Director, Real Estate
Role Overview
In the heart of the nation’s capital with additional programs in Virginia, the George Washington University (GW) was created by an Act of Congress in 1821. Today, GW is the largest institution of higher education in the District of Columbia. The University offers comprehensive programs of undergraduate and graduate liberal arts study, as well as degree programs in medicine, public health, law, engineering, education, business and international affairs. Each year, GW enrolls a diverse population of undergraduate, graduate and professional students. As one of the largest private employers in the District of Columbia, the University seeks employees who support the teaching, research, and public service mission of the University. The Office of Real Estate is responsible for the oversight of all real estate for the University, including a $1.2B investment portfolio representing five ground leases, a luxury multi-family residential property with 50,000 SF of retail, and over 1 million SF of office and medical office space, as well as leased office space in third-party buildings. The Office of Real Estate is responsible for executing real estate strategy in support of the university’s broader academic mission and goals including acquisitions, dispositions and strategic real estate partnerships. Reporting to the Associate Vice President for Real Estate, the Director, Real Estate oversees the asset management for both Investment and Institutional real estate for the University. Additionally, this position plays a vital role in supporting GW’s commitment to excellence by promoting and shaping a culture of integrity with the highest standards. The Director’s areas of responsibility will include:
Asset Management of the properties within the real estate investment portfolio and other owned institutional assets.
Provides technical and financial expertise to evaluate and negotiate complex transactions and works with staff within Office of General Counsel, Risk Management, Facilities, Treasury and other stakeholders as needed on University acquisitions, leases, licenses, and sales of property.
Responsible for execution of the University’s acquisitions, dispositions, and commercial leasing for real estate property assets.
Provides pre-transaction analysis (e.g. pro-forma modeling, zoning & campus plan analysis, feasibility and sensitivity etc.).
Solicits and engages professional contractors, as needed, to assist the University in its efforts to acquire/dispose of real estate (e.g., appraisers, attorneys, title companies, real estate brokers/agendas).
Manages due diligence process.
Asset Management of owned assets with overarching goal of improving financial returns, mitigating risk, and ensuring first class operating standards as well as developing and managing short and long-term capital requirements.
Oversight of third-party property managers.
Ensures accurate financial modeling, budgeting and forecasting, financial and property management reporting and performance analysis.
Ensures compliance with existing federal, district and university financial policies and procedures.
Administers ground leases and ensuring compliance with lease terms and conditions.
Oversees annual property valuation efforts.
Creates and reviews complex financial models to forecast leveraged cash flows, development economics and investment performance.
Develops reports and presentations for University leadership, committees, and task forces on strategic real estate transactions.
Prepares materials and provides support for Board of Trustees presentations.
Identifies, evaluates, and mitigates risk factors, and develops negotiation strategies for potential and existing real estate investments.
Makes recommendations to improve real estate investment performance.
Performs other work related duties as assigned. The omission of specific duties does not preclude the supervisor from assigning duties that are logically related to the position.
Full Job Posting
Job Description Summary
In the heart of the nation’s capital with additional programs in Virginia, the George Washington University (GW) was created by an Act of Congress in 1821. Today, GW is the largest institution of higher education in the District of Columbia. The University offers comprehensive programs of undergraduate and graduate liberal arts study, as well as degree programs in medicine, public health, law, engineering, education, business and international affairs. Each year, GW enrolls a diverse population of undergraduate, graduate and professional students. As one of the largest private employers in the District of Columbia, the University seeks employees who support the teaching, research, and public service mission of the University. The Office of Real Estate is responsible for the oversight of all real estate for the University, including a $1.2B investment portfolio representing five ground leases, a luxury multi-family residential property with 50,000 SF of retail, and over 1 million SF of office and medical office space, as well as leased office space in third-party buildings. The Office of Real Estate is responsible for executing real estate strategy in support of the university’s broader academic mission and goals including acquisitions, dispositions and strategic real estate partnerships. Reporting to the Associate Vice President for Real Estate, the Director, Real Estate oversees the asset management for both Investment and Institutional real estate for the University. Additionally, this position plays a vital role in supporting GW’s commitment to excellence by promoting and shaping a culture of integrity with the highest standards. The Director’s areas of responsibility will include:
Asset Management of the properties within the real estate investment portfolio and other owned institutional assets.
Provides technical and financial expertise to evaluate and negotiate complex transactions and works with staff within Office of General Counsel, Risk Management, Facilities, Treasury and other stakeholders as needed on University acquisitions, leases, licenses, and sales of property.
Responsible for execution of the University’s acquisitions, dispositions, and commercial leasing for real estate property assets.
Provides pre-transaction analysis (e.g. pro-forma modeling, zoning & campus plan analysis, feasibility and sensitivity etc.).
Solicits and engages professional contractors, as needed, to assist the University in its efforts to acquire/dispose of real estate (e.g., appraisers, attorneys, title companies, real estate brokers/agendas).
Manages due diligence process.
Asset Management of owned assets with overarching goal of improving financial returns, mitigating risk, and ensuring first class operating standards as well as developing and managing short and long-term capital requirements.
Oversight of third-party property managers.
Ensures accurate financial modeling, budgeting and forecasting, financial and property management reporting and performance analysis.
Ensures compliance with existing federal, district and university financial policies and procedures.
Administers ground leases and ensuring compliance with lease terms and conditions.
Oversees annual property valuation efforts.
Creates and reviews complex financial models to forecast leveraged cash flows, development economics and investment performance.
Develops reports and presentations for University leadership, committees, and task forces on strategic real estate transactions.
Prepares materials and provides support for Board of Trustees presentations.
Identifies, evaluates, and mitigates risk factors, and develops negotiation strategies for potential and existing real estate investments.
Makes recommendations to improve real estate investment performance.
Performs other work related duties as assigned. The omission of specific duties does not preclude the supervisor from assigning duties that are logically related to the position.
Minimum Qualifications
- Qualified candidates will hold a Bachelor’s degree in an appropriate area of specialization plus 7 years of relevant professional experience, or, a Master’s degree or higher in a relevant area of study plus 5 years of relevant professional experience. Degree must be conferred by the start date of the position. Degree requirements may be substituted with an equivalent combination of education, training and experience.
Preferred Qualifications
- Experience : Commercial real estate experience, including management experience. Candidates with experience in higher education real estate and familiarity with large residential urban campuses are preferred, as is a collaborative and consultative style appropriate for working effectively through a complex organization. Education : Undergraduate degree in real estate, accounting, finance or related field. Master’s degree is preferred. Qualifications : The ideal candidate is a proven leader with a demonstrated track record of integrity and success in prior roles with the ability to apply sound judgement. Other desired qualifications include:
- Experience in real estate portfolio and asset management.
- Advanced analytical skills and experience in real estate financial modeling.
- Communication and interpersonal skills with the ability to work collegially with all levels of the organization toward common objectives.
- PERSONAL CHARACTERISTICS This position seeks an individual with the following characteristics:
- Commitment to GW’s values.
- Intellectual, professional and a person of integrity.
- Honest, with the highest ethical standards.
- Passionate, collaborative, strategic, and smart with a hands-on, roll-up-the-sleeves orientation
- Ability to work independently. Self-starter; hard worker. Takes initiative; very high energy.
- Personally accountable. Assumes ownership, control and accountability for all areas of responsibility and commitments made to others.
- Sincere, open, and direct communicator. Puts organizational interests above self- interests and is comfortable expressing candid opinions.
- Highest levels of responsiveness.
- Combination of strong intellect that is combined with a practical and realistic common sense understanding of how to get things done.
- Ability to demonstrate initiative, a strong desire to succeed and exert the extraordinary effort often required.
- Ability to work in a fast-paced, high growth, entrepreneurial environment.
- Ability to work with faculty and staff in a respectful way.
- Establish trust and credibility with institutional leadership and across the University.
- Seeks “win-win” solutions to help foster continued integration and collaboration.
- Flexible and receptive to change.
- A positive “can-do” attitude.
- ADDITIONAL KNOWLEDGE , SKILLS , AND ATTITUDE
- Sensitivity for and understanding of academic disciplines and issues
- Ability to work with faculty, staff, and professionals in multiple settings and locations and to promote diversity in the workplace
- Appreciation for the data that will be required to make meaningful management decisions
- Comfort with loose, matrix organizational structures
- Recognition that being effective and results oriented is paramount
GW Staff Approach to Pay
How is pay for new employees determined at GW?
Special Instructions to Applicants
Employer will not sponsor for employment Visa status
EEO Statement
The university is an Equal Employment Opportunity employer that does not unlawfully discriminate in any of its programs or activities on the basis of race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity or expression, or on any other basis prohibited by applicable law.
About George Washington University
Provides higher education and conducts research.
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