Real Estate Joint Ventures
The Real Estate attorneys at Olshan have extensive experience in the formation of joint ventures for the purpose of commercial and residential real estate acquisition and development.
We are highly skilled in bringing together parties with diverse strengths and common goals, including real estate developers, property owners, public and private, and institutional and individual investors. We assist clients in structuring the ownership entity, advise on the relevant tax implications, and negotiate and draft all related documents, including pre-formation, LLC, partnership and tenant in common agreements. In particular, we have developed an expertise in Delaware limited liability company law, the law sophisticated real estate investors normally use for real estate joint ventures. We are experts in the securities laws governing capital raising activities for real estate ventures, including the pending crowdfunding and Reg D advertising rulemaking arising from the recently passed federal JOBS Act.
We have represented clients in forming joint ventures related to office buildings, retail centers, industrial facilities, mixed-use buildings, residential developments, and land development, including those ranging from single-asset acquisitions to the development of complex real estate portfolios.
We work with our Tax lawyers to address income allocation issues and, when disputes arise between joint venture parties, we work with our Real Estate Litigation attorneys in efficiently litigating and/or resolving fiduciary duty, tax and other joint venture issues.
Resources on our website in this area include:
- Delaware vs. New York LLC - our Client Alert on the advantages of using a Delaware LLC
- LLC Agreement Questions - our LLC checklist in the form of questions to clients
- Tenant in Common Checklist - our checklist of issues for tenants in common relating to signing a major new lease
- Exercising Shotgun Clauses - lessons we've learned in helping clients trigger and respond to LLC and partnership agreement shotgun buy/sell clauses
- Real Estate Law Blog - Tom Kearns' updates on developments in laws governing real estate transactions and LLCs
- @TDKearns - Tom's Twitter feed on real estate, LLCs and crowdfunding issue
- Represented Madison Equities in joint venture with Pizzarotti, a multi-national construction company based in Italy, and with Gemdale Properties and Investment, one of China's largest developers, in building 206-unit condominium at 45 Broad Street in the Financial District, valued at $86 million.
- In one of the biggest financing deals of 2014, Olshan represented the purchaser of the iconic Mobil Building at 150 East 42nd Street, including securing a $700 million loan from Morgan Stanley Mortgage Capital Holdings to complete their acquisition of the leasehold position. The deal included a 99-year ground lease extension with the land owner, purchasing the existing leasehold from Hiro Real Estate, and creating a sub-leasehold condominium to accommodate Mt. Sinai Medical Center. Several Olshan practice groups represented the buyers in the transaction: Tax & Planning, Real Estate and Corporate/Securities. News reports may be found at The Real Deal and GlobeSt.com.
- Regularly represent owners and developers in joint venture arrangements with insurance companies, investment funds and other industries. Our clients have partnered with Principal Life, Goldman Sachs, Invesco, KBS and many others.
- January 18, 2017
- November 20, 2016
- September 6, 2016
- August 22, 2016
- October 26, 2015
- October 21, 2015
- September 15, 2015
- September 4, 2015
- August 21, 2015
- July 24, 2015
- July 17, 2015
- Olshan Represents Client in Securing $182M Loan in Flatiron District Residential Development ProjectJune 15, 2015
- May 6, 2015
- May 4, 2015
- February 18, 2015
- November 28, 2014
- August 29, 2014
- July 9, 2014
- March 27, 2014
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- October 2, 2013
- August 6, 2013
- June 4, 2013
- February 19, 2013
- December 19, 2012
- U.S. News Media Group and Best Lawyers® selects Olshan's Real Estate Practice for “Best Law Firms" IssueNovember 1, 2012
- December 8, 2010
- Real Estate Joint Ventures: Waterfall Structures, Developer Promote, IRR Lookback, Clawback and CatchupMarch 1, 2017The New York Society of Security Analysts in New York