Understand the Deal
Before You Commit Capital
Complex deal structures, waterfall provisions, and GP terms can be hard to parse. Upload the documents, ask hard questions, and get clarity on what you are actually investing in.
Deal Structures Are Getting More Complex
Every sponsor structures deals differently. Waterfall provisions, preferred returns, catch-ups, clawbacks, fee structures. Understanding what you are actually signing up for takes significant effort.
Waterfall Complexity
An 8% pref with a 70/30 split sounds straightforward until you see the actual waterfall has three tiers, a catch-up provision, and different splits for different IRR hurdles. Modeling it out takes hours.
Fee Stacking
Acquisition fees, asset management fees, disposition fees, construction management fees, refinancing fees. Each one seems small until you add them up and realize how much of the return goes to the GP before you see a dollar.
Hidden Terms
The PPM is 150 pages. The operating agreement is another 80. Somewhere in there are provisions about capital calls, dilution, removal rights, and what happens if things go wrong. Finding them takes time.
Ask Hard Questions. Get Clear Answers.
Upload the deal documents. The AI reads everything: the PPM, operating agreement, pro forma, rent roll, sponsor track record. Then ask whatever you want to know.
Upload Everything
Drag and drop whatever the sponsor sent you: PPM, operating agreement, pro forma, market reports, sponsor financials. The AI processes and understands all of it.
Get an Analysis
Groundstone analyzes the deal: property fundamentals, sponsor background, financial projections, market conditions. You get a structured overview before asking a single question.
Ask Anything
Ask specific questions in plain English: "What happens to my investment if occupancy drops below 80%?" "What fees does the GP collect and when?" "What are my removal rights?" The AI finds the answers in the documents.
Know What Questions to Ask
Not sure what to ask? The AI suggests questions based on what it found in the documents. It highlights areas that warrant more diligence and flags terms that are unusual or aggressive.
Questions You Can Ask
The AI understands the full deal context. Ask anything from basic clarifications to complex structural questions.
Deal Structure
- "Walk me through the waterfall structure"
- "What is my actual return at a 15% IRR?"
- "How does the catch-up work?"
Fees and Economics
- "What total fees does the GP collect?"
- "What is the GP's skin in the game?"
- "Are there any fee offsets?"
Investor Protections
- "What are my removal rights?"
- "Can I be diluted? Under what circumstances?"
- "What happens if there's a capital call?"
Deal Fundamentals
- "What assumptions drive the pro forma?"
- "How realistic is the rent growth projection?"
- "What are the risks not mentioned in the deck?"
Not Sure What to Ask?
The AI does not just answer questions. It suggests questions you should be asking based on what it found in the documents.
Example: AI-Suggested Due Diligence Questions
Based on analysis of a value-add multifamily deal:
Rent Growth Assumption
The pro forma assumes 5% annual rent growth, but the market study shows 3.2% historical growth. Ask: "What supports the 5% rent growth assumption?"
Renovation Budget
Budget shows $8,500/unit for renovation but comparable deals in the market averaged $12,000/unit. Ask: "What scope of work is included in the renovation budget?"
GP Track Record
Sponsor bio mentions 3 completed deals but no realized returns disclosed. Ask: "Can you provide realized returns on your prior deals?"
What You Get
More than just answers. Full deal comprehension.
Structured breakdown of property, financials, sponsor, and market conditions.
Ask unlimited questions. Get answers with citations to source documents.
AI-generated questions based on deal specifics. Know what to look for.
Understand Before You Invest
Complex deals deserve thorough analysis. Upload the documents, ask hard questions, and make confident decisions.