boston planning & development agency

REAL ESTATE DEVELOPMENT OFFICER - LEASING DIVISION

Posted Date 09/08/2020
Job ID
2020-1522
Category
Real Estate Leasing
Grade Level
K
# of Hours
35
Salary Range
$78,100 - $95,500

Summary

Boston Planning & Development Agency

 

**BOSTON RESIDENCY IS A CONDITION OF EMPLOYMENT**

                                                                                                                       

TITLE:      REAL ESTATE DEVELOPMENT OFFICER (LEASING DIVISION)

 

STATUS:   EXEMPT      

 

GRADE:    K

 

DEPARTMENT/DIVISION: REAL ESTATE/LEASING

 

ORGANIZATION OVERVIEW:

The BPDA plans and guides inclusive growth in our city - creating opportunities for everyone to live, work and connect. Through our future-focused, city-wide lens, we engage communities, implement new solutions, partner for greater impact, and track progress. In Boston, achieving citywide resilience means addressing racial equity along with the physical, environmental, and economic growth to ensure that opportunities are accessible to everyone in our City.  Today, the BPDA uses our citywide master plan, Imagine Boston 2030, as a framework to support equity by creating affordable housing, good jobs, and open space in every neighborhood, leveraging funding from large real estate development to support workforce development and training, supporting equitable procurement policies and requiring diversity criteria for developing publicly-owned land.

 

POSITION OVERVIEW:

Under the direct supervision of the Deputy Director for Commercial Leasing, and in close collaboration with the Finance and Legal divisions, the Real Estate Development Officer is responsible for managing efforts to lease BPDA owned land and buildings.  In addition, the Real Estate Development Officer is also responsible for developing and managing systems to track portfolio wide leasing performance including project status tracking and revenue performance.  

 

The Real Estate Division at the BPDA is responsible for managing a portfolio of over 13 million square feet of land across Boston neighborhoods including signature properties such as the Charlestown Navy Yard, Long Wharf, the Raymond L. Flynn Marine Park as well as significant neighborhood based holdings across Boston.  As a collaborative member of the Real Estate team, the Real Estate Development Officer will focus on ensuring the BPDA’s Real Estate portfolio supports the Agency’s economic development and financial objectives.

 

ROLES & RESPONSIBILITIES:

 

Property Level Lease Management

  • Authors term sheets and negotiates terms with potential tenants
  • Authors Requests For Proposals (RFPs) and other technical documents to solicit development interest and guide the award of development rights through the BPDA board
  • Applies Massachusetts General Laws Chapter 30B to the property disposition and leasing process as necessary
  • Orders and interprets appraisals of BPDA property as needed
  • Markets opportunities to lease BPDA property 
  • Closely tracks the real estate market in Boston and applies this knowledge to advise strategic decision making and appropriately value BPDA property
  • Works closely with the BPDA’s Disposition team to establish appropriate land lease payments for properties going into development
  • Identifies and pursues opportunities to use leases and lease negotiations to advance community priorities
  • Participates in tenant meetings, abutter meetings, or community meetings as necessary
  • Prioritizes diversity, equity, and inclusion in BPDA property leases

Portfolio Level Lease Management

  • Maintains systems to prioritize and track the status of all lease negotiations on BPDA property
  • Evaluates potential revenue from current and future leases and produces analytical tools to evaluate the long-term potential financial impacts of lease decisions
  • Works closely with Finance Division to monitor collection of rent payments
  • Produces data driven dashboards on lease portfolio performance including revenue projections based on real estate market evidence
  • Works with Legal and Finance Divisions to develop and implement standard terms across leases of similar asset classes
  • Understands the full value of each BPDA property and ensures that the benefits of development accrue to the Agency and to the people of Boston and do not unreasonable enrich private interests
  • Ensures that today’s development deals on BPDA property protect the long term fiscal health of the Agency

Financial Modeling 

  • Creates detailed financial models to evaluate potential development scenarios on BPDA property
  • Creates discounted cash flow analysis to evaluate the financial impacts of various potential lease revenue streams
  • Analyzes the financial submissions of developers competing to develop BPDA property and provides recommendations on the relative strengths, weaknesses and overall feasibility of proposed projects 

 

In addition to the tasks above, may perform other duties as assigned to advance the objectives of the BPDA Real Estate Department.  

 

MINIMUM QUALIFICATIONS

 

  • Bachelor's degree in Business Administration, Real Estate, Public Administration, or related field / Master’s degree preferred
  • Minimum of 5 years progressive experience with complex and large real estate leasing negotiations and transactions
  • Excellent negotiation skills required
  • Financial proficiency in analyzing existing and potential real estate transactions regarding market trends and forecasting
  • Understanding of Massachusetts General Law Chapter 30B governing the disposition of public real estate
  • Strong financial modeling skills and the demonstrated ability to build accurate conceptual real estate development pro-formas
  • Experience with real estate transactions exceeding $10 million strongly preferred
  • Excellent oral, written, and interpersonal communication skills
  • Self-motivated team player that is curious and able lead cross functional groups through complex work
  • Detailed oriented project management skills
  • Strong critical thinking to continuously review internal policies and procedures in order to improve upon and standardize processes
  • Values-driven leader that priorities diversity, inclusivity, and public good
  • Must exercise discretion and sound judgment and be capable of handling confidential and highly sensitive information with professionalism and unquestionable integrity

 

PHYSICAL REQUIREMENTS & WORK ENVIRONMENT

  • Normal office environment; site visit expectations
  • Community engagement and travel

 

** BOSTON RESIDENCY IS A CONDITION OF EMPLOYMENT**

 

 

 

 

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