Of the NOI, of the cash the LPs invested?

Certainly there is a $ value to LPs for this.

During that period, the number of closings fell for seven consecutive quarters before rebounding 74% over the ensuing two years.Additionally, the $24 billion in maturing CMBS loans this year could stimulate sales activity as the interest rate environment will likely be much different from their rates at origination.

🚀 Predictions are swirling that the banks might consider lowering rates to stimulate business

This could easily take any equity a syndication has away from LPs.

If rates do fall, that can be reasonably expected to stimulate housing demand to some extent.

Not all sponsors are for certain LPs just like not all LPs are for certain sponsors. 

We have many soft commits from our LPs excited to work with us seeing as we have typically said no in the past (either we were not ready to take on investor dollars/wanted to build more of a solid foundation first) so we are excited to generate great returns for others that we have been able to do for ourselves for several years. 

The deal for the LPs stays the same as far as returns go.

Collaboration with investors and corporations could lead to projects that stimulate economic growth, create job opportunities, or support sustainable business practices.3.