Real Estate Manager

Description The Real Estate Manager at Prosper Portland, the city's economic and urban development agency for the City of Portland, will supervise a team and lead the agency's work related to managing a portfolio of real estate assets and investments to deliver on equitable development, inclusive growth, and economic activity in Portland's Central City and corridors. Position responsibilities include optimizing the performance of operating income properties and strategic real estate investments towards community outcomes and financial return, leasing and tenanting available commercial properties in alignment with the agency's mission and values, and providing expertise on public-private partnerships. This position requires the candidate to be responsive and proactive in their approach to the work and the ability to manage their team and individual workload in a dynamic environment. This position requires a collaborative mindset and working style and the ability to shift priorities that often have a short timeline. Prosper Portland is at a pivotal moment as an agency, with the City Council considering six new TIF districts, requiring a leader who will help define how our real estate work continues to grow and evolve. Come join us! Important Note: This position is open until closed. For first consideration apply by October 24, 2024. The first round of interviews will be held on November 1st. Summary This position develops and oversees the implementation of strategic real estate and asset management functions including optimizing the performance of Prosper Portland's portfolio of real estate properties and direct investments; leasing and tenanting activities; and managing construction services support. The position will use knowledge of commercial real estate leasing, acquisition, and disposition, real estate negotiations and asset management to play a key role in managing portfolio risks and maintain relationships with property owners and property managers. This position leads the Real Estate Team which is responsible for the projects, programs, and assets that support the growth of an equitable economy for the City of Portland and ensure the financial sustainability of the agency. Functions and Responsibilities Oversees and leads team in managing the agency's portfolio of real estate assets including providing guidance on asset management plans, acquisition, and disposition, reporting on asset and investment performance, and monitoring for portfolio optimization. Coaches, mentors, and empowers direct reports; manages staff performance and supports staff development. Generates pro forma cash flows, sensitivities, and financial analyses and plans, including review of underwriting of potential acquisitions; lease versus own analysis; asset hold-sell decisions; and return on investment measures. Evaluates existing real estate financial resources and identifies new public and private investment resources, including via private capital, tax credits, and other public financing tools to ensure strategic project outcomes and portfolio returns are achieved. Oversees and approves complex property management and construction services contracts in close coordination with Legal and Procurement departments. Within limits of delegated authority, issues stop work notices, corrective action notices or other actions; second level to resolve contractor disputes and claims. Oversees research, design, and development of new programs and initiatives, including establishing metrics, pilot testing and refining projects and programs. In coordination with the Development and Investment Director, provides strategic direction and methodology for Prosper Portland's real estate investments and asset management in line with the agency's goals and long-term financial sustainability. Nurtures and develops strategic partnerships with banks, private capital providers, non-profit organizations, foundations, federal and state agencies that enhance the impact of our work for an equitable city. Oversees the development, monitoring, and management of project/program/capital budgets. Participates in the identification and/or resolution of key internal and external policy issues and matters affecting the Development and Investment Department and the agency. Participates as a key member of real estate development/redevelopment projects offering expertise on financial analysis, commercial real estate expertise, and guidance on deal structure and terms. Partners on programs, projects, initiatives, and opportunities with other Prosper Portland teams, including commercial affordability, business development, public benefit agreements, and workforce development initiatives. Oversees measurement, performance, and reporting of initiatives and programs. Oversees and approves complex contract development and amendment in close coordination with the Legal Department and the Professional Services team. Represents the department and the agency on a wide range of technical and policy matters with projects/programs, committees, task forces, City Council, press and public relations matters, etc. Serves as authority and resource within Prosper Portland, to various City Bureaus, and to outside agencies regarding inclusive commercial real estate development and community development. Develops messaging and strategic story-telling using qualitative and qualitative data to communicate the impact of team's efforts; makes presentations to outside stakeholders. May serve as Acting Director in the Department Director's absence. Leads and/or assists the agency with special projects, committees, and other relevant duties as assigned. Scope Operates independently with general direction from Director of Development and Investment. Makes a wide variety of complex decisions that require technical expertise, leadership, initiative, and good judgement. Decisions and errors in work can have significant legal, fiscal, political, and operational impacts to the agency. Work involves a high level of complexity due to the advanced technical nature of the work, the difficulty and leadership skill required to lead a team, the level of inter-departmental and external collaboration, the intense political and community interest in projects and programs, the need to prioritize multiple initiatives, relationship management with a variety of internal and external stakeholders that require negotiation, bridge-building, and compromise, the need to navigate political dynamics, the agency's history of gentrification, and the inherent nature of creating and implementing projects and programs grounded in racial equity. Performs a variety of work functions and a varied scope of work that is often complex, new, and or has a high degree of technical difficulty. Position serves as a subject matter expert to the agency. Position has full supervisory responsibilities of a team. Oversees the work of consultants, temporary workers, and/or student staff. Position has oversight for administration of agency funds, private investment and city funds; possesses expenditure authority to $25,000. Routinely handles sensitive information and must always ensure information security and maintain a high degree of confidentiality. Competencies Putting People First, Inclusion & Collaboration Interpersonal Skills : Advanced ability to establish and cultivate authentic and effective working relationships and partnerships. Exercises active listening, tact, patience, diplomacy, discretion, and political awareness. Mission-Driven Service: Ability to provide excellent service by demonstrating a people-oriented mindset and a willingness to help. Ability to train and provide mentorship, guidance, and thought partnership to others. Teamwork: Ability to work inclusively and collaboratively with others. Resolves conflict and builds consensus. Leadership: Ability to lead, organize, review, and support the work of others. Ability to effectively manage staff performance and invest in staff development. Ability to coalesce, motivate, and empower a team. Communication: Effective use of both verbal and written communication. Advanced ability to speak and present in public. Utilizes negotiation, facilitation, and persuasion skills. Ability to organize, simplify, and report complex data and information to a variety of audiences. Bilingual or multilingual a plus. Cultural Curiosity and Reflection: Ability to learn and use culturally responsive practices to understand, communicate, and work with people across cultures and identities. Honors and embraces differences and models inclusivity in interactions and decisions. Advancing Equity: Knowledge of and a demonstrated commitment to advancing social and racial equity. Actively embeds equity in strategy and practice. Ability to lead others in learning, understanding, and applying the principles and practices of equity to work. Excellence, Innovation & Learning Knowledge: Advanced knowledge of commercial real estate investment, real estate development finance, financial structures, and real estate asset and portfolio management. Working knowledge of property management, construction management, public improvement contracting, and environmental due diligence and clean up. Understanding of and ability to navigate Oregon state statutes governing public improvement projects, building codes, and industry standards relating to construction, and construction procedures, materials, systems, and techniques. General knowledge of federal, state, and local laws and regulations pertaining to areas of responsibility. Knowledge of and ability to apply strategies that center equity in projects and programs. Understanding of project management, public/private partnerships, and general public administration. Knowledge of Microsoft Office, database systems, web-based platforms, and other communication tools. Technical Abilities: Ability to analyze complex budgets, proformas, financial analyses, models, and forecasts. Ability monitor, evaluate, and make recommendations related to asset management. Continuous Learning: Openness to new ideas. Ability to provide and receive constructive feedback. Ability to ask for help and learn from experiences. Problem Solving: Apply advanced research, analytical, and creative problem-solving skills. Exercises sound judgement in carrying out responsibilities. Ability to interpret and apply law, policy, and procedure to work. Adaptability: Flexibility to respond to shifting and competing work demands. Ability to work with ambiguity. Perseveres in the face of obstacles. Planning and Organization: Ability to oversee complex projects, initiatives, and contracts. Advanced ability to strategize, develop, implement, and evaluate goals, policies, and procedures. Ability to develop and manage a budget with multiple funding streams. Accountability: Takes initiative and responsibility for actions. Follows through on commitments and meets deadlines. Maintains confidentiality as appropriate. Minimum Education, Training and/or Experience Six years of experience in commercial real estate development, financial and portfolio management, or equivalent experience. Must have working knowledge to oversee the areas of real estate investment, construction management, environmental abatement, architecture, engineering, and property leasing. Management experience, while not required, is considered helpful and valuable experience. Physical Requirements Position requires ability to remain in a stationary position for extended periods of time along with the ability to frequently move throughout the office. Position often uses a computer and other standard office equipment. Position must communicate and interact with internal and external stakeholders often regarding complex issues. Working Conditions Normal working hours Monday through Friday [8 AM - 5 PM] in a combination of in-person and remote work; however, additional hours will regularly be needed to meet deadlines. Early morning, evening, and weekend meetings may be necessary. Position will often travel to external meetings, properties, or events and may occasionally travel out of the metro area. Assigned work is often politicized, shifting, and complex, which sometimes necessitates working under stressful conditions. Position will be expected to engage in conversation and personal reflection around race, racism, and equity.

Created: 2024-11-19