In your acquisition and/or development timeline when do you start sourcing equity? The firm I work for is well-capitlized so we usually close on the property/land, take it through approvals, then 6-9 months we get into the ground we source debt/equity concurrently. We do a true-up with our equity partners for softs. I am just wondering what other shops do - do you guys put it under contract then source the capital stack? How many months does it normally take you guys?
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Value-add office here. We start softly raising equity/debt as soon as the building is under contract. Formal memos on the deal are sent out about 1-2 weeks into DD period.
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