Corporate, Outside Counsel Management, Real Estate
Primary Purpose of Position:
Perform legal work to assure consistency with and advancement of Boston Properties’ business objectives and policies, and applicable legal requirements.
Confer with senior counsel and managers in order to determine business and legal objectives for specific Boston Properties transactions and to assure that such objectives are achieved.
Analyze, structure, draft and negotiate leases for Class A office, laboratory, R&D and retail space; oversee the work of outside counsel on leases; review and approve letters of credit; monitor compliance with loan requirements, and as necessary obtain lender approval for lease transactions; negotiate subordination, non-disturbance and attornment agreements.
Analyze, structure, draft and negotiate construction contracts, easements and other documents relating to development projects (including zoning and environmental matters); independently or in coordination with senior counsel or outside counsel, appear before municipal boards and agencies as necessary in connection with such projects.
Analyze, structure, draft and negotiate agreements for services, telecommunications providers, construction, third-party development, architects, engineers, financing, brokerage, property management, consultants, confidentiality and other property and transaction related matters.
Analyze, structure, draft and negotiate, independently or in coordination with senior or outside counsel, acquisitions, dispositions, financings, and joint ventures; coordinate 1031 exchanges with corporate staff; participate in due diligence reviews in connection with such transactions; work independently to coordinate the closing of such transactions and maintain records of such transactions.
Advise Company officers and staff on matters of the law; keep current with recent developments; and advise regarding any impacts to the Company.
Draft or revise agreements or other documents as necessary to comply with legal requirements.
Provide advice to property management, accounting, construction, development and leasing staff with respect to a wide variety of matters, including (i) interpretation of leases, such as allocation and calculation of costs payable by tenants, rights of tenants to expand or contract, and obligations for repair or restoration after casualty or upon lease termination, (ii) transition issues for newly acquired properties, (iii) interpretation of contractual obligations, (iv) third-party management issues, and (v) compliance with governmental obligations.
Provide legal advice on collections and bankruptcy matters; draft default letters to tenants and vendors; work with senior or outside counsel on collections and bankruptcy litigation.
Participate in assuring the compliance of the Company with corporate policies and legal requirements, including due diligence for quarterly certifications on entities, litigation and environmental matters, related party transactions, and SEC filings; and assist in providing accurate information for reports to the Board of Directors on particular matters as requested.
Work with outside counsel on insured and non-insured litigation, and on other matters as required.
Effectively manage people and projects, including allocation of resources, establishment of priorities, and delegation of work with clear directions.
Perform other duties as assigned by the SVP, Regional General Counsel.
Requirements and Qualifications:
Undergraduate and Juris Doctor degrees required.
Admission to practice of law in the Commonwealth of Virginia, State of Maryland or District of Columbia required. Candidates who are not admitted in the District of Columbia must become admitted in the District of Columbia.
A minimum of 2-5 years of progressively responsible and relevant work experience.
Ability to provide consistent, high-quality legal analysis and advice.
Ability to produce a significant volume of work which meets established business goals and standards, schedules, and client expectations.
Ability to learn continuously by actively improving skills and expanding knowledge, effectively utilizing electronic and technical resources, and accepting feedback to improve processes and procedures.
Demonstrated leadership qualities, including the ability to act decisively and timely, and adherence to ethical standards of the Company and the legal profession.
Ability to interact with co-workers, contractors, vendors and tenants in an articulate, courteous and business-like manner at all times.
Ability to effectively manage outside attorneys.
Ability to work under pressure.
Ability to work effectively both independently and as part of a team.
Ability to move complex transactions and/or litigation to resolution.
Working knowledge of Microsoft Word.
Travel may be required locally or to other regional offices on a limited basis.
Flexibility with schedule and ability to work beyond regularly scheduled business hours.
Involves work of a general office nature usually performed sitting or standing such as operation of a computer.
Involves work of a general office nature usually performed standing such as operation of a scanner and printer.
Involves movement between departments to facilitate work.
Internal and External Contacts:
Interacts extensively with all levels of employees within Boston Properties and with outside counsel, tenants, brokers, contractors, vendors, industry organizations and public officials.
Works closely with the other members of the Legal department in the Washington Regional office and reports directly to the Regional General Counsel.
Boston Properties, a self-administered and self-managed real estate investment trust (REIT), is one of the largest owners, managers and developers of Class A office properties in the United States, with a significant presence in five markets: Boston, Los Angeles, New York, San Francisco and Washington, DC. The Company was founded in 1970 by Mortimer B. Zuckerman and Edward H. Linde in Boston, where it maintains its headquarters. Boston Properties became a public company in June 1997 and is traded on the New York Stock Exchange under the symbol “BXP.”
Boston Properties is a fully integrated real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling approximately 48.4 million square feet and consisting of 164 office properties (including six properties under construction/redevelopment), five retail properties, five residential properties (including three properties under construction) and one hotel. Boston Properties is well-known for its in-house building management expertise and responsiveness to tenants’ needs. The Company holds a superior track record in developing premium Central ...Business District (CBD) office buildings, suburban office centers and build-to-suit projects for the U.S. government and a diverse array of creditworthy tenants.
What is a REIT?
A REIT is a company that owns, and in most cases, operates income-producing real estate such as apartments, shopping centers, offices, hotels and warehouses. Some REITs also engage in financing real estate. The shares of many REITs are freely traded, usually on a major stock exchange.
To qualify as a REIT, a company must distribute at least 90 percent of its taxable income to its shareholders annually. A company that qualifies as a REIT is permitted to deduct dividends paid to its shareholders from its corporate taxable income. As a result, most REITs distribute at least 100 percent of their taxable income to their shareholders and therefore owe no federal corporate tax. Taxes are paid by shareholders on the dividends received and any capital gains. Most states honor this federal treatment and also do not require REITs to pay state income tax. Like other businesses, but unlike partnerships, a REIT cannot pass any tax losses through to its investors.