Pretty self explanatory title. List product type of developments you're working one, market tier, investment term, and whether your on LP or GP side.
Product Type: Industrial Spec Development Market: Primary Term: 3 year horizon (modeled) LP side Waterfall: 10% Pref pro rata, 70 /30% to 15% IRR 60 /40% to 18% RR 50 / 50% Thereafter
Look forward to what others have to say.
Equity type and relationship status is going to matter a bunch here. Are these institutional investors? Does the GP need credit? Multiple LPs? Who holds the lending relationships? Who is taking the indemnities/recourse? Does the GP have a track record? Does the GP have other sources of equity? Who holds major decision rights? What is the initial equity split? How many deals have been done with them before, are they going to be cross promoted? Will there be a Equity multiple hurdle if time horizon is shorter? And many more all get taken into account on how the waterfall is going to work on top of market terms.