real estate joint ventures: opportunities and legal risks
TRANSCRIPT
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Real Estate Joint Ventures:
Opportunities and Legal Risks Negotiating and Structuring the JV Operating Agreement
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TUESDAY, OCTOBER 2, 2012
Presenting a live 90-minute webinar with interactive Q&A
Michael Ray, Partner, Pircher Nichols & Meeks, Los Angeles
Daniel B. Guggenheim, Senior Associate, Pircher Nichols & Meeks, Los Angeles
Michael D. Soejoto, Pircher Nichols & Meeks, Los Angeles
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Real Estate JVs
__________________________________________________________
Strafford Webinar:
“Real Estate Joint Ventures:
Opportunities and Legal Risks”
October 2, 2012
Daniel B. Guggenheim, Esq.
Michael R. Ray, Esq.
Michael D. Soejoto, Esq.
© 2012 Nothing herein is to be construed as legal, tax, investment, business or insurance advice.
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ASSUMPTIONS REGARDING TYPICAL
REAL ESTATE JOINT VENTURE
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PRE-FORMATION ISSUES:
LETTERS OF INTENT
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MANAGEMENT ISSUES:
GOVERNANCE AND CONTROL GENERALLY
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MANAGEMENT ISSUES:
OTHER IMPORTANT DETAILS
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SPONSOR AS SYNDICATOR:
ONE SIZE DOES NOT FIT ALL
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SPONSOR AS SYNDICATOR:
REGULATORY ISSUES
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SPONSOR AS SYNDICATOR:
OTHER CONSIDERATIONS
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INITIAL CONTRIBUTIONS:
GENERALLY
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INITIAL CONTRIBUTIONS:
TAX CONSIDERATIONS
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ADDITIONAL CONTRIBUTIONS
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REAL PROPERTY CONTRIBUTIONS
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CAPITAL CALL LOGISTICS
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COMMON CONTRIBUTION DEFAULT
REMEDIES: GENERALLY
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COMMON CONTRIBUTION DEFAULT
REMEDIES: TAX CONSIDERATIONS
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DISTRIBUTION HURDLES
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DISTRIBUTION STRUCTURES
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TAX ALLOCATIONS
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RELATED PARTY AGREEMENTS
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EXIT STRATEGIES:
BIG PICTURE ISSUES
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COMMON TRIGGERS FOR AN EXIT
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TYPICAL EXIT MECHANISMS
(MORE THAN ONE MAY BE USED)
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VALUATION ISSUES:
GENERALLY
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VALUATION ISSUES:
TAX CONSIDERATIONS
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OTHER OVERLOOKED ISSUES WITH EXITS
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