Real Estate Joint Ventures

REAL ESTATE JOINT VENTURES

As real estate transactions grow increasingly complex, clients require legal sophistication and broad industry knowledge to ensure long term success. Our joint ventures practice provides clients with a comprehensive understanding of the issues that arise during the life cycle of a joint venture, ranging from formation concerns to exit rights. We are highly skilled in bringing together parties with dynamic strengths and similar goals in both the United States and Europe.

Goodwin has long-standing relationships with key Goodwin’s collaborative and multidisciplinary team of players in the real estate investment management over 150 real estate lawyers is involved in many of the industry, and deep market knowledge and experience, industry’s most significant real estate transactions. Our which allows us to keep our clients abreast of the latest connectivity and awareness within the market allows developments and provide them with a competitive us to focus on efficiently leveraging the highest quality edge and negotiating advantage. The depth of our experience to benefit all of our clients. experience and unwavering commitment to the real estate industry sets us apart from other firms.

REPRESENTATIVE CLIENTS

AEW Capital Boston Properties HEI Hospitality Rockwood Capital Management Brookfield Office Kennedy-Wilson Savanna Capital Partners Alcion Real Estate Properties Holdings Partners USAA Real Estate Five Mile Capital Partners LBA Realty Company Ares Management Forest City Realty Trust Normandy Real Estate Wheelock Street Capital AvalonBay Communities Partners GreenOak Real Estate Wolff Holdings Beacon Capital Advisors New York Life Investment Management RECOGNITION

• Chambers USA consistently ranks Goodwin • Chambers UK 2018 ranked nine of Goodwin’s Band 1 in Real Estate and Capital Markets (REITS), London lawyers for excellence. and recognized 21 of our real estate lawyers for • Commercial Property Executive ranked Goodwin #1 excellence in 2017. Law Firm in 2017. • Real Estate Alert recognized Goodwin in its • Law360 named Goodwin as one of the 2017 Real involvement in 10 out of the top 50 office property Estate Groups of the Year. sales in 2017, one of which came in as the #1 sale in New York City.

REPRESENTATIVE TRANSACTIONS

• Barings Real Estate Advisors joint venture for the • New Balance Athletics joint venture for the sale of a Frankfurt office property Astropark to TLF development of The Residences at Boston Immobilien for a purchase price of €97.2 million. Landing, a 384,000 square foot Class A residential apartment building with ground level retail. • Boston Properties acquisition of a 95% interest in a joint venture for the $197 million land acquisition • New York Life Real Estate Investors joint venture and development of the “Transbay Tower” in with Ilmarinen Mutual Pension Insurance Company. San Francisco, California. The Transbay Tower is New York Life will retain 51% interest and will anticipated to be a 1.4 million square foot, 61 story continue to acquire office properties with the goal office building, which will be tallest building on the of a $1.2 billion portfolio. West Coast. • Primestor Development in the formation of • Brookfield Financial Properties joint venture with a joint venture that includes 100% interest in an affiliate of HNA Properties Holdings for the seven shopping centers with an investment of sale of 245 Park Avenue in Manhattan for $2.2 approximately $345 million. billion. This was one of the biggest single-asset • Savanna Capital Partners creation of a co-invest transactions in New York City history. structure and related joint venture in order to allow • Brookfield Office Properties 50/50 joint venture for the Fund’s limited partners to participate in the with Concord Pacific to develop a residential $257.5 million acquisition of the Falchi building in property at Principal Place at Shoreditch in London. New York.

• GreenOak Real Estate Advisors in the formation of a joint venture for the acquisition of One, Two and Three Center Plaza in Boston, Massachusetts for a gross purchase price of $365 million.

This informational piece, which may be considered advertising under the ethical rules of certain jurisdictions, is February 2018 provided on the understanding that it does not constitute the rendering of legal advice or other professional advice by Goodwin Procter or its lawyers. Prior results do not guarantee a similar outcome. Goodwin Procter is an international legal practice carried on by Goodwin Procter LLP and its affiliated entities. For further information about our offices and the regulatory regimes that apply to them, please refer to http://www.goodwinlaw.com/Legal-Notices. © 2018 Goodwin Procter. All rights reserved.