Manager-Real Estate (Corporate Assets)

Position Description

The Real Estate Manager develops and implements strategies for all bank owned, leased and retail OREO properties. Strategies include long and short-term projections, presentations on alternatives, implementation plans and specific deliverables. The Real Estate Manager represents the bank in complex real estate transactions for corporate leased and owned non-IT physical assets, and oversees others in implementation of the same. In conjunction with the rest of the Corporate Assets team, recommends systems and strategies to improve workflow and cost efficiencies. Manages the maintenance of the information on all corporate real estate including contracts, estoppel certificates, etc. Demonstrates a breadth of knowledge of commercial real estate concepts and terms, particularly retail and office leases. Focuses on short and long-term strategies to maximize corporate and retail space and reduce occupancy expenses to align with the bank’s overall strategy. Oversees activities of other bank teammates, vendors and partners to execute these strategies.

Position Accountabilities

• Negotiates and executes complex leases, purchase and sales agreements for the Bank. Acts as lead with vendor partners on real estate transactions including property disposition, acquisition and changes to lease terms. Oversees other resources that execute plans created by this individual.
• Develops, decisions and executes strategies related to the owned real estate portfolio. This includes, but is not limited to, sales, sale/leasebacks, net-sale leasebacks and redevelopments.
• Manages the Bank’s non-loan related OREO portfolio in accordance with banking regulations, including partnering with accounting on evaluations, making recommendations and then executing on disposition and documenting annual appraisals and tracking expenses.
• Draft, review, and revise various types of transactional agreements in connection with real estate management including purchasing, selling, subleasing and leasing. Review, markup and prepare redline responses to counter-offers made by prospective tenants or landlords and their legal counsel. Partner with inside and outside counsel to finalize documents. One of eleven bank officers authorized to convey real estate by deed. Has $100,000 in contract purchase authority.
• Research and interpret lease language in consultation with Attorneys, and provide information and guidance related to real estate and leasing matters. Review and interpret lease terms from broker-provided deal spreadsheets and LOI’s prior to drafting lease agreements.
• Manage the overall control of original lease documentation and maintenance of master property files. Researches and implements systems to improve occupancy and space tracking as well as activity tracking. Maintain accurate systems on all properties capturing actual cost of entire property. Ensure data integrity.
• Partner with Business Units, Corporate Asset and Strategic Sourcing teammates on all acquisition and disposition of property - owned, leased as well as recommendations on standards.
• Partner with the Program Management Office to implement strategic space projects and to manage churn.
• Lead the property acquisition process to support all business units including site selection, due diligence, LOI and Purchase Contract documents preparation, negotiations, and purchase completion.
• Manage the Permissible Activities Property Evaluations, summarize results, and work with all Stakeholders to determine proper disposition at least annually. Communicate decisions to all affected parties in a timely manner. Manage the process for long-term implementation, maintaining documentation and communications with regulators.
• Active participant in Corporate Asset strategic planning. Participates in the creation of key performance measures and then monitors performance toward goals. Continuous monitoring, tracking and reporting critical dates. Establish and manage Service Level Agreement implementations.
• Manage all property relationships with real estate brokers, property managers, landlords and tenants, etc. to maintain positive and effective relationships. Represent the Corporate Asset team with landlords, utilities, government agencies, and other groups related to property issues.
• Manage all property and lease administration and tracking through CoStar, and other appropriate software systems. Ensure proper rent payments are made monthly or when due. Manage all CAM and other operating expenses, making sure reconciliations are accurate and payments are made in a timely manner. Provide budget information for rent and CAM and other building expenses. Partner with Consumer and other management on lease renewals in plenty of time to negotiate best terms for the bank.
• Provide guidance and leadership to others on the Corporate Assets team acting as a mentor to the Real Estate Admin. Analyst and others related to bank and real estate matters. Maintain and update policies and procedures at least annually.
• Provide regular reporting to Financial Accounting and others in Corporate Assets from CoStar and other sources to help in running the business.
• Active participant on merger and acquisition team for real estate related activities. This includes site visits, environmental studies, lease reviews, property valuations and real estate data migration.
• Other Duties as Assigned

Organizational Relationship

This position reports to the Director of Corporate Assets

Position Qualifications

Education & Experience

• Bachelor’s degree or Associate degree and related field or equivalent work experience.
• Minimum ten (10) years of experience in Commercial Real Estate including complex negotiations and understanding of lease terminology and best practices.

Knowledge & Skills

• Strong understanding of real estate terms, NPV and other valuations, analytics, and market trends. Excellent analytical skills and problem solving ability. Established relationship sint he Real Estate markets in which the bank operates.
• Big Picture thinking coupled with strong attention to detail. Ability to communicate very complex information in a consolidated and professional manner.
• Clear and concise verbal and written communication and excellent interpersonal skills.
• Exhibit and maintain good organizational skills and the ability to multi-task.
• Ability to perform work effectively and efficiently with little supervision.
• Strong computer skills, including proficiency in Microsoft Word, Excel, Project, Visio, and PowerPoint. Ability to quickly learn other software tools. Familiar with FM systems and Real Estate tracking systems.
• Candidate must be able to demonstrate professional integrity, attention to detail, and exercise good judgment in handling sensitive information. Previous experience negotiating commercial retail leases is a requirement.
• Demonstrates ability to work independently while having a strong commitment to team orientation
• Extensive document drafting experience, including redlining, and comparison feature, understands real estate legal terms and has a strong ability to negotiate in complex situations.
• Ability to handle a fast paced, deadline driven environment
• Ability to foster strong internal and external relationships
• Must be able to travel to sites across the bank’s footprint