Overview
Cox Castle has a premier practice representing institutional investors in a broad range of real estate and real estate-related investments. We advise institutional clients such as public pension funds, fund of funds and sovereign wealth funds in their investment activities in commingled funds structured as limited partnerships, limited liability companies, REITS, foreign investment vehicles and closed- and open-end investment companies. We work with funds with a wide variety of investment objectives, including domestic and foreign based real estate and real estate-related properties, debt, infrastructure and private equity, across a range of jurisdictions throughout the United States and around the world.
We represent limited partner investors in hundreds of funds, ranging from multi-billion-dollar funds to small club deals, as well as co-investment vehicles and sidecars. We work extensively with our clients to negotiate appropriate rights and remedies on issues critical to their investment objectives, including Environmental, Social and Governance (ESG) goals, fiduciary obligations, ERISA and tax, debt and liquidity issues.
Our areas of focus for institutional investor clients include:
- Acquisitions and Dispositions
- Private Equity, Joint Ventures and Commingled Funds
- Tangible Asset and Infrastructure Investments
- Debt and Preferred Equity Financing
- Investment Advisory/Management Agreements
- Real Estate Securitization
- Land Use, Entitlement, Zoning, Permitting Processes and Development Rights
- Leasing
- Fiduciary Duties and Investment Advisors Act
- Environmental Law and Hazardous Substances (Counseling and Litigation)
- Tax Analysis/Strategies
- Construction, Design and Engineering Contracts and Disputes
- Property Management, Operations and Reciprocal Easement Agreements
- Litigation, Arbitration, Mediation and other Alternative Dispute Resolution
- Real Estate Workouts and Restructures
Our depth of experience representing institutions gives us a unique perspective on what is “market,” how to negotiate efficiently and effectively and how to achieve clients’ goals in a timely and cost-efficient manner. We pride ourselves on our commitment to serving as an integrated part of the client’s team and we appreciate the importance of understanding the client’s investment goals and policies as a critical component of our analysis of legal issues.
Experience
- Represented a pension fund investor in the negotiation and formation of a joint venture platform of up to 400 million Euros in a series of joint ventures structured as Luxembourg limited liability companies, with a European industrial developer company, to acquire, develop, finance, lease, and operate industrial logistic properties in portions of Europe. This transaction required the negotiation and documentation of the joint venture agreements, entity formation, resolutions and other corporate documents, intra-company loan agreements and related agreements. In addition, significant discussion and analysis has been undertaken in connection with the intricate proposed structures for holding title to real estate in each of Poland, Germany, Czech Republic, Spain and the Netherlands, including the evaluation and negotiation of detailed legal opinions regarding the international tax and corporate aspects of the transaction.
- Represented a pension fund investor in the formation of two joint ventures with an investment management company, each structured as a Delaware statutory trust, with an aggregate commitment by the investor of $700 million, to acquire, renovate, finance, lease, and operate office, multi-family, residential, retail and industrial projects in Japan and Australia.
- Represented a California pension fund in as a limited partner for a £75 million commitment to a closed-end fund formed in Guernsey, and in the associated side car investment for non-core real estate investments in the United Kingdom.
- Represented a public pension fund in the acquisition of 13.3% of the interests in a 750 Million Euro closed-end fund for investment in commercial and residential properties throughout the Nordic Region, primarily in Sweden, Finland, Norway and Denmark.
- Represented a public pension fund in its $75 million investment in a commingled fund formed to acquire, hold, manage, own, lease, operate, maintain, finance, refinance, mortgage, encumber, improve, develop, rent, dispose of and otherwise deal with improved and unimproved real property located in Latin America, including, Mexico, South America, Central America and the Caribbean.