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- Retail leases often involve some type of revenue sharing, called percentage rents or overage - Interest Rate Risk, Roll-over, Credit Risk of Tenant , Operational, Liquidity, Zoning and Reg - MC is the mortgage payment in 1st period (month) divided by the total mortgage amount at origination Debt Service Coverage Ratio DSCR = Net Income/ Debt

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TermsNo puse todo tax (session 10)Falto a parti de hoja 4

Ver Session 12 Default13, GL, scenarios15, CMBS, calculos apartir de slide 14 entran? Para mi no, solo quiere mostrar el pooling effect14 construir o no

Rent/Price=(roughly)=User Cost

- Retail leases often involve some type of revenue sharing, called percentage rents or overage - Interest Rate Risk, Roll-over, Credit Risk of Tenant , Operational, Liquidity, Zoning and Reg - MC is the mortgage payment in 1st period (month) divided by the total mortgage amount at origination Debt Service Coverage Ratio DSCR = Net Income/ DebtConsiderations Substantial entry cost (at least $1 million) plusfurther investment for few years down the road Illiquid (locked-up in long term investment) If a private equity real estate firm can't find suitable investment opportunities, it will not draw on an investor's commitmentWaterfall distribution of profitsa) preferred return for limited partnersb) carried interest to GP (promote)c) split arrangements for additional profits, if any

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