Job Details

Post Date 7/14/2021
Title Senior Legal Counsel, Portfolio Acquisitions, UK
Employment Type Full Time
City London
State UK
Description

Realty Income Limited, a wholly owned subsidiary of Realty Income Corporation (NYSE: O), a publicly-traded real estate investment trust that owns over 6,500 properties.  Founded in 1969 and public since 1994, it is a standing member of the S&P 500 and the S&P 500 Divided Aristocrats index. 

 

As Realty Income’s Senior Legal Counsel, you will be the lead attorney on assigned transactions and collaborate with Portfolio Acquisitions in acquiring a variety of real estate assets. Your day to day may include but not limited to; bulk assets, international assets, and development projects, for the Company’s rapidly growing real estate portfolio. A track record in leadership will be crucial to your success as you will supervise Real Estate Paralegals and attorneys. Experience in working with external law firms, managing necessary legal services, and in conjunction with outside counsel and third-party service providers. You will also Collaborate with Company’s interdisciplinary team of professionals to devise an optimal acquisition approach and provide effective legal advice to the Company’s executives. Lastly, you will ensure internal and external compliance requirements for assigned transactions are achieved and address auditor inquiries as required.

 

 

Your Contribution to the Team Includes

 

Portfolio Acquisitions and Management:

  • Coordinate, analyze, manage, negotiate, document and close wide range of multifaceted acquisition transactions, including bulk asset acquisitions and a variety of transaction structures (e.g., asset, corporate, merger, etc.).
  • Coordinate with the Corporate Paralegal for assignment of real estate assets to Company subsidiary as necessary for acquisition transactions.
  • Supervise assigned Real Estate Paralegals and collaborate with interdisciplinary team to devise optimal approach in context of assigned transaction. 
  • Review, draft, negotiate and approve documents for a broad variety of real estate acquisitions e.g., confidentiality agreements, heads of terms, correspondence, sale and purchase agreements, escrow instructions, lease agreements, deeds of variations, reversionary leases, or other document abstracts, amendments, assignments, development agreements, certificates of title, TR1s, closing documents, business entity documents, transaction summaries, etc.
  • Attend director meetings with Crestbridge, coordinate execution of documents, and assist with entity management responsibilities.
  • Analyze transactions and structuring on transactions in the UK and other countries as necessary.
  • Review, evaluate and approve information and reports received in connection with complex acquisition transactions, e.g., title commitments and exception documents, plats, site plans, plans and specifications, surveys, environmental reports, engineering reports, construction monitoring reports, zoning reports, etc.
  • Review existing loan documents and negotiate lender consent documents in connection with the assumption of in-place loans encumbering real estate.
  • Supervise paralegals in coordinating escrow closings and post-closing matters.
  • Exercise creativity and resourcefulness in resolving legal matters effectively and efficiently.
  • Consult with the PA team on deal structure and strategic alternatives for acquisition of more complex opportunities.
  • Develop and make recommendations to Assistant General Counsel or General Counsel regarding improvements to internal policies and procedures for handling acquisition and development transactions.
  • Prepare extensive Excel abstract to advise PM and PA departments on a broad variety of current and potential management, financial and legal issues that may impact their respective scope of work for each real estate asset that is part of an assigned transaction.
  • Perform comprehensive accounting analysis of rent and prepare rent table for each real estate asset that is part of an assigned transaction, which is adopted by the PM and PA departments and submitted to outside auditing firms. 
  • Provide clarification on legal language or specifications to PA.
  • Research and evaluate different risk factors regarding business decisions and operations.
  • Apply effective risk management techniques and offer proactive advice on possible legal issues.
  • Communicate and negotiate with external parties (brokers, external counsel, third party vendors etc.), creating relationships of trust.
  • Provide professional legal counsel and advice to Company executives.
  • Assist in interviewing and hiring Legal personnel.

Development Properties:

  • Review and approve construction draw requests; assist in coordinating, processing and documenting same and closing projects out.

General:

  • Second-level review of attorney and paralegal work, as needed.
  • General legal research and investigation.
  • Routine advice/counsel to all departments on legal matters.
  • General legal document review, drafting and negotiating.
  • Special projects and duties as assigned.

SECONDARY DUTIES AND RESPONSIBILITIES (Various, as needed):

Portfolio Management (“PM”):

  • Handle wide range of routine-to-complex PM legal matters, e.g., draft/negotiate sale and purchase agreements, exchange documents, lease agreements, ground leases, confidentiality agreements, consents to sublease, lease assignments, collateral assignments/leasehold mortgages, alterations and improvements, landlord waivers/subordinations, license agreements, etc.
  • Negotiate and process condemnations, easements, rights of way, rights of entry and similar agreements affecting title to properties.
  • Review and interpret REA issues and other similar title documents.
  • Manage and monitor environmental issues.  Review and analyze environmental reports.  Draft/ negotiate environmental license agreements.
  • Consult with PM on deal structuring.
  • Consult with PM on lease compliance matters and interpretation of lease terms, conditions and issues.
  • Tenant Defaults and Workouts:
    • Participate in workouts, including direct communications and negotiations with tenants and counsel.
    • Draft and negotiate workout documents, e.g., letter agreements, lease amendments, lease terminations, etc., and manage the resulting transaction.
    • Retain and oversee local counsel as and when necessary.
  • Manage/oversee routine-to-complex litigation and retain/supervise outside legal counsel.
  • Manage/oversee property and liability insurance claims and related matters.
  • Handle miscellaneous title issues, including scheduled title reviews (i.e., ownership and encumbrance reports).

 

Confidentiality Agreements/Non-Disclosure Agreements:

  • Work with the acquisition department to coordinate the review and analysis of confidentiality/non-disclosure agreements on the front-end of potential acquisition targets.

 

Bankruptcies:

  • Oversee or assist with various tenant bankruptcies (including larger or more complex bankruptcies), including strategy, case management and interaction with outside counsel.

Corporate:

  • Handle miscellaneous and various corporate legal matters as necessary.
  • Handle shareholder issues as necessary.
Requirements

What You’ll Need to be Successful

  • A graduate diploma In law with proven academic success from an accredited law school, together with substantial experience in commercial real estate transaction law;
  • Completion of a legal practice course
  • Minimum of 6-12 years of on-point legal experience; and
  • Any combination of training, experience, skills and other characteristics that would provide the requisite knowledge and abilities in support of the essential job functions.

Certificates, licenses or registrations:

  • England and Wales – Solicitor
  • Proven experience as a legal counsel in business environment.
  • Highly effective written and verbal communication skills; ability to communicate complex ideas and issues clearly and concisely.
  • Ability to read, analyze and interpret a wide variety of -complex legal documents and agreements.
  • Excellent knowledge and understanding of real estate and corporate law.
  • Adept and proficient at advanced legal document drafting and negotiating.
  • Ability to effectively identify, research and analyze routine-to-complex legal issues, assess potential exposure, propose alternative courses of action and make well-reasoned recommendations.
  • Ability to exercise creativity and resourcefulness in problem solving and promote effective and efficient resolution of legal matters.
  • Ability to analyze complicated and complex legal matters and make well-reasoned judgments to minimize risk and add value to the Department and Company.
  • Ability to effectively manage time, handle multiple projects concurrently, work under pressure and meet deadlines.
  • Ability to establish and maintain effective working relationships, and to function effectively as part of a team.
  • Ability to actively listen to others, understand their position and respond appropriately.
  • Adaptability to diverse legal issues and areas of legal practice.
  • Highly proficient, effective; exceedingly professional.
  • Capacity to effectually lead, manage, counsel, develop, train and support Real Estate Paralegals in their positions and profession.

Realty Income is an Equal Opportunity Employer.  We celebrate diversity and are committed to creating an inclusive environment for all employees.  For more information click here.  If you require accessibility support to submit your application or other reasonable accommodations to participate in the recruitment process, please contact hr@realtyincome.com, or call 800-375-6700.  An employee will respond to your message to begin the interactive process. Please note that this phone number and email address are only for individuals seeking a disability accommodation when applying for a job.

To all recruitment agencies; Realty Income does not accept unsolicited agency resumes. Please do not forward resumes to our job’s alias, Realty Income employees, or any company location. Realty Income is not responsible for any fees related to unsolicited resumes.

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