Are Co-GP development structures successful?
Interviewing with a firm that appears to do Co-GP deals. I'm not super familiar with Co-GP structures, but their last deal was with another developer who was the lead sponsor because they are newer to the US multifamily space. They established ground a few years ago after developing in their home country for decades. I'm interviewing for a development position but considering most developers are having a hard time getting deals to pencil in the current climate, how exactly is this working?
Is hearing that they're doing Co-GP structures a good thing? Or is a developer just defaulting to this because it creates a pipeline while traditional LPs are sitting out?
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