Director of Center Expansion - Real Estate

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Job description

ORGANIZATION BACKGROUND

Our Client is a tech-enabled senior primary care provider headquartered in Miami, FL with ~26 full service medical centers that provide care to 66k+ patients, of which 26K+ are in Medicare Advantage value-based risk sharing contracts. The Company employs a proprietary tech platform that was developed in-house, CareOptimize, that provides data, analytics and rules-based decision tools/workflows that empower care teams to customize high touch care plans for every patient.

The current US healthcare system is broken with roughly 20% of GDP being spent on care and health outcomes lagging behind many comparable countries. A core driver of this dynamic is the systems current focus on fee-for-service healthcare where financial payments are based on volume of services provided. This results in a focus on treating people when they're sick rather than investing in keeping them healthy. Value-based risk models turn this model upside down by aligning provider payments with preventative care.

Our Client has built their entire business model around delivering high quality value-based care to the populations that are typically amongst the most expensive to care for and most in need of preventative care - seniors and low income individuals in medically underserved communicates.

Our Client's clinics are membership based and patients are able to get primary care services as well as a variety of specialty (i.e., optometry, dental, cardiology, etc.) and wellness services all in one place. Our Client also addresses social barriers to healthcare access and wellness by providing transportation for many of their patients and meals to those in need.

It is widely agreed that value-based primary care models are the best way to lower healthcare spend. With the recent IPO of Oak Street Health, a Chicago-based group that employs a similar model as Our Client, investors have become more aware of the benefits of value-based care and a number of regional groups have received significant capital investments with goals of national expansion (addressable market of $300BN+, currently only 2% of patients in value-based primary care models).

Our Client was one of the largest primary care investments of 2020 and came to be as the result of a SPAC affiliated with a leading healthcare investment firm, Deerfield, merging two large groups in S Florida. The combined listed on the NASDAQ exchange in June 2021 and currently has an $900M+ market cap with over $230M of cash on the balance sheet to fund an aggressive growth strategy focused on M&A and de novo expansion.

The Opportunity

The Director of Center Expansion will lead the Real Estate leasing function and manage the existing lease portfolio. He/she will aggressively drive the short-term business goals alongside long-term strategic objectives.

The individual will lead and support all leasing for Real Estate-related aspects of the Company's growth strategy and he/she will be responsible for a broad range of initiatives related to the acquisition of new facilities.

Key Responsibilities and Duties

• Responsibilities will include managing the new deal pipeline regarding the acquisition of new locations.
• The Director of Center Expansion will lead all activities related to market planning, footprint strategy, the negotiation of leases.
• The business is growing rapidly, and it will be vital that this individual be a recognized business builder and that he/she is engaged and energized to lead in the identification and acquisition of new Real Estate locations for Our Client.

Strategic Oversight of the Real Estate Function

This individual will:

• Provide full end-to-end management of the Real Estate leasing function, including leading the site selection and negotiation of all lease and related document terms and conditions and the optimization of the lease portfolio. He/she will be a participant in the strategic market growth plan. It is essential that the qualified individual can manage a considerable pipeline of ~30 to ~40 new clinics per year.
• Ensure each site to be leased is visited by either himself/herself, a member of the real estate team, or a member of the market leadership team to verify that the site meets requirements.
• Provide weekly updates to corporate and market leadership on progress of each site, including tracking of portfolio to goal.
• Interface with the various real estate brokers and partners to report status and drive forward progress through the leading pipeline.
• Meet with market leaders on a regular cadence to determine gaps where additional in-fill and expansion centers may be needed.
• Partner with Finance Planning & Analysis and market leaders to underwrite each location.
• Partner with Finance on the Real Estate lease renewal process including balancing the lease portfolio, establishing a leasing strategy and managing all real estate transactions.
• Help senior leadership to develop an understanding of the markets, including the drivers of demands and the review of the lease portfolio. He/she will assist in the rebalancing of existing markets by looking at markets that Our Client is not covering, understanding OUR CLIENT's ability to take that share. He/she will support the research demand information and proactively direct management towards best potential new sites.
• Participate in the Real Estate Committee, which is comprised of senior leaders and responsible for authorizing the footprint plan, portfolio changes, de novo site selection, and underwriting.
• Participate in short and long-term planning for the Real Estate function including organizational structure, staffing/team building requirements and ongoing training.
• Recommend processes, tools and technology to continuously improve the Real Estate function.
• Mentor, inspire, and instruct members of our CLIENT Real Estate team and their colleagues as it relates to leasing and transactional matters.
• Act as key partner to the Corporate Office team on all real estate matters related to the leasing and acquisition of our CLIENT's facilities growth strategy.
• Partner closely with Legal, Operations, and the development/construction teams on the leasing and acquisitions aspect of Real Estate issues.

Professional Experience/Qualifications

• Our client is seeking a strategic and seasoned Real Estate leasing executive with significant deal experience.
• Experience in multi-location Real Estate leasing is required for a minimum of a 30 to 40 facilities per year.
• This individual must be a strong team player with a desire to drive best-in-class performance.

In addition, key attributes of a successful candidate will include the following:

• Highly organized and able to prioritize and manage time efficiently and the ability to work effectively in a fast-paced, deadline driven environment.
• A high level of accountability and an ability to effectively work with OUR CLIENT Senior Leadership team, landlords, leasing brokers, direct reports and peers.
• Willingness to work smart and hard in a challenging and fast paced/ dynamic environment.
• Ability to work independently and collaboratively as a trusted colleague.
• Ability to work under time constraints and multi-task so that deadlines can be met.
• Exceptional oral and written communication skills.

EDUCATION

A BA/BS degree is preferred

COMPENSATION

We are prepared to offer a market-competitive executive compensation package comprised of a base salary plus bonus and performance incentives.

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