Murphy PC Advises on Joint Venture Preferred Equity Investment in a $16M Multifamily Acquisition and Condominium Conversion in Raleigh, NC

May 19, 2025-Murphy PC represented a Boston-based preferred equity investor who partnered with a sponsor in an acquisition of a 42-unit multifamily property in Raleigh, NC to convert the property to a $16M condominium project.

Murphy PC negotiated and advised on the joint venture operating agreement, advised on loan documents with a New York private lender, and guided our client through property due diligence items.

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

Murphy PC is a Boston, Massachusetts-based law firm providing legal services to developers, investors, and lenders in real estate and business transactions, including joint ventures, project development, acquisitions and sales, construction contracts, financing, leasing, and title insurance in residential, mixed-use, condominium, multi-family, office, retail, education, industrial, hotel, retail and restaurant transactions.