5 Deal Structures That Close Today
We see what's working because we power the deals our GP customers are closing. Get proven strategies for high-rate, choosy-LP real estate markets—straight from the platform data.
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The Market Has Changed
Investors are more choosy and selective than ever. With rising rates and increased due diligence timelines, GPs need creative deal structures to get deals to close. Traditional structures aren't cutting it in today's market conditions.
Inside Look at What's Actually Working
Covercy powers thousands of commercial real estate deals. We see the types of structures GPs are using, the deals they're closing, and the properties they're purchasing. This guide shares real insights from our platform data on what's working right now.
What's Inside
Sale-Leasebacks with "Credit-ish" Tenants
Lock in long-term, lease-backed income with credit-adjacent tenants. Higher cap rates (8-9%) than investment-grade deals with near-credit stability.
Hybrid Pref Equity with an Upside Kicker
Inject flexible, higher-yield capital into your stack. Floating-rate coupons protect investors from rising rates, with equity ratchets for performance upside.
Graduated Waterfalls for 15%+ IRR
Design performance hurdles and GP/LP incentive tiers. Multi-hurdle waterfalls reward even modest outperformance with clear, tiered splits.
Co-GP & Revenue Share Deals
Give early investors a slice of sponsor economics. Share GP carry and fees on first tranches to accelerate capital raises and build trust.
Syndication Triggers & Anchor Protections
Use milestones, side-letters, or MFNs to secure capital. Predefined triggers unlock funding tranches while protecting anchor LPs with downside safeguards.
Why This Guide Matters
This isn't theory—it's what's working right now in the market.
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