Fundamentals of Real Estate Capital Formation:
The legal building blocks of real estate joint ventures, syndications and funds.
A real estate sponsor is preparing for an institutional raise. The acquisition team spent three months assembling a track record…
Jason Powell
Two principals co-found a real estate investment firm. They raise their first fund together, close several acquisitions, and build a…
Jason Powell
An institutional LP commits $50 million to a real estate fund at the first close. During the negotiation, the sponsor…
Jason Powell
A real estate fund is eight months into its investment period. Three acquisitions have closed. The fund’s LP advisory committee…
Jason Powell
A real estate sponsor is in the middle of a first institutional raise. The fund’s strategy is compelling, the track…
Jason Powell
A real estate fund’s LP advisory committee (LPAC) is asked to approve a transaction in which an affiliated entity will…
Jason Powell
On August 29, 2025, the SEC charged Vanguard Advisers with failing to adequately disclose conflicts of interest in its Personal…
Jason Powell
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:…