Excuse the naivety of the question, but I don't have personal experience with it. I've seen a few related articles, but most seem to be for corporate/business PE transactions.
Within real estate, how and when does one get paid out carry (assuming this is built into your comp structure)?
Private Equity: Is it by asset annual performance/returns, by fund, annually, when the asset is sold/exited?
On that same token, how does equity get distributed and paid out at a publicly traded REIT. Obviously the REIT structure makes this interesting as 90% of profits are distributed to shareholders. So, would one get "carry" in the assets? Or, is the equity piece tied more to stock options? If it's tied more to stock options, my guess is you would get paid out on portfolio performance as it relates to the stock, but again this is the question overall.
If it's more complicated than that, meaning each fund can structure it differently, if anyone has specific experience can you share it?