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Director of Real Estate

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Hanover
 NH
Postal Code
03755
Country
United States

This job is no longer active.

Description


Position Purpose:

Oversees the Real Estate Office's management of various Dartmouth real estate investments, including but not limited to strategy for acquisition, disposition, and resolution of a wide range of complex real estate matters on behalf of the College. In addition, the position oversees all aspects of asset management, property management, leasing, and construction project management for Dartmouth's Real Estate portfolio. The Director will have responsibility for 13+ employees (including working in conjunction with a union workforce), a five-year capital budget of approximately $10 million and a portfolio consisting of approximately 600 residential units, 400,000 GSF of commercial space and 37,000 acres of land, together valued at $270 million.

The position participates in the analysis, acceptance and disposition of real estate gifts to the College; has responsibility over all Property Taxes and Payment in Lieu of Taxes programs on behalf of the College; and represents the Dartmouth College Real Estate Office to local, neighborhood, and College groups as required to successfully carry out the College's mission to educate the most promising students and prepare them for a lifetime of learning and of responsible leadership, through a faculty dedicated to teaching and the creation of knowledge. The Director is part of the Campus Services senior leadership team, works closely with the Division's Legal Counsel, and manages special projects.

Key Accountabilities:

Acquisition and disposition of real property assets, and resolution of wide range of complex real estate matters on behalf of the College (35%)

  • Manages and updates annually the Real Estate Strategic Plan for Endowment Owned Real Estate assets, for presentation, review and approval by the Investment and Finance Offices, EVP, and Trustees.
  • In conjunction with the Planning Office, leads Master Planning as it relates to the Endowment Owned Real Estate assets.
  • Implements the annual recommendations to the Strategic Plan, primarily involving dispositions to third parties (including outright sales and ground leases to third party developers) or disposition to plant. Performs various types of financial analysis to support such divestments.
  • Monitors, identifies and recommends opportunities to invest in properties and developments in the Hanover/Lebanon area. Performs various types of financial analysis in support of such investments.
  • Oversees and/or coordinates the creation, management, on­going evaluation and disposition of various Dartmouth owned rental housing programs for employees and graduate students.
  • Resolves complex real estate business, development and land use matters (land sales, land swaps, endowment restrictions, leases).
  • Oversees annual appraisal process for all Endowment Owned Real Estate properties, including review and problem-solving with the Investment and Finance Offices.
  • Oversees the College Value Assurance Program at Rennie Farm.
  • Oversees the identification and leasing of off-campus space to meet College operational needs; including negotiation of third-party leases on behalf of the College.

Asset Management (30%)

Develops Standards

  • Creates a set of College standards for managing commercial real estate that includes but is not limited to space planning guidelines, leasing, construction standards, and sustainability (both with the operation of buildings as well as with construction).
  • Further develops reporting tools that provide leadership with clear understanding of overall Endowment Owned Real Estate Portfolio performance.

Builds and Leads a Strong Team

  • Provides leadership for Real Estate Office employees in property management and leasing functions.
  • Is responsible for department goals and strategy, budget, staffing, performance measurement, and problem resolution.
  • Ensures that all employees participate in Dartmouth's annual performance management process and are effectively trained and developed to continue to meet the needs of their jobs and to grow as professionals.
  • Actively promotes a climate of creativity, cooperation, personal and team achievement, the valuing of differences, and high ethical standards.
  • Ensures that decisions and policies are effectively communicated and consistently placed into practice throughout the Department
  • Ensures teamwork and quality within the department, as well as between the department and Campus Services colleagues, and between the department and its customers.
  • Continuously improves organizational effectiveness to ensure the attainment of the highest levels of efficiency and customer satisfaction.

Budget and Compliance Leadership

  • Develops annual and five-year capital plans with the aim of ensuring the integrity of the Endowment Owned Real Estate Portfolio.
  • Oversees financial compliance with College standards.
  • Ensures that property operations are consistent with applicable codes, laws, and guidelines and that all properties are maintained in conditions of full compliance.
  • Oversees and is held accountable for all aspects of leasing for Dartmouth's Endowment Owned Real Estate properties, responding to College departments' space requests by maintaining portfolio space utilization data, providing occupancy proposals and, where appropriate, identifying space options outside Dartmouth's portfolio.

For Sale Housing Programs

  • Oversees for sale housing programs at the College, including creation, dissolution, analysis, problem solving, and communication.

Separate Real Estate Entities

  • In conjunction with Associate General Counsel, prepares third party entity governance documentation, annual meeting preparation, state corporate reporting and other issues related to Board and Shareholder action of the College's two wholly owned real estate entities.
  • Oversees management of the separate real estate entities.
  • Serves as officer of separate real estate entities established in support of such operations.

Real Estate Gifts and Property Sales (10%)

  • In collaboration with the Office of Gift Planning and Associate General Counsel for Campus Services, and consistent with the College Gift Policy, reviews the acceptance and disposition of various gift properties. Works with other College and office staff on the sale of complex real estate properties.

Property Taxes (15%)

  • Ensures the proper review, analysis, problem solving, and payment of over $8 million of property taxes College-wide.
  • Develops Property Tax database.

Managing Relationships (10%)

  • Is the primary contact with the College Investment Office on its locally owned real estate, including performance, capital renewal planning, appraisals, disposition, etc.
  • Represents the Dartmouth College Real Estate Office to local, neighborhood and College groups as required to successfully carry out Department responsibilities. Serves as Dartmouth's representative to various local real estate groups. Works with others on various community issues and on issues related to maintaining good Town/Gown relations with a specific focus on Real Estate matters. Participate in College initiatives and professional organizations. Reports, as needed, to the Trustee Investment, Finance, and/or Master Planning & Facilities Committees on issues related to Dartmouth's endowment owned local real estate.
  • Participates as a member of the Campus Services senior team, contributing to the development of organization-wide policies and strategic planning initiatives.

Takes on additional responsibilities and manages special projects as requested.

  • Demonstrates a commitment to diversity, inclusion, and cultural awareness through actions, interactions, and communications with others.
  • Performs other duties as assigned.

Required Qualifications

  • Bachelor's degree in Real Estate, Accounting, Finance, Business Administration or a related field required.
  • Seven years of progressively responsible experience with real estate services and physical asset development/disposition or an equivalent combination of education and experience.
  • Leadership experience with commercial and/or College real estate with extensive portfolio operations experience.
  • Experience in property management, asset management, construction, acquisitions, dispositions, leasing, and due diligence.
  • Demonstrated knowledge of real estate issues and their application in a complex organization.
  • Excellent negotiation and consensus-building skills.
  • Demonstrated ability to lead a group of diverse real estate professionals and support teams.
  • Must have strong financial budgeting and planning acumen.
  • Exceptional financial skills to manage specific analysis related to property acquisition and disposition, and projects.
  • Proven conceptual, analytical, and interpersonal skills to effectively implement policies and programs.
  • Excellent written and verbal communication skills.
  • Demonstrated judgment and discretion.

Preferred Qualifications

  • Masters of Business Administration (MBA) preferred.
  • An understanding of the mission, goals, and objectives of a major educational and research institution.
  • Demonstrated success in maintaining a long-term strategic focus while ensuring day-to-day operational excellence across an extensive array of services.
  • A high level of comfort with a fast-paced, intense and complex environment where priorities can and do change rapidly.

For additional information and to apply, please visit website

Special Instructions to Applicants:

Employment in this position is contingent upon consent to and successful completion of a pre-employment background check, which may include a criminal background check, reference checks, verification of work history, and verification of any required academic credentials, licenses, and/or certifications, with results acceptable to Dartmouth College. A criminal conviction will not automatically disqualify an applicant from employment. Background check information will be used in a confidential, non-discriminatory manner consistent with state and federal law.

Dartmouth College is an equal opportunity/affirmative action employer with a strong commitment to diversity and inclusion. We prohibit discrimination on the basis of race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, veteran status, marital status, or any other legally protected status. Applications by members of all underrepresented groups are encouraged.



PI106960830

Job Function


 

Job Sector


Not specified

 

Experience


7+ to 10 years


This job is no longer active.

Corporate Real Estate Hanover Full Time NH Academic Director of Real Estate other