Net Worth Required for Construction Loan
I got a deal together. Got a private equity group to be my LP. Now I need to have the net worth requirement for a $65m loan. I don't have that kind of net worth. What are my options?
co-gp may provide b/s support
Would an LP / PE firm ever agree to take on that risk? I could ask my LP, but want to make sure it's not rude or they won't look at me like I'm stupid.
As the GP, you'd be the guarantor on the loan. The LP's typically don't take on the guarantee. In the case they did, they'd likely revise the promote structure so as to not be as diluted.
There are family offices that do this for a fee. Typically very bespoke agreements with people they're already familiar with, not sure how long it'd take them to underwrite you
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