Syndication - LP Legal review

[Vincent M.]

Good morning, I am currently evaluating a syndication opportunity and would like some legal support. Should I be looking for a securities attorney, or a real estate attorney?

Would appreciate any referrals from Fellow investors. Feel free to PM me if that works. Thank you for your help. 

Vincent

[Taylor L.]

Personally, I would contact a securities attorney. Mauricio Rauld, Kim Lisa Taylor, and Jillian Sidoti are well regarded in the industry from the General Partnership side. They are all separate firms, so that gives you a few options to consider. I would be sure to ask the GP who prepared their syndication documents and research their attorney a bit. Also avoid using their attorney for review due to obvious conflict of interest. I would expect that to be disclosed, but you never know. Better to ask and be sure than to assume. 

I would also see if I could find an independent underwriter to take a look at the deal if I were not comfortable with my own ability to underwrite. Their securities documentation could have preferable terms but the business plan could be weak, and where does that leave you? Not in a good place. An underwriter's review could cost you a few hundred bucks.

I am not a lawyer or investment advisor and cannot provide legal or investment advice. That's just what I would do if I were looking to have documents reviewed as an LP.