All Forum Posts by: John Marchefka

@Daniel McNulty thanks again for your response. 

When you say service providers I want to understand where our gaps may be.  We are currently working with leading nationally recognized civil engineers, architects and EPC's on site development work and a regionally renowned construction firm. We have an experienced corporate attorney in the environmental and pharmaceutical industries on our founders team but are currently lacking a fund specific RE attorney & CFO (but have we have a connection with an experienced hedge fund manager who has expressed interest in joining our team and we are currently interviewing interim candidates on toptal). 'To use a sports analogy - what positions am I missing/not considering for us to be set up for our best chances at success in your opinion?

Daniel,

@Daniel McNulty thank you for your response. Yes, this is big endeavor but originally we were trying to raise equity in our company as opposed to setting up a fund structure to finance these projects. Our strategy was to get one up and running (through entitlements) then leverage equity created once entitlements were in place and roll into next project and so on and so forth...

What we learned was that given the large capital requirements for these infrastructure projects, the investors we are getting introduced to are going to require a GP & LP structure.

To your point about sponsor track record, we were hoping to partner with/hire a qualified CFO that has successful RE fund management experience and LP reporting experience. I personally have a lot of development experience including over 100mw's of operational solar and a pipeline of over 600 more but I act/acted as a co-developer and my partner/co-development companies always took care of the financing. In your experience, is hiring/partnering with a qualified and experienced manager enough to overcome the fact that is is my first fund?

Hi BP community I just set up my account and was hoping I could get some feedback on setting up an industrial value-add fund specific to cannabis land & infrastructure development. My company plans to develop 10 industrial subdivisions/business parks through the US over the course of the next 5 years. We are currently in early stages of our first two projects in MA that are projected to deliver over 800,000sf of turnkey cultivation, processing and manufacturing space to be leased out. Each of these projects costs in the neighborhood of $90,000,000. Anyone here have any experience with setting up and managing a fund and can offer some advice/direction? 

Thanks in advance!

John