Description:
The legal department supports all of Enterprise; however, this position will be primarily focused on supporting the Asset Resolution division of ECAM and Real Estate Equity Asset Management Team with the following areas of that business:The Asset Resolution Associate General Counsel will provide legal support focusing on resolving issues on troubled and REO low-income housing investments in coordination with our National Field Operations and Real Estate Equity teams. The principal goal is to maintain the viability, quality and affordability of Enterprise investment in low-income housing properties. This position is hybrid and located in either the Columbia, Maryland or New York, New York.
Job Description:
Responsibilities:
- The Associate General Counsel will work with our business partners and legal team in connection with the following:
- Counsel Housing Credit Investments on Low Income Housing Tax Credit lower-tier Workouts and REO's;
- Counsel Real Estate Equity on lower-tier Workouts and REO's;
- Provide legal support, which includes advising on partnership agreements, resolving disputes with sponsors, reviewing loan documents, leases, easements and other real estate documents, and providing counsel on workouts and dispositions;
- Work with General Partner/Sponsors, funders and regulatory agencies to find solutions to on-going problems; solutions may include removal of property management firms, removal or replacement of General Partner entities; restructuring debt;
- Determine property capital and funding needs to ensure long term viability of the asset;
- Negotiate workout strategies with general partners, lenders, public sector entities and investors as appropriate;
- Interact with Enterprise staff to provide accurate and timely information;
- Conduct legal research on various issues, as needed;
- Occasional travel.
Qualifications:
- Undergraduate degree and J.D. or LL.M. required;
- A minimum of five years of real estate transactional experience in-house or with a law firm required;
- Admitted to practice law and in good standing in one of the 50 states;
- Experience with low-income housing tax credits preferred;
- Experience with debt restructuring and/or workouts preferred;
- Experience with bankruptcies and receiverships preferred;
- Experience in drafting and negotiating loan documents;
- Experience in drafting and negotiating partnership and operating agreements;
- Strong critical thinking and analytical skills, including ability to define problems and strategize solutions while considering legal issues and risks;
- Ability to think and communicate clearly and calmly in high-stress, high-risk situations;
- Excellent written and verbal communication skills;
- Ability to develop personal relationships with co-workers and clients;
- and
- Ability to work with multiple clients and establish priorities and desire to work in a team environment.
