Andrew Botts advised a $40 million 50/50 joint venture for a major mixed-use development in Dallas, Texas

Andrew Botts counseled a business group on their $40 million 50/50 joint venture for a major mixed-use real estate development with an estimated economic impact of $1 billion. The complex joint venture involved seven entities, forming a private equity fund-of-one for investment, a sale and financing, multiple tiered partnerships, and an asset double drop-down. Andrew Botts advised on, among other matters, the optimal tax and legal structure for the asset drop-downs, the ideal capital structure, balance sheet, and tax allocations and the distribution waterfall for the joint venture entity, and Internal Revenue Code ยง 754 elections for adjusting the basis of partnership property, S-corporations, net operating losses, minimization of phantom income, and other complex tax matters.

The Higier Allen & Lautin team was led by real estate shareholder Stuart Lautin and tax associate Andrew Botts.