William W. Weisner, a Partner in Tarter Krinsky & Drogin’s Real Estate Practice, was quoted in The Real Deal article “Private equity firm Meadow Partners sues Pinnacle over $43M portfolio.”  The article addresses a lawsuit brought by Meadow Partners, a midtown private equity firm, claiming that its partner The Pinnacle Group is in breach of their joint venture agreement by hampering the sale of a portfolio of nine Upper Manhattan buildings.

Bill commented “if an operating partner has a declining portfolio, it might want to hold on to buildings to keep up appearances as a ‘player’ in the business.” He also noted that “if the capital partners decide to sell the property, operating partners will sometimes seek to block the sale for several reasons: to preserve property management fees, to avoid phantom income on tax recapture, or as leverage to negotiate a disposition fee.” To view the full article, click here.

William W. Weisner handles a wide variety of commercial real estate matters for lenders, developers, investors, landlords and tenants nationwide, as well as not-for-profit entities.