Director, Real Estate Asset Management

Business Name: 
Stanford University
Industry: 
Real Estate
Type of Position: 
Full-Time Job
Grade Level: 
Graduate
Location: 
Palo Alto, CA
Days/Hours per Week: 
40 hours per week
Pay Range: 
Depending on Experience
Duration of Position: 

Full Time

Position Description: 

Stanford University is recruiting a Director, Real Estate Asset Management to join their team. Stanford University is one of the world’s premier academic and research institutions, devoting tremendous intellectual and physical resources toward the betterment of humanity. As a major Silicon Valley employer, Stanford seeks people committed to excellence and to improving our world. In turn, the university is committed to supporting its employees as they develop their careers and enrich their lives.

The role of the Stanford Real Estate is to invest and optimize the risk-adjusted value of Stanford University’s income-producing lands and deploy real estate expertise and solutions to meet existing and evolving University priorities. Stanford Real Estate is a department within Land, Buildings and Real Estate (LBRE), governed by the Stanford Management Company Board of Directors and Stanford Board of Trustees. Stanford Real Estate plays an important role in supporting the University’s teaching, learning, and research missions by providing financial support for Stanford University.

The Director, Asset Management is responsible for value-creation strategy and transactions for the prestigious and world-renowned Stanford Research Park. A preeminent real estate asset of Stanford University, the Stanford Research Park is comprised of 700 acres and 10.2 million square feet of improved R&D and office buildings. SRP’s current market value (year-end, Fiscal Year 2016) is $2.8B, with an underlying, unencumbered fee simple value on the order of $7B. The Director position focuses on maximizing the near-term and long-term value and performance of this significant and complex real estate portfolio in Palo Alto, California.

The position will require creativity and vision within a very dynamic environment. Evaluating the best direction for the SRP as a whole, and individual SRP properties, will require careful consideration of several, often competing, factors, such as the political environment for entitlements, the desire for growth, current and future market trends, financial and technical feasibility, what kind of role Stanford will have in the project, all the while preserving flexibility long-term for the potential academic expansion of the University.

The Director will report to the Managing Director, Asset Management, Stanford Research Park. The ideal candidate is a highly motivated and self-directed leader; is practiced at establishing and maintaining a variety of strategic and successful transactions of significant scale and complexity; is skilled at negotiations and directing financial analysis; and possesses a relevant understanding of real estate industry trends. This position offers a blend of autonomy and the chance to collaborate with a variety of stakeholders. The Director serves as a University representative and is expected to build strong relationships with various parties, including the business community, Stanford affiliates, City officials and community members.

Position Responsibilities: 

- Ongoing implementation of the Stanford Research Park strategic business plan, which would entail initiating recommendations and executing long-term strategic initiatives to create additional value and maximize risk-adjusted returns on the SRP portfolio of assets. Such analysis would involve evaluating the highest and best use of properties returning to the University at the expiration of ground leases, initiating recommendations and implementing strategies to promote reinvestment in building inventory either through acquisition or disposition of ground lease incentives or direct purchases and redevelopments of sites.
- Originating transactions, and structuring and negotiating complex agreements to either purchase or extend ground leaseholds, seize direct leasing opportunities or market new long-term ground leases.
- Securing opportunities to promote a diversified tenant mix by facilitating lease transactions with companies of varied industries across the entire life cycle spectrum, from start-ups to mature, creditworthy entities.
- Developing and leading the marketing strategy, due diligence and closing efforts associated with sales, purchases or leasing of assets and engaging consultants and advisors to assist with the effort as needed.
- Facilitating all requests by tenants and lessees for lease assignments, sublease approvals, lease extensions, and other contractual requests relating thereto, including analysis of any landlord-related rights and obligations.
- Ongoing implementation of long-term land use and programmatic planning for the Stanford Research Park, including conducting urban planning, architectural, economic, environmental, and/or other analyses designed to enhance the competitive advantage and income potential of the SRP portfolio or mitigate risk.
- Directing and coordinating a team of internal and external consultants with functional expertise, including legal, finance, lease administration, environmental, market research, leasing, architecture and development.
- Making strategic recommendations to the Managing Director and executing solutions for any ownership and management issues that arise in the Stanford Research Park, which often entails collaboration across cross-functional teams.
- Maintaining positive relations and regular communications with SRP tenants and lessees – our business partners – and seeking opportunities to align efforts and reinforce each other’s investment goals.
- Effectively working with various constituents to educate them about Stanford Research Park and seek areas of alignment, which entails the ability to develop relationships and rapport.

Required Qualifications: 

- Master’s degree in business administration or related discipline, or an equivalent combination of technical education, training, and experience.
- 7-10 years of experience in the management and investment of real estate assets, including negotiating leases and purchase agreements, conducting hold/sell analyses, performing due diligence and feasibility analyses, and developing long-term economic plans for properties.
- Extensive experience including negotiating leases and purchase agreements, conducting hold/sell analyses, performing due diligence and feasibility analyses, and long-term economic plans for properties.
- Strong understanding of present value/IRR calculations, excellent problem-solving skills, and the ability to think analytically.
- Demonstrated sensitivity to multiple stakeholders, and extremely effective interpersonal skills, excellent written and oral communication skills, a high degree of discretion and judgment, and the ability to resolve complex challenges with diplomacy.
- Self-starter, highly-motivated who can work independently and on cross-functional teams, prioritize, take initiative in originating transactions with a sense of urgency, all with minimal supervision.
- Demonstrated ability to interpret and relate University policies and regulatory controls.
- Proficiency in computerized spreadsheets and word processing programs.

Preferred qualifications

MBA and 10+ years of experience 

How to Apply: 

Please apply directly on Stanford’s career site, requisition 74109: http://stanfordcareers.stanford.edu/job-search?jobId=74109

Application Deadline: 
05/30/2017