CRE Fund vs JV: Seeking General Information and Guidance for Setting Up

[Nadia Jones]

Also posted in Getting Started Forum, but figured multifamily category may also generate some responses...so posting here as well. Thanks in advance for sharing your expertise!

I'm currently evaluating whether to go with a Fund Model instead of a traditional JV for an upcoming multifamily project, I will be working as a developer looking to do work with a more experienced developer on a larger scale multi-family opportunity. While I have a general understanding of what it takes to set up a fund, I'd love to tap into the collective wisdom here. For those of you who've chosen the fund route. The questions I'm most interested in having answered:

- What resources or frameworks were most helpful in structuring and launching your CRE fund?

- Question for investors: What can a developer, with less experience w/large scale deals, do to bring value to a more experienced developer?

Also would love answer to the following:

- Are there any specific challenges or advantages you experienced compared to a JV structure?
- Any lessons learned or best practices you’d recommend for someone leaning toward this approach?

I’m all ears for any guidance, recommended reads, or war stories from those who’ve been down this path. Really looking forward to hearing your insights!