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Joint ventures such a partnerships in real estate development can be complex in Los Angeles. However, an attorney can help people to address the many facets of real estate investment partnerships. The types of projects in which investors can benefit from an attorney’s assistance include office buildings, mixed-use projects, hotels, residential housing and industrial parks. An attorney may help with integrating deal documents related to investment partnerships. Proper legal guidance can also be helpful for analyzing all of these documents from the start of a real estate project to see if they are in compliance with the lender’s requirements. These documents are furthermore checked to make sure that they comply with other contractual requirements. Other areas in which legal assistance can prove useful are the dispositions or acquisitions of commercial real estate. You can also receive guidance on real estate development agreements or property management agreements. Any partnership disputes may additionally be handled with an applied understanding of the law. When people are developing real estate investment partnerships, an attorney can go over the tax ramifications of these partnerships as well. You can also receive guidance through the challenges and complexities of different funding vehicles, as needed, such as mezzanine financing, subordinated project debt and development loans. Even though partnerships in real estate can be complicated and involve a great deal of risk in Los Angeles and elsewhere in California, seeing the big picture of liability with the help of a lawyer can help to ensure that your contracts make possible a coordinated enterprise.

Joint ventures such a partnerships in real estate development can be complex in Los Angeles. However, an attorney can help people to address the many facets of real estate investment partnerships. The types of projects in which investors can benefit from an attorney’s assistance include office buildings, mixed-use projects, hotels, residential housing and industrial parks. An attorney may help with integrating deal documents related to investment partnerships. Proper legal guidance can also be helpful for analyzing all of these documents from the start of a real estate project to see if they are in compliance with the lender’s requirements. These documents are furthermore checked to make sure that they comply with other contractual requirements. Other areas in which legal assistance can prove useful are the dispositions or acquisitions of commercial real estate. You can also receive guidance on real estate development agreements or property management agreements. Any partnership disputes may additionally be handled with an applied understanding of the law. When people are developing real estate investment partnerships, an attorney can go over the tax ramifications of these partnerships as well. You can also receive guidance through the challenges and complexities of different funding vehicles, as needed, such as mezzanine financing, subordinated project debt and development loans. Even though partnerships in real estate can be complicated and involve a great deal of risk in Los Angeles and elsewhere in California, seeing the big picture of liability with the help of a lawyer can help to ensure that your contracts make possible a coordinated enterprise.

In a prior post, we highlighted the notion of “what’s old is new again” as a redevelopment plan in Los Angeles’ theatre district has revitalized that section of the city. However, making old new again may not be enough to accommodate the growing number of residents and transplants to the city. According to an estimate by UCLA’s Ziman Center for Real Estate, an estimated 300,000 people will move to the region in the next few decades. This has caused a new discussion over upzoning; the process and practice of changing the zoning rules in a particular area to accommodate higher population density. Upzoning typically involves zoning changes from strict residential use to mixed use (i.e. combinations of retail, office and residential use). Given the popularity of mixed use properties, and the burgeoning need for new housing, upzoning appears to be a good idea that would garner wide support. However, this support may not be universally shared. After all, higher population density may not be desired by everyone; especially those who have grown accustomed to having smaller numbers of neighbors. This presents a problem given how upzoning commonly occurs in areas with smaller shares of single family homes. More people commonly means more traffic, and a much more difficult time getting around. For those who already loathe traffic, upzoning would not be a welcome sight. As such, developers who have development plans that require upzoning could benefit from experienced real estate attorneys who understand the legal and political issues, as well as the environmental concerns that come with a project.

In a prior post, we highlighted the notion of “what’s old is new again” as a redevelopment plan in Los Angeles’ theatre district has revitalized that section of the city. However, making old new again may not be enough to accommodate the growing number of residents and transplants to the city. According to an estimate by UCLA’s Ziman Center for Real Estate, an estimated 300,000 people will move to the region in the next few decades. This has caused a new discussion over upzoning; the process and practice of changing the zoning rules in a particular area to accommodate higher population density. Upzoning typically involves zoning changes from strict residential use to mixed use (i.e. combinations of retail, office and residential use). Given the popularity of mixed use properties, and the burgeoning need for new housing, upzoning appears to be a good idea that would garner wide support. However, this support may not be universally shared. After all, higher population density may not be desired by everyone; especially those who have grown accustomed to having smaller numbers of neighbors. This presents a problem given how upzoning commonly occurs in areas with smaller shares of single family homes. More people commonly means more traffic, and a much more difficult time getting around. For those who already loathe traffic, upzoning would not be a welcome sight. As such, developers who have development plans that require upzoning could benefit from experienced real estate attorneys who understand the legal and political issues, as well as the environmental concerns that come with a project.

In a number of our posts, we have highlighted how the commercial real estate industry has shown signs of optimism, both in the construction of new facilities and the creation of mixed use facilities that incorporate retail, office and residential living spaces. Given this prospective, it would seem that any new mixed use project would be successful, but that simply is not the case. Indeed, developers and investors alike must consider several factors before moving forward with a proposed development. This post will highlight a few of them. Consider the retailer – The type of retailer is important in considering the development. The location must be conducive to the retailer needs and what residents expect in the retailer. For example, it residents expect a Starbucks to be close to where they live, but not necessarily a Sam’s Club. What type of traffic is expected – When the location is conducive to foot traffic, as opposed to vehicular traffic, smaller, boutique like retailers should be considered as tenants. Conversely, when customers will primarily be coming by car, a larger retailer could be considered. The type of community – The retailers included in a development must reflect the overall spending habits and culture of the community the retailers will serve. Essentially the retailers must be unique enough to offer a distinguishable shopping experience, but popular enough to attract a large clientele. Even in light of these factors, having the guidance of an experienced real estate attorney to create language within various agreements to protect your legal interests is critical to the success of such a project.

In a number of our posts, we have highlighted how the commercial real estate industry has shown signs of optimism, both in the construction of new facilities and the creation of mixed use facilities that incorporate retail, office and residential living spaces. Given this prospective, it would seem that any new mixed use project would be successful, but that simply is not the case. Indeed, developers and investors alike must consider several factors before moving forward with a proposed development. This post will highlight a few of them. Consider the retailer – The type of retailer is important in considering the development. The location must be conducive to the retailer needs and what residents expect in the retailer. For example, it residents expect a Starbucks to be close to where they live, but not necessarily a Sam’s Club. What type of traffic is expected – When the location is conducive to foot traffic, as opposed to vehicular traffic, smaller, boutique like retailers should be considered as tenants. Conversely, when customers will primarily be coming by car, a larger retailer could be considered. The type of community – The retailers included in a development must reflect the overall spending habits and culture of the community the retailers will serve. Essentially the retailers must be unique enough to offer a distinguishable shopping experience, but popular enough to attract a large clientele. Even in light of these factors, having the guidance of an experienced real estate attorney to create language within various agreements to protect your legal interests is critical to the success of such a project.

As we noted in our last post, the demand for multifamily residential housing is expected to continue through the next few years. However, open spaces in Los Angeles to construct such buildings is becoming increasingly difficult to come by. According to a recent globest.com report, there are only a few open spaces left, so many new projects are conceived to fit specific guidelines that have been instrumental for growth in urban metro areas. For instance, in Charlotte, North Carolina; Houston, Texas; Denver, Colorado and San Jose, California, new multifamily projects have been built on or near areas that exhibit these characteristics. This post will highlight them. Proximity to attractions – New developments in each of the cities mentioned were built in close proximity to attractive retail and entertainment venues. These included new outdoor shopping centers (as opposed to malls), movie theaters and restaurants. Easy access to major roadways – While the developments were not located on major thoroughfares, residents had easy access to freeways and expressways that would enable them to reach major employment centers in a reasonable amount of time. Driving distance to universities – In the same vein, successful new developments have been built in areas that provide easy access to university learning centers. Indeed, this has not caused a spike in new university housing, but it reflects a response to meet the need of millenials who are working towards degrees while working full time. As we have noted in a number of our posts, the keys to being successful in real estate are anticipating trends and meeting demand. A skilled real estate attorney can help investors develop projects that do just that.

As we noted in our last post, the demand for multifamily residential housing is expected to continue through the next few years. However, open spaces in Los Angeles to construct such buildings is becoming increasingly difficult to come by. According to a recent globest.com report, there are only a few open spaces left, so many new projects are conceived to fit specific guidelines that have been instrumental for growth in urban metro areas. For instance, in Charlotte, North Carolina; Houston, Texas; Denver, Colorado and San Jose, California, new multifamily projects have been built on or near areas that exhibit these characteristics. This post will highlight them. Proximity to attractions – New developments in each of the cities mentioned were built in close proximity to attractive retail and entertainment venues. These included new outdoor shopping centers (as opposed to malls), movie theaters and restaurants. Easy access to major roadways – While the developments were not located on major thoroughfares, residents had easy access to freeways and expressways that would enable them to reach major employment centers in a reasonable amount of time. Driving distance to universities – In the same vein, successful new developments have been built in areas that provide easy access to university learning centers. Indeed, this has not caused a spike in new university housing, but it reflects a response to meet the need of millenials who are working towards degrees while working full time. As we have noted in a number of our posts, the keys to being successful in real estate are anticipating trends and meeting demand. A skilled real estate attorney can help investors develop projects that do just that.

In our prior posts, we have noted how the near future is bright for construction of commercial projects in Southern California. Cheap money, job growth and population growth are all substantial drivers of this growth. But for investors and developers, the principal question is where to find appropriate deals. Indeed, there are many venues to consider for different needs. However, there are two that are drawing careful consideration from developers and investors. This post will highlight two popular cities. Long Beach – According to many real estate professionals, Long Beach is ripe with properties that are virtually bargains compared to other cities around the region. Additionally, it has many of the amenities that millenials and potential office tenants are looking for, including prime outdoor and indoor spaces, walkable amenities and proximity to the Pacific Ocean. With such favorable price points and new leadership committed to redevelopment, Long Beach is poised for a renaissance. Burbank – Like Long Beach, Burbank is working diligently to court millenials, as city leaders believe that this age group is the driver of economic growth. Burbank is home to more than 1000 entertainment related companies, making it the area with the highest concentration of such companies in Los Angeles County. Burbank is also going to be home to the largest IKEA in the United States, and several other high profile companies are building offices in the area, including Tesla Motors. The emerging opportunities call for the guidance of an experienced real estate attorney. If you have questions about how to protect your interests in the midst of a new development, we can help.

In our prior posts, we have noted how the near future is bright for construction of commercial projects in Southern California. Cheap money, job growth and population growth are all substantial drivers of this growth. But for investors and developers, the principal question is where to find appropriate deals. Indeed, there are many venues to consider for different needs. However, there are two that are drawing careful consideration from developers and investors. This post will highlight two popular cities. Long Beach – According to many real estate professionals, Long Beach is ripe with properties that are virtually bargains compared to other cities around the region. Additionally, it has many of the amenities that millenials and potential office tenants are looking for, including prime outdoor and indoor spaces, walkable amenities and proximity to the Pacific Ocean. With such favorable price points and new leadership committed to redevelopment, Long Beach is poised for a renaissance. Burbank – Like Long Beach, Burbank is working diligently to court millenials, as city leaders believe that this age group is the driver of economic growth. Burbank is home to more than 1000 entertainment related companies, making it the area with the highest concentration of such companies in Los Angeles County. Burbank is also going to be home to the largest IKEA in the United States, and several other high profile companies are building offices in the area, including Tesla Motors. The emerging opportunities call for the guidance of an experienced real estate attorney. If you have questions about how to protect your interests in the midst of a new development, we can help.

Our last few posts have focused on the state of the market and the growing opportunities with regard to commercial real estate and office locations. However, it is important for real estate investors and financiers to recognize the trends that could shape real estate development in the near future. Essentially, a recent globest.com article highlighted three related trends. We will describe what they are and how they may influence future projects. Generation specific housing – It’s no secret that the number of people reaching age 65 are growing each month. With that, the number of senior housing and assisted living facilities has to grow as well. Because of this, securing financing for these projects has become a critical aspect of development. Co-urbanism – Real estate development is changing with the changing population needs. This means that more multiuse projects that enable retail, office and living spaces to be in close proximity to each other have become important as working and shopping experiences continue to change. Cyber risk – With more developments touting intelligent technological benefits, including smart grids and automated retail operations, it is essential that these buildings be protected from cyber attacks. Ransomware and other attacks geared towards seizing private information cannot be ignored, and developers must include plans for cyber risk management. Indeed, the guidance and advice from experienced legal counsel can be very helpful as developers secure financing for future projects. But knowing how these three trends may shape future projects can give developers a better opportunity for success. The preceding is not legal advice.

Our last few posts have focused on the state of the market and the growing opportunities with regard to commercial real estate and office locations. However, it is important for real estate investors and financiers to recognize the trends that could shape real estate development in the near future. Essentially, a recent globest.com article highlighted three related trends. We will describe what they are and how they may influence future projects. Generation specific housing – It’s no secret that the number of people reaching age 65 are growing each month. With that, the number of senior housing and assisted living facilities has to grow as well. Because of this, securing financing for these projects has become a critical aspect of development. Co-urbanism – Real estate development is changing with the changing population needs. This means that more multiuse projects that enable retail, office and living spaces to be in close proximity to each other have become important as working and shopping experiences continue to change. Cyber risk – With more developments touting intelligent technological benefits, including smart grids and automated retail operations, it is essential that these buildings be protected from cyber attacks. Ransomware and other attacks geared towards seizing private information cannot be ignored, and developers must include plans for cyber risk management. Indeed, the guidance and advice from experienced legal counsel can be very helpful as developers secure financing for future projects. But knowing how these three trends may shape future projects can give developers a better opportunity for success. The preceding is not legal advice.