Real Estate Partnerships and Joint Ventures

Commercial joint ventures provide the opportunity to pool resources, share expenses and risk, access other sources of knowledge and experience, and potentially use the strength of another party’s reputation or credibility to advance a real estate transaction.

Overview

We represent developers, sponsors, and investors in forming, structuring, and managing joint ventures—whether limited or general partnerships, limited liability companies, or other alliances—throughout the United States. Our services include strategic formation advice, drafting and negotiating agreements, advice on tax consequences, dispute resolution, and liquidation. We also represent joint venture entities in the development, financing, construction, and operation of their commercial real estate assets. We negotiate joint ventures relating to office, multifamily, mixed-use, residential, Low Income Housing Tax Credit (LIHTC), and energy projects.

The responsibilities of the joint venture partners are negotiated largely on the expertise, resources, and experience of each partner and what it brings to the table. Short- and long-term goal achievement for all joint venture parties are largely dependent upon effective counsel regarding structure, form, financing, management control, and appropriate dispute resolution and wind-up procedures.

Matters
  • Represented the developer in the negotiation of a joint venture with a Boston-based institutional investor for the development of a 1.7-million-square-foot mixed-use high rise and an adjoining midrise office building. We represented the joint venture on all real estate aspects of these projects, including land control (they were ground lease deals), due diligence, closing, and construction financing. We represented the same developer in joint venture transactions with major New York and California institutional equity investors for multiple office projects.
  • Represented a developer in the negotiation of a joint venture with an investor for a series of apartment projects. Separate joint ventures were formed for each acquisition. We also represented the joint venture in all of the real estate aspects of the transactions for these joint ventures.
  • Represented a developer in negotiating a multitude of joint venture agreements with co-developers and co-investors on a variety of multifamily, mixed-use, and office projects. Separate joint venture agreements on multiple levels were negotiated and prepared for each transaction, all involving ground-up development. We also represented the ultimate title-holding joint venture in securing financing for various of these projects, recapitalizations and transfers of interests within the joint ventures, negotiating and documenting various easements and related agreements to facilitate and enable development activities, and negotiating and documenting architectural, engineering, and construction agreements.
  • Represented international investment funds in the negotiation and documentation of joint venture agreements with various developers of single-family home lots throughout the country and in securing both individual project-based financing and portfolio-wide financing.
  • Represented a privately held real estate merchant bank in negotiating a joint venture agreement with an institutional investment partner in connection with the purchase of a 250,000-square-foot warehouse.
  • Represented the asset manager in negotiating a joint venture for a mixed-use retail and office building. We advised the joint venture throughout all aspects of the transaction, including acquisition, environmental due diligence, lease drafting, financing, and joint venture structuring.
  • Represented the developer in the negotiation of a joint venture agreement and related development services agreement with a life insurance company for the development of a 700,000-square-foot industrial project.
  • Represented the developer in the negotiation of a joint venture agreement with a real estate investment fund for the development of a residential subdivision and the construction of homes within the subdivision.
  • Represented the developer in the negotiation of a joint venture agreement and related development management agreement with a real estate investment fund for the development of a 219-unit apartment project, which also included an Opportunity Zone investment component.
  • Represented a developer in the negotiation of a joint venture agreement for the development of an apartment project. In addition to negotiating the joint venture, we represented the joint venture on the purchase of the land, resolution of certain environmental matters, and construction financing.
  • Represented the developer, over a span of 15 years, of a 36-acre, transit-oriented development on a former industrial space. Numerous projects on this site were developed and sold by the developer and its joint venture partner. We negotiated the joint venture agreement with the developer’s investment partner and subsequently represented this joint venture in a number of deals on this development site, including negotiating development joint ventures with an additional investor.
  • Represented a developer in the negotiation of a joint venture agreement and related development services agreement with a real estate investment fund for the development of a 468,810-square-foot industrial building on 50 acres of raw land.
  • Represented a land development and homebuilding company in the negotiation of a joint venture agreement with an institutional equity investor for the development of a 153-unit multifamily project.
  • Represented a winery in joint venture formation.
Team
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