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Owen Reimer, founder

Owen Reimer is the Managing Partner at Stoneshore Capital. He has a strong track record in out-of-the-box investments, particularly in commercial and multifamily properties. Before focusing on real estate full-time, he founded Steinbach Financial, providing insurance and investment services for 15 years. Since 2011, Owen has excelled in private real estate investments, showcasing his skill in building relationships and overseeing projects from start to finish.
What is a syndication?

Syndication is the pooling of investor money where the investor is typically a limited partner and the general partner, or active partner, puts the deal together and manages the business plan to provide a return for the benefit of all investors.

What is the Partnership Agreement?

The Partnership agreement documents describe the offering, risks, includes the partnership agreement, investment summary and subscription agreement. It is a lengthy legal document prepared by an attorney. The subscription agreement section includes basic information as to amounts being purchased and percent ownership. The risk section highlights just about every possible risk that could happen.

When will I get my original investment back and what is an expected hold period?

We model each investment with a 5-7 year hold period. This provides ample time to execute our development plan and then cash flow for a few years while looking for an opportunistic exit. Some investor principal could be returned as early as year 2 from a refinancing event or we may want to continue to cash flow till year 7, if the market is down in year 5.

What is the minimum investment?

Minimums vary from deal to deal but generally are set at $25-50K with preference given to investors with more to invest.

When and how will I get paid?

Investor distributions vary from deal to deal but most syndications make quarterly distributions once the development project is complete and tenants have filled the buildings

How will you communicate with me?

We’ll provide monthly or quarterly email updates on the investment’s progress including construction status/pictures, rents we are getting, and the distribution amount for the period. You will also receive a T-5013 statement from us in March of each year for your tax filing.

What are the tax implications?

Apartment syndications are very tax efficient. As a limited partner, you will benefit from your portion of the investment’s deductions for property taxes, loan interest, depreciation, etc. At the time of sale, the partnership gains are treated as long-term capital gains.

Do you invest in your own deals?

Yes – We operate on a core value of treating investors’ money as if it were our own. We invest alongside our clients in every deal.

Do you perform a sensitivity analysis?

Yes – We model different scenarios to show our breakeven point for profitability given a decline in occupancy or if rents drop below projections.

What are the general partner fees?

The returns forecasted are described in the investor presentations and vary from deal to deal. The most common fee is an acquisition fee based on purchase price and is paid at closing. This covers the general partner’s costs to find the deal and get it under contract. On development deals the acquisition fee is quite small compared to the overall deal size. The second most common fee is the asset management fee which is compensation for holding the property manager accountable, to ensure execution of the business plan, bookkeeping, and distribution of checks and T5013s. The asset management fee is aligned with the investor’s interest as it is based on the property’s revenues. Industry averages are 1-3 % for both fees. Fees will be outlined in the Partnership Agreement documents.