Live Deal Flow

A 300-unit stabilized garden-style acquisition in the Sunbelt. Classic GPR → NOI bridge with institutional-grade assumptions.

A 100-unit stabilized multifamily acquisition: smaller scale and rounder numbers than Sunbelt, same Analyst teaching loop.

Street-front retail at Hudson Yards. Foot a four-lease rent roll to potential gross rent, price the leases that roll inside the hold, reserve for TI/LC, then exit on forward NOI.

A vacancy-heavy CBD office tower in lease-up. Ramp occupancy from 62% to 90% in annual steps, fund the leasing capital, and find a bid that clears.

A 300-unit value-add multifamily acquisition in Austin, TX. Bridge renovation premiums into exit NOI and cap rate.

VP-tier 5-year multifamily acquisition. Roll four floor plans up into Year-1 gross potential rent, then granular OpEx, amortizing debt, and full returns analysis.

Foundations NNN industrial with a six-line OpEx build (each line a share of EGI) — same skeleton as Ridgeview. Full lease-level institutional retail is Project Rosewood.

A real self-storage revenue build: a six-size unit mix feeding Street GPR, the achieved-vs-street rate gap, and month-to-month turnover's Move-In Concessions — before the lean six-line OpEx build and conservative leverage.

Ground-up industrial: construction draws with capitalized interest, lease-up to stabilized NOI, permanent takeout, multi-year hold, then sale. Merchant build-then-hold — not a day-one flip.

A 450-bed purpose-built student housing acquisition at a 6.8% going-in cap, underwriting cap rate compression to a 5.75% exit cap. Preleasing drives occupancy and whole-property annual turnover drives real make-ready and leasing costs — mechanics a standard apartment model doesn't have.

A small grocery-anchored retail center: the same NNN rent-per-SF, debt-schedule, and exit mechanics as Cascade Logistics Center, at neighborhood-shopping-center scale.

A tri-asset Sunbelt portfolio recap with pooled pref equity. Size each asset's exit value, net existing debt, and run the pooled proceeds through a GP catch-up and residual promote split.

A JV promote paid deal-by-deal instead of at the end. Roll the pref account forward on capital still outstanding, promote the GP at each of three distributions, then run the European lookback and claw back the excess.

Build the rent roll into NOI, size acquisition debt at the binding LTV / DSCR / debt-yield constraint, then refinance at Year 3 off then-current NOI. Cash-out after the prepayment penalty feeds MoIC and IRR alongside the Year-5 exit.

Six leases, not one blended rent. Schedule escalations and free rent, bill NNN CAM, take downtime and TI/LC when three leases roll, mark those spaces to market, size debt at the binding of LTV / DSCR / debt yield, and split the levered strip through a JV waterfall.

Underwrite a hotel the way an owner does: RevPAR and room nights into departmental P&Ls, USALI costs down to GOP, brand and management fees, an FF&E reserve, and a debt-yield-constrained loan feeding unlevered and levered IRR.

No NOI, no exit cap: the return is sales revenue less all-in cost. Fund a budget equity-first, draw and capitalise a construction loan, sweep closings to the lender and carry unsold units — then measure profit on cost and IRR.

Net lease in one model: contractual rent steps instead of growth, a cap rate that prices the tenant's credit, interest-only debt sized by DSCR, and an exit cap that widens as the lease runs down.

Underwrite senior housing the way an operator-owner does: resident-by-level revenue with care fees, labor as the dominant cost, move-in costs from turnover, and a DSCR-bound loan against thin lease-up income.

Underwrite power, not square feet: phased megawatt delivery, kW-month rents with escalators, O&M that runs on delivered capacity, a loan-to-cost construction loan, and the development spread that decides whether to build.