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.

News & Insights

Federal Legislation Incentives for CRE in 2025

August 25, 2025 | Author:  David J. Murphy Several sweeping changes have arrived for commercial real estate (CRE) investors, developers, and property owners following the July 4, 2025 enactment of the “One Big Beautiful Bill Act” (OBBBA). This federal legislation, together with the 2025 budget...

Addressing Tenant Alterations in Commercial Lease Negotiations: A Landlord’s Perspective on Silent Lease Issues

August 24, 2025 | Author:  David J. Murphy Alterations are among the most important aspects of commercial lease negotiations. While tenants may seek flexibility to adapt leased premises for their operational needs, landlords are equally concerned with preserving the value, structural integrity, and appearance of...

Key Contract Considerations in AIA A101-2017: An Owner’s Perspective

August 23, 2025 | Author:  David J. Murphy The AIA A101-2017 Standard Form of Agreement Between Owner and Contractor represents the most widely adopted construction contract framework in the United States. Developed through decades of industry collaboration, these documents provide a comprehensive structure for construction...