Developers Agree to Disagree and Move On

An east coast developer and a west coast developer partnered to conduct a $20 million development project in the Midwest.  Both developers were knowledgeable and well financed. Each has many years experience along with excellent track records in new developments.

But when their new joint venture experienced significant difficulties and setbacks the venture partners’ trust in one another and their ability to work together disappeared.

On the advice of their legal counsel, the partners sought out a mediator with experience in real estate development. Through mediation teleconferences, the partners structured a buy-out plan to end the joint venture and avoided litigation entirely – the total cost to mediate was $4,000 to each party.