Contact: Rich Edwards, (512) 499-4363

Date: October 8, 2004

Executive Director of Real Estate Appointed for UT System

AUSTIN – Florence Mayne has been named executive director of real estate by Scott C. Kelley, executive vice chancellor of business affairs. The appointment is effective October 11.

“Florence has an extensive background in all areas related to real estate affairs and, I'm certain, will be an excellent leader for our Office of Real Estate,” said Executive Vice Chancellor Kelley.

Mayne, currently the assistant vice chancellor of administration for the University of Texas System, succeeds James Wilson, who is now campus director of real estate at the University of Texas at Austin.

The office manages 170 trust assets consisting of over 43,000 acres of land. Last year the transaction totals managed by the real estate office included $22,649,182 in campus acquisitions; $3,695,757 in trust assets sales and $2,921,030 in income received from trust asset leases. 

As executive director of real estate, Mayne will oversee the personnel and operations of the Office of Real Estate as it assists UT System academic and health institutions with the sale, acquisition, lease, development, and management of endowment, trust and campus real estate assets. Among other functions, Mayne and her team will be responsible for valuation analysis, negotiation, due diligence efforts and coordination of closing requirements of real estate transactions.

She has been with UT System for over 10 years and has held positions as the assistant to the executive vice chancellor for business affairs and as the section manager and attorney of the business law section within the Office of General Counsel.

Mayne received a doctorate of law degree, a master's degree in fine arts in administration, and a bachelor of music degree, all from the University of Texas at Austin. Writing on real estate and business law topics, her work has been published in several journals and newsletters.

The UT System has 15 campuses, including nine academic and six health institutions, and an annual operating budget of $8.5 billion (FY 2005). Student enrollment is projected to exceed 185,000 students in the 2004 academic year. The UT System confers one-third of the state's undergraduate degrees and educates three-fourths of the state's health care professionals annually. With more than 87,000 employees, the UT System is one of the largest employers in the state.