The numbers were intoxicating.
The text posits that the Cap Rate is essentially the unleveraged discount rate, minus growth expectations. Therefore: $$ \textCap Rate = \textRisk-Free Rate + \textRisk Premium - \textGrowth $$ real estate finance & investments risks and opportunities
Desperate, Maya remembered a different file on her desk—one she’d ignored as “boring.” A mixed-use redevelopment in a low-income neighborhood called The Bend . The sponsor was a non-profit developer named Elena Cruz. The numbers were intoxicating
Maya went to Julian with a Hail Mary.