Multifamily new construction developers?
Anyone work for a multifamily developer or an equity firm that invests in multifamily new construction multifamily developments? Please PM me as I’d like to talk with you about how you underwrite your deals and working with outside equity. I work for a primarily affordable housing development group that is branching into market rate, but we’ve struggled getting some staff to understand that how you structure/underwrite an affordable deal is not the same as a market rate development. Specifically looking at fees such as developer fee, architect, general requirements, contractor overhead, and contractor profit and what types of IRR, build yields you are seeing. We build suburban garden style market rate multifamily.
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