe’s, Fresh Kitchen + Juice Bar, The Burger’s Priest, Blanco Cantina and Anejo. With this diverse portfolio of restaurants our Home Office Teammates have the opportunity to work on a wide variety of some of the most popular, well-loved brands in Canada. Variety isn’t the only thing we offer – we are passionate about our industry, we celebrate and support diversity of thought, we are innately curious and encourage our Teammates to take ownership. Above all else, we believe in doing the right thing for our people, our communities and our planet.
Reporting to VP of Real Estate, Head of Portfolio Management will oversee portfolio management activities for all RECIPE brands, including lease renewals, management of redundant leased locations, and disposition of RECIPE-owned real estate. This role will also oversee development, coordination and implementation of site specific portfolio management plans for restaurants across all RECIPE brands, taking into consideration all triggers of action including lease expiries, franchise agreement expiries, conversions and renovation obligations.
What you will do in this role:
Renovations Compliance and Extension of Leases for Renovations 15%
Monitor lease expiries, franchise agreement expiries, conversions and renovation obligations to ensure that all brand activities are coordinated in compliance with leases
Develop and coordinate ongoing use of appropriate tracking and reporting tools
Attend pipeline meetings, brand update meetings and monthly portfolio meetings to report on activities and facilitate decision-making for compliance
Lease Renewals 30%
For brand(s) assigned to Head of Portfolio Management:
Track upcoming lease expiry and notice dates (at least 4 years out)
Solicit input from Real Estate NRO Team, Franchising and the Brand(s) re plan to renew/relocate/close
Negotiate business terms of lease renewals
Keep franchisees informed and involved throughout the renewal process
For brand(s) assigned to Portfolio Manager:
Supervise and provide assistance/guidance to the Portfolio Manager
Monitor progress on a regular basis
Prepare and present lease renewal reports for REC approval
Management of Redundant Leased Locations 10%
For brand(s) assigned to Head of Portfolio Management:
Assist Brand in assessing closure
Manage landlord communication
Manage process of negotiating buy-out with landlord or sourcing and negotiating deal with subtenant
For brand(s) assigned to Portfolio Manager:
Supervise and provide assistance/guidance to the Portfolio Manager
Monitor progress on a regular basis
Disposition of Recipe-Owned Real Estate 10%
Assist the Vice President, Real Estate Portfolio Management, in the development of disposition plans for Recipe/Cara-owned real estate
Implement disposition plans by:
Sourcing purchasers from the real estate investment community
Negotiating purchase and sale agreements, lease-backs, and all related documents
Managing the transaction closing process
Property Management & License Renewals 10%
Manage the Portfolio Management Coordinator as it pertains to property management issues such as landlord/tenant disputes, non compliance of the landlord’s obligations and assist franchisees in getting issues resolved
Manage the Portfolio Management Analyst who processes all license applications and renewals for all restaurants as well as provide all sales reporting required under our leases for non percentage rent payments
Portfolio Management Database 10%
Lead the development and ongoing evolution of the Portfolio Management Database so as to address the ongoing and evolving needs of the Portfolio Management team
Implement appropriate controls to ensure the ongoing integrity of the Portfolio Management Database
Special Projects 5%
Assist the Vice President, Real Estate with special projects, as needed
Administration 10%
Develop standards, processes and controls for the work of a team of 3 associates
Provide coaching and guidance with problem-solving
Conduct performance appraisals
What we are looking for from you:
8 years experience in the industry, with some management or project management experience.
Bachelor’s Degree
Leading direct reports for improved performance
Excellent leadership skills
Solid understanding of Canadian commercial real estate market
Strong relationships with landlords
Excellent negotiation skills
Solid understanding of lease language and how it can impact the business terms of a deal
Excellent time management skills and ability to deal with multiple priorities
Proficiency in Microsoft Word, Excel and Access
Dealing with and coordinating the activities of multiple internal and external stakeholders
Leading negotiations with challenging landlords
Balancing RECIPE’s needs with the interests of franchisees
Managing high volume workload
Meeting deadlines for lease renewals
Interpreting lease language
What’s in it for you?
Flexible/Hybrid work environment
You’d be joining a close-knit, innovative team of creative and energetic go-getters
You’d be a part of Canada’s largest full-service restaurant company that leads the industry in size and innovation
20% associate discount dining card and monthly dining allowance valid at participating Recipe brands
A welcoming, fun and safe work environment founded on respect
Career advancement opportunities with a company that owns some of Canada’s most iconic restaurant brands
Industry-leading benefits, wellness programs, and total rewards programs
Recipe is committed to providing a diverse, equitable and inclusive workplace. Celebrating people, being passionate and curious, owning it, and doing the right thing are the values that guide how we build our teams, support our franchisees and create a company that unlocks the full potential of everyone.
Recipe is dedicated to providing accommodations in accordance with applicable human rights and accommodation legislation. For individuals that require accommodations please contact recruit@recipeunlimited.com
