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Senior Director, Real Estate
The Operations Division of Tufts University is seeking an entrepreneurial individual to spearhead the planning and implementation of future development sites. In this leadership role, you will conceptualize development at locations in Boston, Medford, Somerville, and Grafton, incorporate financial analysis and an understanding of the market possibilities. As the Senior Director of Real Estate, your work will inform Tufts academic and research enterprises on how real estate can enable our strategic objectives. The Senior Director will lead the effort on any projects that proceed to development. We expect you to be an exceptional communicator and relationship builder while collaborating with senior leaders across the University and community. If you are an initiative-taker and looking for a strategic role as a critical partner to support our schools and University’s academic and research growth, we encourage you to apply today!
What You'll Do
Leading and executing all real estate matters and activities of the University, including: the purchase or sale of property; leases as landlord or as tenant; gifts of real estate; monetization/development feasibility of University real estate assets; advising University leadership on real estate matters; coordination of real estate assets and decision making with Finance, Campus Planning, Capital Projects, and Government & Community Relations.
Manage Walnut Hill Properties, a property management company that is a subsidiary of the University that owns, maintains, improves, and leases approximately 100 units in 60 properties to residential and commercial university-affiliated tenants, primarily faculty, staff and graduate students. Includes business management, tenant relations, vendor relations, community relations, budgeting, capital planning, strategic planning, and staffing.
TUFTS REAL ESTATE
- Lead real estate related direction-setting and decision making with university leadership, schools, and divisions
- Facilitate ongoing communication regarding real estate matters with Trustees, leadership, schools and divisions including board memos, presentations, financial projections, and other materials. Run regular Strategic Real Estate Working Group meetings
- In a complex decision-making environment, facilitate strategic decision making in collaboration with Campus Planning and execute property acquisitions and dispositions
- Manage internal and external studies and analyses related to real estate opportunities and transactions, including revenue and monetization opportunities, the potential sale or repositioning of assets, leasing, development, and 3rd party partnerships
- Manage and negotiate all leases as tenant; Seek and secure tenants, negotiate all leases/license agreements and manage occupancy as landlord of university property occupied by others. Manage landlord/tenant relationships
- Manage property tax and PILOT obligations with Government & Community Relations
- Coordinate valuation, acquisition, and disposition of gifts of real estate.
- Lead development or redevelopment projects, such as housing, repurposing assets or other complex projects requiring business acumen and community relations sophistication
- Coordination with University Finance division regarding real estate financial projections and impacts as well as integration of real estate-related data into budgets and projections
- Coordinate space opportunities provided by and issues around real estate assets in campus planning and capital projects
- Working with Tufts School of Medicine, lead efforts for finding, securing, and delivering academic and teaching space nationwide for Tufts’ nascent Physical Therapy program
WALNUT HILL PROPERTIES
- Manages and runs small property management company overseeing approximately 100 units leased to university-affiliated tenants; primarily faculty, staff and graduate students. Responsibilities include annual budgeting, capital planning, vendor and contract management, tenant management, coordination of assets with Tufts schools and divisions, reporting, and staffing
- Facilitates Walnut Hill board meetings
- Periodic assess and refine Walnut Hill’s mission, strategy and structure to ensure alignment with University objectives and priorities
- 3 FTEs at Walnut Hill Properties: Property Manager, Accounts Manager, and Maintenance Manager
- Additional FTEs if/when new positions are created
What We're Looking For
- Bachelor’s degree in real estate, business, finance, urban planning, or related field and 7+ years in commercial or institutional real estate
- Real estate and development experience
- Real estate financial analysis and reporting
- Analytical and problem-solving skills
- Skilled communicator and presenter, facilitator
- Demonstrated experience in collaboration and leadership
- Master’s degree in real estate, business, finance, urban planning, or related field.
- 10+ years in commercial or institutional real estate
- Property management experience
- Strong real estate, development, legal experience in an institutional setting
Minimum $181,300.00, Midpoint $226,650.00, Maximum $272,000.00
Salary is based on related experience, expertise, and internal equity; generally, new hires can expect pay between the minimum and midpoint of the range.
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