Co-general partner positions in real estate.
Corlan Ventures considers joining sponsors in the general partnership, one deal at a time. Terms are set deal by deal in a written agreement. We do not raise capital from investors or sell interests in any deal.
What happens when you bring us a property
Prefer to talk first? Schedule a callWe rebuild the numbers
From the rent roll and the trailing twelve months, not the offering summary, on Corlan's proprietary underwriting technology. Unit count, occupancy and net income are checked against the documents.
We show the return at each price
The return at each price, with and without the key assumption, and the downside case if the plan does not work. This is our underwriting as a prospective partner. It is not an appraisal.
We model the capital structure
The bridge loan, the renovation holdback, the lease-up and the permanent take-out, sized together, with equity at closing and cash back at refinance on one page. Corlan Ventures does not arrange loans. If you want the debt placed, Corlan does that under its own engagement.
We name what must be proved
The assumption the deal depends on, and the steps to test it during diligence before you go firm.
The return at each price, before you offer.
What you get back
In writing, so you can put it in front of your partners.
- The underwrite, with every difference between the pitch and the documents listed
- A price table: return at each price, with and without the key assumption
- The capital stack from closing through the permanent loan
- The diligence request list for the seller
- A draft letter of intent and cover letter, for you and your attorney to finish and send
When a property is behind plan
For owners and sponsors deciding what a property needs and in what order.
Stabilize first
Phase one is only the money needed to stabilize: cash control, safety, staffing, collections, critical repairs and occupancy.
Upgrade only if it is proved
Phase two is unit upgrades, released only if test units lease at the higher rent.
Two versions of every number
Each figure is shown on the current loan and with a loan modification, because a modification takes time and is not certain.
Capital needs by quarter
The plan shows how much is needed and when.
What to send
If something is missing, send what you have and say so.
- The rent roll and trailing twelve months
- Purchase price or asking price, and where the deal stands today
- The business plan and hold period
- The capital stack as you see it now
- Your track record with this property type
Have a property in pursuit or under contract?
Tell us where it stands. We will come back with an answer or the questions that decide it.