Agenda- Eastern Standard Time

Joint venture partners are operating in a marketplace of dynamic change. How are the ripple effects of the pandemic and new challenges related to inflation, supply chain disruption and rising interest rates impacting joint venture structures? At the same time, there continues to be abundant capital chasing too few quality deals. This panel will explore how JV structures are being impacted by current market dynamics. Some of the issues that this panel will explore include:

• Legal and tax trends regarding the establishment and operation of joint ventures.
• Best practices for managing governance and control issues.
• Risk allocation and risk shifting measures that should be included in joint venture operating agreement to protect both sponsors and equity partners.

Both sponsors and equity partners are recognizing the efficiencies to be gained in doing programmatic joint ventures. This panel will take a deeper dive into what’s driving this trend, how both parties can benefit and key aspects to consider when structuring programmatic partnerships.

• What are the pros and cons of doing programmatic joint ventures versus single-asset deals?
• What are the key agreement terms to consider and negotiate?
• What are some best practices for negotiating an exit on programmatic joint ventures?
• What are some alternative structures for programmatic joint ventures?

The U.S. continues to be a top global target for foreign capital. Cross-border investors can be an attractive source of equity capital for sponsors. This panel will explore some of the key nuances involved in working with foreign capital partners. Topics addressed include:

• Overview of key differences to consider when working with foreign capital partners, including legal, tax and regulatory considerations.
• Best practices in due diligence and underwriting of foreign partners.
• Discussion of the biggest risks and pitfalls of working with foreign investors and how to avoid them.

In an industry known for its creative deal structures, there’s always plenty to talk about. This workshop will focus on the financial anatomy of real estate joint venture funding in the current marketplace. Discussion topics will include: 

• Evaluation of the sources and providers of joint venture financing. 
• Economic structuring of the waterfall, preferred equity and carried interest.
• Analysis of the different funding vehicles, such as senior and subordinated debt, construction loans, acquisition and development loans, mezzanine financing and shared appreciation loans. 
• Analysis and discussion of short-term financing options, such as Debtor in Possession (DIP) loans, mini-perms, rehab loans, bridge loans, quick closing loans for acquisitions and discounted payoff (DPO) scenarios.