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Investing in Joint Ventures and Club Deals

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With many institutional investors preferring to have greater involvement on strategy with investment managers and more control over their investments, the market for joint ventures (JV) and club deals (CD) structures continues to grow. According to the INREV Investment Intentions Survey, JVs and club deals are the second preferred route of entry of capital for real estate allocations.

This online course, which takes place over a series of four sessions across two weeks, gives participants the chance to examine market practice and developments as well as learn about the investment manager and investor perspective on these products. It will also examine regulatory, tax and structuring issues, and best practice for governance.

Through presentations from industry professionals as well as group discussions and a case study, participants will gain a better understanding of the opportunities that can be found in this type of investment vehicle from formation to operation.

The course will cover the following topics:

  • Rationale for investing through JVs or CDs from both the investor and investment manager perspectives including alignment and suitability;
  • Regulatory considerations and challenges for JVs and CDs;
  • Common structures and tax issues;
  • Governance and operational aspects;
  • Practical examples and lessons learned.

Who should attend the course?

The course is aimed at professionals with several years of practice within the non-listed real estate investment industry. Course participants include institutional investors and investment managers who are currently considering entering a JV or CD, 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 business case for JVs and CDs from manager and investor perspectives;
  • Understand the key business and legal terms and structures used for real estate JVs and CDs;
  • Have a good overview of governance provisions including decision-making frameworks, financing and liquidity mechanisms;
  • Gain specific knowledge concerning execution and operational risks;
  • Identify potential areas of dispute and misalignment.

This course is open to INREV members and non-members and counts towards the INREV/Henley Certificate for Non-listed Real Estate Investments.





Fees & Terms


Online Course for INREV members (€ 450)

Terms and conditions

Fee non-members: €450


1.1. This INREV online course is open to INREV members and non-members.  

1.2. For all attendees, the Membership Terms and Conditions fully apply. In the event of any conflict or inconsistency between any provisions of these course Terms and Conditions and the Membership Terms and Conditions, first these course Terms and Conditions and then the Membership Terms and Conditions shall prevail.

1.3. Attendees will hereinafter together be referred to as “Applicants”.

1.4. The costs of attending the training course (Attendance Fee) is €350 for members and €450 for non-members.

1.5. Admission to this course is subject to registration and subsequent written confirmation of that registration by INREV. Please note that limited seats per organisation are available (limited to two seats per member organisation and one seat per non-member organisation).

1.6. All personal data provided to INREV by Applicants, during the application process or afterwards, will be processed in accordance with the Privacy Statement of INREV, which can be found on the INREV website.


Cancellation and attendance policy

2.1. After registration for the online course, cancellation is possible if that cancellation request is written to training@inrev.org before Monday 09 January 2023

2.2 In case of a no-show the full course fee is due.

2.3 To deliver a successful course, active contribution is of huge importance and therefore we expect participants to attend all sessions live (incl. the break-out sessions and case studies). If you fail to attend a session, we are regrettably unable to grand you with the course Certificate of Attendance.

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