As the owner of a real estate development company, you have been asked to complete a joint venture development with another development company to create a $100-$unit condo complex. This project will have a total cost of $$5$ million, with each partner contributing capital equally. At the conclusion of development, each condo will be sold, and a condo association will be created. The partnership will dissolve once all units have been sold. In considering this project, address the following questions.

What would be the pros and cons of embarking on this joint venture?

What additional information would you want to know prior to making a decision?

Do you make the investment in the project or do you turn it down? Outline any assumptions you make to aid in your decision.