Structuring Programmatic Real Estate Joint Ventures: Structures, Deal Sharing and Exclusivity, Pooling Variations

Negotiating Key Deal Terms From Sponsor and Equity Investor Perspectives

*** An encore presentation featuring live Q&A ***

A 90-minute CLE webcast with interactive Q&A


Tuesday, October 24, 2017
1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, September 29, 2017


This CLE video webcast will discuss programmatic real estate joint ventures (JVs) and how they differ from traditional, single investment JV relationships, alternative structures for programmatic JVs, and key JV agreement terms to consider and negotiate. The program will present these issues in an interactive format from the perspectives of counsel for the developer/operator and counsel for the capital investor.

Description

With the economy and specifically the real estate market healthy, programmatic real estate JVs provide economic and competitive advantages for both sponsors and equity investors.

Developers and operators seek reliable sources of capital to deploy quickly, while equity investors look for sustainable partnerships with experienced and reputable sponsors. Programmatic or platform real estate JVs allow the parties to invest as part of a master program instead of deal-by-deal transactions and thus maximize efficiencies in time, capital deployment, management and expenses.

Terms unique to programmatic JVs include investment parameters, deal sharing and exclusivity, discretion, and termination of relationship. One of the key issues that the parties must negotiate is the pooling of economics, namely how returns will be distributed and promote paid to the sponsor, on a deal-by-deal and/or portfolio basis.

Listen as our authoritative panel of real estate practitioners walks you through current market trends with respect to programmatic real estate JVs. The panel will discuss alternate structures for programmatic JVs and key JV agreement terms in an interactive format from the perspective of sponsor counsel and capital investor counsel.

Outline

  1. Overview of trends in market
  2. Programmatic JV structures
  3. Deal sharing and exclusivity
  4. Pooling of economics, distribution of returns, payment of promote and clawback provisions
  5. Governance issues
  6. Financing guaranties and related issues
  7. Default remedies and removal rights
  8. Deadlocks, lockouts and exit provisions

Benefits

The panel will review these and other key issues:

  • What are the typical structures used in programmatic JVs for real estate investment?
  • How can the parties bridge the gap between disparate objectives with respect to deal sharing and exclusivity?
  • How do the issues shift with respect to single vs. pooled investment and the corresponding distribution and clawback of promotes?
  • How do competing expectations of operators and capital investors regarding governance issues, guaranties and exit rights typically get resolved in various structures?

This is an encore presentation with live Q&A.

Faculty

Michael Saarinen, Partner
Alston & Bird, New York

Mr. Saarinen is a partner with Alston & Bird’s Investment Management, Trading & Markets Team. Mr. Saarinen represents a wide range of private fund sponsors, from small, closely held startup asset management businesses to global financial institutions. He advises on the domestic and international aspects of fund development, formation, marketing and operations across many types of funds, including private equity funds, hedge funds, venture capital funds, growth equity funds and other innovative investment products. He also counsels clients on regulatory and compliance issues, compensation arrangements, strategic transactions and governance. 

Timothy P. Selby, Partner
Alston & Bird, New York

Mr. Selby is the head of the Investment Management Practice at Alston & Bird. He focuses his practice on advising clients with respect to the structuring and management of hedge funds, managed futures funds, private equity funds, and publicly offered-direct participation programs. He represents a broad range of clients, employing a wide variety of alternative investment strategies; from well-established institutions to experienced fund managers that have decided to build their own asset management firms.


Live Webcast

Live Webcast $247.00

Includes Early Discount Savings of $50.00 (through 09/29/17)

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This webcast is eligible for at least 1.5 general CLE credits.

CLE credits are not available for PR.

*In KS, OH, PA, for more than 1 attendee on the connection you must contact Strafford CLE via email or call 1-800-926-7926 ext. 35 prior to the program for special instructions.


Recordings

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On-demand is the only recorded format recognized for CLE credits in DE, IN, KS, LA, MS, NC, OH, OK, SC, TN, VA, WI.

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*Only available for attorneys admitted for more than two years. For OH CLE credits, only programs recorded within the current calendar year are eligible - contact the CLE department for verification.

**NH attendees must self-determine if a program is eligible for credit and self-report their attendance.

CLE On-Demand Video $247.00
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Strafford is an approved provider and self-study CLE credit is available in most states.

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Strafford will process CLE credit for one person on each recording.

Additional copies of a recording can be purchased at a discount. Please call Strafford Customer Service toll-free at 1-800-926-7926 ext 10 or email customerservice@straffordpub.com to place your order.

Recorded Webcast Download $247.00
Available 48 hours after the live event

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Recorded Audio Download (MP3) $247.00
Available 24 hours after the live event

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DVD (Slide Presentation with Audio) $247.00 plus $9.45 S&H
Available ten business days after the live event

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Registration Plus Recorded Event

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Live Webcast & Webcast Download $344.00

Includes Special Savings of $250.00 (through 09/29/17)

Live Webcast & Audio Download $344.00

Includes Special Savings of $250.00 (through 09/29/17)

Live Webcast & DVD $344.00 plus $9.45 S&H

Includes Special Savings of $250.00 (through 09/29/17)


Webcast

Strafford webcasts are filmed live and feature video of the presenters. They can be viewed as an encore with live Q&A or as a recording.

Early Registration
Discount Deadline
September 29, 2017
(7 days)

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Real Estate Law Advisory Board

David A. Barksdale

Partner

Ballard Spahr

Jacob Bart

Partner

Stroock & Stroock & Lavan

Brian W. Blaesser

Partner

Robinson & Cole

Ronald B. Grais

Counsel

Sugar Felsenthal Grais & Hammer

Ren R. Hayhurst

Partner

Bryan Cave

Thomas C. Homburger

Of Counsel

K&L Gates

Susan C. Tarnower

Counsel

Kilpatrick Townsend & Stockton

Clark T. Thiel

Partner

Pillsbury Winthrop Shaw Pittman

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