Real estate transactions, especially those in the mid-market and institutional space, rarely happen in isolation. Behind every successful deal is a team of professionals—lawyers, financial advisors, lenders, investors, accountants, and consultants—all bringing their expertise to the table. As someone who has worked on transactions exceeding $2 billion in aggregate value, I’ve learned that the ability to manage a deal team effectively is just as important as understanding the legal documents or financial structures.

Understanding the Roles

The first step in managing a deal team is understanding each participant’s role and priorities. Lenders, for example, are focused on risk, security, and return. Investors care about projected performance, exit strategy, and alignment with their objectives. Advisors bring specialized expertise—legal, tax, or operational—that informs the deal structure and execution.

Recognizing these differing perspectives allows you to anticipate concerns, communicate effectively, and create an environment where everyone works toward a common goal. A deal will only succeed when each party feels their objectives are understood and respected, even if compromises are required along the way.

Communication is Key

Clear and consistent communication is the backbone of any successful deal team. Misunderstandings or delays often arise not from lack of expertise but from poor communication. As the central point of coordination, the sponsor or lead attorney must ensure that updates, documents, and decisions are shared promptly and accurately.

In practice, this means holding regular calls or meetings, summarizing key points in writing, and making sure that questions are answered quickly. It also means understanding the preferred communication style of each participant. Some investors may want detailed written reports, while lenders may prioritize concise executive summaries. Adapting to these preferences builds trust and ensures the team operates efficiently.

Aligning Interests and Expectations

A successful deal team functions best when everyone’s interests are aligned. This doesn’t mean everyone will agree on every point, but it does mean that expectations are clearly set from the outset. Sponsors and advisors need to communicate the deal structure, anticipated returns, and potential risks, while investors and lenders should articulate their requirements and thresholds.

Aligning expectations early can prevent conflicts later. When each participant understands their role, responsibilities, and limitations, negotiations move more smoothly, and potential bottlenecks are addressed proactively rather than reactively.

Leveraging Expertise Effectively

Part of managing a deal team is knowing how to leverage the expertise of each participant. Not every decision needs to be made by the sponsor or attorney; the key is knowing who is best positioned to address specific issues.

For example, complex financing terms may be best handled by a lender’s counsel, while tax structuring questions fall under the purview of a tax advisor. By empowering experts to contribute where their knowledge is strongest, the team becomes more efficient and better positioned to anticipate and solve problems before they escalate.

Managing Conflicts and Negotiation Dynamics

Inevitably, conflicts arise during any transaction. Lenders may have stricter covenants than investors prefer, or advisors may have differing interpretations of risk. Effective deal team management requires recognizing these points of tension early and addressing them constructively.

A key strategy is to maintain focus on the overarching goal: closing the deal in a manner that satisfies all parties without compromising legal, financial, or ethical standards. This often requires compromise, creative problem-solving, and sometimes serving as a mediator between stakeholders. Keeping discussions fact-based and grounded in shared objectives helps prevent personal disagreements from derailing progress.

Maintaining Momentum

Real estate transactions are complex and often involve numerous moving parts. Without active management, momentum can stall. Deadlines may be missed, documents overlooked, or approvals delayed. As the sponsor or lead counsel, one of your responsibilities is to keep the deal moving.

This involves regular check-ins, monitoring progress, identifying bottlenecks, and ensuring accountability across the team. Maintaining momentum is not about rushing decisions; it’s about keeping everyone aligned, informed, and focused on the next steps needed to move the transaction forward.

Building Long-Term Relationships

One of the most important lessons I’ve learned is that managing a deal team isn’t just about the current transaction—it’s about building long-term relationships. Advisors, lenders, and investors remember how they were treated, how decisions were communicated, and whether they felt valued as part of the team.

Strong relationships pay dividends in future transactions. Parties who have positive experiences are more likely to engage in repeat business, provide flexible terms, and offer creative solutions when challenges arise. The credibility and trust earned on one deal can open doors for bigger opportunities down the line.

Closing Thoughts

Managing a deal team effectively is an art as much as it is a skill. It requires understanding roles, communicating clearly, aligning interests, leveraging expertise, managing conflicts, maintaining momentum, and building relationships that last.

For sponsors, attorneys, and deal leaders, the ability to orchestrate a team efficiently can be the difference between a successful transaction and one that stalls or fails. Beyond technical knowledge, success comes from leadership, strategic thinking, and the ability to bring diverse stakeholders together around a shared objective.

At the end of the day, real estate transactions are about people as much as they are about assets. Those who master the art of managing the deal team—not just the deal itself—create value for their clients, investors, and themselves. It’s this combination of skill, foresight, and human insight that turns complex transactions into repeatable success stories.