You will capitalize the project with a 70% first mortgage based on the purchase price, a mezz loan equal to 50% of the equity after application of the first mortgage with 90% of the remaining equity needed sources from a money partner. The partner will require a 5% cumulative preferred return. In addition, the partner will require 9% IRR look back prior to any splits of the remaining cash flow upon sale.

You are to calculate the overall return to the investor and to you.