Partnerships and Entities

[Account Closed]

Over the course of my career, I intend to own several properties with different partner(s). Assume that my partner(s) and I both have our own LLC's in which we own 100% of the property within them. If partner A and I decide to go in on an investment together, should we set up a new entity to own that particular property, or can we purchase the property through the two separate entities, without setting up a new entity? I'm guessing we should form a new entity to own that one property in-particular, and in that case, can and/or should my existing LLC own my share of the new entity?

Thank you in advance