Legal updates on real estate syndications, fund formation, and tokenized offerings under U.S. securities law.
Most real estate sponsors know they cannot admit unaccredited investors into a Rule 506(c) offering. Fewer understand that admitting an accredited investor into the…
Read moreA real estate sponsor finishes a two-year fundraise. The offering closed with thirty-two investors. Several months after the final close, the fund’s administrator prepares…
Read moreAccreditation verification is not a compliance formality in a tokenized real estate offering. It is a condition of the exemption the offering relies on,…
Read moreA tokenized real estate offering can execute a token transfer in seconds. The subscription that authorizes that transfer takes weeks to build correctly. The…
Read moreA real estate syndication is three days from its first closing. Subscriptions have come in from fourteen investors. The sponsor’s operations team is coordinating…
Read moreA ground-up multifamily development offering presents a three-phase business plan. Phase one is construction: a 22-month build on a fully permitted site with a…
Read moreA blockchain records what it is told. If the data it receives is accurate, current, and from a reliable source, the on-chain record is…
Read moreA real estate investor commits 0,000 to a value-add multifamily syndication. The PPM’s use-of-proceeds section reads, in its entirety: “Proceeds of this offering will…
Read moreThe choice of token standard in a regulated real estate offering is not a technical detail to be decided after the legal structure, the…
Read moreA tokenized real estate offering is presented as a blockchain product. In practice, it is a stack of service providers, each performing a function…
Read moreA real estate sponsor is presenting a value-add multifamily offering to a group of investors. The pitch deck includes a waterfall showing a projected…
Read moreA real estate sponsor is preparing for an institutional raise. The acquisition team spent three months assembling a track record package covering eighteen deals…
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