HAS ANYONE EVER HEARD OF A SEARCH FUND FOR RE DEVELOPMENTS?

The idea would be to use the search fund to finance the pursuit of land for a very specific type of development applicable to a specific market. Essentially, syndicating out a portion of the GP platform to search fund investors. Anyone heard of anything like this in the search fund community specifically? Obviously, a different risk profile, but I think the structure would be similar - search fund pays for pursuit costs and entitlement (like funding the acquisition search), then capitalizes the deal for vertical construction (like funding the actual acquisition).



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