Pillsbury Real Estate partner Andrew Weiner’s practice is global in scope, with a significant and sustained concentration on transactions in the New York metropolitan area.
Joshua Becker is a tax and transactional attorney with over 10 years of international law firm and accounting firm experience.
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The good times in the real estate world are over and many investment vehicles lack the capital stack to survive - even if they remain (at the moment) cash flow positive. These entities can be saved by an infusion of new money, but the existing owners will have to accept a painful squeeze down. Billions of dollars have been raised for this purpose. Opportunistic investment is coming back, as well as investment structures popularized in the 1980’s. This presentation will examine the factors that are derailing these companies, the nature of the transactions on the table to recapitalize them, and why existing ownership might be willing to play. We will examine - from the viewpoint of the old and new ownership - the strategies that each party will consider, the issues that must be addressed in Rescue Capital negotiations, and the other players involved (for example, existing lenders). Bankruptcy concerns will be discussed, and there will be an in-depth focus on the federal, state and local tax issues that must be considered on both sides.
Key topics to be discussed:
Date: May 9, 2023
Closed-captioning available
Andrew J. Weiner | Pillsbury Winthrop Shaw Pittman LLP
Pillsbury Real Estate partner Andrew Weiner’s practice is global in scope, with a significant and sustained concentration on transactions in the New York metropolitan area.
Since 1976, Andrew has represented domestic and foreign clients in equity and debt transactions, the creation of real estate funds and joint ventures, and transactions involving distressed real estate.
Andrew’s practice has had a significant concentration in the hospitality and real estate investment trust (REIT) sectors, and in leasing. His clients have included funds, family offices, institutional lenders, universities, non-U.S. investors and New York City developers.
Representative Experience
Professional Highlights
Joshua Becker | Pillsbury Winthrop Shaw Pittman LLP
Joshua Becker is a tax and transactional attorney with over 10 years of international law firm and accounting firm experience.
Joshua counsels clients in a diverse range of tax, transactional, business and private wealth matters. His experience includes the tax and non-tax aspects of mergers and acquisitions, investment fund formations, hedge funds, emerging company investments, family office operational and investment structures, and real estate joint ventures and investments.
A major part of Joshua’s practice is dedicated to representing significant family offices in connection with general investment structuring, M&A transactions and tax planning. Prior to joining Pillsbury, Joshua was a founding member of a multifamily office and a registered investment advisor dedicated to blockchain and digital asset investors, founders and entrepreneurs.
Honors and Awards
Speaking Engagements
I. Why are so many real estate companies in need of recapitalization? | 12:00pm – 12:30pm
II. On what terms is the new money available? | 12:30pm – 1:00pm
Break | 1:00pm – 1:10pm
III. What are the issues to be negotiated and the pressure points both for old and new investors? | 1:10pm – 1:40pm
IV. What tax issues and strategies arise in negotiating these transactions? | 1:40pm – 2:10pm