7 Comments
 

25-30 million in equity? Maybe don't bite off a $100 MM project as your first rodeo.

Commercial Real Estate Developer
 

"Traditional Cost" is too vague.... If you're looking to hire a broker to connect you with an equity player for the JV, the fee would be ~2-3% of the equity raised, so ~$600-900k.

If you're asking what's the preferred return/promote structure might be for the equity partner, those numbers can be anywhere from 6-10% pref with a 20-40% promote to the sponsor. Depends on many factors including, if the property has an operating history, is cash flowing positive, is fully entitled for a complete redevelopment, etc.

 
Most Helpful
  1. Firm to raise equity: Hit up debt and equity brokers. @Merchant_of_Debt" has mentioned his experience with that. Hit him up.

  2. Cost is dependent on deal size. You can build a single family home in Wyoming for $100k, at 65% LTC you need $35,000 in equity. You can build the next Hudson Yards for several billion dollars in total hard costs, which would be a LOT of equity. Where you start is somewhere in the middle, probably skewed down to a few to several million hard costs- a few hundred thousand to a few million in equity required.

“The three most harmful addictions are heroin, carbohydrates, and a monthly salary.” - Nassim Taleb
 

Beatae a maxime odit eveniet minima. Rerum repudiandae accusamus sunt qui. Libero nulla dolor perferendis molestiae ut. Rerum doloremque odit iure enim. Non possimus laudantium labore alias. Nobis modi eveniet dolore eligendi.

Libero iure deserunt vero ut possimus incidunt. Voluptatem consequuntur non ea molestiae molestiae quas. Autem voluptatum mollitia ut ea hic. Et deserunt inventore culpa enim officiis voluptatem.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (50) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”