In today’s world of complex real estate transactions, joint ventures are a common vehicle for blending development expertise and local knowledge with capital sources. These capital sources include institutional private equity funds, public funds, family offices, high-net worth individuals and tax-exempt investors, including retirement funds and sovereign funds. The lawyers at Sklar Kirsh have extensive experience in the formation of joint ventures, representing both sponsors/operators and capital sources in connection with the acquisition, development and financing of all types of real estate products, including multi-family, office, hospitality, medical, retail, mixed use, special venues and land development. Additionally, our extensive experience covers the formation of joint ventures as separate legal entities as well as the programmatic joint ventures and strategic alliances operated through complex contractual arrangements with multi-party strategic investments.
SEE ALL Representative Matters
- Represented 222 West Sixth Street, LLC, an affiliate of Harbor Associates, LLC, in their acquisition of an office building located in San Pedro, California for a purchase price of $36,000,000, as well as in connection with a $33,670,000 loan from Pine River.
- Represented GFO Echo, LLC, an affiliate of Gupta Family Office (formerly Redbridge Capital, LLC) in connection with a joint venture with Arden Qualified Opportunity Zone, L.P. (an affiliate of the Arden Group) formed for the construction of a $66,000,000 student housing project near UNLV in Las Vegas, Nevada. Arden was represented by its in-house counsel as well as Baker & McKenzie.
- Represented Brasa Investments LLC (an affiliate of Brasa Capital, LLC) in connection with a joint venture with LO Exchange Miramar LLC (an affiliate of Lincoln Property Company) for the purpose of acquiring the Exchange at Miramar, a business park comprised of nine buildings and almost 190,000 square feet in San Diego, California. We also represented a subsidiary of the joint venture in connection with a $7,800,000 acquisition loan from Delaware Life Insurance Company of New York secured by the sub-leasehold interest in such property. Acquisition counsel was Tullius Law Group. Counsel for the JV partner was Powell Coleman & Arnold LLP. Lender’s counsel was Seyfarth Shaw LLP.
- Represented Tides Equities, LLC in connection with the $24,000,000 joint venture acquisition of the Sterling on 28th Apartments, a 224-unit apartment complex in Phoenix, Arizona. Equity was provided by Asset Management Consultants, Inc., which was represented by Davies Lemmis Raphaely. Financing was provided MF-1 Capital LLC which was represented by Holland & Knight LLP.
- Represented Tides Equities, LLC in connection with the $56,700,000 joint venture acquisition of The Park at Deer Valley, a 436-unit apartment community located in Phoenix, Arizona. Equity was provided by Beverly Pacific, LLC, which was represented by Eisner, PC. Seller was represented by Kingsley Law Firm LLC. Financing was provided Colony Capital Acquisitions, LLC which was represented by Polsinelli, PC.
- Represented CS 910 LP, an affiliate of Turnstone Acquisitions LP, in its acquisition of a multi-family property located in Houston, Texas known as Portofino Landing Apartments for a purchase price of $28,072,000. We also assisted our client in the formation of their limited partnership with their joint venture partner and assisted in their acquisition of a loan from LegacyTexas Bank in the amount of $23,350,000. The lender was represented by Jackson Walker LLP and the seller was represented by Tribble Ross LLP. Local Texas counsel was provided by Barnes & Thornburg LLP.
- Represented 3708 NE Owner LLC, an affiliate of Vista Investment Group, LLC, in its acquisition of a 387-unit multi-family residential project known as Green Leaf River Pointe Apartments located in Vancouver, Washington for a total purchase price of $68,800,000. Our client acquired the property as a joint venture with Goldman Sachs & Co. LLC, who was represented by Fried, Frank, Harris, Shriver & Jacobson LLP. To acquire the property our client obtained a loan in the amount of $53,435,000 from Canadian Imperial Bank of Commerce. The lender was represented by Morrison & Foerster LLP and the seller was represented by Starr Finley LLP.
- Represented 5008 Hazeltine Associates LLC and 5060 Hazeltine Associates LLC, affiliates of NextGen Apartments LLC, in their acquisition of two multi-family residential properties located in the Sherman Oaks area of Los Angeles for a total purchase price of $10,925,000. Our client acquired the properties as a joint venture with Hanover Financial LLC, who was represented by Abram Roy LLP. Additionally, we assisted the buyers in obtaining a loan to acquire the properties in the amount of $9,205,000 from Aetna Life Insurance Company, who was represented by Carlton Fields LLP.
- Represented Tides Equities, LLC in connection with the $39,750,000 joint venture acquisition of the Modern on the Rail Apartments, a 488-unit apartment complex in Phoenix, Arizona. Equity was provided by Asset Management Consultants, Inc., which was represented by Davies Lemmis Raphaely. Financing was provided Colony Capital Acquisitions, LLC which was represented by Polsinelli, PC.
- Represented an affiliate of Redwood-Kairos Real Estate Value Fund VI, LLP, the equity partner in a joint venture with Knightvest Capital to purchase a 252-unit multi-family residential property in Conroe, Texas known as Regency at Woodland Townhomes. The purchase was funded in part by a $31,314,000 loan originated by Berkeley Point Capital, LLC, d/b/a Newmark Knight Frank to be assigned to Freddie Mac. Lender was represented by Cassin & Cassin, LLP. Knghtvest Capital was represented by Baker Lopez PLLC.