Associate Counsel & Transaction Manager

Associate Counsel & Transaction Manager

Background

Lotus Company is a venture capital and real estate development company with close to $1B of projects in the pipeline. We are seeking to grow our legal and transaction teams with the addition of an Associate Counsel & Transactions Manager (“ACTM”) who has general legal and transaction experience, ideally within a real estate firm.

The ideal candidate will be familiar with the real estate development and ownership process and have a passion for managing great places and actively contributing to the long-term ownership of quality assets.

Job Description

The ACTM acts on behalf of the owner as a legal advisor and transaction coordinator to ensure that the Company receives the best legal advice and effectively implements transactions using best practices.

The role of the ACTM requires a combination of financial and legal knowledge, communication abilities, and a strong understanding of real estate investment principles. This individual works to protect the owner's interests and facilitate the successful execution of real estate transactions.

This role will report to the President & COO and interact other senior team members in accounting, acquisitions, capital strategy, construction, development, and investor relations.

Responsibilities 

The Associate Counsel & Transaction Manager position includes the following responsibilities:

Associate Counsel:

• Advise and assist leadership, operating units, and outside counsel in determining appropriate structuring of real estate, financing, and construction or development-related transactions. Negotiate on an as-needed basis with clients, potential clients, and their legal counsel in connection with such transactions.
• Actively participate in complex or difficult transactions and work to creatively solve legal issues
• Support the Company’s knowledge of LIHTC and Affordable Housing requirements
• Examine and interpret documents, actions, statutes, decisions, and ordinances affecting, or potentially affecting, the Company
• Work with outside counsel and risk management to manage claims and litigation matters and recommend legal strategies in resolving disputes
• Manage Company trademark related matters
• Assist with due diligence and compliance matters as requested.
• Advise Company leadership and personnel on legal issues impacting their areas of responsibility, as needed or requested.
• Manage and evaluate outside counsel
• Advise the Company leadership on current developments in the law impacting Company operations.
• Assume responsibility for special projects as assigned.

Transaction Manager:

• Coordinate transaction related functions and requirements with internal and external stakeholders (Sellers/Lenders, Investors, Vendors, and internal departments)
• Manage loan and property closing transaction timelines and process with internal and external parties to ensure timely and accurate settlements
• Oversee Lotus Impact legal requirements
• Track all finance, refinance, acquisition and disposition transactions
• Complete validation and quality checks of required data reports, validation of data provided by third party reviewers, vendors, and sellers.
• Track and resolve title and legal exceptions
• Leads cross-functional teams to close new construction and permanent loans, land acquisitions, focusing on negotiating and solving key commercial, legal, and technical issues. 
• Track, coordinate and handle the timely ordering, receipt, review, delivery and approval of third-party reports, including appraisals, environmental reports, surveys, title commitments, searches, flood certificates, engineering reports, and seismic reports, involving internal and external parties when necessary.
• Obtain, review and coordinate lender approval of insurance carried by the borrower.
• Prepare estoppels, SNDAs, and lease abstracts, review estoppels
• Schedule and coordinate calls; draft and/or manage transaction submission and closing checklists to ensure all requirements are met timely as a condition to closing fundings and dispositions
• Maintain organized and accurate transaction and legal files, and upload to central document management system in a timely and organized fashion
• Assist with special projects on an as needed basis.

Required Experience

• Minimum of Two (2) years of relevant work experience with legal or real estate firm, preferably with exposure to real estate investment or development.  LIHTC / Affordable Housing exposure a plus. 
• Experience with loan financing and commercial Real estate transactions
• Proficiency with Microsoft Office products (Word, Excel, PowerPoint, Access Database),
• General legal documentation experience

Required Education

• Bachelor’s degree in accounting, business, or finance. Juris Doctor (JD) or working towards a Legal Degree (JD).  Admission to state bar a plus.

Compensation 

Job Type: Full-Time

Pay: DOE, with discretionary bonus and other incentive programs

Location:  215 S. State St., Floor 13, Salt Lake City, UT

Benefits

• Eligibility for Lotus Company’s employee benefit package including health, dental, and vision
• insurance, where eligibility begins 30 days after employment.
• Paid Time Off (PTO) – 10 Days as accrued throughout year.
• 10 Paid Holidays as detailed in Lotus Holiday Calendar.
• 401K enrollment (dollar-for-dollar match for the first 3% of salary differed and 50% contribution for the next 3% of salary deferment – with a minimum 6-month employment required prior to enrollment)
• Eligibility for discounted rental rates at Lotus-owned apartments