Hello, BP community -
First-time poster here, and appreciate your guidance on the below question.
I am curious about how we should be thinking about paying investors during the first few months of a value-add syndication when they have a preferred return (8% in this case), but the property will not be returning 8% until we stabilize rents and get them to market rates. The current return is more like 6%, an after stabilization, more in the 10-11% range.
Any feedback on how we should be thinking about this would be helpful