Vice President, Real Estate Development & Acquisition

Job title: Vice President, Real Estate Development & Acquisition

Company: Presbyterian Homes & Services

Job description: ResponsibilitiesThe VP of Real Estate leads new investments, acquisitions, dispositions, project development, asset management, and special projects—ensuring alignment with PHS’s mission, values, and long-term growth strategy. This leader collaborates closely with senior leadership, operational teams, and external partners to drive sustainable growth in target markets while optimizing the organization’s real estate portfolio. Additionally, this role works in partnership with operations and environmental services leadership to deliver a best-in-class real estate experience that meets the evolving needs of residents and the organization.Responsibilities include but are not limited to:

• Oversee the financial performance (P&L responsibility) of Senior Housing Partners, ensuring that this real estate division remains financially accretive to the organization through the successful generation of acquisition and development fees.
• Develop and execute strategic growth initiatives to expand the organization’s presence in target markets across the country, identifying opportunities for acquisition, development, and partnership.
• Generate or supervise the completion of detailed quantitative analysis including financial analysis and underwriting, financial statement/valuation analysis as well as debt sizing for varied capitalization scenarios.
• Oversees all aspects of the real estate division. Leads and directs the work of Senior Housing Partners team members in achieving organizational goals and priorities related to real estate investment activities, including but not limited to the following:
• Investments, Acquisitions, & Dispositions:

• Proactively source senior living acquisition targets by building relationships with brokers, developers, and potential sellers across target markets.
• Evaluate and prioritize potential acquisitions against PHS’s strategic and financial goals, mission alignment, and long-term portfolio objectives.
• Oversee comprehensive underwriting for all acquisitions, including financial modeling, market feasibility analysis, and risk assessment to ensure an informed investment decision.
• Lead capitalization efforts by determining the optimal capital stack (debt, equity, philanthropic components, etc.) that maximizes returns and aligns with mission-based objectives.
• Collaborate with the CFO to structure debt and equity for new acquisitions, ensuring responsible leverage and favorable financing terms.
• Negotiate financing agreements with banks, private lenders, and other financial institutions, aligning each transaction with PHS’s core values and financial targets.
• Oversee the due diligence and closing process, coordinating with legal teams, counsel, and operational leadership to ensure seamless integration into PHS’s portfolio.
• Maintain a deal pipeline database, tracking all leads, prospects, and ongoing negotiations to ensure transparency and strategic alignment.
• Prepare and deliver comprehensive board presentations, including investment rationale, underwriting data, risk analysis, and projected mission impact.
• Facilitate board approvals and any required committee reviews, ensuring that all stakeholders have accurate information to make mission-critical decisions.
• New Project Development:

• Lead the Development team on the planning and execution of new Senior Living projects that prioritize PHS’s commitment to creating welcoming, safe, and enriching environments. PHS develops projects including active adult/55+, independent living, assisted living, memory care, skilled nursing,
• Assist in the collaboration with architects, contractors, and project managers to design communities that reflect PHS’s values of hospitality, compassion, and service excellence as needed.
• Ensure projects are delivered on time, within budget, and meet the unique needs of older adults, including accessibility, safety, and quality of life considerations.
• Oversee zoning, permitting, and regulatory processes, fostering positive relationships with municipalities and agencies to ensure compliance and alignment with community standards as needed.
• Support the development needs of third-party non-profit clients across the country (typically 3-5 projects at a time).
• Asset Management of Non-Senior Living Assets (Retail, Raw Land, Etc):

• Lead the asset management strategy for non-senior living assets to ensure PHS properties remain financially sustainable, operationally efficient, and reflective of PHS’s high standards for quality.
• Develop and implement asset management plans that include capital improvements, lease management, and property optimization to benefit residents and enhance their living experience.
• Regularly assess property performance and financial health, identifying areas for improvement to ensure properties remain vibrant, welcoming, and mission-aligned.
• Work with property management and facilities teams to ensure the highest standards of maintenance, safety, and resident satisfaction, embodying PHS’s values of stewardship and respect.
• Create long-term capital plans for assets to safeguard and enhance property value, ensuring resources are used effectively and responsibly.
• Financial Planning & Strategy:

• Develop and manage the real estate division’s budget, ensuring fiscal responsibility and alignment with PHS’s mission of stewardship and service.
• Create and maintain financial models to assess investment performance, financing options, and risk management, emphasizing responsible financial practices.
• Present real estate performance and investment strategies to executive leadership and the Board, articulating how each strategy aligns with PHS’s commitment to serving older adults.
• Collaborate with the CFO and finance team to secure mission-aligned financing and optimize financial structures to support sustainable growth.

QualificationsBachelor’s degree required; MBA or master’s degree in related field (Real estate, business, finance, or similar) or JD preferred.15+ years of progressive experience in real estate acquisitions, capital markets, or development within mixed-use, multifamily, or commercial real estate, with a demonstrated history of sourcing, underwriting, and closing transactions in the $20M–$150M range required. Senior housing experience strongly preferred.Ability to travel 20% or more as required to ensure success of projects.Proven ability to lead and develop cross-functional teams, fostering a culture of compassion, collaboration, and shared mission.Expert-level proficiency in financial modeling, underwriting, budgeting, and ROI analysis, including structuring complex, multi-layered capital stacks. Highly proficient in Excel, reading and interpreting financial statements, and conducting rigorous due diligence.Extensive experience in overseeing complex real estate projects, demonstrating a commitment to delivering results that enhance the lives of older adults.Superior time management skills; ability to meet deadlines on time. Ability to prioritize tasks, work on multiple engagements and manage rapidly changing assignments in a team environment. Proven success in leading cross-functional integration of acquired properties—ensuring operational, cultural, and financial alignment with organizational objectives.Understanding of the unique needs of senior living environments, with a commitment to values-based decision-making that aligns with PHS’s mission and vision.Familiarity with regulatory standards affecting real estate development and asset management in senior living, including accessibility, safety, and zoning regulations.High standards in negotiation, communication, and relationship-building, demonstrating integrity and respect for all stakeholders.Strong analytical and critical thinking skills, able to evaluate complex data with a focus on maximizing mission-driven impact.Strong sense of self-initiative and readily able to work with limited direction.Pay RangeThe estimated starting pay range for this role is $250,000- $325,000 per year. This good faith estimate is based upon PHS’s typical starting pay range for this role. Actual pay range depends on many factors including each individual employee’s qualifications and market conditions and is subject to change.BenefitsFull-time benefits-eligible employment begins at a minimum of 30 hours per week:

• Health, and dental, including applicable HSA & FSA
• Employer Contribution to HSA for eligible Health Plans
• Life insurance (AD&D)
• Retirement, with eligibility for an employer match
• Holiday pay and extended sick

Full and Part-time benefits-eligible employment working between 20-29 hours per week:

• Vision insurance
• Voluntary short-term & long-term disability
• Accident & hospitalization coverage
• Education assistance programs

All employees:

• Accrue PTO (Paid time off)
• Same-day pay
• Employee assistance program (EAP)
• College partnership educational discounts
• Access to Learn to Live Resources

About PHSBased in St. Paul, Minnesota–Presbyterian Homes & Services (PHS) is a nonprofit, faith-based organization providing a broad array of high-quality housing choices, care options and services for older adults. There are over 7,500 team members like you at PHS, serving more than 26,000 older adults through 60+ PHS-affiliated senior living communities in Minnesota, Iowa and Wisconsin, and through Optage® and other community services. PHS is also co-owner of Genevive®, the largest geriatric primary care practice in MN, providing comprehensive care for over 15,000 older adults.An Innovative Leader: Established in 1955, PHS has earned the reputation as an Innovative Leader dedicated to promoting independence, purposeful living, and overall well-being. PHS is now one of the largest nonprofit senior housing and services providers in the US.Our strong focus on our employees, means we are committed to an environment where you are valued and empowered to make a difference. With a strong commitment to team growth from within, roughly 80% of leadership roles are filled through the development of people like you. To learn more about PHS culture, benefits and team development, we invite you to visit the “Careers” section of our website.Let’s get you started.PHS is an EEO/AA employer. All applicants will receive consideration for employment regardless of their race, color, creed, religion, national origin, sex, sexual orientation, disability, age, marital status, or status with regard to public assistance.

Expected salary:

Location: Roseville, MN

Job date: Sun, 16 Mar 2025 04:13:39 GMT

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