Interposer-based multi-FPGA systems are composed of multiple FPGA dice connected through a silicon interposer. Such devices allow larger FPGA systems to be built than one monolithic die can accomodate and are now commercially available. An open question, however, is how efficient such systems are compared to a monolithic FPGA, as the number of signals passing between dice is reduced and the signal delay between dice is increased in an interposer system vs. a monolithic FPGA.We create a new version of VPR to investigate the architecture of such systems, and show that by modifying the placement cost function to minimize the number of signals that must cross between dice we can reduce routing demand by 18% and delay by 2%. We also show that the signal count between dice and the signal delay between dice are key architecture parameters for interposer-based FPGA systems. We find that if an interposer supplies (between dice) 60% of the routing capacity that the normal (within-die) FPGA routing channels supply, there is little impact on the routability of circuits. Smaller routing capacities in the interposer do impact routability however: minimum channel width increases by 20% and 50% when an interposer supplies only 40% and 30% of the within-die routing, respectively. The interposer also impacts delay, increasing circuit delay by 34% on average for a 1 ns interposer signal delay and a four-die system. Reducing the interposer delay has a greater benefit in improving circuit speed than does reducing the number of dice in the system.