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We do not operate with a fund structure. Equity for each development is raised independently, although usually with one of three regular groups.
Typically, we are not offered the option to co-invest, although it has happened. Our deal-level comp is based off of a percentage of the pref.
Ill have the option to co-invest any amount in our next fund as a part of the GP entity. Think I'll throw in $25k to $50k. Expect to make a 3x to 4x over 5-6 years pre-tax.
If you're investing as part of GP entity does that mean your dollars will get a pro-rata share of the promote?
Correct
I threw 100k into the debt fund I work for and will probably throw another 100k into the next couple of funds being raised (debt and equity). I’m at an opportunistic shop so we are targeting low to mid teens on for the debt funds and low 20s on the equity funds.
what kind of loans are getting mid teen returns at a debt fund? Are they mostly construction financing and development loans?
Warehouse lines or note on note financing
How has this worked out for you?
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