Position Description

Associate General Counsel, Fund Matters
Location Los Angeles
Job Code 318
# of Openings 1
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Position Summary:

The Associate General Counsel, Fund Matters serves as the lead counsel for ARA’s real estate commingled funds. The position reports to the General Counsel, Chief Compliance Officer and works directly with the Investment Committee, Operations Committee, the senior management team, and the Chairman & CEO in the operations and administration of the firm.

ARA is a registered investment advisor under the Investment Advisers Act of 1940 and an ERISA fiduciary. Knowledge of ERISA, the ‘40 Act, Federal Securities Laws, tax laws, REIT compliance, and entity formation is an important part of being successful in this position. ARA, through its funds, acquires real estate investments throughout the United States. Knowledge of the private equity real estate market and how such investments work and are structured is an essential part of this position. 

This role is primarily responsible for all matters for ARA’s funds. Such matters include oversight of compliance with the fund documents and updating such documents to address new laws, compliance with U.S. and foreign securities laws in the sale of interests in the funds, fund formation and dissolution, side letter negotiations with investors, side letter compliance oversight, legal oversight of entity structuring in connection with new investments to minimize federal, state and local taxes as well as upon disposition,and oversight of entity formation and maintenance. As the in-house legal team is relatively small and the company is fast-moving, the Associate General Counsel, Fund matters will oversee a wide variety of outside counsel to ensure such matters are addressed in the best interests of the firm’s investors.

This position works directly with the members of senior management and will play a key role in the future success and growth of the firm. 
 
Essential Functions:
  • Oversee legal matters relating to ARA’s clients, and the assets ARA manages for those clients.
    • Supervise firm activities to ensure compliance with existing fund investment management agreements including legal oversight of required periodic reporting to investors.
  • Working with outside counsel, negotiate the terms of investment management agreements for new funds.
  • Supervise outside counsel in the formation and maintenance in good standing of over 100 entities formed to hold title to real estate. Review authorizing resolutions for acquisitions, dispositions, loan, transactions, and ensure timely dissolutions of entities no longer needed.
  • Provide legal oversight of ongoing REIT compliance for several REITs under ARA’s management; oversee the formation of new REITs as needed.
  • Oversight of tax, ERISA and securities law areas that are unique to ARA and the real estate investment management industry.
  • Assist the General Counsel in ensuring ARA meticulously fulfills its fiduciary obligations to its clients under ERISA.
  • Develop an understanding of prohibited transactions under ERISA and how to avoid and structure around such transactions.
  • Develop an understanding of tax and other laws that affect REIT operations and REIT compliance.
  • Develop an understanding of the Investment Advisers Act of 1940, and ARA’s obligations under the Act.
  • Develop an understanding of Regulation D and other securities law that impact ARA; it’s management of existing accounts and products, and the formation of new investment funds and products.

Education:

  • Juris Doctorate.
  • A member (in good standing) of the California State Bar.

Experience:

  • Eight to fifteen years of experience in the legal field with a demonstration of increased responsibilities over time.
  • Prior law firm experience and in an in-house legal role is preferred, particularly within a professional services environment.

Skills:

  • Position requires someone who is self-reliant, self-confident, adaptable and flexible.
  • Must be able to work effectively in teams and individually.
  • Must be open to critical feedback and learn from it and adjust course.
  • This position thrives on challenge and significant responsibility.
  • Possess strong drafting and negotiating skills.
  • Unquestioned integrity.
  • Passionate about learning and growth and driven by an internal zeal to achieve.
  • Proven ability to handle confidential information with discretion.
  • Strong organizational skills that reflect the ability to perform and prioritize multiple tasks seamlessly with excellent attention to detail.
  • Ability to build relationships with stakeholders, including staff, external partners, clients, and other industry professionals.
  • Excellent writing, spelling and grammar skills.
  • Capable of proactive problem solving and sound decision-making.
  • Highly resourceful team-player, with the ability to be independently effective.
  • Adaptable to various competing demands and desire to demonstrate the highest level of responsiveness and client service.
  • A forward-looking thinker who actively seeks opportunities and proposes solutions to current and future business needs.
  • Demonstrated interpersonal skills and ability to interact with diverse personality types to contribute to a positive team-oriented work environment.

Supervisory Responsibilities:

  • None

Job Specifications:

  • Position type: This position is considered exempt under the Federal Labor Standards Act
  • Expected work hours: 8:30 to 5:30, Monday through Friday. There are evenings and weekends where responses to communication are necessary although it is not mandatory to be in the office those evenings and weekends.
  • Travel: May be required to drive a personal vehicle for business (on occasion).
  • Work environment and physical demands: General office environment.

 

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties responsibilities and activities may change at any time with, or without, notice.


American Realty Advisors is committed to equal employment opportunity. We do not discriminate based on an individual's race, sex, religion, color, national origin, ancestry, physical or mental disability, medical condition, marital status, registered domestic partner status, veteran status, sexual orientation, age, gender identity, genetic characteristics, or any other basis prohibited by law. This policy governs all aspects of employment at American Realty Advisors, including hiring, assignments, training, promotion, compensation, employee benefits, employee discipline and discharge, and all other terms and conditions of employment.


ARA considers for employment qualified applicants with criminal histories in a manner consistent with the requirements of the Los Angeles Fair Chance Initiative for Hiring Ordinance No. 184652.

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