Real Estate Manager

The Real Estate Manager is part of the Facilities Real Estate Department at Vanderbilt University and is a key individual contributor responsible for oversight of the university's real estate portfolio and management of acquisitions/dispositions, developer partnership, and strategic projects. The Real Estate Manager also assists as needed with leasing, senior leadership reports, and data management. The Real Estate Manager reports directly to the Director, Real Estate.

Vanderbilt University Real Estate (VURE) is responsible for a portfolio of 41 buildings consisting of ~1 million gross rentable square feet, 760,000 square feet of commercial space, 305 apartment units, University ground leases, 425,000 square feet of leased space, the Vanderbilt Legends Club golf course and facilities, and the Holiday Inn Nashville. The Real Estate department supports the university in all real estate related matters including acquisitions and dispositions, tenant and department space planning, leases with 3rd parties, and strategic initiatives.

Facilities' annual budget exceeds $100 million in operating expenses and includes over 400 employees. Facilities manages major capital project expenditures totaling ~$125 million annually and facility renewal, replacement and large maintenance project expenditures totaling ~$20 million annually.

Duties and Responsibilities

Act as the liaison between VURE, its third-party management companies (commercial and residential), and its tenants.

• Participate in bi-weekly meetings with the commercial and residential management team to track property issues.
• Work with property managers to update and maintain capital plans, determine prioritization of expenses between portfolios and buildings, and lead internal approvals process for major projects.
• Serve as VURE point person for major renovation projects (the management company will be primary project manager). Lead internal project approval, contract execution process, engage all necessary internal VU stakeholders, provide updates to leadership, and work with VURE accounting team on setting up and monitoring budget and expenses.
• Organize and conduct building walkthroughs and report out on an annual basis.
• Serve as primary VURE tenant contact for space planning purposes (lead tours of potential spaces, evaluate available space for potential tenant groups, etc.), escalated property management issues, and miscellaneous tasks.
• Serve as VURE point person on various Facilities committees (i.e. sustainability, safety and security) to ensure VURE aligns with and implements university priorities, as relevant and applicable.
• Track key performance indicators quarterly, conduct tenant satisfaction surveys, and make recommendations for improvements to the VURE team and managers.
• Manage reports and records related to property management, such as property deeds, key logs, and property lists.
• Manage bid process for property management contracts, as needed.
• On an as-needed basis, assist Director with discreet tasks related to the management of VURE-managed subsidiaries, Legends Club Golf Course and Holiday Inn Vanderbilt.

Conduct Research Projects and Presentations

• VURE completes a variety of special projects annually to support Vanderbilt's and VURE's strategic initiatives. Past projects have included assessing Faculty and Staff Housing needs at VU and solutions at comparable universities, identifying temporary classrooms and housing for use during COVID-19, and identifying key future landbanks and relevant property information.
• Lead research and data analysis on special projects, draw conclusions, and develop recommendations. Create executive-level presentations and reports.
• Assist Director in preparation of reports for senior leadership, including quarterly real estate forum materials, approval memos for senior leadership and Board of Trust, and land use and acquisition reports.

Manage and/or provide support for property acquisitions, dispositions, gift properties, and easements (as needed).

• Analyze potential acquisition and disposition opportunities to determine expected property performance and impact on VURE portfolio.
• Manage or support overall acquisition process, including appropriate internal approvals, review of legal documents, and coordination of due diligence process.
• Work with internal stakeholders and property management companies to "on-board" properties once acquired.
• Assess any gift properties under university consideration and provide guidance to internal stakeholders on accepting or declining the gift.
• Manage any requests for easements on Vanderbilt property, convening necessary stakeholders (i.e. Campus Planning, General Counsel, VUIT).

Project management of the university's public-private partnership (P3) initiatives (as needed).

• Serve as central project manager connecting various internal and external parties through all stages of P3 partnership: (1) strategic project definition, (2) solicitation and developer selection, (3) developer negotiation, (4) construction oversight, and (5) on-going operations.
• Internal stakeholders include senior leadership, academic schools and departments, Facilities representative, Finance / Purchasing Services, and General Counsel. External stakeholders include project consultants, architects, external counsel, and developers.
• Anticipated responsibilities include tracking and delegating next steps, scheduling meetings, reviewing materials and reports, connecting internal and external stakeholders, reviewing developer proposals, reviewing and commenting on legal documentation, and attending weekly project meetings.

Assist with management of 3rd party leases (both Vanderbilt as tenant and Vanderbilt as landlord) (as needed).

• As needs arise, work with VURE team, occupant/tenant, and management companies to review lease language and evaluate compliance with leases.
• Assist the Assistant Director with managing business relationship and contracts with landlords and vendors concerning any activity associated with Vanderbilt leases.
• Cross-train on managing and maintaining lease database and information (AMT Direct).
• As needed assist with reviewing lease proposals and drafting approval memos prior to execution of the lease.
• Work with the accounting team on monthly payments, CAM payments and reconciliations, and any necessary payment changes.

Manage ongoing real estate reports and records relevant to areas of responsibility.

When applying for this position, please include a cover letter explaining why you would like to work at Vanderbilt University and how your skill set will match this role.

Qualifications

• Bachelor's Degree is preferred , but equivalent work experience will be considered in lieu of education.
• 3-5 years of related experience is required.
• Experience with property management is a plus.
• Experience with project management, particularly managing a variety of internal and external stakeholders is a plus.
• Experience with public-private partnerships and acquisitions/dispositions is a plus.
• Outstanding written and verbal communication skills are necessary.
• Experience with analyzing data, drawing conclusions, and making recommendations to senior leadership in the form of a memo or presentation with little oversight and direction is necessary.
• Proven ability to think critically, problem solve, and manage a variety of priorities in a fast-paced environment.
• Strong attention to detail and ability to transfer knowledge from one situation to the next.
• Ability to comprehend and interpret instructions, short correspondence, and memos and ask clarifying questions to ensure understanding.
• Ability to use independent judgment, problem-solving ability, self-starting and ability to prioritize based on relevant factors.
• Ability to manage multiple tasks, meet deadlines, respond to requests on a timely basis and be flexible with changing business needs.

Commitment to Equity, Diversity, and Inclusion

At Vanderbilt University, we are intentional about and assume accountability for fostering advancement and respect for equity, diversity, and inclusion for all students, faculty, and staff. Our commitment to diversity makes us who we are. We have created a community that celebrates differences and lets individuality thrive. As part of this commitment, we actively value diversity in our workplace and learning environments as we seek to take advantage of the rich backgrounds and abilities of everyone. The diverse voices of Vanderbilt represent an invaluable resource for the University in its efforts to fulfill its mission and strive to be an example of excellence in higher education.

Vanderbilt University is an equal opportunity, affirmative action employer. Women, minorities, people with disabilities, and protected veterans are encouraged to apply.

Please note, all candidates selected for an offer of employment are subject to pre-employment background checks, which may include but are not limited to, based on the role for which they have been selected: criminal history, education verification, social media review, motor vehicle records, credit history, and professional license verification.