Managing Director of Real Estate - Virginia Tech Foundation

Virginia Tech Foundation, Inc. (VTF) is a nonstock corporation established in 1948 for the sole purpose of managing the endowment and real estate portfolio of Virginia Tech, now valued at $2.8 billion. VTF exists and operates as a separate, independent entity with its own officers and governing board — managing, investing, and distributing private resources to advance Virginia Tech’s mission and its strategic priorities. VTF’s wholly owned for-profit subsidiary, Virginia Tech Corporate Research Center, Inc., is a research park that catalyzes commercialization and industry collaboration.

Position Summary:

The Virginia Tech Foundation seeks an innovative leader to manage its growing property and real estate portfolio. The Managing Director of VTF Real Estate will oversee all aspects of the Foundation’s diverse real estate and building portfolio, which includes 2.25M square feet of buildings and 2,500 acres of real estate. This portfolio consists of all lands and buildings owned by the Foundation and its subsidiary corporations, including the Corporate Research Center and the Hotel Roanoke. The scope of this oversight includes strategic planning and direction of all processes involved in securing, occupying, developing, maintaining, and liquidating foundation-owned real estate assets.

Role & Responsibilities:

Planning and Leadership of VTF Real Estate and Facilities: Develop and execute a comprehensive real estate and facility management plan that supports the Foundation’s strategic plan. Build, lead, and retain a diverse team of asset managers and facilities professionals and foster a collaborative and high-performance culture within the team.

Data-Informed Decisions: Work closely with Foundation information technology, third-party property managers, and VTF financial managers to develop valid and reliable reporting tools. Raise the level of analysis from descriptive reporting to action planning.

Facilities Budget and Financial Performance: Lead efforts to grow and maintain occupancy while driving operational excellence that delivers positive financial outcomes at the property level.

Sustainability, Safety, and Compliance: Create a culture of sustainability that considers thelong-term impacts of building design and operations to reduce life-cycle costs and environmental impact. Promote operational safety and regulatory compliance to reduce risks and increase productivity. Ensure that all properties are safe and compliant with regulations and standards.

Facilities and Real Estate Policies and Procedures: Review, update, and enact the provisions of all Foundation policies and procedures related to real estate and facilities management. Develop and enact new policies and procedures to manage risk or streamline processes.

Asset Management: Move the day-to-day efforts of the VTF and VTCRC real estate teams from a property management to an asset management focus. Supervise real estate management staff in the acquisition of new properties, both donated and purchased. Oversee processes to create and update lease instruments associated with tenant occupancy of foundation-owned properties. Maintain overall service levels to improve occupancy and tenant retention while achieving each property's revenue goals. Oversee the timely disposition of real estate assets donated to the Foundation with the intent to be liquidated for financial support of University programs. Prepare preventive maintenance plans and associated budgets for all facilities.

Oversee and Expand Third-Party Property Management Contracts: Lead the selection and oversight of third-party property managers. Expand the use of third-party property managers for day-to-day operations (maintenance, housekeeping, rent collection, invoice processing, and financial reporting) of all VTF and VTCRC properties.

New Construction and Renovations: Lead all facility master planning for the Foundation and its subsidiaries in close coordination with University master planning processes. Lead the planning and execution of new construction and renovation projects and the related vendor relationships for project planning, management, and execution.

Qualifications:

• A bachelor’s degree is required in a related field; a Master's degree is preferred.
• Ten (10) or more years of experience required in commercial real estate, facility management, capital construction, or related functions.
• Experience with real estate development and property management information systems implementation.
• Experience guiding an organization through transformational change.
• Must be highly credible and trustworthy and operate with a high degree of integrity.
• Must hold oneself and others accountable and strive for a high level of excellence.
• Broker’s license; certifications from the Institute of Real Estate Management or other similar professional organizations preferred.

Virginia Tech Foundation is an equal opportunity employer.