Dominic Bonin
Ottawa,ON
Summary
Collaborative real estate professional and leader with 12 years in asset, property and portfolio management, leasing, acquisitions, and dispositions. Recently a Vice-President of Asset Management lead for a C$2B market cap, national industrial REIT. Previously led a team of asset, leasing and property management professionals on a national portfolio of Canadian real estate. Fostered an open, safe, and healthy work environment where diverse perspectives were both valued and encouraged. Established a strong track record of finding innovative and creative solutions to business challenges. Experience working with stakeholders from various backgrounds, including executive leaders, LP investors, brokers, owners and tenants. Positive, adaptable, and inclusive individual who practices leading by example with a strong focus on communication, integrity, honesty, and ethics. Fully bilingual in French and English.
Overview
10
10
years of professional experience
Work History
Vice President, Industrial Asset Management
Skyline Industrial REIT
01.2021 - 11.2023
- Lead the leasing program 9.2M SF Class A industrial portfolio across Canada
- Successfully increased rental rate by 32% on average over the last 2 years
- Direct responsibility for the lease-up of >1.5M SF in vacant space and renewal of >25M SF of existing tenancies in single and multi-tenant properties
- Developed and created a development partnership in Montreal worth in excess of $1B worth of acquisitions value over 2 fund and added 3.6M square feet of new Class-A Industrial Assets to the portfolio
- Co-led the 20-person asset management, property management and leasing functions for Skyline Industrial REIT which had a portfolio size of 9.2M SF
- Was a thought leader on the team and responsible for developing strategies and best practices
- Helped foster an open and collaborative culture on the business unit
- Lead the disposition program for non-core flex and industrial assets located in the GTA, Montreal, Ottawa and Southwestern Ontario
- Liaise with brokers to determine fair value for the properties, prepare a marketing program and effect the eventual asset sale for maximum proceeds
- Source and evaluate industrial investment opportunities across Canada by engaging with brokers on prospective off-market and publicly marketed opportunities
- Have been involved in over $1.5B+ of gross transaction value in over 30+ separate transactions and 9 development projects in 2022
- Responsible for constructing an intuitive model to evaluate the impact of incremental debt and equity financing on the REIT’s FFO and AFFO
- Present strategies to Skyline Industrial’s President to maximize accretion of both short and long-term capital deployment
- Reported both short and long-term business performance to key stakeholders including members of the Skyline Industrial Executive Management Committee and significant external investors via oral and written presentations
- Developed excellent vendor management skills and regularly worked with third party property commercial investment sales & leasing professionals, property appraisers, construction management consultants, lawyers and lenders
- Co-led the vetting and initial onboarding of a new leasing software VTS, which led to enhanced communication within the team on leasing as with external brokers and capital initiatives.
Director of Leasing, Industrial Asset Management
Skyline Industrial REIT
01.2017 - 12.2020
- Overlooked a commercial portfolio of over 6.5 million square feet in 105 properties across Canada and manage a leasing team of 6 managers
- Worked closely with property management, leasing teams/agents, project managers, to provide direction for and oversight of business plans, appraisals, budgets, forecasts, leases, renewals, analysis and approvals
- Determined annual (short term) and 3 to 5 year (longer term) forecast leasing strategy in order to achieve revenue, occupancy and tenant mix targets for the Commercial REIT portfolio on an overall, regional and property-by-property basis
- Either directly, or as supervisor through internal and external resources, negotiate all tenant renewals and new leasing on any vacant or expiring space
- Foster and maintain ongoing relationships with brokerage community in each market to ensure external awareness of Skyline portfolio and current opportunities as well as sustaining a current understanding of individual market conditions and data
- Assisted the Portfolio Management team in achieving NOI targets by making recommendations to enhance property values, increase property revenues, decrease property operating expenses and increase tenant retention
- Assisted the Acquisition team in providing pre-acquisition input and assistance in due diligence process by making recommendations on current market condition, leasing assumptions, operations in place and general reporting
- Reported on all Leasing activity on a monthly, quarterly and yearly basis to Senior Management, Principals, Board of Trustees, Lending institutions and others.
Leasing Manager, Ottawa & Montreal, Industrial & Office
Skyline Industrial REIT
08.2015 - 12.2016
- Overlooked a commercial portfolio of over 2.3M square feet in 22 properties in Ottawa, 14 properties in Montreal, with over 185 different tenants
- Managed annual budgeting process for the 2.3M SF portfolio and provided the Skyline REIT Senior Management Team with monthly and quarterly reporting updates on the status of the properties
- Coordinated various construction projects from tenant fit-ups, building improvement and larger building expansion
- Negotiated all tenant renewals and new leasing on any vacant space either direct or utilizing marketing proposals to the real estate brokerage community
- Forecasted and track market sales & leasing transactions.
Commercial Sales Representative
CBRE Canada
07.2013 - 08.2015
- Broker investment sales and leasing transactions for Office, Industrial, retail asset classes
- Conducted and assisted in over $20M worth of sales transaction and 200K sq
- Ft
- Of leasing activity during my tenure
- Appraise properties using local market price comparisons
- Research financial and analytical data for potential buyers, sellers and occupiers
- Provide in-depth knowledge on industrial properties & investment grade assets
- Consult national occupiers and stake holders on multi-market acquisitions & dispositions
- Facilitate and handle lease and sales transactions
- Negotiate settlement details
- Inspect properties and resolve possible re-development plans
- Forecast and track national and regional market sales trends.
Education
Bachelor of Commerce -
Telfer School of Management (University of Ottawa, ON)
01.2011
College Degree Business Marketing -
College La Cite (Ottawa, ON)
01.2008
Ontario Real Estate License -
Real Estate College (Toronto, ON)
01.2013
Quebec Real Estate Licence -
OCIAQ
01.2015
Outside Interests
Skiing, tennis, hiking, Royal Ottawa Mental Health Foundation, Let’s Bond, Devoted father of a newborn boy
Speaking Engagements
- 2022, Calgary Real Estate Forum Panelist – Industrial Panel
- 2018, Ottawa Real Estate Forum Panelist – Industrial Panel
- 2017, Ottawa Real Estate Forum Panelist – Industrial Panel
Languages
English
Native or Bilingual
French
Native or Bilingual
Timeline
Vice President, Industrial Asset Management
Skyline Industrial REIT
01.2021 - 11.2023
Director of Leasing, Industrial Asset Management
Skyline Industrial REIT
01.2017 - 12.2020
Leasing Manager, Ottawa & Montreal, Industrial & Office
Skyline Industrial REIT
08.2015 - 12.2016
Commercial Sales Representative
CBRE Canada
07.2013 - 08.2015
Bachelor of Commerce -
Telfer School of Management (University of Ottawa, ON)
College Degree Business Marketing -
College La Cite (Ottawa, ON)
Ontario Real Estate License -
Real Estate College (Toronto, ON)
Quebec Real Estate Licence -
OCIAQ