Senior Director of Portfolio Strategy

At the MBTA, we envision a thriving region enabled by a best-in-class transit system. Our mission is to serve the public by providing safe, reliable, and accessible transportation. MBTA’s Core Values are built around safety, service, equity, sustainability, and culture. Each employee that works for the MBTA performs their roles based on our vision, mission, and values. This includes attendance, participation, and contribution in local safety committee meetings as needed.

Job Summary

The Massachusetts Bay Transportation Authority is the second-largest landholder in the Commonwealth of Massachusetts, behind the Commonwealth itself. MBTA properties and assets primarily serve operational needs but are increasingly used for transit-oriented development. The Senior Director of Portfolio Strategy supports the management and development of MBTA real estate assets within commercial development. The Senior Director will identify MBTA real estate for potential development opportunities while ensuring the Authority’s operational needs are considered and met. The Senior Director will identify and manage opportunities to maximize non-fare revenue from its real estate assets. The Senior Director assists with the Authority’s real estate strategic planning, assessing the current portfolio’s utilization and highest-use requirements, including relocations, leasing, and acquisitions. In addition, the position will oversee master leases, third-party contracts, air rights, deeds, and other agreements. The Senior Director will work collaboratively with other state agencies to pursue the Governor's goals while ensuring the necessary asset capacity for all MBTA operations. The Senior Director also oversees the team responsible for acquiring property rights for MBTA service expansion (new facilities, new rail lines, new infrastructure for accessibility compliance, and new/expanded maintenance facilities, etc.).

Duties & Responsibilities

• Portfolio Strategy:
• Lead MBTA real estate development negotiations, including complex joint-development, P3, and disposition transactions requiring financial modeling and risk evaluation.
• Conduct development feasibility analyses and highest-and-best-use evaluations for MBTA-owned parcels.
• Coordinate cross-functional planning across Operations, Planning, Legal, and external stakeholders to ensure development compatibility with MBTA operational and strategic requirements.
• Initiate and manage the structured canvassing review process for licenses, easements, acquisitions, and related property agreements.
• Generate, analyze, and evaluate development proformas and other financial models to assess risk, identify opportunities, and guide decision making across the MBTA’s development pipeline.
• Develop strategic recommendations for long-term asset planning, including transit-oriented development opportunities and value-capture strategies (TIF/TOD), as well as multimodal integration.
• Identify MBTA real estate appropriate for development or outright sale by understanding the value of each location and the opportunities for growth that these sites create.
• Meet regularly with MBTA Department heads, Chief of Capital, and Chief of Stations and Facilities to coordinate real estate needs and provide analysis and input on real estate initiatives.
• Maintain current market knowledge and provide data-driven input to inform the strategic decisions and direction of the MBTA.
• Provide internal acquisition advisory services to Capital Delivery project teams, Railroad Operations teams, Safety, Systemwide Accessibility, and others.
• Develop and maintain adequate real estate assets to meet the MBTA’s operational goals. Generate and review all development proformas to identify risk profiles.
• Review requests for use of the MBTA’s property, negotiate and issue new leases, licenses, and easements pursuant to a canvassing review process.
• Manage real estate transactions, including deeds, leases, licenses, and easements.
• Manage the MBTA’s portfolio of leases, licenses, and management agreements for retail concessions, utilities, telecommunications, and land use, as well as the acquisition of new property.
• Develop and maintain adequate real estate assets and respective operating and capital expense budgets to meet the MBTA's operational goals.
• Conduct due diligence on properties identified by MBTA departments to meet operational and infrastructure goals.
• Negotiate leases, sales, and disposition on behalf of the Authority.
• Develop Requests for Proposals and Invitations to Bid for selected properties and facilities, as well as other documents, including leases, licenses, easements, and fee deeds.
• Work with the Capital Department project managers to review the impact of projects on MBTA real estate to support advertising of construction projects.
• Perform outreach to internal and external stakeholders and address concerns while providing a solution-based approach.
• Represent the Authority and Administration's goals to impacted communities, developers, brokers, and other interested parties.
• Conduct external engagement with the development community and municipal partners to maximize development potential.
• Perform all other duties and projects that may be assigned.
  
  
  

Minimum Requirements & Qualifications

• Bachelor’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.
• Ten (10) years of experience with real estate development life cycle, including planning, designing, financing, and construction.
• Seven (7) years of experience in supervisory, managerial, and/or leadership.
• Demonstrated experience evaluating and advancing development opportunities for large or complex real estate assets and conducting and presenting strategic portfolio analysis, asset utilization, and financial feasibility.
• Knowledge of real estate regulations of government and public agencies, such as Federal Transit Administration (FTA) and Federal Railroad Administration (FRA).
• Working knowledge of finance and budgeting.
• Demonstrated experience negotiating complex real estate-related business deals.
• 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.
  
  
  

Substitutions Include

• 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 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 experience.
• A nationally recognized certification, or statewide/professional certification in a related field substitutes for one year of experience.
  
  
  

Preferred Experience And Required Skills

• 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.
  
  
  

Job Conditions:

• Ability to effectively read, comprehend, communicate, and respond to instructions, orders, signs, notices, inquiries, etc. in English.
• Be at least eighteen (18) years of age, except if participating in an approved high school internship / co-op program.
• Ability to commute to assigned work locations in the Boston, MA metro area, as required by the role.
• Ability to provide internal and external customers with courteous and professional experiences.
• Ability to work effectively, independently, and as part of a diverse workforce team (or supervise, if required).
• Ability to uphold the rights and interests of the MBTA while building and maintaining effective relationships with employees and co-workers.
• Ability to adhere to rules, regulations, collective bargaining agreements (if applicable), and policies of the MBTA, including the EEO, anti-discrimination, anti-harassment, and anti-retaliation policies.
• Have a satisfactory work record for the two (2) years immediately prior to the closing date of this posting (unless if current student or recent graduate), including overall employment, job performance, discipline, and safety records (infractions and/or offenses occurring after the closing of the posting and before the filling of a vacancy may preclude a candidate from consideration for selection).
• Ability to pass a Criminal Offender Record Information (CORI) check, comprehensive background screening, and / or medical Clinic screening, potentially including physical examination and drug and alcohol screenings.
• Ability to work all shifts and / or locations assigned, directed, or necessary for this position, including (for some transit / operations roles) up to twenty-four (24) hours per day, seven (7) days per week as necessary to accommodate severe weather conditions, emergencies, or any other circumstances that may potentially impact service or the safety of service.
• Intern / co-op staff must be enrolled full or part-time in an accredited educational program and maintain a cumulative GPA of at least 2.5 for the entire duration of the internship / co-op. Additionally, interns / co-ops must have valid work authorization and U.S. Social Security Number prior to starting pre-employment screenings / pre-boarding, working in their positions, and throughout the duration of their program.
  
  
  

Disclaimers and Definitions:

• General Disclaimer: The statements contained in this job description are intended to describe a summary, general nature, and complexity of typical job functions and do not represent an exhaustive list of all duties, tasks, and responsibilities required of staff assigned to this position.
• Application Completion: It is each applicant’s responsibility to ensure application details are entered completely and correctly, including updated work and education histories (past and current). Incomplete applications may not be considered. Attachments do not substitute for application fields. The recruitment team does not have access to existing employee data / history.
• Application Deadlines: Applicants should apply as soon as possible, as the MBTA may stop considering applicants after a sufficiently large applicant pool is established.
• Work Environment: The physical demands and work environment characteristics described here-in are representative of those an employee may encounter while performing the essential functions of this job. Reasonable accommodations can be made to enable individuals with disabilities to perform essential functions. See job description for role-specific requirements.
• Work Eligibility: All employees must be legally authorized to work in the United States and on an unrestricted basis. The MBTA does not have an employer work sponsorship program. However, if you have unrestricted work authorization, or are sponsored by a separate entity, you are welcome to apply. Further, all persons hired will require a U.S. Social Security Number prior to starting the position and employees will be required to complete a Form I-9 to verify their identity and eligibility to work in the U.S.
• Interviews: Candidates should ensure they arrive on time, are prepared, can remain for the duration, and if remote, are in a quiet place without distraction, for the interview. Candidates who do not attend their interview without advance authorization, including an email confirmation of a rescheduled time/date from Human Resources, will be considered a no-show and disqualified from consideration for the position. Related to rescheduling, on a one-time basis, and due to something emergent, you may be allowed to reschedule the interview. In addition, Human Resources may require documentation supporting the request. However, should you need to reschedule, you will need to contact your Recruiter directly by email.
• Safety Sensitive Positions: Employees working in this classification will be subject to periodic physical examinations plus random drug and alcohol testing.
• On-call or 24/7 Positions: Employees working in this classification must be available to respond to page / text / call and report to work as determined by assigned department or the Authority.
• Essential / Emergency Staff: During declared "states of emergency," employees working in this classification are required to report to work for their assigned work hours or as directed by management.
• ADA Accommodations: The MBTA makes reasonable accommodations for applicants with disabilities. If you require an accommodation during this process, please contact the MBTA's ADA Unit at 617-222-5751 or hradaaa@mbta.com .
• Diversity, Equity, and Inclusion: The MBTA is an Equal Employment Opportunity Employer . For terms, descriptions, and definitions related to diversity, equity, inclusion, veteran status, and immediate family members that you may find on the application form, please visit mbta.com/careers-app-definitions .
• Intern / Co-Op Benefits: Employees taking part in an internship or co-op at the MBTA are eligible to receive accrued paid sick leave as well as a monthly transportation pass, based on the city from which the intern / co-op commutes to work, at no cost. However, no additional benefits are currently offered for interns or co-ops.