David C. Schwartzman

Partner

Overview

Involved in all aspects of real estate investment transactions, David represents investors, developers, and sponsors with respect to their investment in and formation of joint ventures, separate accounts, and real estate private equity funds. Clients frequently call upon him to analyze, negotiate, form, document, and restructure various forms of business organizations, including partnerships, limited partnerships, limited liability companies, and corporations. He works with such business organizations throughout all stages of their life cycle, from formation through operations, restructure, winding up, and termination. 

Joint Ventures

David advises developers and equity investors in joint ventures owning, developing, and managing all types of real estate assets. He helps developers and equity investors structure, negotiate, form, restructure, and document joint venture relationships for the development of multi-family, residential, and commercial projects in urban in-fill and residential locales. 

Separate Accounts

David has guided government and private plans in the formation of separate accounts with institutional sponsors for investment in all types of real estate assets. In this context, he has represented clients entering into relationships with developers and sponsors for investment in a wide spectrum of investment strategies and product types, including core, core plus, value-add, and development strategies for investment in multifamily, retail, office, logistics/industrial, and self storage properties.

Commingled Funds

Institutional investors turn to David for advice in matters concerning their investments in commingled real estate private equity funds. He has represented institutional investors investing in funds constituting a wide variety of fund structures and strategies, including debt and equity funds (and combination debt and equity funds) structured as closed-end funds, "club deals," open-end funds, parallel partnerships, REITs, "side cars," co-investments, and series limited partnerships/limited liability companies. In addition, he has extensive experience in forming commingled real estate private equity funds for the institutional marketplace.

Representative
Matters

Joint Ventures

Represented an East Coast developer forming multiple joint ventures with different equity investors to rehabilitate and convert large brownstones in downtown locations into multi-family boutique apartment buildings.

Represented a large British investment bank in making a $15 million preferred equity investment in a joint venture with a developer to develop high-end condominiums in New York City as part of the restructuring of the capitalization of such joint venture.

Represented a prominent Pacific Northwest developer in executing a "buy/sell" transaction with its investor where the developer ended up acquiring the investor's interest in the joint venture.

Represented an asset manager in a joint venture with a global development group and a U.S. private pension fund to acquire two Class A office towers in Paris.

Separate Accounts

Represented a governmental plan in forming a series of separate accounts, each with a different sponsor and strategy and ranging in size from $100 to $400 million, to develop, acquire and/or rehabilitate multi-family, industrial/logistics, and self storage properties throughout the United States.

Represented an institutional sponsor of commingled funds and separate accounts in the restructuring of nine separate accounts owning, collectively, greater than $1 billion in assets as part of a R. 363 bankruptcy sale.

Commingled Funds

Represented a sovereign wealth fund in making more than $550 million in investments in two commingled real estate structured debt funds.

Represented a governmental plan with a $100 million investment in a $13 billion global, "go anywhere" commingled real estate fund (the largest fund of its kind ever raised at the time).

Represented an institutional sponsor of commingled real estate private equity funds in the formation (and later restructuring) of a series of equity funds possessing, in the aggregate, more than $1 billion of capital commitments.

Bar and Court Admissions

  • State Bar of California
  • State Bar of New Jersey
  • State Bar of Pennsylvania

Education

  • J.D., Temple University, Beasley School of Law, 2005
  • B.A., University of Pennsylvania, 1999, cum laude