부동산개발사업의 투하자본과 수익분배의 최적화 구조

Optimization Structure of Investment and Profit Distribution in Real Estate Development Projects

Currently, large-scale real estate complex development projects are in crisis due to rising land costs, discussion of the introduction of the post-sale system of residential facilities, reduced demand for office and retail facilities, and increased volatility of demand. Based on the actual large-scale real estate complex development project conducted in Seoul, this study explores the structure of defining real estate development risks, efficiently distributing related risks between GPs and LPs, and appropriately distributing the gains and losses between the two, using simulation techniques. This study aims to contribute to securing and developing a feasible business structure in the real estate development financial market in the future by designing and proposing various capital and incentive structures to control GP’s behavior from the perspective of LPs for sustainable real estate development financing.