Partnering With Landowner for Development

[David Benton]

I need some advice as to how I might proceed with a landowner on commercial property. We are discussing partnering as they own the land and I can bring the team together to do this including the funds. This is about 200 acres on a main highway and based on what I've been looking at so far, multifamily apartments are in demand and may be the highest, best use. I may however find this needs to change once I start so not committed to this use.

I would like to put some sort of partnership agreement together up front before going forward but not sure how I would do this without bringing this to a group I work with, doing the feasibility study and knowing percentages. Normally I put the property under contract to purchase but this is different from what I'm used to. 

Any help is appreciated.