Investor Resources

When it comes to syndications, there's no one template for a structure. They range based on the deal and based on the operators. We read hundreds of subscription agreements to research how everything is done, and there's no one set template. 

So, you may have a simple triple net lease property; it may be more favorable to the investor on the equity side. There may be a preferred return paid or not, or the preferred return can accrue, and that could be paid out when the property is sold. But again, there's no one set template. 

We've seen everything from 90-10, to the investors or sponsor group all the way, and probably swap the other way if there's a ton of work to be done. 

With development deals, there's no cash flow. So, if there's a fee that accrues, there is probably a hefty split to the sponsor for getting that development off the ground and leased up and whatnot. For simple deals, I think it goes the other way. However, as I said, there's no rule of thumb when we're talking about structures and syndications.