What do investors see as a solid LP return?

[Kenneth Bell]

Hello all,

I am a real estate developer who has for the past 10 year solely focused on develp build and sell assets. I am now looking at a few deals that we will develop and then keep them in a GP/LP relationship. I am looking at the landscape of other multifamily GP/LP deals and it seems there is a wide range for both IRR and equity splits between GP/LP. I am trying to get a pulse on what is a good return metric for LP's. I am a strictly ground up developer. I am new to GP/LP deals but not new to development. I was targeting a 20/80 GP/LP with a 12-13% IRR with a 2 hurdles +14% IRR GP/LP goes to 30/70

+15.5% IRR GP/LP goes to 40/60.

These will be usually 25 to 50 unit infill multifamily deals usually townhomes or apartments

I would love the feedback