LSI 2010 Real Estate Joint Ventures conference materials.pdf
LSI 2010 Real Estate Joint Ventures conference materials.pdf
LSI 2010 Real Estate Joint Ventures conference materials.pdf
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Gregory K. Johnson of Wright Runstad & Company<br />
Preston R. Sargent of Kennedy Associates <strong>Real</strong> <strong>Estate</strong> Counsel, LP<br />
Speaker 5: 10<br />
Speaker 6: 10<br />
TOP TEN “DO’s and DON’Ts”<br />
(From an Active Institutional Investor’s Perspective)<br />
19<br />
10. Do Create Deal Summary/Abstract<br />
• During or immediately after closing by deal person<br />
9. Don’t Waste Time/Words/Money on 1% Probability Stuff<br />
• Simple straight-forward resolutions<br />
8. Do Take Time to Run Through “What Ifs”<br />
• Be expansive/out of the box<br />
• Market conditions change<br />
• JV partner can be very “creative”<br />
7. Don’t Partner with Someone for Whom This Deal is “Their Life”<br />
• Even slight divergence of interests can be enormously painful<br />
• Having all the $’s/power doesn't necessarily avoid problems<br />
6. Do Insist on Appropriate “Shoot Out” Provision<br />
• Ultimate dispute resolution tool<br />
• Makes “divorce” less cumbersome/costly<br />
20<br />
Law Seminars International | <strong>Real</strong> <strong>Estate</strong> <strong>Joint</strong> <strong>Ventures</strong> and Funds | 02/08/10 in Seattle, WA
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