Many real estate acquisition and development transactions involve joint ventures between developers and equity sources, or private equity investments from domestic or international funds. Herrick lawyers have guided clients through hundreds of these transactions, involving every type of commercial real estate asset.
Proper structuring is integral to the success of a joint venture, so our lawyers are often brought in at the term sheet phase. There, we analyze the economic terms and collaborate with our tax lawyers to devise the most favorable structure for the joint venture entity.
We then use our extensive real estate and corporate experience to negotiate economic terms, waterfalls and developer promotes; properly allocate risk between the parties, clearly delineate management and control of the venture, provide the desired levels of liquidity, and address exit strategies and potential areas of conflict. Our significant experience dealing with these issues allows us to effectively move transactions along, while providing value-added market intelligence.
In executing the transaction, our clients benefit from the institutional insights afforded by our multi-disciplinary team of acquisition, development, finance, construction, land use and zoning, and cooperative and condominium lawyers. Drawing on our full-service capabilities, we can quickly and efficiently address the wide range of issues that can arise throughout a high-stakes joint venture transaction.
Whether you are an experienced market participant with a programmatic joint venture alliance, or a developer or equity investor executing a one-off transaction, our lawyers can provide you with exceptional legal guidance throughout the process.