Guarantor for Multifamily Syndication

[Anthony Barbato]

Hello,

I want to hear from other multifamily syndicators how they have partnered with an outside guarantor to sign the debt for their acquisition. Specifically, if any syndicators have syndicated on an assisted living senior housing project using non recourse debt financing. 

What would you recommend the guarantor be paid for using their financial solvency to sign on a non recourse debt loan?

Thank you

[Tony Lin]

It really depends on what you negotiate with the KP. I've seen anywhere from 3% ownership to $50k cash to zero incentive since the KP gets to earn Fannie Mae/Freddie Mac loan experience. 

All depends on what the partners are looking for.