Fundamentals of Real Estate Capital Formation:
The legal building blocks of real estate joint ventures, syndications and funds.
Real estate sponsors spend real energy designing the deal-level stack: the acquisition entity, the SPV holding title, the co-investment sleeve,…
Jason Powell
Real estate sponsors typically spend serious time and money on deal-level entity structure: the fund vehicle, the asset-holding SPVs, the…
Jason Powell
A real estate deal that looks compelling on a slide deck is not the same thing as a deal that…
Jason Powell
There is a predictable sequence to most real estate fund tax disputes. The fund closes on a good deal, the…
Jason Powell
The word ‘crowdfunding’ gets applied to a wide range of real estate capital raises, and that imprecision creates genuine confusion…
Jason Powell
Most real estate sponsors think about capital in one direction only: into deals. Find the asset, underwrite the opportunity, structure…
Jason Powell
Every real estate capital raise contains at least one moment when the sponsor is tempted to let the proforma do…
Jason Powell
Private funds are built around a straightforward proposition: investors commit capital for a defined period, the manager deploys it, and…
Jason Powell
Most real estate fund managers who hit the wall at $30 million or $50 million in assets under management do…
Jason Powell
There is a meaningful difference between completing a real estate syndication and building a real estate syndication platform. The former…
Jason Powell
Most real estate fund managers discover the gap between ‘institutional quality’ and ‘institutional ready’ the hard way: in the middle…
Jason Powell
The idea of launching a real estate fund sounds appealing at a certain stage of every sponsor’s career. You have…