Real Estate Joint Ventures: Waterfall Structures, Developer Promote, IRR Lookback, Clawback and Catchup
Calculating and Structuring Promote, Planning for Phantom Income, and Taxation of Carried Interest
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will guide real estate counsel on the various methods of structuring waterfall provisions and promote payments to managers/developers in real estate joint venture agreements. The panel will examine the tax implications for distributions and promote payments.
Outline
- Calculating IRR and promote
- Structuring promote
- Clawback and claw-forward provisions
- Tax ramifications and allocation provisions
Benefits
The panel will review these and other high priority issues:
- What are the various methods for calculating promote?
- What are the best approaches for structuring promote provisions?
- How can counsel anticipate and plan for phantom income?
Faculty
Seth R. Hoffman
Chief Operating Officer and General Counsel
HighBrook Investors
Mr. Hoffman is HighBrook's Chief Operating Officer and General Counsel. Mr. Hoffman focuses his efforts on the... | Read More
Mr. Hoffman is HighBrook's Chief Operating Officer and General Counsel. Mr. Hoffman focuses his efforts on the operations of HighBrook, including capital structuring and the management of legal affairs. Prior to joining HighBrook, Mr. Hoffman was an attorney with the law firm Jones Day for four years, where he served as HighBrook's primary counsel. In addition, he represented HighBrook and other clients in a real estate private equity transactions, real estate financings, cross-border real estate investments, and real estate fund formations. Mr. Hoffman negotiated a wide range of complex capital structures, including joint ventures, acquisitions, preferred equity and debt investments, together with leasing, management, and other traditional real estate transactions. Prior to his tenure at Jones Day, Mr. Hoffman worked at Fried Frank in both their New York and Hong Kong offices, representing clients in real estate private equity and capital market transactions. Mr. Hoffman earned a BA in Biological Sciences from State University of New York at Buffalo and his JD from Fordham University. Mr. Hoffman serves on HighBrook’s Executive Committee and the Risk Management Committee.
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Benjamin R. Weber
Partner
Sullivan & Cromwell
Mr. Weber has experience in a broad range of commercial real estate, corporate finance, and private and public... | Read More
Mr. Weber has experience in a broad range of commercial real estate, corporate finance, and private and public securities transactions, including acquisitions and dispositions, corporate and partnership restructurings, securitizations, financings, private equity investments, and public and private offerings of debt and equity.
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