Chartered Legal Executive CILEX (EMEA Asset Management)

About Realty Income

Realty Income (NYSE: O), an S&P 500 company, is a real estate partner to the world's leading companies. Founded in 1969, we invest in diversified commercial real estate and have a portfolio of 15,600 properties in all 50 U.S. states, the UK and six other countries in Europe, with a gross book value of $58bn. We are known as "The Monthly Dividend Company(R)” and have a mission to deliver stockholders dependable monthly dividends that grow over time. Since our founding, we have declared 656 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats(R) index, having increased our dividend for the last 30 consecutive years.

You will be joining one of the largest Real Estate Investment Trusts in the world as we rapidly expand into the UK and European markets, including moving into new offices at 3 St. James’s Square. The European portfolio, including the UK, has experienced consistent growth quarter-on-quarter since our first international acquisition, a £429m 12-property portfolio from Sainsbury’s in 2019. In just five years the portfolio now includes investments of over $11bn, and 483 distinct properties.

This exciting opportunity will challenge you as you support the team working on a cutting-edge Real Estate portfolio and dynamic opportunities for career growth as the company and our portfolio expands.

Position Overview:

Our expansion into Europe is well underway and, with a portfolio of several $ billions of assets under management in the UK and in Europe, we need your contribution to build and manage our asset and property management capability. The role has four key areas of focus:

• Supporting Legal Counsel and Vice President in building an effective and scalable legal function and processes for the management of an ever-growing portfolio.
• Collaborating with Portfolio Management team to enhance value.
• Managing renewals including 1954 Act process and tactics.
• Contributing to ESG initiatives including energy efficiency and solar projects.

As the lead on assigned transactions, collaborate with the Portfolio Management team (“PM”) and external advisors in managing a variety of real estate assets and real estate owning companies, including but not limited to multi-let assets across the United Kingdom and Europe for the Company’s rapidly growing European real estate portfolio. Lead on assigned matters and manage all necessary legal services, in combination with outside counsel and third-party service providers. Where necessary, supervise Legal Assistants working on assigned matters from external law firms. Collaborate with the Company’s interdisciplinary team of professionals to devise an optimal asset management, value add, energy efficiency and solar initiatives and property litigation approach and provide proactive legal advice to the Company’s executives.

Key Responsibilities:

Portfolio Management (“PM”):

• Coordinate, analyse, manage, negotiate, document and close a wide range of multifaceted asset management transactions.
• Where applicable, supervise assigned Real Estate Legal Assistants and collaborate with interdisciplinary team to devise optimal approach in context of assigned transaction.
• Handle wide range of routine PM legal matters, e.g., draft/negotiate lease agreements, agreed lease renewals, opposed and unopposed lease renewals with security of tenure under the Landlord and Tenant Act 1954, ground leases, confidentiality agreements, exclusivity agreements, consents to sublease, lease assignments, collateral assignments, deeds of surrender, alterations and improvements, landlord waivers/subordinations, license agreements, deeds of easement, rent review memoranda etc.
• Review and draft third party supplier agreements.
• Review solar panel installation, energy and income sharing agreements.
• Attend director meetings and present transactions to the board of directors, coordinate execution of documents, and assist with entity management responsibilities where required.
• Analyse transactions and structuring on transactions in the UK and other countries as necessary.
• Review, evaluate and approve information and reports received from external advisors in connection with management transactions.
• Manage and monitor environmental issues from a legal perspective. Review and analyse environmental reports.
• Supervise Legal Assistants in coordinating their own asset management matters where applicable.
• Exercise creativity and resourcefulness in resolving legal matters effectively and efficiently.
• Consult with PM on deal structuring, lease compliance matters and interpretation of lease terms, conditions and issues.
• Develop and make recommendations to Legal team regarding improvements to internal policies and procedures for handling asset management transactions and litigation.

Tenant Defaults:

• Advise the Company on best practice in the event of tenant defaults;
• Retain and oversee external solicitors as and when necessary.
• Manage/oversee routine litigation and retain/supervise outside legal counsel, including but not limited to opposed and unopposed lease renewals with security of tenure under the Landlord and Tenant Act 1954.
• Handle miscellaneous title issues.
• Provide clarification on legal language or specifications to PM.
• Research and evaluate different risk factors regarding business decisions and operations.
• Apply effective risk management techniques and offer proactive advice on possible legal issues.
• Communicate and negotiate with external parties (brokers, external counsel, third party vendors etc.), creating relationships of trust.
• Provide professional legal counsel and advice to Company executives.

General:

• General legal research and investigation.
• Routine advice/counsel to all departments on legal matters.
• General legal document review, drafting and negotiating.
• Special projects and duties as assigned.

Confidentiality Agreements/Non-Disclosure Agreements:

• Work with the acquisition department to coordinate the review and analysis of confidentiality/non-disclosure agreements on the front-end of potential acquisition targets.

Tenant Default or Insolvency Scenarios:

• Assist the Company devising and implementing strategies resulting from tenant default or other property related litigation matters.

Corporate:

• Handle miscellaneous and various corporate legal matters as necessary.

Performs other duties as assigned.

Candidate Requirements

Knowledge, Skills, and Abilities

Must have for the role:

• Qualified Chartered Legal Executive CILEX (England & Wales).
• Excellent knowledge and understanding of English real estate law, property litigation (with a good working knowledge of opposed and unopposed lease renewals with security of tenure under the Landlord and Tenant Act 1954).
• While we do not set upper or lower limits of qualification for any of our vacancies, candidates with at least 4+ years’ suitable post-qualification experience are likely to have the right level of knowledge and experience in a City law firm or real estate focused investment fund; exceptional candidates outside of this range will be considered; with substantial experience in commercial real estate transaction law and real estate litigation.
• Fluent (spoken and written) English.
• Highest standards of integrity and professionalism.
• Builds relationships across functional groups and geographies; works as “One Team.”
• Inclusive, collegial, adaptable and flexible.
• Proven experience as a chartered legal executive in business environment.
• Highly effective written and verbal communication skills; ability to communicate ideas and issues clearly and concisely.