A typical real estate joint venture has a capital stack that is ~60% debt and 40% equity.
The sponsor, or General Partner (GP), typically partners with an investor, or Limited Partner (LP) in a joint venture to capitalize the requisite equity.
A common equity split between LP and GP is 90/10.
Sponsors can syndicate a portion of their requisite GP equity to outside retail investors.
Alternatively they can use Township as a single entity, institutionally structured investor.