Partner with The Geyser Group
The Geyser Group is open to Co-Sponsor relationships with organizations that have the ability to provide or source debt, equity, expertise and guarantees on projects in which we serve as the developer and co-investor. We will also consider Co-Sponsor structures with sophisticated land owners who desire a development or financing partner.
Example Deal Summary
- GP entity 51% TGG | 49% Partner
- JV entity will control the land and contain all deal level economics.
- JV charges 4% dev fee of hard and soft costs paid over development period.
- Dev fee is paid to the GP and split 50/50 between the parties (assuming the split is commensurate with responsibilities).
- JV may charge a 2% construction management fee if the Partner or TGG does the work, though most often this is outsourced to a 3rd party and charged to the JV as an expense.
- Waterfall will be determined by the market, but likely a 6-8% pref and 70/30 LP/GP split or a tiered IRR waterfall. The promote will be split 50/50 between TGG and Partner (assuming the split is commensurate with responsibilities).
- TGG provides equity through an SPV and sources debt (may use third parties to assist).
- Cosponsor: source an interesting opportunity and be willing and able to take point on the day to day project development.
- TGG: Will source most of the equity (you have to have some skin in the game), debt and required project team members. TGG will manage the legal, accounting, compliance, reporting and investor relations and serve as your trusted advisor throughout the various phases of the development process from capital formation to entitlements to acquisition diligence, feasibility and design and ultimately construction, stabilization and operations or disposition.
Asset & Project Management
- TGG charges an asset management fee (2% of committed capital annually) on capital it raises in an SPV and manages investor relations, reporting, distributions, capital account maintenance, etc…
- TGG will assist in the development process as required by the project, but at a minimum will attend weekly development meetings, maintain project budgets, assist with entitlement items such as facilitating re-zonings or site development permits and making project team introductions.
- TGG will manage accounting, investor relations and reporting.