Managing Director of Real Estate & Commercial
Job Description
Job Description
Virginia Tech Foundation, Inc. (VTF) is a nonstock corporation established in 1948 for the sole purpose of managing the endowment and real estate portfolio of Virginia Tech, now valued at $3.0 billion. VTF exists and operates as a separate, independent entity with its own officers and governing board – managing, investing, and distributing private resources to advance Virginia Tech’s mission and its strategic priorities.
VTF’s wholly owned business subsidiary, Virginia Tech Corporate Research Center, is a business park and operation for commercializing Virginia Tech research and programming. The Foundation manages a real estate portfolio consisting of 2.6M square feet of buildings and 3,100 acres of real estate that generates more than $53.6M in annual revenues. More than 1.2M of that square footage is in the Virginia Tech Corporate Research Center in Blacksburg, Virginia. The Virginia Tech Corporate Research Center is home to 230 tenants and 3,500 employees. Other major holdings are located around the Commonwealth of Virginia, including Alexandria, Arlington, and the university’s educational site in Riva San Vitale, Switzerland.
Position Summary:
Reporting to the Chief Executive Officer, this position will be responsible for soliciting and pursuing development opportunities, partnerships and strategic positioning of the VTF’s real estate assets to achieve mission related and financial goals of the Foundation and the University.
Role & Responsibilities:
Strategic Leadership and Portfolio Optimization:
Lead the master planning, development, and repositioning of Foundation and Corporate Research Center assets into higher and better uses, aligning with long-term organizational goals. Develop and execute strategies for portfolio optimization, including acquisitions, liquidations, redevelopment, and strategic movement into new markets and property types. Identify, evaluate, and pursue opportunities to optimize the real estate portfolio, increase revenues, and elevate the Foundation’s assets through innovative development and negotiation.
Deal Making and Negotiation:
Serve as the chief negotiator for acquisitions, joint ventures, and development partnerships, ensuring favorable terms and alignment with Foundation objectives. Drive the redevelopment of mixed-use centers and commercial properties, leveraging market trends and data-informed insights to maximize value. Oversee the acquisition and liquidation of major donated assets, ensuring optimal and timely dispositions to generate income for University programs.
Innovations and Partnerships Collaboration:
Champion the creation and expansion of innovation clusters within the Corporate Research Center.
Pursue public-private partnership (P3) opportunities and scale up technology transfer initiatives to support research commercialization and tenant engagement.
Collaborate with the Innovations and Partnerships team to position the Corporate Research Center as a dynamic hub for research, entrepreneurship, and industry collaboration.
Advisory and Governance:
Advise the CEO, Foundation Board, and VTCRC Board on major planning, development, and investment decisions, providing expert guidance and strategic recommendations. Participate in the internal Real Estate Investment Committee to evaluate, approve, and oversee viable development opportunities and new ventures. Prepare and present comprehensive market analyses, investment proposals, and strategic plans to senior leadership and governing boards.
Financial Impact and Performance:
Grow portfolio value through targeted acquisitions, redevelopment, and new ventures, optimizing the value of held real estate assets. Solicit, evaluate, and pursue other commercial opportunities that align with the Foundation’s mission and financial objectives. Monitor financial performance of investment decisions, develop budgets, and implement strategies to maximize returns and ensure the sustainability of real estate investments.
Collaboration and Stakeholder Engagement:
Build and maintain strong relationships with internal and external stakeholders, including University partners, tenants, vendors, and community leaders. Advise and collaborate with the CFO, VTCRC President, Chief Transformation Officer, and other key executives to ensure alignment of real estate strategies with organizational priorities. Represent the Foundation in negotiations, public forums, and industry events, promoting its interests and enhancing its reputation.
Organizational Leadership:
Lead, supervise, and develop a high-performing team of in-house asset managers and third-party property managers, fostering a collaborative and results-oriented culture. Promote operational excellence, innovation, and continuous improvement across all aspects of real estate development and management. Ensure compliance with regulatory standards, safety protocols, and best practices in property management and development.
Qualifications:
Required:
- A bachelor’s degree in a related field
- 10 or more years of experience in real estate and commercial development or related functions
- Commitment to integrity
- High level of personal and organizational excellence
Preferred:
- Master’s degree in a related field
- Experience with planning and development of mixed-use commercial districts, experience with retail development, experience in financial analysis and evaluation
Physical Requirements:
Light lifting (<20 lbs.)
Standing
Sitting
Bending
Moderate lifting (20-50 lbs.)
Lifting
Walking
Climbing
Heavy lifting (>50 lbs.)
Reaching
Repetitive motion
Pushing/pulling
Other, specify: