Senior Legal Counsel - Dispositions

Realty Income Corporation • San Diego, CA

3d • $121,358 - $242,808 • Hybrid

About The Position

Realty Income aims to be a globally recognized leader in the S&P 100, committed to creating long-term value for all stakeholders. These stakeholders include our dedicated team members, who embody our purpose: building enduring relationships and brighter financial futures. This guiding principle serves as a beacon for our team, influencing every action we take. Our employees consistently invest their time, commitment, and dedication into the company, and in turn, they receive investment returns in the form of purpose, belonging, and opportunities for advancement. We are committed to best-in-class corporate responsibility practices through environmental initiatives, governance programs, and community outreach projects. From the boardroom to the breakroom, our team members make a difference every day. Realty Income is looking to hire a Sr. Legal Counsel to join our in-house real estate legal team. In this role, you will provide timely, high quality legal services and support for negotiated property sales, auction sales, and other disposition activities for the Company’s national portfolio of over 15,000 commercial properties. This role includes assistance to and interactions with Asset Management, Property Management, Asset Management & Real Estate Operations, and other Realty Income teams. Sale-related legal tasks include preparing the property for sale, obtaining diligence information, preparing and negotiating sale agreements and related documents, managing tenant contacts and lease assignments, performing sale closings and post-closing matters, and attending to a broad range of related legal matter. In addition, you will provide general real-estate related legal advice to relevant decision makers throughout the Company, including upper management and executives. Sale types include single properties, multiple-asset portfolios and multi-tenant properties, both vacant and leased.

Requirements

• A Juris Doctorate degree from an accredited law school
• We expect at least 5 years of relevant or on-point legal experience
• A combination of training, experience, skills, and other characteristics that would provide the requisite knowledge and abilities in support of the essential job functions.
• Membership in the State Bar of a jurisdiction approved by the Company

Responsibilities

• Draft and negotiate Purchase Agreements and Amendments, sale closing documents, buyer correspondence, contract assignments, and other documents related to the property or its disposition.
• Manage the property disposition process, including interface and correspondence with internal team members, outside counsel (if applicable), title company personnel, brokers, and buyer principals and counsel.
• Review, analyze and solve property and title issues; close sale; assist in post-close turnover of property to buyer if needed; and numerous peripheral activities and tasks as needed to understand the property and manage the sale and any sale issues that are present or arise.
• Assist the AM team with transaction structuring, LOI negotiations, and related pre-sale matters.
• Conduct or supervise sale closings and post-closing file compilation and review.
• Draft and negotiate lease termination agreements, property access agreements, title company forms, and myriad other documents that are ancillary to certain sale transactions.
• Provide general legal advice and guidance on a wide range of property-related issues.
• Manage the sales team’s form document folder; draft and update form documents.
• Assist with sales team reporting to company executives and personnel.
• Manage and supervise outside counsel assisting with sale matters.
• Approve post-close transaction reports.
• Supervise paralegals and staff on sale-related research, analyses, document preparation and processing, and other sale-related activities.
• Manage the identification and clearing of undesirable exceptions from title, including research of issues and outreach to title company, document counterparties and third parties.
• Manage legal aspects of the buyer relationship, and coordinate the interface of other RIC team members with buyer due diligence activities and property access.
• Structure and conduct 1031 exchanges.
• Supervise the performance of internal checks on property condition and address property condition issues impacting sale; address rent payment and property tax issues and prorations.
• Review and approve closing settlement statements.
• Supervise and mentor direct reports (if and as applicable) in order to develop skills, cultivate teamwork and advance career goals.

Benefits

• We offer a best-in-class benefits package that includes healthcare, dental, and vision insurance for employees and eligible dependents.
• Our 401(k)-retirement plan has a company match of 50% up to 6% of eligible compensation.
• Realty Income also offers other wellness, financial, and work/lifestyle-specific benefits, along with a generous PTO accrual; in addition to 12 paid holidays, and paid volunteer time.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Ph.D. or professional degree
• Number of Employees: 101-250 employees