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Real Estate Development Associate

  • Industry: Facilities Management
  • Location: Maryland - Baltimore
  • Client: Higher Education
  • Search ID: 19-0204-15

Johns Hopkins University has retained Helbling to conduct an executive search to secure a Real Estate Development Associate. Reporting directly to the Chief Real Estate Officer (CREO) and working closely with the Development Manager, the Real Estate Development Associate will work on all facets of strategic real estate initiatives and development projects in a collaborative team environment. The Development  Associate is responsible for assisting the Assistant Director of Real Estate and CREO in the day-to-day coordination of activities, assigned duties, and projects. Projects and duties may include feasibility analysis, due diligence, procurement, day to day management for redevelopment of existing assets with third party partners, ground leasing land to third parties for development, acquisition/dispositions, neighborhood development initiatives, and new development.

The wholly owned Johns Hopkins portfolio includes 19 buildings with approximately 2.1 million square feet and an aggregate annual operating budget in excess of $60 million plus related capital projects. The University also leases over two million square feet of space in third party buildings, owns a hotel / conference center under third party management, has several ground leases to third parties, owns a residential portfolio of 265 units in four properties, and is considering other significant prospective development sites.

Essential Job Functions

  • Coordinate internal and external project team members from various disciplines including asset management, leasing, legal, finance/budgeting, planning/design, construction, accounting from inception through a fully-transitioned. Perform and oversee due diligence tasks with respect to zoning, title, environmental risk and other potential barriers to development. Research zoning ordinances and entitlement processes within applicable jurisdictions in conjunction with legal counsel and other professionals. 
  • Analyze and underwrite proposed projects and include evaluation of comparable projects.
  • Manage Excel based project pro-formas and schedules, including initial preparation, updating, and comparing/reporting variances among versions. Analyze and prepare financial sensitivity analyses and cash flow projections.
  • Work with accounting department to prepare project reports. 
  • Prepare requests for proposals, manage RFP process, analyze proposals, for assigned projects and make recommendations to the leasing team in accordance with the approved pro-forma. 
  • Assist in the negotiation of joint venture documents, loan documents, purchase and sale agreements, etc. as necessary and applicable to assigned projects. 
  • Negotiate professional service agreements with engineers, planners, consultants, surveyors, and other professionals as assigned. 
  • Act as a liaison with third-party partners if applicable. Ensure receipt of, and fully review, any required reporting from such partners. Provide any feedback and required reporting to such partners. 
  • Constantly and proactively monitor progress, budget, and schedule and report any variances, unexpected trends, or other issues.  
  • Coordinate with consultants and municipalities to obtain entitlements and permits. 
  • Research and monitor local real estate sub markets and industry trends. Track competition, comparable lease transactions, regional trends, and overall general market conditions. 
  • Assist with management of various aspects of the development process as needed, with the guidance and oversight of senior team members.

This position specification is a general statement of required major duties and responsibilities performed on a regular and continuous basis. It does not exclude other duties as assigned.

The Organization

The Johns Hopkins University is one of the world’s leading research universities. Based in Baltimore, Maryland, the University comprises 10 academic and research divisions and numerous centers, institutes, and affiliated entities throughout the Baltimore-Washington area and abroad. Divisions of the university include: the Zanvyl Krieger School of Arts and Sciences, the G.W.C. Whiting School of Engineering, and the School of Education on the Homewood campus; the School of Medicine, the Bloomberg School of Public Health, and the School of Nursing located nearby in East Baltimore; the Peabody Institute and the Carey Business School in downtown Baltimore; the Paul H. Nitze School of Advanced International Studies in Washington, D.C. with campuses in Bologna, Italy and Nanjing, China; and the Applied Physics Laboratory in Laurel, Maryland. In the fall term of academic year 2017- 2018 Johns Hopkins had a total enrollment of 25,151 students. The University attracts the finest undergraduate, graduate, and professional students and more federal research and development funding than any other university in the United States.

The mission of the University is to educate its students and cultivate their capacity for life-long learning, to foster independent and original research, and to bring the benefits of discovery to the world. Johns Hopkin’s real estate initiatives are closely tied to both the mission of the university as well as President Daniels’ vision for the university as expressed in his Ten by Twenty goals. Johns Hopkins is extraordinarily entrepreneurial and excellence-driven, and this entrepreneurial spirit generates the innovation for which Johns Hopkins is known internationally—innovation that often happens through collaborations that harness complementary strengths to find solutions to our greatest societal, philosophical, and scientific challenges. 

The Johns Hopkins Medicine:
The mission of Johns Hopkins Medicine is to improve the health of the community and the world by setting the standard of excellence in medical education, research and clinical care. Diverse and inclusive, Johns Hopkins Medicine educates medical students, scientists, health care professionals and the public; conducts biomedical research; and provides patient-centered medicine to prevent, diagnose and treat human illness. Johns Hopkins Medicine pushes the boundaries of discovery, transforms health care, advances medical education and creates hope for humanity.

In 1997, leaders of the Johns Hopkins University School of Medicine and the Johns Hopkins Health System Corporation came together to form Johns Hopkins Medicine, and this blended governance structure has contributed to the success of the organizational mission – excellence in patient care, research and education. Johns Hopkins Medicine employs more than 40,000 full-time faculty and staff members, making it among Maryland’s largest private employers and the largest in Baltimore City. Johns Hopkins Medicine operates six academic and community hospitals, four suburban health care and surgery centers, and has more than 2.8 million outpatient encounters per year.

Minimum Qualifications

  • B.A. or B.S. degree required; business, engineering, or architecture/planning related majors preferred. Advanced business, real estate, or other related degrees desirable.
  • Five (5) to seven (7) years of development, Real Estate, Finance, or other related experience required.
  • Substantive involvement in at least one complex commercial or mixed-use project strongly preferred.
  • Additional education may substitute for required experience, and additional experience may substitute for required education, to the extent permitted by the JHU equivalency formula.

JHU Equivalency Formula
30 undergraduate degree credits (semester hours) or 18 graduate degree credits may substitute for one year of experience. Additional related experience may substitute for required education on the same basis. For jobs where equivalency is permitted, up to two years of non-related college course work may be applied towards the total minimum education/experience required for the respective job.

Essential Knowledge, Skills and Abilities

  • Excellent project management skills including the ability to prioritize and balance competing activities on multiple projects. Ability to keep processes moving forward and take initiative as appropriate.
  • Self-directed and motivated, demonstrate quick turnaround, follow through and follow up.
  • Attention to detail in every respect.
  • Ability to work well under pressure and in a team environment.
  • Ability to understand complex legal documents such as joint venture agreements, construction contracts, land contracts, title restrictions, permanent and construction financing agreements, and other documents related to the project.
  • Knowledge of engineering and architectural plans.
  • Advanced proficiency in financial modeling and analysis using Excel. Experience with Microsoft Project is preferred.
  • Ability to work and coordinate against schedules and budgets.
  • Advanced experience Microsoft Office, including Excel, Word, PowerPoint, and Outlook.
  • Independent worker who can prioritize and coordinate multiple competing tasks in a timely fashion.
  • Excellent written and oral communication skills. Confident and capable when communicating with customers inside and outside the company.
  • Ability to work well and communicate effectively with a broad range of individuals and professions and foster good working relationships with all members of the project team and outside parties.
  • A high degree of professionalism, ethics, and a strong work ethic driven by a desire for quality. 
  • Exercises good judgment and uses discretion. 
  • Composed demeanor, professional appearance, positive attitude and customer-oriented approach are priorities for this position. 
  • Ability to work flexible or extended hours to accommodate increased workload/projects and to attend industry-related meetings or events in the evenings and on weekends. Must be reliable, dependable with excellent attendance; flexible and versatile.

Search Consultant: Aubrey Allen

Johns Hopkins University is an equal opportunity employer and does not discriminate on the basis of gender, marital status, pregnancy, race, color, ethnicity, national origin, age, disability, religion, sexual orientation, gender identity or expression, veteran status, other legally protected characteristics or any other occupationally irrelevant criteria. The University promotes Affirmative Action for minorities, women, individuals who are disabled, and veterans. Johns Hopkins University is a drug-free, smoke-free workplace.

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