Tokenized Real Estate After Closing: What Sponsors Still Have to Manage Manually
The closing celebration ends. The tokens are minted, the investors are onboarded, and the platform is live. Then the real work begins: cash management,…
Read moreInsights on Real Estate Capital
Legal updates on real estate syndications, fund formation, and tokenized offerings under U.S. securities law.
Competing Funds and Side Vehicles: Managing Conflict Risks Across a Real Estate Sponsor Platform
A real estate sponsor manages a flagship value-add fund with three years left in its investment period. It also manages a separately capitalized opportunistic…
Read moreDividend and Distribution Administration in Tokenized Real Estate Offerings
Smart contract automation handles the mechanics of a distribution after the hard work is done. The hard work is closing the books, determining distributable…
Read moreAllocation of Investment Opportunities Among Affiliates: Fiduciary Obligations, Disclosure Requirements, and the Governance Framework That Protects Both
A real estate investment adviser manages two affiliated funds. Fund I is in its fourth year, past its investment period, with limited capital available…
Read moreManaging Corporate Actions for Tokenized Real Estate Interests
Tokenization changes the infrastructure of a real estate security. It does not change the fact that issuer-level events still have to be announced, calculated,…
Read moreUsing Due Diligence Questionnaires to Strengthen Sponsor Disclosures in Real Estate Offerings
In September 2023, the SEC charged Prime Group Holdings LLC, a private equity firm focused on self-storage real estate, with failing to adequately disclose…
Read moreRecordkeeping Obligations for Tokenized Real Estate Securities
Tokenizing a real estate security does not transform recordkeeping into a blockchain-only exercise. The legal ownership record must remain accurate, accessible, and defensible regardless…
Read moreMaterial Changes in a Real Estate Offering: How Sponsors Identify What Must Be Disclosed
Most real estate sponsors understand, at least in principle, that the PPM cannot be misleading. What is harder in practice is knowing when a…
Read moreOngoing Reporting Duties in Tokenized Real Estate Offerings
Tokenizing a real estate offering makes issuance, transfer, and recordkeeping faster. It does not make the reporting obligations disappear. The reporting burden in a…
Read moreHow Redemptions, Buybacks, and Repurchases Can Work in Tokenized Real Estate Structures
Exits in a tokenized real estate structure are not a trading feature. They are a legal and operational process that must align across the…
Read moreUpdating Offering Documents Mid-Raise: When Amendments Become Necessary and How to Execute Them
A real estate sponsor launches a value-add apartment offering in January. The PPM reflects the deal as it was underwritten: a floating-rate bridge loan…
Read moreDisclosure Controls for Real Estate Sponsors: Building a Process That Can Withstand Scrutiny
In fiscal year 2025, the SEC filed 456 enforcement actions and obtained orders for monetary relief totaling .9 billion. The agency’s stated enforcement priorities…
Read moreHave a deal that needs structuring?
Get counsel specific to your offering. Schedule a consultation with Jason Powell.
Or reach directly