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Real Estate Development Manager

Posting Details

Position Information

Job Title Real Estate Development Manager
Department V P for Investments/Treasurer
Full Time/Part Time Full-Time
Requisition Number S18236
Open Date 12/20/2017
Close Date
Salary Information

Salary Commensurate with Experience and Qualifications

Work Schedule

Monday through Friday, 8 a.m. to 5 p.m.

Benefits Eligible Yes
Eligible for Overtime No
Position Summary

The Rice University Endowment was $5.8 billion as of June 30, 2017. The Rice Endowment ranks in the top 20 endowments of private research universities (by market value) in the US. The endowment is critical to the university’s ability to achieve its goals. The annual distribution from the endowment funds nearly half of the university’s annual operating budget.

The Rice Management Company (RMC) was established October 1, 2009, as a division of Rice University. The goal of the RMC is to provide a stable source of funding for current university operations and to preserve and grow the purchasing power of the endowment to benefit future generations of students. The RMC is responsible for all endowment matters of the university including asset allocation, the selection and termination of investment managers and monitoring performance of the portfolio, and reporting to the Rice Management Company Board of Directors. The endowment primarily utilizes outside investment managers and invests globally across all asset classes.

Real Estate Development Manager would focus on directly held real estate investments. The primary role is creating and leading a new development and management business unit within the RMC’s real estate investment team. This business unit will drive development through partnerships with best-in-class developers and manage these partnerships and properties from construction through stabilization and long-term ownership.

The Manager must have significant real estate investment experience and a verifiable track record, excellent judgment, good written and communication skills, the ability to build strong relationships with service providers and business partners, attention to detail, the ability to work in teams, self-motivation, and a passion for real estate.

Education Required Bachelor's Degree
Concentration / Degree Type
Substitution for Education Requirement

Experience may not be substituted for the education requirement.

Education Preferred

Strongly prefer MBA or other advanced degree.

Experience Required 6 years
Type of Experience

Real estate development.

Substitution for Experience Requirement

Education may not be substituted for the experience requirement.

Experience Preferred
License/Certification Required
License/Certification Preferred
Skills Required

- Good written and oral communication skills.
- Strong work ethic and willingness to work until the task is completed successfully.
- Ability to work in a small team environment.
- High moral character.
- Expertise with computer programs, Excel, PowerPoint, Internet research.

Skills Preferred
Internal / External Contacts

Will work internally with RMC and other Rice constituents and externally with real estate professionals, service providers, consultants, and business partners.

Physical Demands

- Long periods of time working in front of a computer (up to 8 hours or more each day).
- Able to use stairs at office.

Working Conditions

- Office environment.
- Some weekends, travel, and evening work required.

Security Sensitive Yes
Special Instructions to Applicants
Quick Link for Posting

Job Duties

Job Duty Name
Description of Job Duty

Create Master Plans for Multi-Phase Developments
- Engage and manage team of consultants, design professionals, and 3rd party experts.
- Recommend final master plans to RMC leadership.

Drive Underwriting & Feasibility Analysis
- Prepare financial and feasibility analyses for RMC investment committee.
- Engage and manage service providers and/or consultants to assist underwriting.

Engage Development Partners
- Establish and manage process to select the most suitable development partners.
- Negotiate venture structures to achieve RMC’s goals (strategic, financial, and operational).

Development Execution & Project Management
- Lead teams of development partners and 3rd parties to execute premier mixed use developments.
- Represent RMC as a principal to assist community relations and entitlement processes.
- Lead budget preparation and performance tracking vs. goals.
- Oversee development as an informed LP (e.g., on-site inspections, construction draw process).

Manage Direct Assets
- Communicate regularly to RMC investment team via formal and informal progress reports .
- Recommend additional resources as needed to analyze, complete, and manage projects.
- Assist in the preparation of applicable materials for quarterly board meetings.

Percentage of Time 95
Job Duty Name
Description of Job Duty

- Complete other duties as assigned.

Percentage of Time 5

Applicant Documents

Required Documents
  1. Cover Letter
  2. Resume
Optional Documents

Supplemental Questions

Required fields are indicated with an asterisk (*).

  1. * Do you have a bachelor's degree?
    • Yes
    • No
  2. * Do you have six or more years of real estate development experience?
    • Yes
    • No