Sale or Transferability of Partnership Interests OM, HELP!

[Daniel G.]

Hi Guys,

My question is about ownership and the transferability of ownership interests with limited partners (investors) in a multifamily property deal. How do you guys address the sale or transfer of partnership interests in your operating agreements? How can interests be sold? and if so at what value?

The truth is that my investors have an investment time horizon that is much shorter than mine due to their age and are therefore seeking a maturity or a means to exit the investment vehicle.

How do you guys address the sale, or transfer of LP interests, assuming that you pay off their principal investment through a refinance in years 4-6.