Governance in commercial real estate joint ventures is becoming a greater focus as market conditions highlight differences between risk and control. Arun Singh, founder of SPE Specialists, discusses how those imbalances are embedded in legacy deal structures and why they have persisted. He outlines where passive investors lose influence, particularly in distress scenarios, and how existing governance tools from the debt markets could be applied to equity structures. Singh also highlights what changes may emerge from this cycle and whether the market will adopt more durable protections going forward.
SPE Specialists is a firm that supports the legal and governance structure of commercial real estate deals. It provides independent directors and managers for special-purpose entities, which are used to hold individual properties. These roles help meet lender requirements and ensure the entity operates within agreed safeguards, particularly around risk and decision-making.
