Senior Director, Property Management

BioMed Realty is looking for a Senior Director, Property Management who can manage a team of Property Managers and oversees the operational and financial performance for a portfolio of commercial lab and office properties, ensuring company goals and expectations are met. The successful candidate must exemplify highly effective management and leadership skills, and have a proven ability to maximize value and enhance performance of high quality office and lab assets.

This position offers a hybrid work model, which includes 4 days in office and 1 day remotely. Hybrid work may be modified based on the needs of the company.

Key Duties and Responsibilities

Operations and Tenant Relations:

• Manages Property Management staff who are responsible for ongoing, day-to-day property management, which includes interfacing and managing relationships with: tenants; prospective tenants and brokers for leases; vendors and staff for property maintenance, safety and building infrastructure and tenant improvements; local jurisdictions and community constituents.
• Oversees all aspects of Property Management within a given portfolio and is ultimately responsible for the day-to-day physical and financial performance related to operations within said portfolio.
• Conducts site inspections to assess the physical conditions of the asset, evaluates on-site personnel, monitors competition and market conditions and develops and implements action plans to remain competitive.
• In the performing aforementioned duties, collaborates with Facilities Management on all building mechanical systems and structural issues.
• Implements and oversees on-going risk mitigation programs in collaboration with the Risk Management and Legal Departments and ensures compliance with all state, local and federal requirements, to include environmental.
• Assists with lease language review and provides input during lease language negotiation. Ensures adherence to tenant lease terms once final.
• Develops and maintains professional relationships with tenants, vendors and co-workers as well as local jurisdictions and community constituents. Collaborates regularly with internal departments such as accounting, facilities, legal, leasing, and development.
• Enhances and oversees community and tenant engagement programming in-line with BioMed Realty’s environmental, social, and governance goals and initiatives.
• Provides input during development meetings to ensure operational needs are met relative to amenities build-out, tenant improvements, spec suite improvements and new developments. Monitors on-going development activity.
• Collaborates with Facilities Management and Development on the commissioning of new buildings including establishment of budgets, contract services, and Standard Operating Procedures.
• Must take ownership of the assigned portfolio and support the Property Management teams as necessary in responding to emergencies and after-hours requests.
• Provides back-up and support to direct reports when there is an extended leave of absence,
• Helps ensure consistency in BioMed Realty operating procedures and processes across the company and oversees change to bring forth efficiencies.
• Ensures staff have the training, tools and resources needed to be successful.

Financial Performance:

• Oversees and participates in the budget process for Real Estate Operations and shares responsibility for the overall financial performance and ongoing property performance of assigned real estate portfolio.
• Reviews and analyzes property operational and financial reports to ensure P&L performance, revenue growth and expense control.
• Oversees the preparation of various reports summarizing the financial, operating and capital, leasing and marketing activity for each property for internal and external distribution.
• Reviews, approves and monitors all financial information including operating and capital budgets, reforecasts, monthly financial statements, and the results of leasing and construction activities.
• Reviews, approves and helps oversee CAM estimate and CAM reconciliation processes.
• Monitors the financial performance of vendors who have a direct impact on operating expenses (such as parking operators, food and beverage operators, and fitness operators) and ensure they remain in-line with expectations.
• Ensures accounts receivable are collected timely and ensures the Property Management teams are promptly addressing delinquencies or concerns.
• Collaborates with Finance and Asset Management to meet BioMed Realty and Blackstone reporting needs.
• Helps ensure adherence to CC&Rs, Leases and lender requirements to avoid penalties and defaults.

Performance Improvement:

• Identifies and implements opportunities in the portfolio to maximize value and enhance the performance of the properties.
• Oversees and participates in the development and implementation of detailed value added strategies to maximize net operating income, distributable cash flow, appraised value and market value.

Acquisitions and Dispositions:

• Has key involvement in due diligence process for new acquisitions and dispositions.
• Interfaces with Acquisitions Management team in planning portfolio growth opportunities.
• Participates in due diligence for pending acquisitions including lease abstract reviews, service contract reviews, tenant interviews, on-site physical asset reviews, financial reviews, development of pro-forma cash flow projections, market analysis, review of third-party environmental, engineering and appraisal reports.
• Participates in the technical review of assets, conducts inspections and walk-throughs, and provides comprehensive and detailed assessment of asset--existing conditions and required improvements.
• Helps define site and building requirements for current or potential tenants.

Administration:

• Supervises Property Management staff performance
• Recommends performance standards, training and performance development, compensation and job-level changes and evaluates actual performance of staff.
• Supervises Property Management staff in creating effective communications and collaboration with other company departments.
• Participates in development of and changes to process and supervises implementation of agreed policies and standard operating procedures within the Operations group.
• Maintain compliance with all company policies and procedures.
• Ensures insurance claims, legal matters and other operational claims are properly documented and addressed.
• Perform related duties as assigned by supervisor.

Job Specifications

• BA/BS in business, economics, or related field required.
• Minimum of 12-15 years of progressive real estate asset management experience.
• Experience in a management position with life science and/or laboratory facilities properties highly preferred.
• Must have experience managing multiple teams and ability to coach team members and provide constructive feedback as necessary.
• Exceptional organizational and prioritization skills.
• Proven track record of success in real estate operations management, tenant and vendor relations, property and building maintenance, planning and budgeting.
• Experience should also include performing due diligence in the sale or acquisition process.
• Requires in-depth knowledge of financial terms and principles and the ability to forecast and prepare budgets and reports summarizing the financial, operating, capital, leasing and vacancy performance data.
• Must be able to develop and maintain effective working relationships with regulatory agencies, vendors, contractors and tenants.
• Requires a working knowledge of lease administration, conceptual understanding of real estate law and the ability to accurately interpret terms and conditions of contracts, proposals, and leases and interface effectively with tenants and vendors to facilitate conformance, schedules, improvements and operational efficiencies.
• Requires senior-level negotiation, interpersonal and communication skills and the ability to collaborate with senior management.
• Ability to convey technical information orally and in writing in a clear and concise manner.
• Ability to take detailed notes and to write effective communications to tenants, vendors, suppliers, and contracted firms.
• Ability to prepare reports and presentations and to present alternative solutions, cost/benefit analyses and recommendations.
• Ability to communicate effectively with internal company staff and external constituents of the company.
• Computer literate including proficiency with Excel, Word, Outlook and MRI.
• Must be organized, task and detail-oriented, and able to work in a fast-paced, team-oriented environment with multiple deadlines.
• Must be able to adapt readily to competing priorities.

Other: 

Ability to safely and successfully perform the essential job functions, including meeting qualitative and/or quantitative productivity standards. Ability to maintain regular, punctual attendance. While performing the duties of this job, the employee is frequently required to sit, talk and hear. The employee is frequently required to travel to property locations, construction sites, gain access to inspect construction progress, building utilities and infrastructure.  Will be required to wear safety equipment on construction sites.  Required to walk on uneven surfaces, use hands to write and type data, operate business machines, dial the telephone and reach with hands and arms.  The employee must frequently lift and/or move 10-15lbs. and occasionally lift and/or move up to 20lbs.

Salary Range: $178,500 – $225,750 per year + bonus + long term incentive + benefits

The above represents the expected salary range for this job requisition. Ultimately, in determining pay, we’ll consider location, experience, and other job-related factors.

Benefits 

At BioMed Realty, we make sure you have the support and resources to leverage and develop your skills, secure your financial future, and take care of your health and well-being.  BioMed Realty continually seeks to provide a workplace where everyone can be their authentic self. Through BioMed Realty’s competitive benefits offerings and various training and development opportunities, we have you covered with our Benefits Program which includes:

• Employer-Paid Medical, Dental, and Vision Insurance
• Paid Time Off and Paid Family Leave Benefits
• 401(k) Retirement Savings Plan
• Tuition Reimbursement
• Flexible Spending Accounts
• Commuter Benefits
• Lifestyle Spending Account
• Pet Insurance
• ID Theft Insurance
• Legal Insurance
• Employee Assistance Program
• 100% Employer-Paid Life & AD&D Insurance, Short and Long Term Disability