REAL ESTATE OFFICER

Job Summary

The Real Estate Representative assists the Real Estate Manager and the Real Estate Director in all matters related to identification, research, and financial evaluation for potential sites for all First Bancorp properties in Puerto Rico, ECR and Florida Regions, leading to the preparation of site-specific business plans. Assists and supports the Real Estate Manager and the Real Estate Director in the preliminary preparation and negotiation agreements with developers and landlords to transform business plans into operating First Bancorp units. This work requires involvement in the preparation of market studies, cultivating relationships with local partners and developers, preparing business plan as and oversees continuity in the preparation of legal documentation with the business development department and internal/external counsel.

Essential Responsibilities

· Conducts preliminary negotiations with landlords of all FirstBank & its subsidiaries facilities to obtain the best terms & conditions needed for new/renewal lease agreements, closures, relocations, acquisitions, or dispositions of all FirstBanCorp properties in assigned Puerto Rico and Florida Regions including Automatic Teller Machines (“ATM’s”).

· Prepares all documentation required to obtain corporate approval for all negotiated deals, presents them to the Real Estate Manager and the Real Estate Director for their review and consent, for further submital to their respective business areas and the Expense Committee (if necessary).

· Reviews all lease agreements and submits comments or observations to the Real Estate Manager, or Real Estate Director. Refers to Legal Department reviewed legal documentation for Legal’s final review.

· Visits and inspects assigend facilities (including ATMs) in the Puerto Rico Region and prepares an inspection report for each facility inspected. Notifies General Services Department any observation.

· Receives, analyzes, evaluates, and refers to the Accounts Payable Department all invoices for rent, common expenses (“CAM”), taxes, and other payments.

· Responsible for the continuous update validation process of the lease and owned property database for all the new leases, renewals, expirations, or terminations dates in all FirstBank and subsidiaries in all Regions.

· Classifies and files all relevant documents for properties in the physical files and uploads electronic copies in Department’s Data Base program and in the Department electronic folder in the Bank’s servers.

· Assists fellow General Services Department coworkers in the coordination with all landlords for services required at each facility.

· Prepares annual budget of the Department to be reviewed by the Real Estate Manager and the Real Estate Director.

· Gathers market data to prepare trade area maps and site information useful to identify optimal markets and specific locations for FirstBank sites in Puerto Rico and minor assistance for the ECR and Florida regions, by working closely with market research providers and other local firms for the submittal of recommendations to the Real Estate Manager and the Real Estate Director.

· Cultivates and manages relationships with local and regional real estate developers, as well as the Real Estate Associations with the aim of forgoing relationships.

Other Responsibilities

· Assists management in special projects.

Independence of Judgment

Exercises medium degree of discretion and judgment. Job duties performed following previously agreed parameters always consulting supervisor on variances or situations where decision making is required as a result of changes in the intended program occur.

Supervisory Responsibilities

This position has no supervisory responsibilities.

Impact of Errors

The impact of errors of this position could affect essential activities of administrative, operational, or business nature that have a considerable economic impact.

Competencies

• · Basic Accounting knowledge
• · Knowledge of legal documents such as lease agreements, contracts, title studies, legal deeds and other.
• · Solid negotiation skills.
• · Strong analytical skills.
• · Teamwork oriented.
• · Effective interpersonal skills and ability to interact and team with a variety of internal and external customers with excellent interpersonal communication skills.
• Quality, accuracy, and thoroughness driven.
• Proficiency in Microsoft Office productivity applications (e.g., WORD, EXCEL, POWERPOINT).
• · Proficiency in oral and written communication in both English and Spanish.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Specific vision abilities required by this job include close vision and distance vision. While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand and walk.

Is exposed to external elements when visiting different property locations. Must be available for travel within Puerto Rico should it become necessary. Outside Puerto Rico may be necessary.

Minimum Requirements

A Bachelor’s Degree in Business Administration, Accounting, Finance preferable. Three to five years of experience in a similar job working with accounting, shopping centers management, or lease deals are required for this job.

EQUAL OPPORTUNITY EMPLOYER