Profile
Labry Welty focuses his practice on real estate joint ventures and transactions. He regularly structures, drafts, and negotiates complex joint ventures throughout the United States and has experience advising clients on tax efficient structuring of real estate transactions.
Concentrations
- Joint venture structuring, formation, and negotiation
- Partnership and limited liability companies (LLCs)
- Real estate tax planning, including like kind exchanges (IRS Section 1031) and debt workouts
- REIT (including Baby REIT) formation and taxation
- Tenant-in-common structuring
- Corporate organizations, reorganizations, and mergers and acquisitions
- U.S. income taxation of inbound real estate investments
Capabilities
Experience
- Represented an institutional investor in a development joint venture with a developer in a $23 million project to build and develop a mid-rise residential building containing approximately 31,390 rentable square feet located in New York, New York.
- Represented an institutional investor in a development joint venture with a developer in an $85 million project to build and develop three mid-rise residential buildings containing approximately 137,000 square feet totaling 179 apartments located in New York, New York.
- Represented an institutional investor in the formation and negotiation of a tri-party co-invest joint venture involving the institutional investor and two sovereign funds and represented the co-invest joint venture in the formation and negotiation of a joint venture REIT with a pension fund for the acquisition of a $1.1 billion, 1.82 million square foot Class A logistics distribution center located in California.
- Represented an institutional investor in a joint venture with developers for a $498 million redevelopment project for a 500,000 square foot Class A office building with supporting retail space and affordable residential units located in Cambridge, Massachusetts.
- Represented an institutional investor in a $250 million programmatic single-family rental joint venture with properties located in California, Nevada, Georgia, Indiana and Florida.
- Represented an institutional investor in a joint venture with a developer for a $228 million project to develop a 211,000 square foot Class A life science/office building located in San Francisco, CA.
- Represented an institutional investor in a joint venture with a developer for a $280 million project to develop a 212,000 square foot Class A life science/office building located in San Francisco, CA.
- Represented an institutional investor in a joint venture with a developer for a $155 million project to develop a 164,500 square foot Class A life science/office building located in San Francisco, CA.
- Represented an institutional investor in a joint venture with a developer for a $130.5 million project to develop a 160,000 square foot life science/office building located in San Francisco, CA.
- Represented an institutional investor in a joint venture with a developer for a $500 million project to develop a 484,500 square foot life science/office building located in San Francisco, CA.
- Represented an institutional investor in a joint venture with a developer for a $47 million project to develop approximately 133,000 square feet office building and future development of 250 mid-rise multi units located in Charlotte, North Carolina.
- Represented an institutional investor in a joint venture with a developer for a $106 million project to develop two industrial buildings totaling approximately 1.5 million square feet located in Wilmer, TX.
- Represented an institutional investor in a joint venture with a developer for a $96 million project to develop two industrial buildings totaling approximately 955 thousand square feet located in Fort Worth, TX.
- Represented an institutional investor in numerous joint ventures with a developer to acquire and/or develop industrial buildings in Arizona, California, Colorado, Nevada, Oregon, Washington and Utah.
- Represented an institutional investor in a $1.05 billion co-investment joint venture with a non-US pension fund to invest in joint ventures with a developer for the acquisition and/or development of industrial buildings in Arizona, California, Colorado, Nevada, Oregon, Washington and Utah.
- Represented an institutional investor in a joint venture with a developer for a $127 million project to develop a mixed-use office/retail building and the renovation of 190-unit apartment building located in Austin, Texas.
- Represented an institutional investor in a tri-party joint venture with a sovereign fund and a publicly traded REIT for the acquisition of a $1 billion life sciences building in Cambridge, Massachusetts.
- Represented an institutional investor in a joint venture for the $265 million acquisition of a 368,000 square foot apartment building located in New York, New York.
- Represented an institutional investor in a joint venture for the $415 million acquisition of a 524,000 square foot apartment building located in New York, New York.
- Represented an institutional investor in a tri-party joint venture for the acquisition of a $185 million residential high-rise project located in Nashville, Tennessee.
- Represented an institutional investor in a joint venture with a state employee pension fund for the acquisition of a baby REIT holding a $332 million industrial project located in New York, New York.
- Represented an institutional investor in a joint venture with a developer for a $284 million project to build and develop a 758,000 square foot Class A warehouse and distribution park located in Norristown, Pennsylvania.
- Represented an institutional investor in a programmatic joint venture with a developer for the acquisition, development, and/or renovation of multi-family properties in targeted markets throughout the United States.
- Represented an institutional investor in a joint venture with a developer in a $340 million mixed-use project to develop a 362-unit multi-family residences, 435 units of student housing and 101,000 square feet of commercial space located in Phoenix, AZ.
- Represented an institutional investor in a joint venture with a developer in a $100 million project to build and develop a 326-unit residential building located in Atlanta, Georgia.
- Represented an institutional investor in a joint venture with a developer in a $78 million project to build and develop a build to rent project of single-family homes in Madison, Alabama.
- Represented an institutional investor in a joint venture with a publicly traded REIT for the $135 million acquisition of four medical office buildings located in Mission Viejo, California.
- Represented an institutional investor in a joint venture with a developer for a $214 million two-phased development of five Class-A warehouse and distribution facilities totaling over 1.5 million square feet in Glendale, Arizona.
- Represented an institutional investor in a joint venture with a developer for a $113.5 million development of a 360 units/773 parking spaces multifamily asset located in Roseland, New Jersey.
- Represented an institutional investor in a joint venture with a developer for a $81 million development of a 392-unit multifamily asset located in Houston, TX.
- Represented an institutional investor in a joint venture with a developer for a $48 million redevelopment of a Class “A” advanced manufacturing building totaling 121,300 square feet located in Dublin, CA.
- Represented an institutional investor in a joint venture with a developer for a $23 million development of a self-storage asset located in Montville, New Jersey.
- Represented an institutional investor in a joint venture with a developer for a $403.7 million development of four cold storage buildings totaling approx. 1.6 million square feet located in Atlanta, GA; Jacksonville, FL; Hazleton, PA; and Burleson, TX.
- Represented an institutional investor in a joint venture with a sponsor for the acquisition of a $74 million, 365,000 square foot retail shopping center and adjacent land located in Longmont, Colorado.
Recognition & Leadership
- Listed, The Best Lawyers in America, Tax Law, 2018-2025
- Listed, D Magazine, "Dallas 500, The Most Powerful Business Leaders in Dallas – Fort Worth," 2024
- Listed, D Magazine, "Best Lawyers in Dallas – Tax Law," 2012, 2015-2024
- Team Member, a Law360 "Real Estate Practice Group of the Year," 2023
- Listed, Super Lawyers magazine, Texas Super Lawyers, 2018-2024
- Rated, AV Preeminent® 5.0 out of 5.0
- Member, American Bar Association
- Tax Section
- Real Estate, Trust and Estate Law Section
- Member, Dallas Bar Association
- Tax Section
- Member, State Bar of Texas
- Tax Section
- Member, Texas Federal Tax Institute Board of Directors
- Treasurer
Credentials
Education
- J.D., Southern Methodist University Dedman School of Law
- B.B.A., West Texas A&M University
Admissions
- Texas
- U.S. Tax Court