School/Unit: Finance and Administration
Department: FMD Administration
Purpose of Position:
The Assistant Vice President (AVP) for Capital Assets and Real Estate is responsible for developing the overall real estate strategy for Virginia Commonwealth University (VCU) and the VCU Health System as well as for the acquisition and disposition of buildings and lands for VCU under the guidance of the Vice President for Administration and of the University's Facilities Executive Sponsors. The AVP develops and manages partnerships and/or joint ventures between the University or its affiliated entities and outside developers in relation to academic, research, commercial, retail, residential or mixed-use real estate projects that support the University’s strategic goals. In consultation with University Counsel, the AVP leads the University’s team in the negotiation of the terms and conditions of a variety of real estate development projects. The AVP is also responsible for overseeing these projects through completion, performing financial analysis and financial due diligence on prospective projects, assisting with project planning and zoning approvals with local governmental entities, assuring that assigned projects satisfy the University’s financial and operational objectives, and coordinating project implementation with various University offices and community stakeholders. This position reports directly to the Vice President for Administration.
1)Conceptualize, create, and plan potential development or re-development of academic, healthcare, research, commercial, retail, residential, or mixed use projects involving current or potential University, Health System or affiliated entity owned properties. Serve as a resource for VCU Health System. (20%)
2)In consultation with University Counsel, negotiate and foster leases, partnerships and joint ventures with real estate developers to help facilitate real estate development projects that advance strategic University goals and initiatives. Build strong collaborative partnerships throughout the city, region and state. (20%)
3)Serve as asset manager and owner’s representative for selected University, Health System and/or related entity owned properties, which may include academic, healthcare, research, office, retail, hospitality, student housing or other strategic land holdings. Directly oversee asset management functions for each property and, manage relationships with the selected operating companies where applicable. On an annual basis, develop (or coordinate with operating company) each property's budget, capital expenditures, distributions and expansion/renovation plans. Manage and grow relationships with key University stakeholders, building occupants, community, lenders, etc. (20%)
4)Perform financial analysis of potential or planned real estate development projects to confirm that they are financially sound and address the University's, Health System's and/or affiliated entity's budgetary requirements. (10%)
5)Coordinate the acquisition of applicable planning and zoning approvals related to real estate development projects and operationalize and manage these projects through completion. (10%)
6)Ensure proper management of the VCU Real Estate Foundation and other entities that might be approved by the Board of Visitors to support University real estate development joint ventures and partnerships. (10%)
7)Provide oversight and supervision of subordinate real estate professionals. This includes establishing strategic performance goals and objectives, monitoring progress toward goal achievement, providing mentoring and counsel to subordinates, and managing individual and unit-level performance. (10%)
An advanced degree is strongly preferred. A Bachelor's degree in similar field required, with significant and long-standing experience in commercial or institutional real estate or a similar field.
Qualifications and Experience Requirements:
Ten years of increasingly responsible senior level experience in structuring the development of large, mixed-use real estate developments; negotiating and financing complex real estate transactions, including ground and space leases; or experience overseeing large commercial real estate operations.
Experience in project conceptualization and development, negotiation, working collaboratively with counsel, financial analysis of project cash flows, and local government planning and zoning issues is essential.
A key attribute is the ability to think strategically about the financial and legal risks of real estate transactions.
The AVP should possess a keen understanding of project guidelines and be able to anticipate and plan for challenges and opportunities. Experience in higher education, foundation, or other non-profit setting preferred.
Experience in an urban setting preferred.
The successful candidate must possess outstanding leadership capacity and demonstrated skill in team building, collaboration, communication, customer service, and project management.
The selected candidate must demonstrate a genuine interest in and appreciation for a diverse and inclusive workplace.
To be considered for this position please visit our web site and apply on line at the following link: www.vcujobs.comVirginia Commonwealth University is an equal opportunity/affirmative action institution providing access to education and employment without regard to age, race, color, national origin, gender, religion, sexual orientation, veteran's status, political affiliation or disability.