Senior Affordable Housing Associate

Locations: Seattle, WA; Minneapolis, MN; Boise, ID; Anchorage, AK; Washington, D.C.; Portland, OR; Sacramento, CA; San Diego, CA; San Francisco, CA

Employment Type: Full-time

Requisition ID: JR1320

About the Employer

Stoel Rives LLP is a law firm with a Real Estate & Construction team consisting of more than 60 attorneys who provide legal counsel to real estate owners, developers, contractors, investors, and lenders, as well as architects, engineers, and suppliers. The team assists clients with land use, design, acquisition, disposition, development, financing, risk allocation and insurance assessment, construction, leasing, and sale of commercial, residential, and agricultural properties.

Role Summary

Stoel Rives is seeking an associate with six or more years of affordable housing experience to join its Real Estate Practice Group. This position is available in any of the firm's nine offices: Anchorage, Boise, Minneapolis, Portland, Sacramento, San Diego, San Francisco, Seattle, or Washington, D.C.

What You'll Do

Manage the full lifecycle of affordable housing deals including site control, due diligence, financing, construction and permanent loan closings, and post-closing matters
Draft core deal documents including development agreements, purchase and sale agreements, partnership and operating agreements, loan and credit agreements, regulatory and land use agreements, ground leases, joint venture agreements, and debt and equity opinion letters
Coordinate and negotiate with lenders, investors, municipal and state agencies, and third-party consultants on multi-party, multi-deadline transactions
Work on LIHTC deals (9% and 4%), tax-exempt bond financings, and layered financing structures
Handle preservation, resyndications, portfolio transactions, rehabilitation, and scattered-site projects
Assist with HUD programs including Section 8/HAP, RAD conversions, FHA-insured loans, mixed-finance, HOME/CDBG, and state housing finance agency requirements

Required Qualifications

Six or more years of affordable housing experience
Experience with the full lifecycle of affordable housing deals: site control, due diligence (title/survey, zoning, property tax exemptions), financing, construction/permanent loan closings, and post-closing matters
LIHTC experience (9% and 4%), including tax-exempt bond financings and layered financing structures
Experience drafting core deal documents including development agreements, disposition/purchase and sale agreements, partnership/operating agreements, loan and credit agreements, regulatory and land use agreements, ground leases, joint venture agreements, and debt and equity opinion letters
Experience coordinating and negotiating with lenders, investors, municipal and state agencies, and third-party consultants on multi-party, multi-deadline transactions
JD and active bar membership in good standing; ability to gain admission where required

Preferred Qualifications

Familiarity with HUD programs such as Section 8/HAP, RAD conversions, FHA-insured loans (e.g., 221(d)(4), 223(f)), mixed-finance, HOME/CDBG, and state housing finance agency requirements
Experience with preservation, resyndications, portfolio transactions, rehabilitation, and scattered-site projects

Compensation

$236,000–$325,000. Base compensation presented to an individual candidate may vary based on skills, overall experience, and market location.

Additional Information

Hours expectation for this position is 1,800 billable hours and an "all-in" hours expectation of 2,050 or 2,150, depending on seniority. The billable hours expectation includes up to 50 pro bono hours. All-in hours include billable hours, additional pro bono hours, and investment hours (business development, professional development, mentoring and coaching, recruiting, contributing to workplace culture, and civic and community activities). To be eligible for a bonus, associates must reach or exceed 1,850 billable hours (inclusive of up to 50 pro bono hours) and meet or exceed the all-in hours expectation.

Stoel Rives places a high priority on developing and retaining talent through various training programs, retreats addressing practice area topics and skills, a coaching and mentoring program, and a new lawyer integration program. The firm has a core competency model serving as a roadmap of practical skills, abilities, and client service techniques needed for long-term success. Stoel Rives is a proud participant in the ABA Well-Being Pledge and values the well-being of its people as paramount to the firm's success.

Stoel Rives LLP jobs

Senior Affordable Housing Associate