Syndication BreakdownDeal structures, distribution waterfalls, and the sponsors who run them

Terms of use

The terms on which Syndication Breakdown is made available: no advice, no warranty, limited liability, and what you may do with the content.

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By using this site you accept these terms. If you do not accept them, please do not use it.

What this site is

A publication of general educational material about United States real estate syndication, made available free of charge and funded by display advertising.

It is not investment, legal or tax advice, not an offer or solicitation in respect of any security, and not a service of any kind. It creates no adviser relationship, no attorney-client relationship, no fiduciary duty and no other duty. The disclaimer sets this out in full and forms part of these terms.

No warranty

The site is provided as it is, without warranties of any kind, express or implied. No guarantee is given that the content is accurate, complete or current, that the site will be available or uninterrupted, or that it is free of errors.

Securities and tax rules change. Articles are accurate to the best of my ability on the date shown and are not systematically revised afterwards. Verify against the primary sources linked with each article before anything turns on it.

Limitation of liability

To the fullest extent permitted by applicable law, the publisher is not liable for any loss or damage — including any investment loss, loss of profit, loss of data, or any indirect or consequential loss — arising from use of, or reliance on, this site or anything published on it.

Nothing in these terms excludes or limits liability where the law does not permit it to be excluded or limited, including liability for fraud.

Your use of the content

You may read, print and quote from this site. Quotation with attribution to Syndication Breakdown and a link to the source page needs no permission, and is welcome.

You may not republish articles in full, copy the site or a substantial part of it, present the content as your own, or use it to train a model or build a derivative product without written permission. Write to editor@syndicationbreakdown.com; requests are considered.

Automated access is permitted for ordinary search engine crawling. Scraping at a rate that degrades the service for others is not.

Links to government agencies and other primary sources are provided so that you can verify what is written here. Those destinations are outside my control, and linking to one is not an endorsement of anything else it contains.

Advertising

Advertising is served by third parties and is labeled. Any transaction you enter into with an advertiser is between you and them; the publisher is not a party to it and has no responsibility for it. See the advertising disclosure.

Privacy

The processing of personal data is described in the privacy policy and the cookie policy.

Contact details and postal address

The publisher is Nil Masferrer Jiménez, an individual publisher in Spain, contactable at editor@syndicationbreakdown.com.

The postal address is not published on the site, for the reason given in the privacy policy: this is a single-person publication written from a home. It is provided on request to a competent authority, and to anyone with a legitimate interest in receiving it, including for the purpose of serving a legal notice. Write to the address above and it will be given.

Governing law

These terms and any dispute arising from them are governed by the law of Spain, and the courts of Spain have jurisdiction, without prejudice to any mandatory protection available to you as a consumer under the law of your own country of residence.

Changes

These terms may be updated. The revision date at the top shows when they last were. Continuing to use the site after a change means accepting the revised terms.