Practice/Industry Group Overview
Greenberg Traurig’s lawyers counsel investment fund sponsors and investors at every stage of the real estate investment lifecycle. Our team has a thorough understanding of fund structures and securities, tax and ERISA issues, taking into account specific kinds of investor pools, target markets and exit strategies. We maintain critical institutional knowledge of constantly evolving trends within the domestic and global real estate markets and the real estate investment fund world. We have the ability to leverage the size and strength of our internationally recognized Real Estate Practice to assist clients in acquiring, financing and disposing of a myriad of portfolio investments, independently or through joint ventures with developers, public companies, REITs and other real estate investment funds.
A Multidisciplinary Team
The capabilities of our real estate funds team are multidisciplinary and unite the knowledge and experience of our Real Estate, Corporate & Securities and Tax Practices. Our lawyers are well versed in a variety of legal disciplines, including joint ventures, corporate finance, financial services regulatory requirements, securities regulations, international and domestic tax, and ERISA. The resources of our firm enable us to offer our clients an array of sophisticated legal services to address the many facets of their real estate private equity ventures.
Real Estate Fund Capabilities
GT represents clients in both the formation and ongoing operation of a range of non-registered funds, including private equity real estate funds, real estate limited partnerships and non-traded REITs. Our attorneys have advised investment fund sponsors and investors in connection with domestic and global retail, office, hotel, industrial, land development and distressed asset level acquisitions, financings and dispositions, ranging in size from several hundred million to several billion dollars. We provide fund and joint venture “best practice” business structuring advice to sponsors of real estate funds, REITs and their local partners and investors, nationally and globally.
In addition, we represent many investors in private equity funds, including pension fund managers, endowment funds, financial institutions and high-net-worth individuals. These representations provide us with both invaluable insight into the trends and structures which funds are adopting and an understanding of investor-specific concerns when investing in funds.
We advise clients throughout the real estate investment lifecycle. Our attorneys:
- Provide clients with state-of-the-art knowledge of real estate market trends and real estate investment deal terms
- Advise on the structure and formation of real estate funds, funds of funds and investments to reduce sponsor risk, decrease costs and increase sponsor flexibility
- Offer clients wide-ranging knowledge of available alternatives on each issue
- Apply structures to increase after-tax incentive payments to sponsors, owners and employees
- Provide a full range of real estate legal services, including diligence, planning, management, financing, leasing, operations and dispositions, and workouts and debt restructurings
- Provide tax advice and executive compensation structuring for fund general partner groups
- Negotiate internal agreements, investor side letters and investment in real estate funds
- Negotiate subscription lines of credit with lenders
In addition, our lawyers have related know-how on matters involving the Investment Company Act of 1940, the Investment Advisers Act of 1940 and various state securities regulations. We represent fund clients on most aspects of SEC registration and disclosure requirements, including advising clients in the event of routine and “for cause” inspections or other proceedings initiated by the SEC.
We also have experience representing closed-end private equity funds electing to do business as Business Development Company (BDC) entities, as well as advising fund entities adopting structures exempted from registration under the Investment Company Act of 1940. In addition, our lawyers have experience negotiating custody and administrative agreements, asset management contracts and prime brokerage agreements with third parties on behalf of our clients.
Fund Investment and Liquidation
We represent fund clients in structuring and negotiating real estate asset acquisitions and subsequent dispositions throughout the United States and abroad. Our real estate lawyers serve as counsel in connection with the purchase, sale, sale/leaseback and financing of most types of properties pursuant to specific fund objectives. We also represent funds in connection with joint ventures with developers, public companies, REITs and other private equity funds to acquire and redevelop real estate. The firm’s strong international profile further qualifies us to take on complex cross-border transactions with great efficiency.