Passive Development Investing
Invest in the build, not the burden.
Invest as a Limited Partner. TESA is your General Partner.
You may want the returns of multiplex and apartment development without the weight of running one: the decisions, the management, the experience it demands. Or you may want into a project that is out of reach on your own. Syndicate Build is built for both. You invest as a Limited Partner. TESA acts as the General Partner, runs the project, and coordinates the other Limited Partners who invest alongside you.
How It Works
The structure.
Each project is held in a limited partnership, the standard structure for real estate development investing.
Limited Partners
contribute equity and hold a passive stake. No management duties, and liability limited to the investment.
The General Partner, TESA
contributes the management and the expertise: sourcing the site, proving the feasibility, building the project, and structuring the financing.
The limited partnership agreement
governs it all: contributions, distributions, decisions, and exits, in writing.
The Flow of Capital and Work
How capital and work move through the partnership.
- Limited PartnersEquity
- General Partner (TESA)Management and expertise
- LenderFinancing
The partnership pays the trades who build the project.
Aligned By Design
The waterfall.
Distributions follow a defined order, known as the waterfall, designed around two principles.
- Protect the downsideInvestors receive their capital back with a priority return before the General Partner shares in profits.
- Reward performanceThe General Partner's share of profits comes only after investors are made whole.
The exact terms are set out per project in the limited partnership agreement. We build alongside your capital, and our upside is earned on results, not participation.
A GP That Builds
Most syndicators coordinate. TESA builds.
Most syndicators coordinate other people's work. TESA is the developer: the brokerage that finds and underwrites the site, the feasibility that proves it, the division that designs and builds it, the superstructure arm that frames it, and the capital group that structures the financing.
When your General Partner is the builder, the distance between your capital and the work is one roof, not a chain of vendors.
Multiplex and apartment development in the Greater Toronto Area: the missing-middle and purpose-built rental the market is short of, proven by a TESA feasibility study before a dollar of partnership capital is committed. Every opportunity begins as analysis, not as a pitch.
Whoever You Are
A way in, on your terms.
A way in, with the work in experienced hands.
New to development.
Passive by design, reported to you, run by us.
Busy with your own world.
Real assets, real projects, a stake in what gets built.
Building wealth.
Co-invest, and let the partnership carry the scale.
Not ready to carry a project alone.
How It Begins
The TESA Investor Registry.
Opportunities open project by project, and each raise is finite: when a partnership's allocation is complete, it closes. New opportunities are presented first to the TESA Investor Registry, our list of qualified, registered investors.
Joining is straightforward: book an investor consultation, where we discuss your goals and eligibility, and register your interest. From then on, when an opportunity fits, you see the analysis before anyone else: the feasibility, the plan, and the terms, in writing.
No cost and no obligation at any step, but positioning matters; by the time a project is public knowledge, its raise is often already filled.
Specific opportunities, terms, and eligibility are discussed privately and documented in the limited partnership agreement.