The Director, Real Estate is a key leadership position charged with the strategic stewardship of the campus of Tufts Medical Center in downtown Boston. This position will refine and execute a real estate program that is aligned to the long term vision and fiscal plan for Tufts Medical Center, which is part of Wellforce, a growing healthcare system, with needs for real estate expertise. This position is responsible for all aspects of the real estate portfolio and facility management in our rapidly-evolving health care market, planning for future needs and identifying and implementing development opportunities. This is an opportunity to assess the usage and value of an extensive urban real estate portfolio to help Tufts Medical Center envision delivery of next generation health care and leading edge medical research. This role requires an innovative, highly driven leader who can think boldly, act decisively and navigate through complexity. The Director, Real Estate will interact with all levels of the organization, regularly working with the senior leadership team and Board of Trustees. This position reports to the Senior Vice President, Chief Financial Officer.
Develops and implements the real estate strategic plan.
Assesses existing real estate portfolio and develops options for acquisition and disposition of properties, and oversees all leasing operations.
Must work to foster positive relationships with Tufts University including its Medical School, Wellforce and its member, the Chinatown Community and multiple governmental and non-governmental entities.
Partners with CFO to establish capital management and financing strategies, leveraging full spectrum of financing instruments.
Identifies, selects and manages third party consultants, vendors, subcontractors, suppliers, etc., in order to plan strategy and accomplish projects, consistent with Tufts Medical Center practices and policies.
Manages real estate portfolio as well as all leases, which includes negotiation of new leases and ensuring adherence to established lease terms.
Administers on-site and off-site leases, developing and implementing standard templates and processes.
Coordinates the integration of facility assets as new partnerships and affiliations are established within the Tufts Medical Center entity.
Identifies key external stakeholders for all aspects of the real estate strategy, such as public officials, utility companies, lenders, philanthropic and community organizations, establishing effective outreach practices and working relationships as appropriate.
Manages all aspects of planning and development real estate initiatives which require integration of strategic, capital, and facilities planning. Responsible for business plan reviews, needs forecasting, comparative facilities analysis, asset utilization and space optimization standards. Incorporates best practices for safety and sustainability in project plans.
Facilitates collaboration across the enterprise to ensure that unique clinical, technological and scientific requirements are integrated into the planning process and partners effectively with departments during project execution to ensure effective communications and change management needs are fully addressed. Prioritizes and sequences projects to mitigate impact to 24x7 patient care services. Demonstrates commitment to safety in all aspects of project execution.
Develops novel and comprehensive methodologies for analyzing and solving operational, facility and strategic planning issues.
Oversees preparation of pre-construction budgets and schedules and evaluates value engineering options. Manages project budget and timeframe including rigorous controls and reporting processes, with an emphasis on identifying and mitigating cost and schedule overruns.
Contributes to strategic facilities analyses and functional programming for the Medical Center. Contributes to all levels of the project, including analytic design, management, report writing and presentation of the project to senior management and Board Committees.
Organizes / drives RFI’s, LOI’s, RFPs for architects and engineers and other service providers and suppliers in coordination with the Sr. VP of Finance and CFO and in partnership with Facilities.
Ensures effective management and administration of regulatory processes at the state and local level in coordination with appropriate consultants.
Manages various special projects, as they arise, and develops new controls/processes as needs are identified.
Serves as the expert for best practice, state-of-the-art facility development.
Coordinates all plans with the Facilities, Safety and Emergency Planning teams.
Manages regulatory processes at the state and local level for all real estate projects, including hospital licensure.
Ensures adherence to various reporting requirements.
Keeps abreast of all regulations, and reporting procedures.
Responsible for Master Facility Plan of Tufts MC, both on and off campus.
Contributes to, and integrates with, Wellforce real estate strategy, projects and requirements.
Oversees operational responsibility for routine facilities planning and management.
Manages regulatory processes at the state and local level for all projects, including hospital licensure.
Ensures adherence to various reporting requirements.
Keeps abreast of all regulations and reporting procedures.
Coordinates all plans with Safety and Emergency Planning teams.
Leads team and develops staff capability and expertise in real estate and project management. Directs and supervises assigned personnel including performance evaluations, scheduling, orientation, and training.
Makes recommendations for employee hires, transfers, promotions, salary changes, discipline, terminations and similar actions.
Develops, recommends and manages budgets for all areas managed. Coordinates the assignment of tasks for the efficient utilization of available resources.
Addresses grievances and other personnel problems within position responsibilities. Provides effective direction, guidance, and leadership over the staff for effective teamwork and motivation.
Adheres to all pertinent policies, practices and requirements for vendor selection, management and oversight.
Performs other similar and related duties as required or directed.
Bachelor’s degree required. Master’s degree in Business, Real Estate Development or related discipline is desirable.
15 to 20+ years of experience in real estate development and related experience is required.
Must have extensive commercial real estate experience, demonstrating past work in key phases of planning, investment, financing, strategy development and leadership of project design and build.
Past experience must include large, complex projects in urban settings and addressing interests and needs of multiple community stakeholders with a commitment to safety.
Complexity may be characterized by some combination of size and scope, structure of capital/financing, working with older urban infrastructure, highly regulated projects, stakeholder communities, and phasing/sequencing of projects.
Real estate development experience in Greater Boston area is a plus.
Must have experience working with multiple and complex financial and partnership structures, understanding how to collaborate with legal, finance and others to ensure due diligence and optimal deal structures.
This position requires a strong leadership presence based on experience in previous roles working closely with executive leadership teams, boards of directors/trustees and other external executive stakeholder, with an emphasis on building and maintaining a constructive partnership with Tufts University and the Tufts University Medical School.
It is critical for the successful candidate to understand the unique role that Tufts Medical Center serves in the local community and be able to lead, collaborate and achieve results in a manner that is consistent with our commitment to the community and our mission as an academic medical center.
This position requires highly effective interpersonal skills, including listening skills and the ability to recognize and handle sensitive situations diplomatically.
Must have well-developed business acumen and strong analytical skills, as well as strong negotiation skills as demonstrated by past roles involving complex, time-sensitive transactions.
Must have a successful track record of adapting these skills to different business models and industries.
Must be a highly self-motivated individual with the ability to function and lead in a fast paced environment with limited supervision and direction.
Must be able to problem-solve independently and have the professional discretion to know how and when to elevate material issues to leadership team.
Must possess urban permitting, real estate development and construction management experience and have professional / technical knowledge about federal and state regulations pertaining to construction.
Must be able to handle multiple, complex tasks and priorities, with the ability to effectively communicate and delegate, working across organizational lines in a growing healthcare system.
Previous real estate/facilities experience in healthcare is desirable, particularly as it relates to partnering with clinical leaders, having knowledge of healthcare permitting & regulatory requirements as well as Joint Commission and related compliance standards.
Ability to function independently with a broad scope of department policies and practices.