Job detail for Director, Real Estate

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.