Closed-End Real Estate Funds Formed to Invest in Tax Lien Certificates
J.I. Kislak, Inc.
Representation of J.I. Kislak, Inc., as sponsor of several closed-end real estate funds formed to invest in tax lien certificates in Florida, Alabama, Arizona, Colorado, Mississippi, New Jersey, and South Carolina. The funds raised over $110 million in equity and $75 million in debt. We handled the loan closings to leverage the acquisitions and assisted with all securities law compliance issues related to private placement of interests in the funds to prospective investors. The latest round was completed in 2020.
Representation of a debt fund and property fund in connection with separate private placement fund offerings of limited partnership interests. Upon completion of the offerings, the funds expect to raise a combined amount of up to $4.0 billion.
Representation of Lennar Corporation in the formation of Lennar Multifamily Venture (LMV), an equity fund/joint venture sponsored and managed by Lennar Multifamily Communities with global sovereign and institutional investors. The venture, with initial equity commitments of $1.1 billion, targets inv...
Advised Rialto Capital and Lennar Corporation in connection with the formation of two funds: (1) Rialto Real Estate Fund, LP, a $700 million closed-end real estate investment fund focused on distressed real estate investments, and (2) Rialto Real Estate Fund II, LP, a $1 billion real estate investme...