Manager, Commercial Lease/Portfolio Administration

Company: First Citizens Bank
Location: Wake Forest
Posted on: May 7, 2024

Job Description:

Overview: This position is responsible for team oversight to perform daily administration and management of the Bank's Corporate Real Estate (CRE) portfolio. Ensures accurate and timely performance of lease and fee simple property responsibilities to ensure stability and continuity of the CRE portfolio. Oversees vendor engagements and valuations of bank property. Manages acquisitions and dispositions in alignment with corporate strategies. Oversees lease and fee-simple contract negotiations, execution and performance. Manages effective resolution of easement and condemnations matters. Performs financial analyses and processing for real estate transactions, income and expenses. Manages timely database updates and accuracy. Performs budget forecasts and estimates and researches / reports on budget variances. Advises on lease and fee simple property entitlements, ad-hoc property matters and M&A initiatives. Implements and performs reporting routines on transactions, portfolio status, real estate expenses and operations. This is a hybrid role in Raleigh, NC with a 3 day in, 2 day out schedule. Responsibilities:

• Property Administration - Manages the daily administration of real estate interests and other real estate (ORE) non-Bank properties. Orders, collects, and monitors property acquisition due diligence items. Ensures documentation is recorded, and that property files are accurately maintained in the lease management system. Issues notices and requests related to real estate. Handles property owner's association duties.
• Portfolio Management - Manages lease performance including landlord and tenant lease responsibilities. Ensures data integrity in the portfolio management system. Assist with research and analysis on lease entitlements, ad-hoc property matters and M&A initiatives. Supports the review, referral, and tracking processes for broker assignments. Provides reports to management on portfolio status and profitability. Maintain Bank property insurance listing and valuation reporting.
• Property Finances - Tracks, pays and manages financial elements for Bank property, including related charges, tax appeals, and valuations. Investigates and reports on budget variances. Prepares analysis summaries for acquisitions and dispositions to ensure costs meet the contracted agreement. Support lease and purchase agreement negotiations.
• Business Support - Supports internal and external audits of CRE processes. Provides guidance on real estate-related matters such as tax appeals, title insurance, valuations, and property administration. Assists in the planning and execution of other department initiatives as needed. Qualifications: Bachelor's Degree and 6 years of experience in Real Estate Acquisition, Disposition, Lease Administration or Commercial Property Management.-OR-High School Diploma and 10 years of experience in Real Estate Acquisition, Disposition, Lease Administration or Commercial Property Management. Preferred Area of Study: Paralegal / Brokers License (inactive) Required Qualifications:
  • Corporate/Commercial Lease and Portfolio experience.
  • People management experience.
  • Have a sound understanding of complex real estate terms, financial and legal concepts.
  • Must possess a valid driver's license. Position requires occasional travel to other offices, customers, providers, etc.
  • Knowledge of MS office suite products with specific emphasis on MS Word, MS Excel, MS PowerPoint & MS Outlook.
  • Proactive, action oriented, and highly organized.
  • Proven critical thinking and problem-solving skills.
  • Relationship and partnership building skills.Preferred Qualifications:
    • Property Accounting experience preferred.
    • Background in Corporate/Commercial real estate audit preferred.

Keywords: First Citizens Bank, Raleigh , Manager, Commercial Lease/Portfolio Administration, Accounting, Auditing , Wake Forest, North Carolina