RealtyGold

Chilled out entertainer in the streets, nightmare in the spreadsheets. Fmr Chief Legal Architect of Redemption Language @Blackstone and @KKR

[RealtyGold @RealtyGold1]

@Sureshsinghn @coloradotravis @buccocapital What? https://t.co/v7a3JTJAFO

[RealtyGold @RealtyGold1]

@MRossG199 @moseskagan @BrianCAlbers Not a CPA but basically the 10% LP capital has to actually be at risk to get a tax benefit. I believe at least, having run into this issue structuring Pref deals which this sounds like it is. I may be wrong, it’s very technical which I’m not.

[RealtyGold @RealtyGold1]

@MRossG199 @moseskagan @BrianCAlbers I don’t think you can get CGT unless your capital is actually at risk before profit is distributed. Under 707(c) I believe everyone needs to get their capital back 10%LPs, LPs and GP) first then the 10% LPs their payment or it’s re-characterized as a guaranteed payment.

[RealtyGold @RealtyGold1]

@CaseyMericle @REExchangor Isn’t there only the CADOT way to really be secure? Otherwise you have a UCC filing with nothing on title?

[RealtyGold @RealtyGold1]

@moseskagan @Wolf_Of_RE @RESimpleton @Codie_Fisher Risk is fairly low on high upside deals - if your last dollar as Pref is 65% on project completion (but 85% LTC) your risk is fairly low. You just need a sponsor you trust.

[RealtyGold @RealtyGold1]

@moseskagan @Codie_Fisher We structure what would otherwise be a 2TD as Pref because banks just prefer it. Umpqua for example - won’t let us be a 2TD but are happy when we’re pref in the stack.

[RealtyGold @RealtyGold1]

@fortworthchris @Codie_Fisher If there’s good upside we’ll look at doing pref at ~12% + points as long as we don’t go over 85% of the cap stack. Let me know if you’d like to discuss. We love Texas and Industrial.

[RealtyGold @RealtyGold1]

@Codie_Fisher We offer pref equity to fill equity gaps. No split, and you can pay us off whenever you want as long as we hit our ~12%. On value added projects only. We’re in front of the LP and GP capital but behind the debt. Banks like the additional pair of eyes unrelated to the LP/GP.

[RealtyGold @RealtyGold1]

@bk_moore @sweatystartup Have been out of the sugar game for a while but how is the Twix milk and where can I cop?

[RealtyGold @RealtyGold1]

@nic_detommaso 👋

[RealtyGold @RealtyGold1]

@nikigupta123 Looking for a Proptech role - 7 years experience in private equity RE running deals, operations and legal for a $1bn debt and equity family office

[RealtyGold @RealtyGold1]

@liensofnewyork Maybe the greatest Xmas movie

[RealtyGold @RealtyGold1]

@realKunalAShah Yeah but it’s the McDonald’s Salad of populist stew

[RealtyGold @RealtyGold1]

@MorningBrew Small heads, show us that technique

[RealtyGold @RealtyGold1]

@dtrinh This is good life advice. Respect and kindness never hurts.

[RealtyGold @RealtyGold1]

@sujayjaswa @MiamiDolphins Has to be a personality issue, after what, a 10 and a 9 win season?

[RealtyGold @RealtyGold1]

@anothercohen Web3 metaverse onchain proptech

[RealtyGold @RealtyGold1]

@packyM Stripe

[RealtyGold @RealtyGold1]

@pitdesi @JonahLupton @ParikPatelCFA The non-frozen Tikka Masala (in the sandwich section) is even better.

[RealtyGold @RealtyGold1]

@JaiminDesai93 👋