Real Estate Development Joint Venture Letter of Intent

Summary

This letter of intent template is for a joint venture real estate investment between an investor partner and a developer. The template should be modified as needed to reflect the business deal between the joint venture partners, as well as the underlying real estate investment. This template includes practical guidance, drafting notes, and alternate and optional clauses. A letter of intent is a negotiated document setting forth important terms of the proposed joint venture. It is often one of the first documents prepared in connection with a transaction, before the commencement of a full-fledged legal, tax, and accounting due diligence investigation, and before beginning a time-intensive and costly drafting of definitive documents. For a detailed discussion of letters of intent in real estate joint ventures, see Preliminary Agreements in Joint Ventures. For further guidance on real estate joint ventures generally, see Real Estate Joint Venture Resource Kit (90/10 Real Estate Joint Venture).