Partnership Syndication GP Ownership

[Allen Lemay]

Hi - 

I'm hoping you can help me out.  For those of you who are in a partnership and syndicating multi-family properties, I'd like to pick your brain.  How do you structure the ownership interest for the different general partners (GPs) in the deal?  Do you split everything down the middle depending on the number of GPs that are involved (e.g. 2 GPs each get 50% ownership stake)?  Or do you carve out the % of interest based on the value each GP brought to the deal (e.g. Capital raise equates to 20% of GP ownership, Deal sourcing equates to 20% of GP Ownership, Asset Management 25%, Loan Guarantor 5%, etc).  Curious to see how this is structured and would love to see examples if you're willing to share. 

Allen