Tool 3

Syndicator Dashboard

IRR, equity waterfall, refi & exit modeling, GP/LP splits. Requires Tool 2 completion.

Syndicator Dashboard — FAQ

What is a real estate syndication waterfall?

A waterfall is the order in which cash flow and sale proceeds are split between the sponsor (General Partner) and the investors (Limited Partners). A typical structure returns investor capital first, then pays a preferred return (for example 7–8%), then splits the remaining profit at an agreed ratio such as 70/30 LP/GP. The Syndicator Dashboard models this tier by tier.

What does the Syndicator Dashboard calculate?

Total equity required, GP and LP contributions, preferred return, promote splits, annual distributions to each class, refinance proceeds, exit proceeds, project-level and LP-level IRR, and equity multiple over the hold period you set in the Investor Analyzer.

What is the difference between IRR and equity multiple?

IRR (internal rate of return) is the annualized return that accounts for when cash comes back — earlier money is worth more. Equity multiple is total cash returned divided by cash invested, ignoring timing. A 2.0x multiple over 5 years is a very different deal from 2.0x over 10 years; IRR shows that, multiple does not.

Why does the Syndicator Dashboard require the Investor Analyzer first?

The waterfall needs a full set of projections — NOI, debt service, cash flow by year, refinance and sale assumptions — and those come from the Investor Analyzer. Completing Tool 2 carries everything into Tool 3 automatically so you never re-enter the property data.

Can I model a refinance in the hold period?

Yes. You can set a refinance year, new loan terms, and whether refinance proceeds are returned to investors, and the waterfall will show how that changes LP distributions and IRR.