Assoc VP of Real Estate, Portfolio Mgmt. & Planning
Rochester, NY
GENERAL PURPOSE:
The University of Rochester, a member of the Association of American Universities, seeks an experienced real estate leader to serve as its Associate Vice President for Real Estate, Portfolio Management & Planning (AVP). Real estate strategy has always played a vital role in this global research university and medical center, but it’s particularly important now as we launch a new strategic plan that will define our collective direction and vision for the next seven years and beyond. Reporting to the Executive Vice President for Administration and Finance, CFO and Treasurer (EVP), the AVP is responsible for the leading the stewardship of the University’s real estate assets and aligning future opportunities with the University’s long term, institution-wide strategic obectives. This includes leading the acquisition, sale, leasing, and planning of real estate opportunities and managing real estate and space planning operations for the entire University portfolio, and property management oversight for University owned and managed properties that are rented or leased to others.
We are looking for a collaborative leader with strong communications skills who is comfortable working across multiple divisions to serve the University’s academic, clinical and research missions. The University has a portfolio of 12 million square feet of leased and owned property across multiple mixed-use campuses, 700 acres of land and over 2m sq feet of ambulatory and off site facilities. The AVP will also serve as the expert in real estate transactions, valuation, opportunity structuring and negotiation, development and dispositions, lease administration, third party development, and outsourcing strategies for owned, revenue generating assets.
Working closely with the EVP, the AVP will assure that real estate strategy and capital investments align with the University’s strategic plan, institutional master plan, and long-term sustainable infrastructure needs, and will regularly deliver presentations to the Board of Trustees’ Facilities and Campus Planning committee as well as the Medical Center Board’s Facilities Committee.
For this position, the University is seeking a leader with at least 15 years of increasing responsibility in real estate and property management , including leadership, strategic vision, real estate development, problem solving, team building, client relationships and staff management skills. A proven track record of senior leadership (minimum 10 years) in a complex environment is required. Experience in a higher education and/or academic medical environment is preferred.
Helbling & Associates, a national executive recruiting firm, has been retained to support the search committee. Confidential inquiries, nominations, and applications should be directed here .
Founded in 1850, the University of Rochester is one of the nation’s leading research universities and is the cultural, artistic, and educational leader for the region. The University’s motto, Meliora, embodies the goals of the University, which are to “learn, discover, heal, create – and make the world ever better.” It is noted among top research universities as being exceptionally collaborative, offering both the intellectual excitement of a major research university with a top medical center and the intimacy and opportunities of a great liberal arts college. In 2022, US News ranked Rochester 36th among Best National Universities and 25th for Best Value.
JOB DUTIES AND RESPONSIBILITIES:
Strategic Oversight
Working closely with the EVP, and other university leadership, including the president and provost, develops a real estate strategy that aligns with the institutional master planning process, and University’s Strategic Plan.
Responsible for University-wide policies that guide real estate and space need decisions of the entire University community.
Analyzes real estate market data and develops trend analysis to project facility needs over time, and presents trend implications to the executive team.
Provides strategic vision, leadership, coordination, and administrative oversight to the department of Real Estate. Administers the budgets for these areas and establishes and implements short- and long-range goals, objectives, and strategic plans.
Analyzes, evaluates, and develops real estate venture strategies using appropriate market assessment and financial techniques and forecasting resources and tools. Leads and oversees implementation of these strategies.
Acquires and / or provids support for special real estate projects, including due diligence, ranging from market value assessment to marketing strategy development, and pricing strategies for diverse projects such as analyzing lease vs. buy decisions and structuring offers.
Using knowledge of industry and market trends to develop and champion long-term strategies.
Real Estate Management
Develops a process for making informed decisions regarding the allocation of space to meet program needs and to ensure the valuable and limited resource of space is efficiently utilized to achieve the university strategic plan goals.
Oversees fiscal and operational aspects of real estate, portfolio and space management business in a single unified structure.
Administers leases and real estate purchases and sales. Manages external real estate consultants including property managers, accountants, and brokers.
Negotiates and supervises the administration of contracts such as service contracts, contracts for leases and sales, and purchases of real estate as well as disposition of assets.
Markets properties held for re-sale, manages and / or disposes of properties, identifies strategic properties for purchas, and manages all leases.
Develops and maximizes the value of all owned and operated real estate.
Develops and monitors plans for all buildings and oversees development regulations affecting future campus development such as zoning, land use, etc., including special studies and reports in support of development.
Reviews regulatory issues that affect development; recommends and coordinates initiatives to maximize development potential of properties and leaseholds.
Supervises real estate record keeping and reporting to senior leadership regularly.
Ensures building compliance with all Authorities Having Jurisdiction (AHJ’s) including The Joint Commission, OSHA, fire codes, city ordinances, etc. with regard to real estate planning.
Manages and applies for annual propety tax exemptions for owned real estate assets that generate revenue.
Operational Improvement
Develops, implements, streamlines, and improves processes underlying transaction execution.
Incorporating best practices on a continuos basis, updates benchmarking to improve operations of the team and shares insights with the rest of the executive team.
Develops systems to continuously monitor the quality, safety, and appropriateness of service provided.
Coordinates review and audit of current space use to ensure efficiency.
Partners with key stakeholders to understand current needs and effectively forecast for future needs.
Effectively presents complex topics in a concise manner to audiences at various levels and in various sizes.
Achieves measureable improvements in quality, cost reduction, and client satisfaction.
Audits and reconciles of real estate and space functions for properties leased by the University, such as common area maintenance (CAM) charges.
Talent Development
Selects, develops, mentors, and reviews the performance of direct reports.
Servies as a role model in all apects of job performance and human relations skills.
Promotes staff development through performance evaluation, coaching, identifying development goals, and arranging educational opportunities that enhance and encourage continued professional growth among staff.
Other duties as assigned.
QUALIFICATIONS:
Bachelor’s degree required
Advanced degree in relevant field preferred
Minimum of 15 years of experience in real estate, planning, portfolio management and/or property management including leadership, strategic vision, problem solving, team building, client relationships, and staff management skills required
A proven track record of senior leadership (minimum 10 years) in a complex environment required
Experience in a higher education or academic medical environment preferred
Required:
Outstanding leadership skills with proven ability to motivate and collaborate with staff, peers, and stakeholders.
Experience giving successful board-level presentations.
Demonstrated expertise and proven success in the areas of real estate, acquisitions, dispositions, development, re-development, best use analysis, and adaptive re-use.
Strong business, analytical, and decision-making skills.
Strong and effective verbal and written communication skills.
Ability to analyze, act, and articulate based upon data-driven decision-making.
Proven ability to operate under pressure with multiple concurrent projects and objectives underway.
Thorough knowledge of commercial lease and related document structures required. Must be well-versed in legal terminology with respect to leasing and possess a strong understanding of real estate and property management terms and concepts.
Ability to set strategic vision and execute plans on time and within budget, holding team members accountable for outcomes.
Demonstrated ability to exercise sound judgment in making critical decisions and escalating issues as appropriate.
Self-confidence with an ability to accept and respond to challenges in a positive manner.
Demonstrated ability to build positive, effective relationships, work from a position of influence, and develop effective cross-functional relationships with senior leaders, staff, faculty, and management teams to set and execute performance goals.
Highly flexible and able to adapt quickly to a changing environment.
Comfort working effectively within a dynamic, and occasionally ambiguous, environment.
Successful experience in achieving results through people in a complex environment.
Proven track record of strong lease negotiating skills required
The University of Rochester is committed to fostering, cultivating, and preserving a culture of equity, diversity, and inclusion to advance the University’s mission to Learn, Discover, Heal, Create – and Make the World Ever Better. In support of our values and those of our society, the University is committed to not discriminating on the basis of age, color, disability, ethnicity, gender identity or expression, genetic information, marital status, military/veteran status, national origin, race, religion/creed, sex, sexual orientation, citizenship status, or any other status protected by law. This commitment extends to the administration of our policies, admissions, employment, access, and recruitment of candidates from underrepresented populations, veterans, and persons with disabilities consistent with these values and government contractor Affirmative Action obligations.
How To Apply
All applicants must apply online.
EOE Minorities/Females/Protected Veterans/Disabled
Pay Range
Pay Range: $233,300 - $373,300 Annually
The referenced pay range represents the minimum and maximum compensation for this job. Individual annual salaries/hourly rates will be set within the job’s compensation range, and will be determined by considering factors including, but not limited to, market data, education, experience, qualifications, expertise of the individual, and internal equity considerations.
Location: Central Administration
Full/Part Time: Full-Time
Opening: Full Time 40 hours Grade 098 Ofc Exec VP Admin & Finance
Schedule: 8 AM-5 PM