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George Smith Partners is originating Joint Venture equity relationships with a West Coast discretionary fund looking to “keep it simple” in order to execute additional transactions by year-end. Rehab/reposition transactions are preferred although non-multifamily ground-up will be underwritten as well. Retail is high on the “needs” list. Equity is structured with a 90/10 co-invest for up to a five year hold period as they desire a multiple over an IRR. Equity slugs will be from $10,000,000 up.