Senior Director of Real Estate Asset Management

Massachusetts Bay Transportation Authority•Boston, MA

2d•Onsite

About The Position

The Senior Director of Real Estate Asset Management oversees and manages the MBTA’s leased property portfolio to ensure real estate strategies effectively support operational needs, long-term asset performance, and capital management objectives. The role provides comprehensive oversight, coordination, and support for MBTA-owned assets within South Station, North Station, and Back Bay terminals, ensuring leased spaces and terminal facilities are maintained to MBTA standards through ongoing engagement with the master tenant and MBTA Capital Delivery, Facilities, Finance, and Real Estate teams. This position also ensures compliance with lease obligations, maintenance requirements, and capital planning expectations while safeguarding the condition, reliability, and long-term performance of MBTA assets. In addition, the Senior Director identifies and advances opportunities to strengthen the MBTA’s real estate portfolio through targeted acquisitions, dispositions, consolidations, and asset improvements. The role also supports broader MBTA real estate and TOD initiatives by evaluating how each asset can better serve operational needs, systemwide planning goals, and the customer experience.

Requirements

Bachelor’s degree from an accredited institution in real estate, urban planning and/or development, economics, business, architecture, public administration, or a related field.
Ten (10) years of experience progressively responsible experience in real estate asset or portfolio management, including oversight of leased commercial or institutional properties, facilities management coordination, capital planning and lease administration.
Experience evaluating and advancing real estate opportunities for large or complex real estate assets and familiarity with the real estate development life cycle (planning, design, financing, construction.)
Seven (7) years of experience in supervisory, managerial, and/or leadership.
Demonstrated experience evaluating and negotiating complex real estate business deals and managing long-term capital or operational needs across multiple properties and high profile properties.
Working knowledge of finance and budgeting.
Excellent oral and written communication skills including presentation skills.
Proficient use of Word, Access, Excel, and PowerPoint.
The ability to handle sensitive and confidential information in an appropriate manner.
Excellent customer service, interpersonal, presentation and conflict resolution skills.
Strong ability to work independently and manage multiple priorities in a fast-paced environment.
Excellent consulting, influencing and communication skills.
Strong attention to detail required.
A high school diploma or GED with an additional seven (7) years of directly related experience substitutes for the bachelor’s degree requirement.
An associate’s degree from an accredited institution and an additional three (3) years of directly related experience substitutes for the bachelor’s degree requirement.
A master’s degree in a related subject substitutes for two (2) years of general experience.
A nationally recognized certification, or statewide/professional certification in a related field substitutes for one (1) year of experience.

Nice To Haves

Master’s degree from an accredited institution in real estate, urban planning and/or development, economics, business finance, engineering, architecture, public administration, or a related field.
Public sector experience and knowledge of state processes.
Senior management experience in a large organization.
Experience with real estate-related database, property management, and GIS software.
Knowledge of real estate regulations of government and public agencies, such as Federal Transit Administration (FTA) and Federal Railroad Administration (FRA).

Responsibilities

Serve as the primary Real Estate Department liaison for planning, developing, and implementing third-party leased facilities and projects, and act as the MBTA’s owner representative for tenant improvements and capital work.
Manage and oversee all third-party leased and managed MBTA assets, including facilities management, deferred maintenance, capital planning, and compliance with laws, codes, safety standards, and lease requirements.
Identify, assess, and resolve lease and capital needs/deficiencies across master-leased and third-party managed properties, and develop coordinated recommendations for improvements.
Collaborate with Stations and Facilities, Capital Delivery, Engineering, Planning, and Asset Management teams to ensure efficient use of MBTA assets and maintain all facilities in a state of good repair.
Lead scoping activities and feasibility analyses for near- and long-term MBTA facility needs, evaluating operational requirements, budgets, schedules, and strategic alternatives such as Capital Improvement Process (CIP), public-private partnerships, acquisitions, leases, consolidations, redevelopments, or redeployments.
Oversee routine maintenance (inc. preventative maintenance) budgets, tracking and short- and long-term capital planning for leased and managed properties.
Manage preparation of surveys and plans, site identification, design reviews, and responses to RFIs and RFPs for MBTA property.
Identify and evaluate property or facility alternatives to support MBTA operations and capital project delivery, and execute strategies for real estate development.
Provide guidance and technical expertise on reliability, modernization, and expansion initiatives involving MBTA facilities.
Lead cross-departmental coordination efforts with internal teams, external stakeholders, and partner agencies to advance facility and asset initiatives, and communicate program and project priorities.
Provide strategic recommendations to executive leadership on asset optimization, facility utilization, redevelopment opportunities, and systemwide real estate priorities.
Contribute to long-range real estate strategic planning, working with senior Real Estate leadership to align operational, financial, and development priorities and optimize asset allocation and utilization.
Assist with property valuations, lease searches, and lease negotiations as needed.
Oversee SOPs, emergency management procedures, and life-safety plans for facilities under third-party management.
Perform all other duties and projects that may be assigned.
Additional responsibilities may include focus on one or more departments or locations. See applicable addendum for department or location specific functions.
This department is anticipated to grow, and this role may evolve to include supervisory responsibilities for overseeing expanded due diligence of the MBTA’s real estate assets.
The incumbent is expected to develop, mentor, and train assigned staff.