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.
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- Represented an affiliate of Vista Investment Group, LLC in connection with a joint venture with an affiliate of PIMCO Investment Management Co LLC, and we represented the joint venture in the acquisition of the Vasona Technology Park located in Campbell, California for $113,300,000. The acquisition was financed by Wells Fargo Bank.
- Represented Beverly Pacific in connection with joint venture with Redwood Urban for the acquisition of the Jefferson at Hollywood complex for $132,500,000 comprising of 270 luxury apartments and 8,850 square feet of retail and restaurant space.
- Represented The Bascom Group, as sponsor’s joint venture counsel, in connection with the acquisition of a 406-unit multifamily project located in the city of Santa Ana, CA, with a purchase price of $94,000,000.
- Represented an affiliate of Harbor Associates, LLC, in connection with the acquisition, financing and sale leaseback of an office building located in Los Angeles, CA from Spanish Broadcasting System, Inc., for $14,700,000. We also represented Harbor Associates, LLC in connection with a joint venture between Harbor Associates and Stockbridge Capital Group LLC. The acquisition and post-acquisition capital improvements were financed by CopperPoint Mutual Insurance Company.
- Represented BLVD Partners in a joint venture with a high-net worth family office in connection with the acquisition and redevelopment of a mixed-use, multi-family/retail complex in the Arts District area of Downtown Los Angeles, California.
- Represented an affiliate of M West Holdings, LLC in connection with the acquisition of NoHo Lofts, a 292-unit multi-family apartment complex located in North Hollywood’s Arts District from Redrock Noho Residential LLC for $102,500,000. JV equity was provided by KBS and financing was provided by loan from Wells Fargo.
- Represented an affiliate of Vista Investment Group, LLC in connection with a joint venture with Acre Valley Real Estate Capital LLC and the joint venture’s acquisition of an office park in Oregon for $29,300,000. The acquisition was financed by RGA Reinsurance Company.
- Represented TruAmerica in a joint venture with Berkshire Hathaway in connection with the acquisition of a new construction multi-family property in Phoenix, Arizona.
- Represented Mosaic Real Estate Investors LLC in connection with a preferred equity transaction whereby they acquired a preferred equity position in a joint venture with OMEK Holdings for the purpose of renovating and converting a 10-unit apartment building located at 58 West 75th Street in the Borough of Manhattan, City and State of New York into a single family mansion.
- Represented an affiliate of Redwood-Kairos Real Estate Value Fund IV, LLP in a joint venture with Cocke, Finkelstein, Inc. (“CFI”), to purchase a 146-unit multifamily residential project in Naples, Florida. The property purchase price of $28,200,000 was funded in part by Northmarq Capital, LLC.