The legal department supports all of Enterprise; however, this position will be primarily focused on supporting the Capital Division, more specifically, the following areas of that business:
Tax Credit Syndication – Enterprise creates equity funds with institutional investors, which funds invest in limited partnerships / limited liability companies that acquire, construct/rehabilitate, and operate affordable housing projects that generate IRC Section 42 low-income housing tax credits (“LIHTC”), along with, in some cases, IRC Section 47 rehabilitation credits (“historic credits”), IRC Section 48 energy credits, IRC Section 45L energy efficient home credits, and/or state LIHTC. Enterprise manages the funds and identifies sponsors to partner with and affordable housing projects to invest in.
Real Estate Equity – Enterprise creates real estate equity funds with institutional investors, which funds invest in limited partnerships / limited liability companies that acquire, own, operate and preserve affordable housing. Enterprise identifies sponsors to partner with and affordable housing projects to invest in.
Asset Management – Enterprise asset manages the portfolio of projects in which its funds invest.
Lending – Enterprise’s CDFI subsidiary, Enterprise Community Loan Fund, Inc., provides innovative capital to connect affordable housing projects to community assets that expand resident opportunity
Salary Range: $170,000-$214,000
The Associate General Counsel will work with our business partners and legal team in connection with the following:
- Negotiate and close lower-tier Real Estate Equity transactions, including drafting and negotiating joint venture agreements and mezzanine loan documents, and reviewing due diligence;
- Draft and negotiate Fund Agreements and all corresponding side letters for Real Estate Equity;
- Counsel client on lower-tier Tax Credit Syndication transactions;
- Close upper-tier Tax Credit Syndication transactions, including drafting and negotiating fund agreements with investors;
- Provide legal support for the Asset Management Department, including advising on operating agreements; drafting, reviewing, and negotiating lower-tier equity and project documents; resolving disputes with sponsors; reviewing and negotiating various real estate documents; and providing counsel on workouts and dispositions;
- Draft and negotiate loan documents and complete settlement of loans (incoming and outgoing) for Enterprise Community Loan Fund and advise client on regulatory requirements pertaining to CDFIs;
- Perform other duties, as assigned, including for Enterprise Community Partners and the other divisions;
- Conduct legal research on various issues, as needed;
- Manage template legal documents for one or more areas of business;
- Coordinate with outside counsel, as needed; and
- Occasional travel.
- Undergraduate degree and J.D. or LL.M.; a minimum of five years real estate transactional experience in-house or with a law firm;
- Experience with low-income housing tax credits preferred;
- Experience representing lenders in real estate transactions preferred;
- Experience in drafting and negotiating loan documents preferred;
- Experience in drafting and negotiating equity fund agreements and joint venture partnership agreements preferred;
- Excellent written and verbal communication skills;
- Ability to develop personal relationships with co-workers and clients;
- Strong critical thinking and analytical skills, including ability to define problems and strategize solutions while considering legal issues and risks; and
- Ability to work with multiple clients and establish priorities and desire to work in a team environment.
PLEASE NOTE: We are not able to provide sponsorship or relocation for this position.
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