Sonder is transforming the future of hospitality. Each Sonder is purposefully selected, designed & maintained - customized to reflect the vibe of its neighborhood & built for travel & life. Whether your stay is two days, two months or two years, in a hotel suite or a six-bedroom unit, Sonder ensures a unique, yet consistent experience. And with 24/7 on-demand service & game-changing technology, were providing amazing hospitality to guests in dozens of cities around the world.
Sonder started sevenyears ago & now has thousands of spaces in cities across the globe. Toronto poses unique challenges & opportunities for Sonder; the alternative accommodation space is the fastest growing segment in hospitality, but low real estate vacancies, rising costs of construction, & lack of affordable housing coupled with strict rental regulations make Toronto a challenging market. Are you the right candidate to take on the challenge of continuing to grow the market in Toronto?
As a Director of Real Estate, you will be the real estate lead for your city. You will drive supply growth by working with your local Real Estate team to identify top-of-the-funnel lease opportunities for Sonder, negotiate leases, manage deal closings, & asset manage the properties in Sonders portfolio. Your primary role is to sell Sonder to hotel & multifamily owners & developers to sign as many units as possible in Toronto.
At Sonder, You Will:
- Sell Sonder to hotel & multifamily owners & developers to sign as many units as possible in Toronto.
- Be assigned to large, complex, high visibility, strategic, or tactically important accounts.
- Be in a leadership role, being the lead of the real estate team in your market.
- Work closely with the General Manager to develop & implement a growth acquisition plan.
- Propel our growth even further by adding thousands of units to our portfolio.
- Prospect, qualify, underwrite, pitch, & close new real estate opportunities.
- Build relationships with many of the largest developers & owners in Toronto.
- Negotiate & structure deals by leveraging other headquarter resources including teams dedicated to market analysis, underwriting & public policy stakeholders.
- Use local real estate knowledge & a network of contacts in Toronto to source developers & real estate owners with suitable development opportunities where the Sonder business model can operate & create value. Manage relationships with owners & developers including deal structuring, ongoing correspondence, & lease compliance.
- Develop & maintain a network of local agents & broker partners to drive the supply pipeline.
- Craft, negotiate, & support leases favorable to Sonder & its guests, with a focus on commercial terms, as well as property upkeep, maintenance, cleanliness, & landlord responsiveness.
- Become fluent in local public policy & existing regulations & building codes.
- Become an expert at pipeline management while ensuring full compliance with Sonder business development procedures & driving improvements to the process when shortcomings are identified.
- Foster community relations & present the value & benefits of partnering with Sonder while enhancing public image.
- Develop new relationships & expand existing accounts.
What We Look For:
- Youre a commercial real estate expert, with additional specialized knowledge, as well as a record of success in real estate sales.
- Youre a proven leader who will lead the real estate team in your city.
- Minimum 8+ years experience in commercial real estate, including acquisition & development.
- Experience with a range of asset classes (Residential, Commercial, Retail, & Hospitality). You master all aspects of real estate development - equity structures, financing considerations, construction, lease-up & exit.
- You live, breathe, & sleep commercial real estate; you are ultra-passionate & knowledgeable about Torontos real estate market.
- Youre an accomplished salesperson & closer who is self-driven. Youve mastered the art of presenting a value proposition & handling objections while inspiring trust.
- Youve built a powerful real estate network. You can find your way to any developer in the city & can leverage your Rolodex.
- You are analytical, decisive, & have the entrepreneurial drive to craft & implement a strategic plan for property acquisition.
- You aspire to be a missionary & not a mercenary - you want to work for a fast-growing start-up with a unicorn trajectory. You see the big picture & make decisions based on the long term value vs. short term profit.
- Youre an outstanding communicator with the ability to communicate complex deals in simple terms.
- You have the ability to analyze real estate from a strategic point of view.
- MBA preferred.
We also have great benefits to make your life easier so you can focus on what you're best at:
- Competitive salary
- Generous stock option plan
- Medical, dental & vision insurance
- Daily catered lunches
- All the coffee you can imagine
- Snack-filled kitchen
- A company with a huge vision, a dynamic work environment, & a team of smart, ambitious & fun to work-with colleagues!
We are an equal opportunity employer & value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.