Real estate joint ventures come in countless shapes and sizes, with significant variation in the goals and purposes of each joint venture. From the location of the real estate investments, to a client’s relative level of sophistication, even for the most seasoned counsel, creating a joint venture can pose unique legal challenges. Structuring the joint venture to a client’s specifications requires specific attention to issues such as promote hurdles, guaranty obligations and transfer restrictions. And what happens when the parties’ visions change and they no longer have the same goals? As lawyers charged with responsibility for drafting and interpreting the joint venture agreement, the final product must mirror the deal struck by the parties, while also protecting the client’s interests.
This two-part series will tackle important issues common to structuring and negotiating a real estate joint venture and provide in-depth coverage of possible exit mechanisms and dispute resolution provisions.
Structuring and Negotiating Real Estate Joint Ventures
Wednesday, March 7, 2018
On-Demand Product Coming Soon
Speakers: Michael Goodwin, Arnold & Porter, Washington, D.C. and Dean Pappas, Goodwin Procter LLP, Los Angeles, CA
Moderators: Danna Kozerski, Coblentz Patch Duffy & Bass LLP, San Francisco, CA and Malcolm Montgomery, Shearman & Sterling LLP, New York, NY
Structuring and negotiating a new joint venture can present challenging obstacles. Each party to the joint venture has a different perspective and position, and counsel must use its client's role as the guidepost for drafting and negotiating the joint venture agreement and related documentation. This program will review common joint venture promote hurdles; management rights; guaranty obligations; dispute resolutions; transfer restrictions; recent developments in real estate joint venture terms; and the differences between programmatic joint ventures and "one-off" joint ventures. Our panelists will explore these topics from the perspective of both the sponsor and the equity investor.
Exit Mechanisms and Dispute Resolution in Real Estate Joint Ventures
Wednesday, April 4, 2018
On-Demand Product Coming Soon
Speakers: Joan Hayden, PGIM Real Estate, Madison, NJ; Alvin Katz, Katten Muchin Rosenman LLP, Chicago, IL and Dean Pappas, Goodwin Procter LLP, Los Angeles, CA
Moderator: Malcolm Montgomery, Shearman & Sterling LLP, New York, NY
Sharing a joint vision for a new real estate venture is a critical element of future success. However, life throws many curveballs and the long-lasting partnership the venture partners had initially envisioned may not come to fruition. Therefore, it is crucial that the joint venture agreement include one or more mechanisms for the partners to go their separate ways, and why these exit mechanisms must be given careful consideration by the parties and counsel. Our panelists will have an in-depth discussion of common joint venture exit mechanisms, including basic structures and considerations for each, addressing the practical advantages and disadvantages of negotiated exits.
Click below to register for an individual upcoming session.
Session 1 - On-Demand Product Coming Soon
Session 2 - On-Demand Product Coming Soon
- RPTE Section Member $95
- American College of Real Estate Lawyers Members $95
- ABA Member $150
- General Public $175
- Additional Attendees (same firm) $75
- Law Students (Webinar only) FREE
Speakers and topics are subject to change.
Each webinar will be 90 minutes.
01:00 PM - 02:30 PM ET
12:00 PM - 01:30 PM CT
11:00 AM - 12:30 PM MT
10:00 AM - 11:30 AM PT
Cancellations and requests for refunds will be honored on the following basis: Two business days or more, 100% refund; one business day or less, 100% refund minus the $25 administrative fee. Substitute registrants are welcome.
For each individual session, the ABA will seek 1.5 hours of CLE credit in 60-minute-hour states and 1.8 hours of CLE credit in 50-minute-hour states in states accrediting ABA live webinars and teleconferences.
NY-licensed attorneys: This non-transitional CLE program has been approved for newly admitted and experienced NY-licensed attorneys in accordance with the requirements of the New York State CLE Board for 1.5 hours of New York CLE credits.
The ABA does not seek direct accreditation of live webinars and teleconferences in FL, ID, KS, ME, NE, NJ, PA, RI, and WY. Some states allow attorneys to earn credit through reciprocity or self-submission. View accreditation information for your state at www.americanbar.org/mcle.
To apply for a financial scholarship, please complete this application. You will be contacted regarding your scholarship prior to the program date.