Senior Director of Portfolio Strategy

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.).

• Portfolio Strategy:
  1. Lead MBTA real estate development negotiations, including complex joint-development, P3, and disposition transactions requiring financial modeling and risk evaluation.
  2. Conduct development feasibility analyses and highest-and-best-use evaluations for MBTA-owned parcels.
  3. Coordinate cross-functional planning across Operations, Planning, Legal, and external stakeholders to ensure development compatibility with MBTA operational and strategic requirements.
  4. Initiate and manage the structured canvassing review process for licenses, easements, acquisitions, and related property agreements.
  5. 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.
  6. 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.

• 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.

• 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.