Jackson Walker successfully represented an affiliate of its client, Virtus Real Estate Capital, in the negotiation of a joint venture with Fountain Residential Partners, a Dallas-based student housing real estate development and asset management company, for the development and operation of a student housing community serving students of the University of Houston and Texas Southern University.
The 531-bed project, to be known as Gateway on Cullen, will be located on Cullen Boulevard at the main entrance to the University of Houston campus.
Jackson Walker assisted Virtus in negotiations with its joint venture operating partner, affiliated development and property management entities, and lenders providing construction financing.
Virtus is a real estate private equity sponsor based in Austin, Texas. Since its founding in 2003, Virtus has launched 35 investment funds and partnerships that have invested in over 175 commercial properties with a combined acquisition value of over $2.5 billion.
Led by Cale McDowell (corporate/private equity), the Jackson Walker team included Andee Hartig (real estate/private equity) and Cade Satterfield (corporate/private equity), among others. Jackson Walker’s private equity group is an interdisciplinary team of attorneys offering a comprehensive suite of legal services to private equity fund sponsors and other participants in alternative investment transactions. Jackson Walker advises domestic and foreign private equity sponsors of all strategies, including buyout, venture capital, real estate, oil and gas, credit and lending funds at every stage of the investment fund life cycle, including in connection with fund structuring and formation, capital raising, governance, regulatory compliance, debt financing and portfolio acquisitions and dispositions.