Director, Real Estate

STRS Ohio, STRS 

The State Teachers Retirement System of Ohio (STRS Ohio) is seeking a Director of Real Estate.  This position reports to the Chief Investment Officer and will lead the operations of our $9+ billion real estate portfolios, including direct real estate. The successful candidate will develop strategy and lead all aspects of STRS Ohio’s real estate activities such that the performance of the real estate asset class exceeds its benchmark on a long-term basis.

Nearly two-thirds of STRS Ohio’s investment assets are managed internally by more than 100 Investment Department professionals. STRS Ohio’s investment returns for the one-, three-, five-, and 10-year time periods ending June 30, 2022, ranked in the top 10% of Callan’s public fund sponsor database of more than 200 public funds. STRS Ohio also outperformed its benchmark for each of these time periods.

Established in 1920 and serving Ohio’s educators, STRS Ohio is one of the nation’s premier retirement systems serving over 500,000 active, inactive, and retired public-school teachers and university faculty members, managing over $90 billion in assets and paying more than $7 billion in benefits annually.

STRS Ohio provides competitive pay, and a comprehensive benefits package including on-site parking, educational assistance, subsidized medical insurance, fully paid dental and life insurance, vacation and sick leave, retirement benefits and on-site fitness center. AT STRS Ohio, you can experience rewarding work in a professional, business casual work environment and welcomes, celebrates and promotes respect for everyone. We are continually seeking bright and talented individuals to join our team.

Compensation: Competitive Pay

Work Schedule: Monday through Friday, daytime work schedule with occasional weekend and evening hours.  Occasional travel may be required.

General Summary: Under the direction of the deputy executive director and chief investment officer (CIO), responsible for managing approximately 30 professionals in the day-to-day operation of the real estate investment class.

Responsibilities:

1. Assist the deputy executive director and CIO, Investments, in developing strategy, policy and procedures by serving on the investment strategy committee.
2. Plan, direct and lead all aspects of STRS Ohio’s real estate activities, including land/building acquisitions, externally managed investments, asset management, supervise the regional and support area directors, and provide management oversight of the regional offices. 
3. Lead the internal real estate transaction review committee.
4. Serve as chair of the Real Estate Investment Committee in its review and evaluation of new real estate investments recommended by staff.
5. Lead staff meetings and provide leadership, direction and mentoring for the team including succession planning and staffing.

The above list of duties is intended to describe the general nature and level of work performed by persons assigned to this classification.  It is not to be construed as an exhaustive list of duties performed by the persons so classified, nor is it intended to limit or modify the right of any supervisor to assign, direct and control the work of associates under his/her supervision.

Requirements/Experience:

1. Bachelor’s degree in business administration, economics, finance, or other real estate related field required, and a Master’s degree is preferred.
2. Minimum of fifteen years’ experience with financial or real estate firms required.
3. Demonstrated ability to lead, coach and mentor associates and foster a culture of teamwork and collaboration required.
4. Demonstrated experience in acquiring, managing and disposition of institutional quality commercial real estate.
5. Chartered Financial Analyst (CFA) Charterholder preferred.
6. Proficiency in the use of real estate analysis software required.
7. Comprehensive experience, strong real estate market knowledge and familiarity with a diverse range of property types and financial structures required.
8. Superior financial analysis and research skills to analyze, negotiate and close the acquisition of commercial land/building appraisals, contracts and lease agreements required.
9. Superior oral and written communication skills required.