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Any build to suit developers here? It's a space I am increasingly fond of lately and wanted to get an idea of profitability here. For example, I own a pretty good piece of land. On one side there is a Wendy's on the other is a McDonald's, so the location is pretty good for another restaurant chain. I am just trying to understand the... 6 days 1 hour
Working with equity placement agents/capital...Previously we were raising money through our private client list, but lately we been approached by several placement agents that like our portfolio and acquisition criteria. I know typically fees vary anywhere from 5%-7%. How are the fees structured? Some of them are asking for an upfront retention... 5 months 3 weeks
How much do CRE brokers lie? Currently been bidding on this retail strip center and I truly skeptical of what the broker is saying about other bids. He works for one of the big brokerages. Anyways I know there are brokers on this board or former brokers, how often did you provide "misleading" information to increase bidding... 7 months 3 weeks
Real Estate Appraisal Question?This is a simple question for the lenders/appraisers currently here. Currently looking at cashing out on one of our properties, but want to gauge the value of the property. Our current bank that we have a strong relationship with is most likely going to finance this. However, if we order the... 8 months 2 weeks
Max LTV from lenders?Currently looking at buying a property that is coming into my market for my family. Looking to do a cash out refi on one and then use that capital to buy the other. Was doing the calculations and need about an 85% LTV, which I know sounds ridiculous, but I am being told that since we are still... 8 months 3 weeks
Land Development Questions?So in the area near where I live there is prime area that's for sale on the market. The total price we are looking at is $250k, which is actually very good for 2 acres. The deal is off-market, which allows us to get a really good price and we have known the seller for 15 years. Now this is a... 9 months 4 weeks
Have you ever been fired or laid off?Was in the middle of cleaning filing cabinets at home and saw an old termination letter from one of my first jobs. Though it was several years ago, I can still remember it like yesterday. A new boss came in, who was an incredibly terrible person, and only focused on cost cutting. She had no clue... 11 months 2 days
Make a wish foundation gets kid an internship at... Let's see how many idiots start claiming they have cancer now. 12 months 18 hours
95/5 Equity Structure QuestionCurrently working on a deal where the sponsor is putting in 5% of the required equity. The 95% is coming from a pension fund. The sponsor has listed an acquisition fee in the loan amount. The package states that the sponsor will consider the fee to be used as the 5% equity portion. Is this... 1 year 2 months
When is the market going to shift to a buyers...I wanted to start a healthy debate on the future of CRE prices going forward. Let's be honest, prices are overheating, especially in top markets like NYC, SF, DC. I been seeing cap rates for trophy assets under 5%. some even under 3%. The only cap rates at 9% or 10% are some serious risky... 1 year 3 months


Preview Freshness
Agreed. Chicago should be there instead of...Agreed. Chicago should be there instead of Seattle. Even Miami is higher up on the list than Seattle. 4 days 1 hour
Cool. Yea, I know its impossible to determine...Cool. Yea, I know its impossible to determine cost because it depends on market, I was just making sure that there are sizable spreads that exist for developers. These small NNN retail assets trade for millions even in podunk areas. The cost to build them would be extremely cheap, so just making... 4 days 18 hours
I guess what I am basically trying to understand...I guess what I am basically trying to understand is the development cost involved here. For example, a McDonald's trades for 3.5%-4% cap. Is it possible to develop one for a 7% cap? A lot of these asset's values are based on the credits, however, there seems to be nothing special about the... 5 days 1 hour
Typically its a two tier structure, developer (...Typically its a two tier structure, developer (sponsor) and equity investor. You start with a basic pref, could be 8%-10%. Then your hurdles come into play. Now when you say you have 3 partners, do you mean their will be 3 different structures, because that sounds like an absolute nightmare to... 6 days 23 hours
SHB: Which is my way of saying "developers aren'...[quote=SHB]Which is my way of saying "developers aren't dumb, there has to be more to this."[/quote] History begs to differ. 1 week 3 days
I am also amazed by this everyday. I just got a...I am also amazed by this everyday. I just got a notification about a senior loan for a Starbucks build to suit. The interest rate is 11% or something of that nature. Those things have cap rates less than 6%. It's astounding someone would do this, but I guess they are want to build a name for... 1 week 3 days
What you're referring to is a Co-GP. It is quite...What you're referring to is a Co-GP. It is quite common, but you need to have a crazy track record. 1 week 5 days
For those saying the principal side makes a ton...For those saying the principal side makes a ton of money and is stable are completely wrong. All of this depends on multiple things such as AUM, promote structure, and deal flow. You have to hustle in both brokerage and principal the same amount. You think people build up $500 million+ in AUM... 2 weeks 21 hours
There are lots of one man sponsor shops out there...There are lots of one man sponsor shops out there. As for what other said, focus on one property type first. Get really good at it. You pretty much have to quit your day job otherwise no investor will take you seriously. My suggestion is to save enough money to buy smaller deals and build up a... 2 weeks 5 days
It really varies on market and the value you are...It really varies on market and the value you are adding. For example, I am sure NYC, SFC, Miami, will get lower debt yields. I seen a debt yield as low 5.8%, but the value add was very simple in this, the apartment rents were 30% lower than the comps and the OpEx % was like 60%. Also the sponsor... 3 weeks 1 hour