Reporting to the Senior Director, REAS Portfolio Management, the Director, Real Estate Services will assist the current Director, Real Estate Services with the management of the USPI real estate portfolio. This individual will be responsible for a designated Region within the USPI portfolio and will be integral in developing and executing real estate transactions (renewals, lease assignments, new lease and Denovo acquisitions, etc.), ensuring cost-effective real estate solutions, and contributing to the company's overall growth and success.
Responsibilities include but not limited to:
- Manage the USPI real estate portfolio, including lease negotiations, acquisitions, dispositions, and property management.
- Manage legal review and approval of documents required for transaction and other portfolio management projects.
- Direct service provider negotiations of lease agreements and contracts with landlords, tenants, and service providers.
- Assist with USPI Real Estate Committee preparation and documentation.
- Advise USPI Operations management on real estate strategy.
- Manage real estate budgets, financial forecasting, and cost control measures to maximize operational efficiency.
- Monitor real estate market trends, evaluate potential investment opportunities, and provide recommendations.
- Ensure compliance with all relevant real estate laws, regulations, and corporate policies.
- Collaborate with cross-functional teams to support USPI's real estate needs.
- Partner with the Corporate Development team in supporting the implementation of strategic transactions for the USPI portfolio, including:
- Individual MOB asset or portfolio monetization’s.
- Ambulatory surgery centers, DeNovo, acquisitions, and portfolios.
- Strategic Asset acquisitions – land, buildings, hospitals.
- Support the Capital Allocation Committee process to ensure funding for asset investments and tenant improvements.
- Manage the necessary business plan and financial pro forma updates required.
- Participate in the monthly USPI real estate committee meetings with Executives, Market leadership and business unit leaders.
Requirements:
- Bachelor’s degree in business, real estate, or finance.
- Ability to work in the office four (4) days a week and work from home one (1) day a week.
- Significant portfolio and transaction management, with at least 10 years of experience working with large-scale healthcare and/or life science real estate portfolios that include both income and expense assets.
- Significant knowledge in the administration of healthcare compliance programs with detailed knowledge of Stark & Anti-Kickback, and referral source relationships.
- Computer literate with strong Microsoft and project software suite skills.
- Demonstrated expertise in strategic real estate planning and portfolio management.
- Strong negotiation and contract management skills.
- In-depth knowledge of real estate market trends, financial analysis, and legal aspects.
- Excellent leadership and team management abilities.
- Exceptional communication and interpersonal skills.
- Proficiency in web based real estate software platforms and financial modeling.
- Excellent written, verbal communication and interpersonal skills with the ability to work effectively at all levels of the organization.
- Strong communicator with polish, savvy and poise and proven Board-facing experience.
- Ability to make quality, independent decisions; based on strong analytical and problem-solving skills.
- Ability to travel nationally up to 15% required. The selected candidate will be required to pass Motor Vehicle Record check.
Preferred:
- A valid real estate license or real estate coursework via CoreNet, CCIM, etc.
Tenet Healthcare complies with federal, state, and/or local laws regarding mandatory vaccination of its workforce. If you are offered this position and must be vaccinated under any applicable law, you will be required to show proof of full vaccination or obtain an approval of a religious or medical exemption prior to your start date. If you receive an exemption from the vaccination requirement, you will be required to submit to regular testing in accordance with the law.
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In conjunction with the Senior Director, REAS Portfolio Leadership, the Director, REAS Employed Physician Group will be responsible for developing and implementing the optimized network of TPR real estate that will enable operations in each market. The Director will develop the TPR portfolio through direct action in analytics, strategy development, leasing, managing transactions; and by engaging/leveraging the processes, procedures, and resources of the real estate administration program. Working with the Sr. Director the Director will lead the TPR optimization effort, aligning with the overall enterprise network optimization to ensure a highly utilized portfolio. He/she will work
through our outsourced CBRE real estate administration services to engage transactions management, brokerage support, lease administration and financial accounting. This nationally distributed portfolio will require the development of key stakeholder relationships/partnerships in each TPR operating market and the development of core operating policies and processes that will be administered with the TPR leadership team through the real estate committee structure. The Director will be the key leader of the TPR real estate committee to ensure structured decision making and alignment with annual business plans for each market and the business unit.
Other responsibilities include the following:
· With the Senior Director, REAS Portfolio Leadership, and key stakeholders develop a strategic portfolio plan for the TPR portfolio that will incorporate any owned buildings, master leased buildings, income leases, and the overall expense lease portfolio.
o Integrate business unit strategic and growth plans (driven by recruitment)
o Incorporate the optimization action plans
o Define the portfolio capital plans associated with tenant improvements and overages
· Develop a team structure that integrates Tenet corporate resources, TPR corporate resources, market teams (Tenet and TPR), and CBRE team members both on account and consultants.
· Leadership of the TPR real estate committee using the real estate management platform, implementing the portfolio optimization tools and action plans, lease administration reports.
o Ensure the use of deal memos by all stakeholders
o Provide approval recommendations
o Signoff on all TI capital requests prior to formal submittal for approval
· In partnership with the Compliance and Legal teams integrate Tenet’s industry leading compliance program into all aspect of the TPR real estate administration program.
o Ensure proper training of all stakeholders
o Integrate compliance requirements into all processes and procedures; Stark & Anti-Kick Back, FMV Analysis, Referral Source Relationships
· Administration of the structured real estate administration processes and procedures to enable the creation of the optimal portfolio to serve each market. Including: Lease administration, Tenant representation, Transaction management, Leasing/site selection, Property level accounting
· Administer the TPR portfolio in a manner that aligns with the target operational metrics: utilization, SF per exam room, cost per exam room, cost per provider. This supports both financially sustainability and profitability
· Provide leadership for the TPR transactions program focused on renewals, utilization, optimization, disposition, and consolidation during acquisition.
· Partner with the TPR leadership team supporting the growth strategy involving practice acquisition, new market growth, consolidations, and physician employment models.
· With the Senior Director, REAS Portfolio Leadership, and TPR CFO develop an annual and multi-year plan for real estate capital expenditures focused on tenant improvements and overages.
· Support the Capital Allocation Committee process to ensure funding for tenant improvements and overages that exceed capital approval thresholds.
· Lead the annual update for the TPR Real Estate Administration playbooks, templates and a tool kit, introduce the program and train the use with (new) key business unit stakeholders. Lead adherence through real estate committee leadership
· Participate in the quarterly real estate status meetings with Executives, Market leadership and business unit leaders.
· Portfolio and management experience of at least 5 to 10 years, working with large-scale, complex networks that include multiple markets
· Experience in administering healthcare compliance programs with knowledge of Stark & Anti Kickback, and referral source relationships
· Experience with large scale employed physician groups
· Computer literate with strong Microsoft and project software suite skills.
· Demonstrated experience in working with high performing diverse stakeholders
· Experience in strategizing, creating and implementing a multi-year strategic network plans
· Ability to assess current assets and leases to determine highest and best uses as well as creative alternatives.
· Experience with managing the dispute resolution process with both tenants and landlords
· Strong management skills within a multifaceted and complex organization with a diverse set of perspectives.
· Knowledge of organizational structure, workflow, and operating, customer service standards, and equal opportunity and affirmative action.
· Good organization skills with the ability to prioritize workload and successfully manage all financial activities.
· Strong analytical skills and demonstrated management capabilities are required.
· A cooperative approach to problem solving with the capability of building consensus and support, working across functional lines to engage disparate resources to work together to achieve desired results.
Professional Attributes
· Ability to effectively manage conflicting demands for internal resources and leverage those resources through external partnerships.
· Excellent written, verbal communication and interpersonal skills with the ability to work effectively at all levels of the organization.
· Strong communicator with polish, savvy and poise
· Ability to make quality, independent decisions; based on strong analytical problem-solving skills.
· Strong service management and customer service focus.
· Able to effectively present information and respond to questions from hospital and regional management.
Personal Attributes
· An individual of highest personal and professional integrity, principle and knowledge, earning respect and support when making difficult decisions and choices.
· A high-energy individual with a strong work ethic and high expectations for performance. A person who leads by example; and sets strong professional and personal standards for every activity.
· A self-directed person with a strong sense of urgency; however, someone who understands the importance of collegiality, cooperation and team spirit.
Education/Certifications
A Bachelor’s degree in Business or a relevant field is required. A Master’s degree in Business Administration or Law degree is considered beneficial.
Compensation
A competitive compensation program will be tailored to the selected candidate. Base salary will be supplemented by a performance bonus and comprehensive, well-rounded benefits program, which includes relocation assistance.
Travel
Approximately 50 percent.
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