The Real Estate Portfolio Lead is responsible for managing and optimizing the Bank's real estate portfolio through asset management, transaction execution, financial analysis, and strategic planning. This role leads lease, acquisition, disposition, and portfolio initiatives while providing oversight of lease administration, lease accounting, and third-party service providers. The position partners closely with Facilities, Design & Construction, Legal, Finance, and business leaders to maximize portfolio performance, manage risk, and support the Bank's long-term real estate strategy.
Salary Range
The salary range for this position is $81,700/yr - $165,100/yr plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.
Duties and Responsibilities:
Portfolio & Asset Management
- Manage the Bank's leased and owned real estate portfolio.
- Monitor portfolio performance, lease obligations, operating costs, occupancy metrics, and market conditions.
- Track critical lease, property, and ownership dates and develop recommendations to support portfolio optimization.
- Manage relationships with landlords, tenants, brokers, governmental agencies, and external stakeholders.
- Oversee lease administration and lease accounting functions to ensure data accuracy, compliance, audit readiness, and effective reporting.
- Portfolio space management activities, including occupancy planning, utilization analysis, and workplace optimization initiatives.
- Manage property tax assessments and appeals in partnership with third-party consultants and internal stakeholders.
- Support management and disposition of OREO and other held-for-sale assets.
- Oversee property-related matters, including easements, encroachments, access agreements, deed restrictions, and other real estate rights and obligations.
Transactions, Acquisitions & Negotiations
- Lead lease, renewal, relocation, acquisition, disposition, and development transactions across the portfolio.
- Develop transaction strategies and buy-versus-lease analyses to support business and financial objectives.
- Coordinate due diligence, internal approvals, entitlements, and transaction documentation.
- Manage brokers, attorneys, appraisers, consultants, and other external service providers throughout transaction execution.
- Represent the Bank in negotiations with landlords, sellers, buyers, developers, governmental entities, and community stakeholders.
- Lead real estate acquisitions and dispositions, including financial evaluation, contract negotiation, due diligence, closing activities, and post-transaction integration.
- Manage municipal requests and approvals, including zoning matters, variances, permits, right-of-way issues, and other local government requirements that impact the portfolio.
Strategy & Leadership
- Support development and execution of corporate real estate, occupancy, and workplace strategies.
- Provide data-driven recommendations and insights to senior leadership regarding portfolio performance, risk management, and optimization opportunities.
- Assist with merger and acquisition real estate due diligence, integration planning, and portfolio rationalization efforts.
- Mentor team members and foster collaboration across Corporate Real Estate and partner functions.
- Provide oversight and strategic direction to lease administration, transaction management, tax appeal consultants, and other third-party service providers to ensure high-quality service delivery and alignment with organizational objectives.
Additional Success Measures
- Effective management of tax appeals, municipal approvals, and property-related obligations resulting in cost savings and risk mitigation.
- Accurate space management and occupancy reporting that supports business planning and workplace strategy.
- Successful execution of acquisitions, dispositions, easements, and other complex real estate transactions.
- Strong governance and administration of lease obligations, critical dates, and compliance requirements across the portfolio.
Knowledge & Technical Skills
- Strong understanding of commercial real estate principles, market dynamics, lease structures, and transaction processes.
- Knowledge of lease administration, lease accounting requirements, and real estate financial analysis.
- Ability to analyze financial statements, real estate valuations, occupancy costs, investment returns, and buy-versus-lease scenarios.
- Familiarity with zoning, land use regulations, municipal approval processes, property taxes, easements, deed restrictions, and related property rights issues.
- Proficiency in Microsoft Excel, PowerPoint, and real estate portfolio management systems.
- Working knowledge of lease accounting standards (ASC 842) preferred.
- Experience utilizing data analytics and reporting tools to support portfolio decision-making.
Leadership & Professional Skills
- Strong negotiation, relationship management, and influencing skills.
- Ability to communicate complex real estate concepts effectively to executive leadership and business partners.
- Proven ability to manage multiple projects and priorities in a fast-paced environment.
- Strong analytical, strategic thinking, and problem-solving capabilities.
- Demonstrated ability to lead cross-functional teams and build collaborative partnerships across business units.
- Excellent written and verbal communication skills with strong attention to detail.
Qualifications:
- 8+ years of progressive commercial real estate experience, including portfolio management, transactions, asset management, lease administration, or corporate real estate.
- Demonstrated experience managing a multi-site real estate portfolio consisting of leased and owned properties.
- Proven experience leading lease negotiations, acquisitions, dispositions, renewals, and complex real estate transactions.
- Experience supporting real estate aspects of mergers, acquisitions, consolidations, and portfolio optimization initiatives preferred.
- Experience working with financial institutions, corporate occupiers, or highly regulated environments preferred.
- Experience managing third-party brokers, consultants, attorneys, appraisers, and service providers.
Professional Designations (Preferred)
- Certified Commercial Investment Member (CCIM)
- Certified Corporate Real Estate Executive (MCR, SLCR, or CERC)
- Real Property Administrator (RPA)
- Certified Property Manager (CPM)
- Active real estate broker's license, where applicable
Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.
As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.
We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.
Our culture is firmly rooted in our core values.
We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.
We are Old National Bank. Join our team!
