Corporate real estate

The principal corporate documents required for a corporate real estate (CRE) joint venture transaction involving the development of a property are:

  1. •

    the joint venture agreement (JVA), and

  2. •

    the articles of association (articles) of the joint venture company (JVC)

Additional documents that will be required are:

  1. •

    the property sale agreement

  2. •

    the development funding agreement

  3. •

    development management agreement

Property joint ventures

A property development joint venture allows the parties to it to:

  1. •

    share risk and also to place specialist risk with the relevant joint venture party, eg placing such risk with a developer

  2. •

    gain access to specialist experience and knowledge from a party with specialist market experience outside of its own normal course of business

  3. •

    combine specialist knowledge, expertise and resources to leverage the scale of a party’s usual operations in order to achieve greater returns or liquidity

For further information on the key considerations relevant specifically to structuring property joint ventures, see Practice Notes:

  1. •

    Property Joint Ventures—general issues

  2. •

    Property Joint Ventures—choosing the right structure

  3. •

    Types of development structures

For...

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