Real Estate Fund Essentials: From Launch to Wind-Down
Every stage of your fund covered — formation, tax, operations, and exit — with checklists you can act on now.
Launching or running a real estate fund means making high-stakes decisions across legal structure, tax, investor reporting, and operations — often all at once. This guide from EisnerAmper's Real Estate Private Equity group covers the full fund lifecycle, chapter by chapter, with concrete Next Steps checklists at the end of each section.
What's Inside
Insights for every stage of the fund lifecycle. You'll get access to:
- A master launch checklist covering entity structure, capital raising, investor relations, and infrastructure — before you engage counsel or a fund administrator.
- A clear breakdown of fund structures versus joint ventures, including the compliance and reporting obligations that come with scaling up.
- A map of accounting responsibilities across your fund manager, outsourced CFO, fund administrator, and tax accountant — so gaps don't become problems.
- A complete UBTI guide for funds with tax-exempt investors, including the debt-financed income calculation, the fractions rule, and mitigation strategies.
- Tax considerations for foreign investors: FIRPTA, Effectively Connected Income, and OFAC compliance.
- REIT structuring benefits, including the permanently extended Section 199A deduction and how REITs block UBTI and reduce ECI exposure.
- A worked GP catch-up waterfall example showing the gross-up calculation most fund managers get wrong.
- Property-level operations guidance: decentralized accounting, AI-driven wire fraud risks, and CRM strategy for distributed teams.
- A wind-down checklist: investor notification, final filings, dissolution costs, and how to avoid clawback scenarios.