Real Estate Corporate Lawyer - NATIONAL PROPERTY REIT CORP

The Firm

Founded in 1988, Prospect Capital is an alternative asset management firm managing over $11.5B in assets, including permanent capital. Prospect has a long-term, value-oriented approach that employs fundamental bottoms-up research to identify investments that offer attractive risk and reward. Prospect pursues multiple strategies in the US, including direct lending, private equity, real estate private equity, and structured credit.

Prospect's real estate private equity business is primarily housed within National Property REIT Corp. ("NPRC"), a private, wholly-owned REIT that has invested over $3.5 billion in multifamily, student housing, and self-storage properties. With offices in New York City, Connecticut, and Florida, the firm is comprised of 140+ experienced professionals who value entrepreneurship, intellectual rigor, hard work, and continuous improvement.

The Position

The candidate will be the in-house legal counsel for Prospect’s real estate business, which includes the acquisition, financing, operation, and disposition of multi-tenanted real estate properties. Over ninety percent of the properties are Class B and C multifamily real estate (MFR) located in secondary and tertiary suburban markets. The ideal candidate will have experience with workforce housing and, most importantly, will have demonstrated experience in real estate transaction work, including:

Working on transactions that involve REITs, partnerships, joint ventures, and limited liability company structures

Negotiating and preparing purchase and sale agreements for both new acquisitions and dispositions

Negotiating and preparing first mortgage loans, including GSE loan modification language

Negotiating and preparing second mortgage supplemental debt transactions with GSE and other first mortgage lenders

Reviewing and commenting on vendor and other contracts

• Advising when legal or litigious issues arise at the property operational level
• Seeing around corners to anticipate, and solve, real estate legal problems ideally before they arise

Additionally, given Prospect's status as a business development company with its real estate portfolio held in a subsidiary REIT, experience with '40 Act rules affecting business development companies that hold real estate in a captive REIT is advantageous. Familiarity with closed-end fund and non-traded REIT fund private equity and real estate debt fundraising documents, including capital raising via private placement and SEC-registered offerings, is also beneficial.

Individual Opportunity and Culture:

This position offers the opportunity for autonomy and personal growth within a high-performance, entrepreneurial, intellectually challenging, and vibrant investment firm. The successful candidate will have the chance to achieve and exceed personal and business goals.

The anticipated base salary range for this position is $250,000 - $300,000 plus annual discretionary performance-based bonus. Actual pay may be adjusted based on experience and performance.

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