Fundamentals of Real Estate Capital Formation:
The legal building blocks of real estate joint ventures, syndications and funds.
A real estate sponsor manages a flagship value-add fund with three years left in its investment period. It also manages…
Jason Powell
A real estate investment adviser manages two affiliated funds. Fund I is in its fourth year, past its investment period,…
Jason Powell
In September 2023, the SEC charged Prime Group Holdings LLC, a private equity firm focused on self-storage real estate, with…
Jason Powell
Most real estate sponsors understand, at least in principle, that the PPM cannot be misleading. What is harder in practice…
Jason Powell
A real estate sponsor launches a value-add apartment offering in January. The PPM reflects the deal as it was underwritten:…
Jason Powell
In fiscal year 2025, the SEC filed 456 enforcement actions and obtained orders for monetary relief totaling $17.9 billion. The…
Jason Powell
A real estate sponsor prepares to close the first tranche of a new offering. The PPM is polished, the property…
Jason Powell
A real estate sponsor shows an investor a well-produced pitch deck. The property is a value-add multifamily acquisition in a…
Jason Powell
A real estate fund closes its second institutional raise. The GP entity sits at the top of the governance structure….
Jason Powell
A real estate fund sponsor preparing for its first institutional raise sits across the table from a pension fund allocator….
Jason Powell
A real estate fund is three years into its investment period. The founding team has three principals. One of them…
Jason Powell
A limited partnership agreement runs to 120 pages. The distribution waterfall is three of them. Those three pages determine who…