Director, Real Estate Investments Blog Post

Kamehameha Schools offers a dynamic, innovative and collaborative work environment for growth-minded individuals who embrace culture and diversity. Deeply committed to shaping a thriving and vibrant future for Native Hawaiians, Kamehameha Schools aims at finding the right people for the right roles, who bring talent and passion to our mission. Our workforce is comprised of full- and part-time, on-call, and seasonal employees who work in various positions at locations across Hawaiʻi pae ʻāina (group of islands), including three K-12 campuses, 29 preschools, and other regional and support offices. Details below.

Kamehameha School’s Investment Management Group is looking for a Director of Real Estate Investment to join a newly formed team of real estate investment professionals responsible for managing and maximizing the economic value of a subset of the KS Endowment’s Hawai‘i commercial real estate assets, as well as sourcing and executing upon other direct real estate investment opportunities in the islands.

Our ideal candidate will have…

10+ years of real estate investment experience, including direct oversight of complex investment transactions.

Advanced acumen in real estate finance. (Advanced skills in Excel required. Argus experience is strongly preferred)

An entrepreneurial and intellectually curious mindset.

Real estate investment experience within Hawai’i a plus!

This position is based out of our Kaka’ako location.

Job Summary

The Director, Real Estate Investment (DRE) will be a senior member of a newly formed team of real estate investment professionals responsible for managing and maximizing the economic value of a subset of the KS Endowment’s Hawai‘i commercial real estate assets valued at ~$1.5 billion as well as sourcing and executing upon other direct real estate investment opportunities in the islands. The DRE will collaborate with the Managing Director, Real Estate Investment (MDRE) and other investment professionals within the Investment Management Group (IMG) to evaluate, develop, and execute strategic plans related to leasing and asset management, development / redevelopment, partnerships and joint ventures, GP / LP structures, and the purchase and sale of leases, assets, and portfolios.

Strategic Evaluation and Analysis

Lead the evaluation of potential dispositions, investments, or development / re-development opportunities.

Direct and conduct discounted cash flow and other valuation analyses, lease reviews, market analyses, and assessments of economic and demographic trends.

Implement strategies based on analysis of competition, counterparty issues, and alternative uses of capital to meet real estate, IMG, and KS goals.

Asset Management and Optimization

Advise on, develop and implement asset plans to preserve and optimize the value of the IMG Real Estate assets.

Oversee asset management, leasing, and other operational activities.

Develop annual budgets and forecasts for internal and external reporting.

Determine operational strategies and terms for these activities.

Identify and present growth opportunities for the Hawai‘i real estate business within IMG.

Advise on IMG’s non-Hawai‘i based real estate partnerships and investments.

Capital Finance and Transactions

Execute capital transactions under the direction of the MDRE.

Source, underwrite, develop partnerships for, structure, finance, and close transactions.

Team Leadership and Development

Manage junior members of the IMG team, including direct management and mentorship of dedicated real estate team members.

Indirectly manage cross-staffed members of the broader IMG financial assets team.

Collaboration and Relationship Management

Work closely with lawyers, appraisers, architects, planners, engineers, consultants, and other third-party service providers.

Develop and maintain relationships with the brokerage community, real estate owners, developers, and JV partners inside and outside Hawai‘i.

Collaborate with ʻĀina Pauahi as requested to capitalize on investment opportunities in other KS Hawai’i real estate that would merit additional capital investment.

Minimum Qualifications

Bachelor’s degree required; equivalent skills demonstrated through work experience required.

10+ years of real estate investment experience, including leading execution of complex sale, acquisition, partnership, and financing transactions.

Track record of negotiating, underwriting, and closing transactions across the real estate capital stack and risk spectrum, including opportunistic, value-add, and core profiles, as well as various forms of debt and equity.

Advanced financial modeling capabilities, including discounted cash flow and other valuation methods, partnership waterfalls, and various financing structures.

Advanced written and oral communication skills, including the drafting and presentation of offering and investment committee approval memoranda and similar materials.

Ability to manage multiple tasks and effectively meet deadlines.

Knowledge of relevant real estate data sources, including real estate investor and broker surveys, STAR reports, MLS databases, credit surveys, etc.

Team player with the ability to work independently and under pressure in an entrepreneurial environment.

Self-motivated, energetic, and positive attitude.

Preferred Qualifications

Experience working directly with limited partners and other capital providers.

Experience in managing and mentoring junior team members.

Argus expertise strongly preferred.

Established relationships with the brokerage community, real estate owners, developers, and JV partners inside and outside Hawai‘i.

Physical Requirements

Frequently sit, perform desk-based computer tasks and grasp light or fine manipulation, talk or hear.

Specific vision abilities required include close vision, peripheral vision and the ability to adjust focus.

Occasionally stand and / or walk, write by hand, and lift and / or carry, push and / or pull objects that weigh up to 10 pounds.

Rarely twist, bend, stoop, squat, kneel, crawl, climb, reach or work above shoulder, or grasp forcefully.

Working Conditions

Work is conducted in an office environment and may require work to be conducted in non-standard workplaces.

Work is typically conducted Monday through Friday at normal business hours, but evening and weekend hours are often required to meet goals and objectives.

Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please contact us at hr@ksbe.edu or 808-534-8040 if you require a reasonable accommodation to apply for a job or to perform your job.

Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.

Work Year

12

Pay Range

$243,300.00 – $403,900.00

Compensation and Benefits

Based on the compensation range provided below, salaries are commensurate with job-related experience, skills and competencies, education, internal equity, length of work year, and other organizational needs.

At Kamehameha Schools (KS), we recognize that compensation is just one facet of a fulfilling employment experience. Our commitment lies in fostering a positive work environment and equipping employees with the necessary resources to excel every day. Our Total Rewards Program embodies KS’s dedication to the physical, mental, and financial well-being of our employee ʻohana. Explore our comprehensive Benefits Summary for more information.

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