In most commercial real estate transactions, buyers understandably tend to focus on the economic terms – the purchase price, debt structure, and closing date. Those terms matter, but they are only part of the deal. Once a contract is signed, the due diligence period is the buyer’s opportunity to confirm whether the property can actually...
Business Transactions Blog
In today’s market, fund managers regularly find themselves needing additional capital and thinking they should send a capital call notice to existing investors. This sounds simple, and sometimes this is the right approach, but often what the fund manager wants is not a capital call at all and is actually a new offering. The consequences...
Signed into law on July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) reshapes the tax landscape for many transactions. The OBBBA is one of the most significant overhauls to the U.S. tax code since the Tax Cuts and Jobs Act of 2017 (“TCJA”). Buried in the headlines are several provisions with real, immediate...
With lower barriers to fund formation, more accessible technology, and a growing pool of sophisticated investors, the number of first-time fund managers has grown substantially. Generally speaking, this new wave of operators, executives, and investors is good for the market. However, many emerging managers are excellent at identifying deals but less experienced navigating the legal...
Real estate tokenization has been gaining traction from institutional investors, private equity funds, and property developers, leaving traditional real estate investors and fund managers questioning if they should break into the tokenization space. The draw to real estate tokenization centers on its ability to provide greater liquidity, access, and efficiency than the traditional real estate...
With increasing use of artificial intelligence (“AI”), many private fund managers have turned to proprietary AI algorithms as the basis for their investment strategies. While these AI algorithms offer the potential for significant returns, many fund managers and issuers routinely overstate their AI capabilities in pitch decks and private placement memorandums. “AI washing” refers to...
In 2025, we saw significant regulatory developments for digital assets. The GENIUS Act was signed into law, while the CLARITY Act passed the House and is currently moving through the Senate. Each act aimed to provide a comprehensive statutory framework designed to provide certainty while fostering innovation in the digital asset ecosystem. As a follow-up...
Many fund managers either do not know the right questions to ask or ask certain questions too late. Once the fund has investors and investor expectations are set, it can be more complicated (or sometimes even impossible) to switch directions. If you’re a fund manager planning to launch your first fund or planning to scale...