Fundamentals of Real Estate Capital Formation:
The legal building blocks of real estate joint ventures, syndications and funds.
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…
Jason Powell
A real estate fund exits its first three investments at strong returns. Carry is distributed to the GP entity, which…
Jason Powell
A real estate fund closes its first institutional raise. Two founding principals split the promoted interest equally. Three years into…
Jason Powell
A real estate fund closes. The GP entity has three principals: one who spent the prior two years building the…