Property Management / Syndication Agreement
Ideas needed...
I've been working with a particular owner (a syndicator) for ~1 year managing his multi-tenant office portfolio of ~170k square feet (made up of 6 buildings across Raleigh and Durham in NC & Richmond, VA). He's got another 600k square feet under contract that would increase the building count in both Raleigh and Richmond, but also expand our reach to Atlanta, GA... 1/3 of that square feet is scheduled to close by year-end.
As we are discussing employee growth and bringing maintenance in-house, the conversation on Friday revolved around developing a partnership. While he doesn't want ownership in my Property Management entity, he does want to create some form of control/protection.
Does anybody have an idea of how a property management company and a syndicator should structure a longterm agreement? What are some scenarios you've witnessed/experienced?