Business
Zack Dovner works as Corporate Counsel, and Deal Analyst on the acquisitions team at Eastham Capital, a private equity real estate investment business focused on buying, improving, stabilizing, and selling distressed multifamily real estate. In this role, Zack is well-positioned to help us understand the basic structure of private equity funds and the ‘who’ does ‘what’ with regard to limited partners and sponsors in joint real estate acquisition ventures. He offers his perspective on: screening potential sponsors, Eastham’s requirement of sponsor co-investment and ways to incentivize the sponsor in executing the business plan, value-add strategies, underwriting every new deal to stress-test assumptions, the challenges of the fundraising side of the business and the ‘keep smiling while you’re dialing’ mindset. By far, the hardest part of the job for Zach is saying no to a potential investor whom you like and respect when the deal does not meet company requirements.