Joint Venture/Equity Investments
We have substantial experience in negotiating and structuring complex joint ventures to facilitate real estate investment and development transactions. Our services include representation of institutions seeking equity investment opportunities, as well as developers seeking joint venture financing. The transactions have included preferred, bridge and pari passu investments in income-producing commercial and residential properties, development deals, and platform joint ventures to invest in multiple transactions. In addition, we have extensive experience in the restructuring of joint ventures, conversion of loans into equity, and the exercise of remedies under joint venture agreements, including buy-sells and forced sales.
Among our many notable engagements, we have represented:
- a real estate development company's joint venture formed for the acquisition of the former Sanofi-Aventis pharmaceutical research campus in Bridgewater, NJ, a deal that won NAIOP-NJ's 2013 Creative Deal of the Year Award.
- a prominent real-estate developer in its recapitalization by the California State Teachers' Retirement System;
- an institutional lender in a joint venture in connection with the acquisition of a regional shopping center in Santa Fe, NM, and a $36 million loan made by the lender to the joint venture entity to be used for the acquisition and remodeling of a mall;
- a private equity fund in a joint venture with a railroad for the acquisition and mixed-use development of a 45-acre tract in Cambridge, Massachusetts;
- a Wall Street investment bank in a joint venture in connection with the acquisition, development and construction of a mixed-use development project proximate to the Washington Nationals Stadium;
- an international bank in the formation of a joint venture to purchase a major regional shopping plaza at a foreclosure sale, and to advise the bank in connection with bidding at auction;
- an investment bank in its equity investment and origination of mezzanine construction financing of a residential condominium development project located in a landmark district of San Francisco;
- a Wall Street investment bank in several joint venture and mezzanine loan financing transactions in connection with the acquisition, development, and construction of a five-star resort hotel and residential condominium in Telluride, Colorado;
- the private equity arm of an investment bank in a platform joint venture with a commercial bank and an owner-operator to originate mezzanine loans and equity investments in real estate transactions; and
- a consortium of private equity funds in a platform joint venture with a hotel operator to acquire and manage hotels throughout the United States.