A joint-venture capital provider supplies the equity capital in a partnership with an operating partner who brings the deal, expertise, and execution, sharing ownership and returns according to negotiated terms.
Log in to followI've now read three JV operating agreements side by side and the only section that meaningfully differs is the major decisions list, the things the operator can't do without my wr…
I'm going through a JV agreement for the first time as the equity side and the exit section is two sentences long. The operator "shall determine the timing and terms of any sale i…
Two operators approached me in the same month and I can't have both, so I've been sitting with what actually separates them. Operator A wants to put in 15% of the equity out of hi…
Third JV I've read the documents for this year and the capital call section is where the two philosophies actually show up. Camp one says the non funding partner gets diluted hard…
I've been reading two JV term sheets a friend forwarded me with the names taken out, and they split the same way on paper but they get there differently. The first one gives the c…
First time I've been asked to write JV equity and the argument is stuck on one line. The operator wants a 1.5% asset management fee on invested equity, paid monthly out of operati…
Bridge loan quote on a 22 unit, $3.1m loan against a $4.2m purchase. Lender's term sheet asks for a guarantor with net worth at or above the loan amount and liquidity at 5 percent…
Six months in, still no deal of my own, and the money has been sitting. An operator I've been following around (20 to 40 unit value-add, secondary markets, does three or four a ye…