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
Recording of a 90-minute premium CLE webcast with Q&A
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.
- Overview of trends in market
- Programmatic JV structures
- Deal sharing and exclusivity
- Pooling of economics, distribution of returns, payment of promote and clawback provisions
- Governance issues
- Financing guaranties and related issues
- Default remedies and removal rights
- Deadlocks, lockouts and exit provisions
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.
Michael D. Saarinen
Alston & Bird
Mr. Saarinen is a partner with Alston & Bird’s Investment Management, Trading & Markets Team. He... | Read More
Mr. Saarinen is a partner with Alston & Bird’s Investment Management, Trading & Markets Team. He represents a wide range of private fund sponsors, from small, closely held startup asset management businesses to global financial institutions. Mr. Saarinen 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.Close
Timothy P. Selby
Alston & Bird
Mr. Selby is the head of the Investment Management Practice at Alston & Bird. He focuses his practice on advising... | Read More
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.Close