Joint ventures and recapitalizations.
We advise landowners and property owners who want to participate in the upside of their asset rather than sell it outright. That includes joint ventures with developers and operators, recapitalizations with new equity partners, and ground-lease structures that retain the fee.
What we do.
We model the alternatives side by side, an outright sale, a joint venture, a recapitalization, or a ground lease, and identify and introduce the right partners, whether developers, operators, or capital sources.
We work alongside the owner's counsel and accountants on the structure, including the value credited for contributed land or property, preferred return, promote, and control rights, and we represent the owner through term sheet, documentation, and closing.
When it makes sense.
A joint venture or recapitalization is often the right answer for a landowner whose site has development potential but who does not want to build alone; for a family that wants to defer a taxable sale while bringing in expertise or capital; for an owner of an under-utilized property whose partner can reposition it; and for a partnership where one side wants liquidity and the other wants to stay in.
Who we work with.
Landowners, families and estates, owners of under-utilized or transitional properties, and developers and operators seeking sites or capital partners across the tri-state area.
Market coverage.
The five boroughs, Long Island, Westchester and the Hudson Valley, northern and central New Jersey, and Connecticut.
Keep the asset and bring in a partner?
We will model the alternatives side by side and tell you which one we would take.