Murphy PC Advises on Joint Venture Preferred Equity Investment in a 50-Unit New Construction Apartment Building Project

October 24, 2025-Murphy PC represented a Boston-based preferred equity investor who partnered with a sponsor in an acquisition of a permitted property in Somerville, Massachusetts to construct and lease a 50-unit apartment building. We negotiated and advised on the joint venture operating agreement for the project entity.

Our client manages a fund providing preferred equity financing to sponsors and developers and has deployed over $100M in 60 projects.

The sponsor is a real estate development company that specializes in building high-end residential projects in New England and Florida.

Murphy PC is a Boston-based law firm specializing in substantial real estate and business transactions for real estate developers and investors. The firm’s practice includes project development, acquisitions and dispositions, joint venture agreements, construction contracts, financing, leasing, and title insurance matters across residential, mixed-use, condominium, multi-family, office, retail, educational, industrial, hospitality, and restaurant sectors.