Director - Office of Real Estate

Treasury Services is a division of the Mayo Clinic Finance Department which reports to Mayos Chief Financial Officer and is charged with managing the investment portfolios of Mayo Clinic (including pension funds sponsored by Mayo) and conducting general treasury operations across the enterprise. Treasury operations include cash management custody and bank relations credit card oversight debt issuance and management defined benefit and defined contribution pension plan administration risk financing/selfinsurance and involvement in (noninvestment portfolio) enterprise real estate activities from a strategic and financial perspective. Current investment assets under management approximate $30 billion and Mayo Clinics Real Estate footprint includes 25 million square feet across medical administrative office hospitality and commercial space.

The primary role of the Director will be to support the efforts of the real estate office to identify organize and manage a portfolio of internal and external Real Estate opportunities and maximize return while minimizing risks for is achieved through creation of the Office of Real Estate within Treasury Services to complement and align with BOG/BOT initiatives and to serve as a resource to support leadership at all sites individually while centralizing opportunities collectively to leverage Mayo portfolio relationships and insights. In addition to Mayo administrative and medical leadership this role will seek to leverage the collective and collaborative efforts of five internal Mayo areas: Facilities Treasury Services Finance Legal and Site Management. As we enter the next stage of Bold. Forward. in Mayos growth and the balance between physical and remote site needs as well as new ways to work it will be valuable to have the Director focused on portfolio performance and transaction support in the Office of Real Estate. With leadership guidance this will allow the Senior Director and in turn Treasury Services to lead evaluation of the best land and real estate footprint for Mayo Clinic going forward.

The scope and activities of this area will include the following:

Real Estate Portfolio Inventory Execution and oversight of an Enterprise portfolio of Mayo Real Estate Land and Development this process to an integrated management of Mayo real estate inventory/oversight at the site and institutional level is prudent allows for improved review identification of risks and opportunity to apply best practices.

Asset Management Provide professional oversight of portfolio providing performance forecasts and generating guidance on market leasing terms while maintaining accurate electronic property files monitor A/R and operating variance reporting. Prepare hold/sell and other scenario analyses for properties and the portfolio as necessary. Collaborate with executive leadership to refine longterm investment strategies and risk management approaches. This may also include oversight and reporting on Treasury real estate investments whether direct or through thirdparty managers. Integration of principals trends and application of best practices to Mayo Real Estate will enhance performance.

Centralized Leasing Centralized and Streamlined Lease Negotiation and Management. Lease contracts can have longlasting benefits or challenges for Mayo and benefit from a combination of site initiative centralized review of term considerations and thirdparty perspective from Mayo Real Estate and financial partners. Centralized lease underwriting negotiation and oversight with final signoff by respective sites will lead to improved process structure consistency and continuity in Mayo lease negotiation and transaction management.

Strategic Performance Execute the Enterprisewide Strategy for Mayo Real Estate Lease and Land portfolios to maximize and streamline current and new Mayo opportunities. With different considerations risks and opportunities at each campus yet a centralized set of management and financial constraints the Director would lead with multiteam and Mayo leadership input the implementation of a coordinated strategy which considers Mayos ability to finance work with benefactors and plan for future needs that would benefit the institution. This could include the best financial structure to both finance and manage assets which could be integrated or separate.

Working Groups Support Treasury Services Enterprise Working Groups and Board of Trustees Investment Subcommittee for execution of Real Estate and Land Asset strategy.

Electronic Approval/Workflow Workflow and Working Group or Sub Committee Information and Decisions. A combination of electronic approval processes with appropriate oversight and signoff from multidisciplinary teams and shared prep work for either Working Group/Subcommittee or BOG materials quarterly/as needed.

Minimum Education and/or Experience Required:

For this role a focus on candidates with transactionand negotiationexperiencewithin a commercial real estate public or private real estate hedge fund or endowment/foundation setting quantitative abilities and excellent oral and written communication build and maintain a network of professional relationships within investmentand/or real estateindustry also important.

Additional Experience and/or Qualifications:

Preference for candidates with the following:

• Desire to participate in the development of an enterprisewide real estate office for Mayo which will work in a team environment to optimize Mayos current/future Real Estate footprint.
• 1020 years of public or private institutional real estate experience in roles with increasing seniority or leadership responsibility.
• Familiarity with and experience in healthcarerelated real estate.
• Experience in full cycle direct institutional level real estate transactions including opportunity identification and strategy diligence financial analysis negotiation and deal closing.
• Ability to work independently and as part of a team to set execute and accomplish objectives.

Licensure/Certification Required:

Undergraduate degree required; MBA CFA and/or CPA designation a plus.

Real Estate License current