Director, Portfolio Strategy and Management, Stanford Research Park
Job Number: 89696
Stanford Real Estate (SRE) is a division within Stanford University with the primary mandate to invest and optimize the risk-adjusted value of the University's income-producing lands and to deploy real estate expertise in meeting evolving University priorities. Stanford Real Estate, a department within Land, Buildings and Real Estate (LBRE), is governed by the Stanford Management Company Board of Directors and the Stanford University 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 is primarily responsible for performance, value-creation strategy and transactions for the prestigious and world-renowned Stanford Research Park (SRP) portfolio. A preeminent real estate portfolio of Stanford University, Stanford Research Park is comprised of 10.7 million square feet of improved R&D and office buildings. SRP's current market value (year-end, Fiscal Year 2020) is $4.0B, with an underlying, unencumbered fee simple value of $11B. The Director focuses on maximizing the near-term and long-term value and performance of this significant and complex real estate portfolio in Palo Alto, California. Known for our long-standing relationships and track record of success, SRE combines entrepreneurial spirit with an institutional approach to deliver value-add solutions to the world's most innovative companies.
The Director will report to the Managing Director; the Associate Director, Asset Management and third-party Property Manager report to the Director. The ideal candidate is a highly motivated and self-directed leader; is practiced at originating strategic transactions of significant scale and complexity; is skilled at negotiations and directing financial analysis; possesses a relevant understanding of real estate industry trends; and is passionate about the mission of Stanford University. 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, and community members.
Description of Job Responsibilities
Ongoing implementation of the Stanford Research Park portfolio strategic business plan, which entails initiating recommendations and executing long-term strategic initiatives to create value and maximize risk-adjusted returns on the SRP portfolio. 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 leases, direct purchases or redevelopments of sites.
Continually monitor portfolio financial performance to identify and make recommendations on how to capitalize on opportunities and proactively mitigate risks.
Originate transactions, structure and negotiate complex agreements to either purchase or extend ground leaseholds, seize direct leasing opportunities or market new long-term ground leases.
Supervise and approve portfolio reporting, data collection, analytics, and annual portfolio valuation.
Oversee annual business plan process and cash flow forecasting, including evaluation of changing scenarios and stress tests utilizing third party applications (Argus, etc.).
Lead marketing strategy, due diligence and closing efforts associated with sales, purchases or leasing of assets, and engage consultants and advisors to assist with the effort as needed.
Evaluate and approve 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 SRP, including conducting urban planning, architectural, economic, environmental, and other analyses designed to enhance the competitive advantage and income potential of the SRP portfolio.
Direct and coordinate team of internal and external consultants with functional expertise, including legal, finance, lease administration, environmental, market research, and leasing.
Make strategic recommendations and execute solutions for any ownership and management issues that arise in the Stanford Research Park, which often entails collaboration across cross-functional teams.
Maintain positive relations and regular communications with SRP tenants and lessees and seek opportunities to align efforts and reinforce each other's investment goals.
Effectively work with various constituents to educate them about SRP and seek areas of alignment, which entails the ability to develop relationships and rapport.
Candidate Qualifications and Experience
Experience: A seasoned real estate professional with at least 7 years of experience in principal real estate investing, including portfolio management, asset management, and transaction underwriting and execution; and a strong track record in transaction structuring, document negotiation, conducting hold/sell analyses, performing due diligence and feasibility analyses, and developing and implementing long-term asset specific and portfolio-wide plans.
Education: A Bachelor's degree is required. An MBA, Master's Degree in Real Estate, law degree or other related post graduate degree is helpful, although not required.
Broad, extensive experience in real estate asset management experience, capable of bringing a disciplined, organized, and institutional investment quality approach to overseeing the portfolio.
Ability to develop and manage strategic business plans at both the individual asset level and the portfolio level.
Contract and negotiating experience, including lease negotiations, purchase and sale agreements.
Experience with property acquisition diligence, feasibility analyses.
Experience overseeing renovations and property development.
Demonstrated ability to interpret and relate University policies and regulatory controls.
Strong understanding of present value/IRR calculations, excellent problem-solving skills, and the ability to think analytically.
Strong ability to think, communicate and write strategically and succinctly.
High moral character, capable of a high degree of discretion, judgment, professionalism.
Excellent management, leadership, and mentoring skills.
Highly-motivated self-starter who can work independently and on cross-functional teams and take initiative with a sense of urgency, all with minimal supervision.
Demonstrated sensitivity to multiple stakeholders, and extremely effective interpersonal skills.
High intellectual curiosity, critical thinker, able to resolve complex challenges with diplomacy.
Able to see outside the immediate approach to plan several steps ahead and chart contextual, strategic solutions.
Strong organizational and prioritization skills with the flexibility to adjust and adapt.
Is a transparent, open communicator especially with immediate supervisor. Will quickly communicate challenges and recommendations.
Redwood City and Palo Alto, CA
COMPENSATION: This person will earn a market-competitive and performance-driven compensation package. This position will enjoy the many benefits of being a part of this world-class University.
Constantly perform desk-based computer tasks, frequent stand/walk, and use a telephone.
Occasionally write by hand, occasionally lift/carry/push/pull objects that up to 10 pounds, grasp lightly/fine manipulations.
Rarely kneel/crawl, operate foot and/or hand controls.
* Consistent with its obligations under the law, the University will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job.
This position may entail occasional overnight travel (10-20% travel out of town) and participation in some evening events.
May work extended hours, evenings and weekends.
Interpersonal Skills: Demonstrates the ability to work well with Stanford colleagues and clients and with external organizations.
Promote Culture of Safety: Demonstrates commitment to personal responsibility and value for safety; communicates safety concerns; uses and promotes safe behaviors based on training and lessons learned.
Subject to and expected to comply with all applicable University policies and procedures, including but not limited to the personnel policies and other policies found in the University's Administrative Guide, http://adminguide.stanford.edu.
*A background check will be required for all final candidates
We are not able to provide sponsorship for this position.
The job duties listed are typical examples of work performed by positions in this job classification and are not designed to contain or be interpreted as a comprehensive inventory of all duties, tasks, and responsibilities. Specific duties and responsibilities may vary depending on department or program needs without changing the general nature and scope of the job or level of responsibility. Employees may also perform other duties as assigned.
Stanford is an equal employment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other characteristic protected by law.
Location: Land, Buildings and Real Estate, Redwood City, California, United States Schedule: Classification Level:
Stanford is an equal opportunity employer and all qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by law.
Copyright 2017 Jobelephant.com Inc. All rights reserved.
Located between San Francisco and San Jose in the heart of Silicon Valley, Stanford University is recognized as one of the world's leading research and teaching institutions. Leland and Jane Stanford founded the University to "promote the public welfare by exercising an influence on behalf of humanity and civilization." Stanford opened its doors in 1891, and more than a century later, it remains dedicated to finding solutions to the great challenges of the day and to preparing students for leadership in a complex world. The University's thriving diverse community is comprised of nearly 7000 undergraduate students, 12000 graduate students, 2000 faculty members, 1900 postdoctoral scholars, and over 11,000 academic and administrative staff in seven schools including several interdisciplinary research centers and institutes. The campus spreads over 8000 contiguous acres and nearly all undergraduates live on campus. Stanford offers bachelor's and master's degrees in addition to doctoral degrees (PhD, MD, DMA and JD) plus a number of professional and continuing education programs and certifications. More at http://facts.stanford.edu and http://www.stanford.edu. Stanford is an equal empl...oyment opportunity and affirmative action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, or any other characteristic protected by law. Stanford also welcomes applications from others who would bring additional dimensions to the University’s research, teaching and clinical missions.