PR Asset Management Inc. | Park Ridge, Illinois (in person, based in our Corporate Office)
PR Asset Management Inc., the asset management entity that employs the legal team supporting the Company’s residential portfolio is seeking an experienced Senior Counsel, Real Estate and Operations to join its in house Legal Department. This position reports directly to the General Counsel and will serve as a senior legal resource across the portfolio's real estate ownership, management and development operations.
The legal team supports property management across approximately 7,000 units in the Chicagoland and Florida areas.
We are seeking an attorney with approximately 15 - 20 plus years of legal experience who has developed strong independent judgment and is interested in moving into, or continuing in, a broad in-house role where legal advice is closely connected to business operations.
This is not a narrowly defined transactional or litigation position. The successful candidate will be comfortable moving between sophisticated real estate matters, contracts, property management issues, disputes, regulatory matters and day to day business counseling.
In addition to its residential real estate portfolio, ownership maintains a range of other real estate and non real estate business investments, and this role may occasionally intersect with legal matters connected to those interests.
Responsibilities
The Senior Counsel will work directly with the General Counsel and the Company’s ownership and management teams to:
• Advise on legal issues arising from the Company’s ownership and management of residential and commercial real estate in Illinois and Florida.
• Provide practical legal guidance to property management and senior leadership on landlord tenant, lease enforcement, Fair Housing, reasonable accommodation and ESA matters, resident disputes and other operational issues.
• Draft, review and negotiate leases, amendments, vendor agreements, construction and installation agreements, management agreements and other commercial contracts.
• Assist with acquisitions, dispositions, financing, refinancing and other real estate transactions.
• Review loan documents and transaction materials for consistency, business terms and legal risk.
• Manage litigation and disputes in coordination with outside counsel, including matters outsourced to local counsel in both the Chicagoland area and Florida, developing strategy, monitoring matters and controlling outside legal spend.
• Identify legal and operational risk before matters escalate and provide management with clear, practical recommendations.
• Conduct legal research and interpret applicable statutes, ordinances and regulations affecting the Company’s operations.
• Assist with employment, corporate and general business matters as needed.
• Develop policies, templates and standardized approaches that reduce recurring legal risk across the portfolio.
• Work with the Legal Operations Manager and paralegal staff to ensure appropriate intake, documentation, calendaring, matter management and follow through.
• Collaborate closely with the rest of the legal team on shared matters. This role does not have junior associates to delegate to; work gets done together and directly.
• Partner with the General Counsel on department priorities, risk management and legal strategy.
What We Are Looking For
We are looking for someone who is both an issue spotter and, more importantly, a problem solver, with a can do, flexible, get it done attitude and a genuine understanding that in-house counsel is a different job than practicing at a law firm.
Beyond that, the ideal candidate will have:
• 15 plus years of legal experience.
• Significant experience involving commercial or residential real estate, preferably including both transactional and operational matters.
• Strong contract drafting and negotiation skills.
• The ability to independently assess an issue, identify the relevant facts and law, and recommend a course of action.
• Excellent professional judgment and an ability to distinguish significant legal risk from routine business issues.
• Experience managing outside counsel and litigation.
• The ability to communicate legal advice clearly and practically to colleagues without a legal background.
• Confidence interacting directly with ownership, executives, property managers and outside professionals.
• A collaborative style and willingness to work across a wide range of matters rather than remain within a narrow specialty.
• Strong organizational skills and the ability to manage multiple matters without requiring significant day to day supervision.
Experience with landlord tenant law, Fair Housing compliance, real estate finance, construction, employment matters or Florida real estate operations is beneficial but not required in every category. Admission to practice law in Florida is not required for this role.
Why This Role
This position may be particularly attractive to an experienced attorney who has spent significant time in private practice or a specialized corporate role and is looking for a change.
The role provides direct access to decision makers, broad exposure to the legal and business sides of a substantial real estate operation, and the opportunity to help shape an evolving in-house legal function.
Rather than focusing on billable hours or a narrow practice area, the Senior Counsel will see matters through from issue identification to business resolution.
Benefits Include:
Potential starting salary $250,000, plus. Starting salary will be based on experience.
If interested, send resume and salary requirements.
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