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Real Estate Joint Ventures Series
Real estate joint ventures come in countless shapes and sizes, with significant variation in the goals and purposes of each joint venture. From the location of the real estate investments, to a client’s relative level of sophistication, even for the most seasoned counsel, creating a joint venture can pose unique legal challenges. Structuring the joint venture to a client’s specifications requires specific attention to issues such as promote hurdles, guaranty obligations and transfer restrictions. And what happens when the parties’ visions change and they no longer have the same goals? As lawyers charged with responsibility for drafting and interpreting the joint venture agreement, the final product must mirror the deal struck by the parties, while also protecting the client’s interests.
This two-part series will tackle important issues common to structuring and negotiating a real estate joint venture and provide in-depth coverage of possible exit mechanisms and dispute resolution provisions.
Structuring and Negotiating Real Estate Joint Ventures
Wednesday, March 7, 2018
1:00 to 2:30 p.m. Eastern
Michael Goodwin, Arnold & Porter Kaye Scholer LLP, Washington, D.C.
Structuring and negotiating a new joint venture can present challenging obstacles. Each party to the joint venture has a different perspective and position, and counsel must use its client’s role as the guidepost for drafting and negotiating the joint venture agreement and related documentation. This program will review common joint venture promote hurdles; management rights; guaranty obligations; dispute resolutions; transfer restrictions; recent developments in real estate joint venture terms; and the differences between programmatic joint ventures and “one-off” joint ventures. Our panelists will explore these topics from the perspective of both the sponsor and the equity investor.
Wednesday, April 4, 2018
1:00 to 2:30 p.m. Eastern
Joan Hayden, PGIM Real Estate, Madison, NJ
Alvin Katz, Katten Muchin Rosenman LLP, Chicago, IL
John Sullivan, DLA Piper LLP (US), Boston, MA
Sharing a joint vision for a new real estate venture is a critical element of future success. However, life throws many curveballs and the long-lasting partnership the venture partners had initially envisioned may not come to fruition. Therefore, it is crucial that the joint venture agreement include one or more mechanisms for the partners to go their separate ways, and why these exit mechanisms must be given careful consideration by the parties and counsel. Our panelists will have an in-depth discussion of common joint venture exit mechanisms, including basic structures and considerations for each, addressing the practical advantages and disadvantages of negotiated exits.
And an added benefit: If you use the special ACREL discount code, you and your colleagues will be able to register for only $95 for individual sessions, and if more than one person registers, additional registrants pay only $75 each. Promo code coming soon!
Registration info coming soon!
This program is jointly sponsored by the ABA Section of Real Property, Trust & Estate Law and the American College of Real Estate Lawyers