LLC and Development / Ownership

[Robert Littke]

A Dr. forms an LLC, to develop a 10,000 sq. ft. building, Instead of leasing the space or selling it coop style, He wants to prospective tennants to buy into the LLC. How exactly does this work, and are partners able to finance the purchase? If so, what type of loan would this be, and how would someone put a 'value' on the LLC? I realsize there are probably a number of ways this could be accomplished. I'm just trying to figure the most likely scenerio so I can make sense of it. Once you buy in, Pros/Cons etc. There are a number of medical professionals in the area doing this, but I don't quite understand how its valued or financed.