From the May issue: A handful of well-capitalized property developers say they are being contacted to form joint ventures with struggling smaller developers. The changing lending climate has left some small developers stranded in the middle of projects that have had financing terms altered or haven’t gotten financing at all. For larger developers, it makes sense to try to buy into a deal that’s already been through the acquisition phase. In some cases, the financial stakes are high for developers to try to establish themselves as “go-to” firms for these types of deals. While developers did not name specific joint ventures, several said their phones are ringing.