How are partnerships created on a Construction Loan?

[Jordan L.]

Living in an apartment, I was always so curious who owns this 300 unit building, so I went snooping around the net. The currents owners form a partnership/LLC to get a construction loan for this property 15 years ago. The loan is for 40 years, different stipulations. Too lengthy to put here. What’s fascinating was each company has their own entity and different percentage on the property. What I wanted to know is when you see these large skyscrapers and large buildings being built around your city/town, is this what usually happens, a couple groups of organizations get together and buy a large piece of property. It’s amazing what you will find on the internet. How does someone qualify for such a large loan? At the time the loan was for approx 12 million and they all contributed there portions. I would like to know has anyone on bigger pockets been apart such a massive joint venture/partnership purchasing a large building. I would love one day to be a partner in such a business deal. Taking baby steps now : )However, not sure what the expenses are but I know they made a profit. The property management also was a partner on the loan. Can someone give me the details on how Construction Loans work. I am just trying to gain knowledge for the future. Thanks