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
- 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
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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*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.
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CLE On-Demand Video
$247.00
Available 48 hours after the live event
Includes Early Discount Savings of $50.00 (through 09/29/17)
Recorded Event
Includes full event recording plus handouts (available after encore webcast).
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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
Best value!
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.
Discount Deadline
September 29, 2017
(7 days)
CLE Credits By State
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