According to the INREV Investment Intension Survey, Joint Ventures and Club Deals are the second preferred route of entry of capital for real estate allocations with 40.0% of investors expecting to increase their allocations to this product in 2018.
With institutional investors in search of greater involvement with their fund managers and more control over their investments, the market has witnessed a shift toward indirect investment arrangements with fewer investor.
In this INREV one-day course participants will have the chance to examine market practice and developments, the principal definitions and characteristics of Joint Ventures and Club Deals, common structures and their tax considerations.
The course will provide delegates with a better understanding of the issues that often arise in the formation, operation and termination of real estate joint ventures and club deals and further guidance in managing potential issues.
It will cover the following topics:
- Rationale for investing through JVs or CDs from both the investor and fund manager perspectives
- Definitions and business terms
- Selecting the right partners: are JVs and CDs for everyone?
- Corporate governance and operational aspects
- Lessons learnt
Who should attend the course?
The course is aimed at experienced professionals with several years of practice within the non-listed real estate investment industry. Course participants include institutional investors and fund managers who are currently considering entering a Joint Venture or Club Deal, or who are already involved in managing such products and wish to improve their knowledge of various related aspects.
Upon completion of the course participants will be able to:
- Understand the key business and legal terms and structures in real estate Joint Ventures and Club Deals
- Have a good overview of the products including their common contractual provisions and liquidity mechanisms
- Gain specific knowledge concerning execution and operational risks
- Identify potential areas of dispute and misalignment
This course qualifies towards the INREV/ Henley Certificate