Fundamentals of Real Estate Capital Formation:
The legal building blocks of real estate joint ventures, syndications and funds.
Ask two real estate sponsors to describe their waterfall structures and you will often get the same high-level answer: eight…
Jason Powell
Ask any experienced real estate securities attorney what the most important document in a syndication is, and the answer is…
Jason Powell
Sponsors do not just choose between raising capital and not raising capital. They also choose the structure through which that…
Jason Powell
Most real estate sponsors focus on the deal, the property, and the capital stack. SEC enforcement, by contrast, usually starts…
Jason Powell
State Blue Sky laws are one of the most frequently underestimated compliance obligations in real estate syndications. Most sponsors understand…
Jason Powell
This is one of the most consequential questions a real estate sponsor can face — and one of the most…
Jason Powell
Choosing between Rule 506(b) and Rule 506(c) is not a legal formality. It is a strategic decision that shapes who…
Jason Powell
Regulation A gives real estate sponsors a way to raise capital from the public without going through a full registered…
Jason Powell
Regulation D is the legal backbone of most private real estate capital raises in the United States. If you are…
Jason Powell
Frequently real estate syndication/fund clients ask who they can and cannot raise capital from when conducting a securities offering using…
Jason Powell
- 506 b506 cAccredited InvestorsBlue Sky LawsCapital RaisingCoInvestmentCrowdfundingDelaware Statutory TrustsDistribution WaterfallDistributionsDSTFundraisingGeneral PartnerInvestment TermsInvestor PlacementInvestor RelationsJoint VenturesKYC (Know Your Customer)Limited Liability Company AgreementLimited PartnersLimited Partnership AgreementLPAManagement FeesManagerManaging MemberMarketing Your OfferingMembersOffering DocumentsOperating AgreementPitch DecksPPM (Private Placement Memorandum)Preferred ReturnPrivate PlacementReal Estate FundReal Estate SyndicationRegulation ARegulation CFRegulation DRegulation SSEC ComplianceSophisticated InvestorsSponsor FeesSubscription AgreementTenant In CommonTICsUnderwriting
Launching this blog is driven by a simple idea: in real estate, structure is strategy. Behind every successful development, acquisition,…