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Cooley attorneys handle the structuring of investment and ownership vehicles in which clients, including investment banks, private equity firms and funds, invest in real estate properties.
Our work includes the formation of limited and general partnerships and joint ventures for the acquisition and development of commercial, residential, recreational and hotel projects throughout the United States, the Caribbean and Central America.
In connection with our joint ventures practice, we also provide an array of related legal services, including advice on corporate, antitrust and tax matters.
Representative transactions include advising:
- A private real estate firm in connection with:
- Joint ventures with institutional partners in numerous transactions for the acquisition of 15 open-air and enclosed shopping centers in Puerto Rico, the Ritz Carlton San Juan Hotel, Spa and Casino, the Radisson Ambassador Plaza Hotel & Casino, a warehouse/distribution center portfolio in Puerto Rico (20 buildings in five planned parks) and the McConnell Valdez office building in San Juan, Puerto Rico, and the private placement of equity interests for each acquisition.
- A joint venture through an offshore entity with a Costa Rica partner/developer for the development of a 49-acre, beach-front 300-room full-service Westin hotel in Papagayo, Costa Rica.
- A joint venture through an offshore entity with an operator to acquire and operate the Royal Decameron Beach Resort & Casino, an 820-room, all-inclusive resort with 182 villas and an 18-hole golf course in Panama.
- A joint venture with a local developer for the acquisition and development of the 962-acre Dorado Beach Resort in Puerto Rico, a separate joint venture with an institutional partner to invest in the operating joint venture and the private placement of equity interests in the transaction.
- Potomac Realty Capital, a private specialty mortgage and mezzanine real estate lender, in connection with raising in excess of $125 million in equity through a series of joint ventures and investment funds.
- A group of private real estate investors in the formation of several joint ventures with a national developer to acquire and develop a substantial footprint in New York City to develop a first-class office tower for the diamond business, as well as a second footprint in New York City to develop commercial real estate assets.
- A joint venture with a REIT in connection with the structured disposition of interests in 450 West 33rd Street, Manhattan, for $664 million in consideration.
- A public REIT in an equity investment in a joint venture that acquired and developed a ski resort in California.
- A public REIT in preferred equity investments in various limited partnerships and limited liability companies that owned and updated office buildings.
- Cambridge Realty LLC in connection with a joint venture with NorthStar Capital Investment Corp. to acquire, own and operate a $150 million portfolio of shopping centers in Puerto Rico.
- An investor group in connection with a $400+ million investment in C.W. Investments Limited Partnership, a Cayman Islands limited partnership that purchased the Canary Wharf real estate development in London.
- The Zeps/Lipinsky family in connection with the development of one of the largest luxury student housing projects in the nation. The project will be a dramatic improvement to San Diego State University. In addition, our team helped negotiate the joint venture between the family and a major private equity fund to allow the development.