Job Description
The Senior Lease Administrator is responsible for resolving all real estate operational issues for Navy Federal's existing and growing portfolio of Branches, Remote ATMs, and field offices. The Senior Real Estate Administrator, in conjunction with the Lease Administrators, will be responsible for: 1) drafting, negotiating, and managing critical lease, license, and operating agreement documentation, 2) providing accurate interpretation and management of lease, license, and operating agreement documentation, 3) performing substantive research related to NFCU leases to maximize tenant rights and ensure compliance with landlord and tenant obligations, 4) management of all lease, license, operating agreement documentation in the real estate information system, and 5) providing support for real estate purchase and dispositions. The position will provide BOFM's reporting and support on real estate matters effecting the existing and expanding branch, remote ATM, and office network throughout the World, including on DoD installations.
Responsibilities
Lease Abstraction and Lease Data
Responsible for the abstraction and set up of all lease documents (new leases, amendments, terminations, assignments, subleases, etc.) and other real estate agreements in FinQuery, Tango, FM Systems or other real estate system, over 500 properties.
Review and interpret legal terminology and lease clauses for all Branch Operations stakeholders consulting with General Counsel as necessary
Calculate and enter necessary billing adjustments for rent, rent increases, CAM, taxes, insurance, and any other landlord pass-throughs as well as Tenant Improvement credits and other abatements.
Maintain all relevant lease information including key dates, rent, critical lease provisions.
Serve as advisor to Lease Administrators on interpretation and applicability of lease provisions.
Lease Renewals
Negotiate lease amendments/renewals for branch, ATM, and small office properties
Process internal Notice of Intent to Renew approvals with Branch Operations stakeholders and Procurement
Solicit, gather, and report Branch Operations stakeholder feedback on the viability of renewing branch, remote ATM, and small office leases for quarterly leadership meetings
Real Estate Reporting
Maintain Real Estate Plan document and distribute to BOD Stakeholders on a weekly basis
Solicit, gather, and review BOFM project information
Maintain project cost center information
Update and distribute Site Acquisition Report with Real Estate project manager input
Coordinate quarterly 5300 reporting of outstanding lease obligations to NCUA
Document meeting minutes for Branch Operations' Long Range Plan meetings
Gather and distribute ad hoc real estate reports
Lease & Sale Agreement Document Processing
Route Lease memos for internal approvals
Coordinate real estate contract execution (lease, sale agreements, etc.) with Procurement, including providing all supporting documentation necessary for execution.
Review purchase Closing statements for accuracy with Real Estate Project Manager and General Counsel
FinQuery or other Real Estate Systems
Responsible for entry and maintenance of lease data in FinQuery and other real estate management systems
Maintain all reporting from FinQuery including working with vendor to refine report queries and formats
Conduct periodic audits of FinQuery to ensure team compliance with FinQuery data integrity process
DoD Agreements
Prepare draft proposal letters for branch, remote ATM, and small office space on military installations located in CONUS/OCONUS
Negotiate License and Operating Agreements with DoD representatives
Serve as primary Navy Federal real estate contact for DoD representatives including installation command, CULOs, NAVFAC, Army Corps of Engineers, and others
Estoppels and SNDAs
Review landlord requests for Estoppels and SNDAs
Conduct diligence review to verify 100% accuracy of lease information on Estoppels and SNDAs ensuring timely compliance with lease obligations
Manage Acquisition Team Vendors
Oversee Lease Administrators or directly manage the relationship with one or more of the team vendors below:
Property Condition Assessments
Property Tax Valuation Disputes
Real Estate Information System
Maintain current CoStar agreement and allocation of team licenses
Brokers
Maintain current Tenant Representation and Listing agreements, and process renewals
Business Licenses
Process paperwork for new and renewal business licenses
Budget and process payment for all branch, ATM, small office business licenses
With a team of Lease Administrators, serve as branch, remote, ATM, and small office landlord's primary Navy Federal contact
Process and react to Legal Notices, coordinating with General Counsel
Oversee Lease Administrators in providing annual and event Certificate of Insurance documentation as well as ad hoc insurance requests
Independently interact with landlords on document discrepancies
Serve as Acquisition team lead in compiling and maintaining files and audit packages for Internal Audit/Branch Operations Operational Risk
Other projects as assigned
Qualifications
Advanced knowledge of real estate concepts, terms, and lease accounting
Excellent attention to detail
Ability to interpret complex commercial lease language
Extensive document drafting experience including redlining and comparison features
Ability to multi-task and prioritize assignments while delivering consistent, quality work product to property managers, brokers, attorneys, and clients
Experience using a lease administration database
Excellent computer skills with an understanding of spreadsheet, word processing, database software and the Internet
Advanced organizational skills
Advanced verbal and written communication skills
Excellent problem solving skills and the ability to resolve potential conflicts
Bachelor's Degree in Finance, Business, or Accounting or applicable experience
Desired Qualifications
Paralegal experience
Previous experience negotiating commercial real estate leases
Hours: Monday - Friday, 8:00AM - 4:30PM
Locations: 820 Follin Lane, Vienna, VA 22180 | 5510 Heritage Oaks Drive, Pensacola, FL 32526 | 141 Security Drive, Winchester, VA 22602 | 9999 Willow Creek Road, San Diego, CA 92131 | 295 Bendix Rd Suite 250, Virginia Beach, VA 23452 | 9001 Airport Freeway 9th Floor Suite 925, North Richland Hills, TX 76180 | 4 Concourse Pkwy, Suite #100 Sandy Springs, GA 30328| 11270 St Johns Industrial Parkway, South Jacksonville, FL 32246
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
Our approach to careers is simple yet powerful: Make our mission your passion.
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Equal Employment Opportunity: All qualified applicants will receive consideration for employment without regard to age, race, sex, color, religion, national origin, disability, veteran status, pregnancy, sexual orientation, genetic information, gender identity or any other basis protected by applicable law.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position.
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.