Director, Real Estate Development

3 weeks ago

Baltimore, United States Johns Hopkins University Full time

Job Req ID:

115181

Director, Real Estate Development

Johns Hopkins Real Estate has retained to assist in conducting this important search and to help identify outstanding candidates. All inquiries, applications, and nominations for this opportunity should be directed to the search firm as indicated below:

Matt Metro

Founder & Principal

Jen Rademacher

EVP & COO

We are seeking a who will be reporting to the Vice President / Chief Real Estate Officer (CREO) and collaborating extensively with other functional leaders within the organization, the development professional is responsible for off-campus third-party real estate development for the enterprise and collaborates closely with the CREO on all activities. These activities include sourcing mission related third-party development partners, acquisitions/dispositions, idea conception, JV entity inception and structuring including financing, feasibility study and analysis, due diligence oversight, entitlement/permitting procurement, and execution oversight. Projects may include ground-up new development, redevelopment, repositioning efforts, or acquisitions. This position is not directly responsible for on-campus capital projects but may collaborate on related real estate matters and enabling projects on a case-by-case basis.

Specific Duties & Responsibilities

Lead acquisitions and dispositions feasibility and underwriting in collaboration with other Real Estate team members and JH staff. Oversee new off-campus real estate development for the entities, from idea conceptualization through various diligence, analysis/financial planning, permitting, implementation and transition processes. Lead the internal and external project team members, from various functional disciplines including asset management, leasing, legal, finance/budgeting, planning/design, construction, and accounting throughout the scope of the projects. Negotiate joint venture and entity structures, loan documents where applicable, purchase and sale agreements, and all 3rd party professional consulting agreements with contractors, architects/engineers, planners, surveyors, etc., that are associated with the development projects. For many projects, a third-party development partner may have direct responsibility for these activities of the JV, in which case JH involvement will be general oversight and governance. Analyze and underwrite proposed projects in collaboration with other Real Estate team members, including Finance Manager. Ensure that excel based project pro-formas and schedules including, initial preparation/assumptions, updating, sensitivities analysis, and comparing/reporting variances, are executed properly, accurately, and diligently managed. Prepare, share, and interpret financial sensitivity analysis and cash flow projection summaries with relevant stakeholders. Collaborate with Finance Manager and accounting department to ensure project reports are properly prepared. Perform and oversee due diligence tasks which include zoning, title, environmental risk, and other potential risks to acquisition or development. Collaborate with legal counsel (may be in-house or third party) in reference to all transactional aspects, including research associated with zoning ordinances and entitlement processes within applicable jurisdictions. Oversee the preparation of requests for proposals (RFP), manage RFP process, analyze proposals, and make recommendations to CREO and senior leadership. Stay current on local real estate submarkets and industry trends. Track comparable transactions, regional trends, potential zoning changes, and overall general market conditions. Collaborate in real estate related aspects of local community engagement and development. Provide coaching and professional development and mentoring to assigned staff in the real estate office. This position will initially have one direct report but collaborate with all Real Estate team members.

Special Knowledge, Skills, & Abilities

Exceptional organizational/project/time management skills with the ability to lead multiple projects simultaneously at different development stages.
Very strong financial/analytical modeling skills. Highly proficient in Excel, as well as Project and PowerPoint and virtual team collaboration tools (MS Teams, ZOOM, etc). Proven ability to correlate financial modeling with project execution.
Knowledgeable in reading and assessing engineering and architectural plans and complex legal documents, with ability to provide appropriate situational feedback, including ability to assess and manage risk factors affecting projects and enterprise.
Proven record of positive local community engagement and interaction with governing jurisdictions, including project entitlements, rezoning, special exception approvals, etc.
Ability to work flexible or extended hours to accommodate increased workload/projects and to attend industry-related meetings or events in the evenings and on weekends as necessary. Occasional travel may be required.
Excellent communication skills both oral and written, externally and internally, and ability to provide concise communication to internal Johns Hopkins leadership and clients.
Well-spoken and professionally poised ability to interact with governmental officials and external parties. Composed demeanor, professional appearance, positive attitude and customer-oriented approach are essential attributes for this position.
Exercises good judgment and uses discretion.
Highly skilled in developing critical internal/external relationships and building consensus to facilitate and negotiate complex agreements and transactions. Comfortable working successfully in a high pressure, fast paced environment, very self-motivated and committed to the mission of Johns Hopkins.
Demonstrate a high degree of integrity and ethics with good judgement and decision-making ability, driven by a desire for excellence.
Physical requirements include the ability to navigate sites for potential acquisition/disposition and active construction project sites. Such sites may include but not be limited to developed or undeveloped land as well as buildings/structures that may be in disrepair. Ability to move around sites, and navigate tight spaces such as mechanical, electrical, and utility rooms. Work will also be performed in an office environment and requires the ability to operate standard office equipment.

Supervisory Responsibility

Supervision of the Development Associate.

Minimum Qualifications
Bachelors Degree. Ten years of acquisitions and development execution experience across a variety of real estate asset classes & projects.

Preferred Qualifications
MBA, Masters in Real Estate or related advanced degree, or the equivalent combination of education and experience is preferred. Proven experience having acted in the capacity of the development lead of complex and sophisticated real estate development projects. Prior, proven supervisory experience having overseen the work of others, including financial analysis, while pivoting to independently lead projects with limited supervision and/or resources at times.

Total Rewards
The referenced base salary range represents the low and high end of Johns Hopkins Universitys salary range for this position. Not all candidates will be eligible for the upper end of the salary range. Exact salary will ultimately depend on multiple factors, which may include the successful candidate's geographic location, skills, work experience, market conditions, education/training and other qualifications. Johns Hopkins offers a total rewards package that supports our employees' health, life, career and retirement. More information can be found here: .

Education and Experience Equivalency
Please refer to the job description above to see which forms of equivalency are permitted for this position. If permitted, equivalencies will follow these guidelines: JHU Equivalency Formula: 30 undergraduate degree credits (semester hours) or 18 graduate degree credits may substitute for one year of experience. Additional related experience may substitute for required education on the same basis. For jobs where equivalency is permitted, up to two years of non-related college course work may be applied towards the total minimum education/experience required for the respective job.

Applicants Completing Studies
Applicants who do not meet the posted requirements but are completing their final academic semester/quarter will be considered eligible for employment and may be asked to provide additional information confirming their academic completion date.

Background Checks
The successful candidate(s) for this position will be subject to a pre-employment background check. Johns Hopkins is committed to hiring individuals with a justice-involved background, consistent with applicable policies and current practice. A prior criminal history does not automatically preclude candidates from employment at Johns Hopkins University. In accordance with applicable law, the university will review, on an individual basis, the date of a candidate's conviction, the nature of the conviction and how the conviction relates to an essential job-related qualification or function.

Diversity and Inclusion
The Johns Hopkins University values diversity, equity and inclusion and advances these through our key strategic framework, the .

Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

EEO is the Law

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