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Common Return Metrics in a 5-Year Syndication

Syndication returns usually come from cash flow + profit at sale + preferred return (if included).

• 5–8% per year during the hold
   
• Some value-add deals may start lower (3–5%) and rise after renovations
   

• 15–20% IRR is often cited as a “good” 5-year value-add multifamily deal
   
• Core/stabilized deals might be 10-14% IRR
   

This tells you how much your money grows.

• 1.5× to 2.0× is common
   
  • 1.5× means $100k becomes $150k over 5 years
     
  • 2.0× means $100k becomes $200k over 5 years
     

• Typically 6–8%, paid before the sponsor takes their share