Jones Day - Services - Real Estate Funds

Breadth of Experience

Jones Day's Real Estate Funds practice represents market-leading sponsors and lead investors in real estate fund formations and represents many of the largest and most active real estate private equity funds in their ongoing acquisition, disposition, financing and asset management activities in the U.S., U.K., Europe, Asia and Latin America. Our diverse practice includes formation and representation of opportunity funds, value added funds, core funds, global funds and product and geographically focused funds structured to best achieve the sponsors' and investors' business, tax and regulatory goals.

Real Estate Fund Formation

Jones Day regularly advises sponsors and principals of real estate investment and opportunity funds, ranging from new sponsors, and experienced management groups beginning new ventures to well-established investment management firms. Members of the Real Estate Funds practice regularly work with members of our Private Equity practice involved in the formation of non-real estate private equity funds, giving them a broad perspective on current private equity issues and deal terms to complement their thorough knowledge of the real estate funds market.

Our fund formation advice includes assisting sponsors and principals in structuring their internal organizations, developing sponsor-carried interest vehicles and/or fee management companies and related agreements, as well as traditional fundraising activities - negotiations with the full range of investors, including private and public pension funds, university endowments, private foundations, U.S. and non-U.S. institutional investors, family offices and high net worth individuals and funds-of-funds - and also includes establishment of fund subscription credit facilities.

Our lawyers have closed real estate funds as U.S. and U.K. limited partnerships, limited liability companies, REITs, Dutch C.V.s, Jersey Unit Trusts, Jersey Limited Companies, registered and unregistered Luxembourg vehicles, and various other collective investment vehicles designed to provide maximum investment flexibility given the nature and location of the fund's investors, advisers, and proposed investments. We also provide Investment Advisers Act, Investment Company Act, Financial Services and Markets Act, and other securities law and regulatory advice, and cross-border tax advice and ERISA advice in forming and maintaining VCOC and REOC structures, where made necessary as a result of the fund's investor base.

Real Estate Fund Investments

While our Real Estate Funds practice provides assistance with fundraising activities, lawyers in our Real Estate Capital Markets practice represents a number of market leading funds in their ongoing acquisition, disposition, financing, and asset management activities, from initial investments to fund liquidation and exit. We have negotiated direct real estate investments, equity joint ventures, public and private real estate company acquisitions, and the placement of secured, mezzanine, and participating debt. Our tax and employment lawyers provide our real estate fund clients with ongoing ERISA advice, where the fund's investor base dictates, in order to structure individual transactions as permissible investments under the "plan assets" regulations and to address ongoing compliance and fiduciary issues and to minimize the risks of UBTI to optimize results for U.S. tax exempt investors in the fund.

Real Estate Fund Investors

Our Real Estate Funds lawyers have also represented many of the most active lead investors and investment advisers in making alternative asset investments and investments in U.S., U.K., European, Asian, and global real estate funds. We have developed procedures for quickly and efficiently analyzing and negotiating fund and subscription documents; negotiating co-investment agreements and forming co-investment vehicles; negotiating investor documentation for subscription-based credit facilities; providing ERISA and tax advice and analyzing proposed VCOC and REOC structures, where appropriate; and analyzing proposed tax structures in cross-border funds given the locale of the fund and type of entity employed.

Contact(s)

Robert C. Lee
Chicago
Tel: 1.312.782.3939
E-mail

Mark V. Minton
Dallas
Tel: 1.214.220.3939
E-mail

Kent R. Richey
New York
Tel: 1.212.326.3939
E-mail

Neil Seaton
London
Tel: 44.20.7039.5959
E-mail

Jean-Louis Martin
Paris
Tel: 33.1.56.59.39.39
E-mail

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Lawyers Staff Overview Experience Professionals Publications Contact(s) Robert C. Lee Chicago Tel: 1.312.782.3939 E-mail Mark V. Minton Dallas Tel: 1.214.220.3939 E-mail Kent R. Richey New York Tel: 1.212.326.3939 E-mail Neil Seaton London Tel: 44.20.7039.5959 E-mail Jean-Louis Martin Paris Tel: 33.1.56.59.39.39 E-mail Main Practice Real Estate	Breadth of Experience Jones Day's Real Estate Funds practice represents market-leading sponsors and lead investors in real estate fund formations and represents many of the largest and most active real estate private equity funds in their ongoing acquisition, disposition, financing and asset management activities in the U.S., U.K., Europe, Asia and Latin America. Our diverse practice includes formation and representation of opportunity funds, value added funds, core funds, global funds and product and geographically focused funds structured to best achieve the sponsors' and investors' business, tax and regulatory goals. Real Estate Fund Formation Jones Day regularly advises sponsors and principals of real estate investment and opportunity funds, ranging from new sponsors, and experienced management groups beginning new ventures to well-established investment management firms. Members of the Real Estate Funds practice regularly work with members of our Private Equity practice involved in the formation of non-real estate private equity funds, giving them a broad perspective on current private equity issues and deal terms to complement their thorough knowledge of the real estate funds market. Our fund formation advice includes assisting sponsors and principals in structuring their internal organizations, developing sponsor-carried interest vehicles and/or fee management companies and related agreements, as well as traditional fundraising activities - negotiations with the full range of investors, including private and public pension funds, university endowments, private foundations, U.S. and non-U.S. institutional investors, family offices and high net worth individuals and funds-of-funds - and also includes establishment of fund subscription credit facilities. Our lawyers have closed real estate funds as U.S. and U.K. limited partnerships, limited liability companies, REITs, Dutch C.V.s, Jersey Unit Trusts, Jersey Limited Companies, registered and unregistered Luxembourg vehicles, and various other collective investment vehicles designed to provide maximum investment flexibility given the nature and location of the fund's investors, advisers, and proposed investments. We also provide Investment Advisers Act, Investment Company Act, Financial Services and Markets Act, and other securities law and regulatory advice, and cross-border tax advice and ERISA advice in forming and maintaining VCOC and REOC structures, where made necessary as a result of the fund's investor base. Real Estate Fund Investments While our Real Estate Funds practice provides assistance with fundraising activities, lawyers in our Real Estate Capital Markets practice represents a number of market leading funds in their ongoing acquisition, disposition, financing, and asset management activities, from initial investments to fund liquidation and exit. We have negotiated direct real estate investments, equity joint ventures, public and private real estate company acquisitions, and the placement of secured, mezzanine, and participating debt. Our tax and employment lawyers provide our real estate fund clients with ongoing ERISA advice, where the fund's investor base dictates, in order to structure individual transactions as permissible investments under the "plan assets" regulations and to address ongoing compliance and fiduciary issues and to minimize the risks of UBTI to optimize results for U.S. tax exempt investors in the fund. Real Estate Fund Investors Our Real Estate Funds lawyers have also represented many of the most active lead investors and investment advisers in making alternative asset investments and investments in U.S., U.K., European, Asian, and global real estate funds. We have developed procedures for quickly and efficiently analyzing and negotiating fund and subscription documents; negotiating co-investment agreements and forming co-investment vehicles; negotiating investor documentation for subscription-based credit facilities; providing ERISA and tax advice and analyzing proposed VCOC and REOC structures, where appropriate; and analyzing proposed tax structures in cross-border funds given the locale of the fund and type of entity employed. Contact(s) Robert C. Lee Chicago Tel: 1.312.782.3939 E-mail Mark V. Minton Dallas Tel: 1.214.220.3939 E-mail Kent R. Richey New York Tel: 1.212.326.3939 E-mail Neil Seaton London Tel: 44.20.7039.5959 E-mail Jean-Louis Martin Paris Tel: 33.1.56.59.39.39 E-mail