LP Interest Acquisitions
Hey WSO,
I was recently underwriting a GP interest acquisition and wanted to know if anyone could provide guidance on how to search for LP interest acquisitions, and how they would work. Is there any database I could search?
One idea I had was to look at tax credit syndicated projects from 2002-2006 that were nearing or just completed with their initial compliance period where the LP would want to exit. I suppose banks with CRA requirements may be a good place to start. However, I'm stuck on what the next steps would be to further narrow down the list without gaining access to the actual partnership agreements or even the audits/tax returns.
Any guidance would be helpful. Thank you.
Because you mentioned tax credits, I'm giving you tax credit info. But remember to give more precise info when asking questions - in a ton of CRE transactions of any real size there are GP and LP interests.
https://lihtc.huduser.gov/
This is at least a starting point - you can narrow down, in your desired geographic region, what LIHTC projects exist that are finished with or are nearing the conclusion of initial compliance.
Identifying the LP is a different matter, I don't have a consistent method using just google. I am definitely on the lookout for ideas on that.
Limoncello, thanks for that source. I was asking for guidance on identifying LPs, however, which doesn't seem possible without access to the partnership.
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