Investment by CW Multifamily OP I Clause Samples

Investment by CW Multifamily OP I. Except as set forth below, CROP shall be required to bring each Project that meets the Investment Criteria and Diversification Criteria, to CW Multifamily OP I if CW Multifamily OP I has equity available to make the required equity investment in such Project. CROP may, but shall not be required to, present other potential investments in Real Estate Related Assets to CW Multifamily OP I. In addition, CROP may, in its sole discretion, present investment opportunities to CW Multifamily OP I that do not meet the Investment Criteria and Diversification Criteria. Notwithstanding the foregoing, CROP and its Affiliates will freely and without limitation be permitted to pursue investment opportunities in Projects that meet the Investment Criteria and Diversification Criteria if: 1.1.1. Ninety percent (90%) of the anticipated equity required for the acquisition of the Project exceeds CW Multifamily OP I’s equity capital available for investment in such Project; 1.1.2. CROP or its Affiliates target the acquisition of the Project for the purpose of identifying all or a portion of the Project as replacement property in connection with a deferred exchange pursuant to Sections 1031 or 1033 of the Internal Revenue Code of 1986, as amended; 1.1.3. CROP or its Affiliates are acquiring all or an undivided interest in the Project as part of CROP’s broader investment strategy involving the roll-up of fractional or tenant-in-common interests in multifamily residential real estate in exchange for cash and/or limited partnership interests in CROP; or 1.1.4. CROP or its Affiliates are acquiring interests in Projects that are held by third parties in existing joint ventures or similar existing investment vehicles of CROP or its Affiliates.