Leadership role
Director of Real Estate
Directs an organization's real estate, including property acquisition, development, leasing and capital projects.
Reporting and scope
Usually reports to the COO or CFO, and in housing developers to the Executive Director / CEO. Authority covers the organization's owned and leased property portfolio and any development pipeline.
Core responsibilities
- Finds, evaluates and negotiates property purchases, sales and leases
- Manages development projects with architects, contractors and public agencies
- Assembles financing from tax credits, public subsidies, bonds and capital campaign gifts
- Keeps regulated properties in compliance with funder and affordability rules
- Reports portfolio performance and project risk to the board or its real estate committee
- Oversees property managers, whether on staff or contracted
How it differs
The Director of Facilities keeps existing buildings running day to day, while the Director of Real Estate acquires, develops and disposes of property. The VP of Facilities is a more senior post that may hold both duties.
By organization size
In a small organization the role handles a lease or two and one capital project at a time. In affordable housing developers and large health or university systems it runs a deal team and a multi-site portfolio.
Filings from the last five years mapped to this role commonly report titles such as: Director of Real Estate; Director of Real Estate Development; Director of Capital Projects; Director of Real Estate DE; Real Estate Director; Director, Real Estate