Senior Managing Director, Real Estate Development

The Stanford Real Estate office ("SRE"), under the university's department of Land, Buildings & Real Estate ("LBRE") is seeking to hire a Senior Managing Director of Real Estate Development. The Senior Managing Director will be a critical senior member of SRE. The primary purpose of this position is to lead SRE's efforts to create and optimize investment land or property value through the active planning, entitlement, development, and redevelopment of Stanford's non-academic lands. Other important focus areas of this position include overseeing SRE's various capital improvement projects associated with existing assets and overseeing new housing development projects that address Stanford's strategic faculty and staff housing needs. The portfolio includes a variety of properties, including commercial office, research and development, housing, hotel and retail properties.

The Stanford Real Estate office manages the off-campus real estate assets for Stanford University including Stanford Research Park. Additionally, SRE also frequently lends its real estate expertise to development projects intended for university use, such as faculty/staff housing, the Stanford Redwood City campus and other university initiatives. All employees in the Stanford Real Estate office benefit from being a part of this world-class University.

This position will report to and assist the Associate Vice President of Real Estate with all aspects of general real estate development responsibilities as well as portfolio-wide strategy and investment decisions. The Senior Managing Director will supervise the Development team within the SRE, a group of project managers and development professionals experienced in all aspects of real estate development and construction management. The Senior Managing Director will also work closely with asset management and finance professionals within the Stanford Real Estate group on new project assessment, strategic planning, development, redevelopment, project forecasting and budgeting, and building improvement projects related to existing assets in Stanford's investment portfolio.

Given the sensitive nature of land use entitlements, it is imperative that the position be filled by a candidate who exhibits diplomacy and sensitivity to multiple interested parties. The Senior Managing Director will be a senior university representative before local jurisdictions, including city managers, staff, and councils, as well as someone who will manage relations with community members and residents directly impacted by projects. Interacting with members of the real estate business community and monitoring market trends will also be important, as well as working collaboratively with other Stanford departments and, from time to time, making presentations to Stanford's Board of Trustees.

PRIMARY RESPONSIBILITIES:

The Senior Managing Director will focus on the following:

• Oversee and lead a department focused on new commercial and residential development and construction projects for both Stanford's investment portfolio and Stanford's faculty staff housing group.
• As a senior member of the Stanford Real Estate team, advise, contribute and help lead strategy, portfolio management and other key decisions in collaboration with the Associate Vice President of Real Estate, and other senior team leaders of SRE.
• Work closely with other Stanford Real Estate team members on issues involving planning and entitlement, community outreach, finance/accounting, budgeting and forecasting, environmental management, asset management, and property management.
• Oversee SRE's project management efforts, including budgeting, scheduling, design review, construction monitoring, document closeout, transition to long-term asset managers, and other aspects of development projects and major capital improvement projects.
• Work with government agencies (city, county and other agencies), community members, business partners, and tenants, as well as representatives of Stanford's Faculty Staff Housing department, and other university representatives to plan and implement projects.
• Provide leadership and guidance to team project managers with management of project teams, including Architects, Engineers, technical consultants, contractors, vendors, and other members of the development or construction team.

In addition to the above, the Senior Managing Director will assist in various other projects of the Real Estate group, including long-term strategic planning initiatives and other university initiatives.

QUALIFICATIONS:

• Experience managing a team of entitlement and construction professionals.
• Knowledge of all aspects of real estate investment fundamentals, including underwriting, finance, accounting, leasing, sales and acquisition, and property management.
• Solid grounding in the full project life cycle of planning, design, and construction, with significant experience in commercial investment development.
• Experience with varied product types, including housing, is preferred due to Stanford's numerous and diverse land uses and real estate product types.
• Experience interacting with local government staff, community members, and business partners.
• Exhibit effective interpersonal skills and the ability to interpret and relate university policies and regulatory controls to project objectives.
• Possess strong leadership, problem solving, and conflict resolution skills.
• The candidate must be a self-starter, learn new concepts quickly, who can work independently with minimal supervision under tight deadlines and in pressure situations. Accuracy, attention to detail, and high work standards are required.
• The candidate must also be a strong mentor and leader, providing guidance, supervision and support to their team, their colleagues, and other University partners.

Core Duties:

• Lead the business unit responsible for orchestrating and executing real estate development.

• Lead strategic planning, multiyear project prioritization, deal origination and structuring, planning, and funding, and strategic condition assessment programs. Develop program vision and ongoing strategy.

• Lead the entire development project team through the successful completion of approved projects.

• Evaluate and determine the highest and best use of properties/land being returned to the university at the expiration or buyout of ground leases.

• Initiate recommendations for land use entitlements, redevelopments, ground lease sales and/or purchases, and tenancies.

• Make investments, transact ground leases, or finance developments up to a predesignated value per project before seeking approval from SMC''s Board of Directors or the Board of Trustees.

• Oversee technical professionals responsible for a comprehensive, multi-faceted functional area including planning, construction, environmental and related services.

• Serve as a university representative before local jurisdictions, and directly manage relations with community members/residents impacted by projects.

Minimum Education:

Master's degree in marketing, urban planning, business administration or related discipline, or an equivalent combination of technical education, training, and experience.

Minimum Experience:

Fifteen years of related, progressively responsible experience requiring extensive leadership and strategic expertise or a combination of education and relevant experience.

Knowledge, Skills and Abilities:

• Ability to recognize and evaluate potential in available facilities and land sites for later development, as well as the capacity to secure approval and funding for proposed buildings.

• Vision and ability to execute on a project with demonstrated project management skills.

• Knowledge of entire development process from finance, acquisitions, investments, marketing, leasing, sales, site selection, construction, partnership agreements, legal.

• Strong management and delegation skills.

• Ability to form strong partnerships; and ability to effectively manage other real estate professionals, including architects, planners, engineers and attorneys.

• Strong market knowledge and up to date on current trends

• Perseverance with ability to work in an uncertain environment.

• Strong communication skills.

• Demonstrated diplomacy and sensitivity to multiple interested parties, including community groups, city staff, and political leaders.

Core Duties:

• Lead the business unit responsible for orchestrating and executing real estate development.

• Lead strategic planning, multiyear project prioritization, deal origination and structuring, planning, and funding, and strategic condition assessment programs. Develop program vision and ongoing strategy.

• Lead the entire development project team through the successful completion of approved projects.

• Evaluate and determine the highest and best use of properties/land being returned to the university at the expiration or buyout of ground leases.

• Initiate recommendations for land use entitlements, redevelopments, ground lease sales and/or purchases, and tenancies.

• Make investments, transact ground leases, or finance developments up to a predesignated value per project before seeking approval from SMC''s Board of Directors or the Board of Trustees.

• Oversee technical professionals responsible for a comprehensive, multi-faceted functional area including planning, construction, environmental and related services.

• Serve as a university representative before local jurisdictions, and directly manage relations with community members/residents impacted by projects.

Minimum Education:

Master's degree in marketing, urban planning, business administration or related discipline, or an equivalent combination of technical education, training, and experience.

Minimum Experience:

Fifteen years of related, progressively responsible experience requiring extensive leadership and strategic expertise or a combination of education and relevant experience.

Knowledge, Skills and Abilities:

• Ability to recognize and evaluate potential in available facilities and land sites for later development, as well as the capacity to secure approval and funding for proposed buildings.

• Vision and ability to execute on a project with demonstrated project management skills.

• Knowledge of entire development process from finance, acquisitions, investments, marketing, leasing, sales, site selection, construction, partnership agreements, legal.

• Strong management and delegation skills.

• Ability to form strong partnerships; and ability to effectively manage other real estate professionals, including architects, planners, engineers and attorneys.

• Strong market knowledge and up to date on current trends

• Perseverance with ability to work in an uncertain environment.

• Strong communication skills.

• Demonstrated diplomacy and sensitivity to multiple interested parties, including community groups, city staff, and political leaders.