What are the responsibilities and job description for the Real Estate Transaction Manager position at Virginia Commonwealth University Health Systems?
Essential Job Statements
Lease Portfolio Management:Oversees a comprehensive real estate portfolio including acute care, ambulatory, and administrative spaces to ensure alignment with organizational goals.
Regulatory Compliance:Maintains strict adherence to lease terms and healthcare-specific regulations, includingStark LawandAnti-Kickback Statutes, to mitigate legal and financial risk.
Acquisition & Dispositions:Participates in the end-to-end process for new lease acquisitions, land purchases, and property dispositions. This includes identifying opportunities, conducting market research, and executing the sale of non-core assets.
Comprehensive Due Diligence:Directs investigative efforts for potential transactions, includingFair Market Value (FMV)assessments, environmental reviews, surveys, zoning analysis, and title encumbrances to ensure informed decision-making.
Contract Negotiation:Serves as the negotiator for leases, purchase and sale agreements (PSAs), and renewals, ensuring favorable terms that prioritize the health system's strategic and operational needs.
Financial Oversight:Collaborates with Finance teams to manageCAM (Common Area Maintenance)reconciliations, real estate tax payments, and long-term budget forecasting for both leased and owned assets.
Stakeholder & Vendor Liaison:Acts as the primary point of contact for landlords, developers, and internal stakeholders to resolve operational issues, including maintenance, casualty losses, and facility alterations.
Third-Party Oversight:Manages performance and enforces compliance for contracted building managers and third-party managed assets through routine inspections and site visits.
Audit & Risk Management:Coordinates internal and external real estate audits to identify vulnerabilities and implements corrective actions to safeguard health system assets.
Casualty Loss & Recovery Management:Directs the response to property damage events (fire, flood, etc.) by coordinating with landlords, risk management, and insurance adjusters to ensure timely restoration of healthcare operations.
Landlord Default Management:Identifies and manages instances of landlord non-performance or breach of contract. This includes issuing formal notices of default, overseeing the "self-help" remedy process if applicable, and collaborating with legal counsel to enforce lease obligations and recover associated costs.
Patient Population: N/A
Employment Qualifications
Required Education:
Bachelor's degree; 5 years total commensurateexperience considered in lieu of degree.
Preferred Education:
Bachelor's degree in Business Administration, Real Estate, or related field required; 10 years total commensurateexperience considered in lieu of degree.
Licensing/ Certification
Licensure/Certification Required:N/A
Licensure/Certification Preferred:CCIM, CPM
Minimum Qualifications
Years and Type of Required Experience:
Five years of progressively more responsibility in real estate portfolio management in the healthcare industry necessary.
Other Knowledge, Skills and Abilities Required:
Comprehensive understanding ofStark Law, theAnti-Kickback Statute (AKS), andFair Market Value (FMV)standards as they apply to medical office buildings and clinical space.
In-depth familiarity withzoning ordinances, municipal approval processes,permitting, and environmental regulations (e.g., Phase I/II ESAs) necessary for land development.
Deep expertise in the end-to-endacquisition and disposition process, including title examination, surveys, easements, andPurchase and Sale Agreements (PSAs).
Proven ability to leadmultidisciplinary due diligence teams-including legal counsel, engineers, and architects-to meet strict closing deadlines.
Skilled inhigh-level negotiationsfor complex land deals, ground leases, and tenant improvements while maintaining professional stakeholder relationships.
Demonstrated ability to identifyregulatory "red flags"in lease structures and property ownership to ensure all transactions remain "commercially reasonable."
Experiencecollaborating with city planners or government officials to secure project approvals and entitlements.
Deep understanding oflease indemnity, insurance requirements, and casualty provisionsto determine financial responsibility and abatement rights following a loss.
Expert understanding oflease enforcement mechanisms, includingdefault notification requirements, cure periods, and the rights of a tenant to offset rent or terminate for cause.
Competency in using industry-standard tools (e.g., CoStar, GIS mapping) to performcomparable market analysisand justify site selection for new healthcare facilities.
Working Conditions
Periods of high stress and fluctuating workloads may occur.
General office environment.
Required to car travel to off-site locations, occasionally in adverse weather conditions.
May have periods of constant interruptions.
Prolonged periods of working alone.
Physical Requirements
Physical Demands: Lifting/ Carrying (0-50 lbs.), Stoop, Kneel
Work Position: Sitting, Walking, Standing
Additional Physical Requirements/ Hazards
Physical Requirements: Reach above shoulder, Repetitive arm/hand movements
Hazards: N/A
Compensation Range
$83,096.00 - $128,772.80Actual salary offers will be based on several key factors to include relevant work experience, credentials, and qualifications.
EEO Employer/Disabled/Protected Veteran
VCU Health System Authority (VCU Health) complies with applicable civil rights laws and does not discriminate on the basis of race, sex, color, national origin, religion, sexual orientation, gender identity or expression, age, political affiliation, disabilities, marital status, veteran status, residence, financial status, or any other manner prohibited by law.
Salary : $83,096 - $128,773