Joan J. Millane, who has managed multimillion-dollar commercial real estate programs in public, private and university settings for 16 years, has been appointed the first executive director of real estate for the Johns Hopkins Institutions.
In this new position, she will be responsible for both sales and purchases of real estate, for leasing of office, research or other space, and for development of new real estate projects for The Johns Hopkins University and Johns Hopkins Health System. She will bring together previously separate real estate operations in the university and the institutions' Dome Real Estate subsidiary.
Millane comes to Johns Hopkins from the University of Maryland, College Park, where she has been assistant vice president for asset management since 1998. There, she engineered a public-private development deal to relieve a severe shortage of on-campus student housing. Under her leadership, the university, private developers and investors built a garden-apartment complex with room for 700 students and are building mid-rise apartments for 1,000 more. Millane describes the deal as a "win-win-win," with significant benefits for the students, the university and the private interests involved.
Previously, she managed two dozen real estate joint venture investments worth nearly $2 billion at the Carlyle Group in Washington, D.C., and created a real estate asset management program for the Resolution Trust Corp., an agency created to clean up the national saving and loan failure crisis. She began in real estate in 1984 managing commercial real estate sales for the Prudential Insurance Co.
Millane brings a broad mix of skills and experience to Johns Hopkins, said James T. McGill, senior vice president for finance and administration of the university, and Ronald Peterson, president of the Health System, who together announced the appointment.
"She's a proven deliverer of successful development projects, knows the development community well and knows how to operate in a university setting," McGill said. "Joanie is an excellent fit for Hopkins."
Millane is a graduate of Cornell University and earned a master's in business administration from the Wharton School at the University of Pennsylvania.
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