How to analyze apartment syndication offer summary?

[Rebecca Graziano]

Hi!

I've received an offer summary on an apartment syndication. There is a lot of information to dissect here. How do I determine if it is a good deal or not? After all, these are projected outcomes. Is 8% pref return the way to go on a 75/25 split with average annual return 17.56%?

In other words, what are the numerical criteria (or other parameters) that separate a deal into "yes" pile vs the "no" pile?

Also, I've been told to review the syndicator's track record of projections vs. actual numbers. How do I obtain that information?

Thank you!