This is the sixth and final  post in our ongoing real estate private equity case study on how a construction loan is underwritten by potential lenders.  This installment will provide a deal summary and a wrap up that includes a cautionary tale about construction lending.  To read the previous posts in the series, click on … Underwriting a Construction Loan – Summary & Wrap Up Read More »

This is the fifth post in our ongoing real estate private equity case study on how a construction loan is underwritten by potential lenders.  This installment will focus on collateral analysis.  To read the previous posts in the series, click on the links below:  Post #1:  Introduction & Setup Post #2:  Borrower Analysis Post #3:  … Underwriting a Construction Loan – Collateral Analysis Read More »

This is the fourth post in our ongoing real estate private equity case study on how a construction loan is underwritten by potential lenders.  This installment will focus on repayment analysis.  To read the previous posts in the series, click on the links below:   Post #1: Introduction & Setup  Post #2:  Borrower Analysis Post #3:  Guarantor … Underwriting a Construction Loan – Repayment Analysis Read More »

This is the third post in our ongoing real estate private equity case study on how a construction loan is underwritten by potential lenders.  This installment will focus on guarantor analysis.  To read the previous posts in the series, click on the links below:   Post #1:  Introduction & Setup  Post #2:  Borrower Analysis The intent … Underwriting a Construction Loan – Guarantor Analysis Read More »

This is the second post in our ongoing REPE Case Study on how a real estate private equity construction loan is underwritten by potential lenders.  This installment will focus on borrower analysis.  If you haven’t had a chance to read the first post, you can do so by clicking here. The intent of this article … Underwriting a Construction Loan – Borrower Analysis Read More »

Executive Summary / “TLDR” The U.S. self storage industry got started in the 1960s in the state of Texas, where most homes lack basements (and thus extra storage space). Self storage units back then were simple boxes with garage-like doors that locked. The industry has evolved somewhat since then, with large, multilevel structures housing indoor … Sector Series: Self Storage Read More »

Note: If you have not already read Part 1 of the Multifamily Sector Series, you may want to start there. Part 1 provides a basic overview of multifamily real estate, including categories of multifamily, market characteristics, and historical performance. We cover the basics for those new to real estate private equity, but also dig into … Sector Series: Multifamily (Part 2) Read More »

Executive Summary / “TLDR” The multifamily or apartment sector is the “core-est” of the core real estate sectors and has attracted a wide range of real estate investors. Over the long-term, the sector has proved itself with strong performance, good liquidity, and a straightforward operating model. One differentiating factor versus other sectors is that the … Sector Series: Multifamily (Part 1) Read More »

Executive Summary / “TLDR” The net lease sector is defined by its lease structure as opposed to its property type, like most other sectors. The net lease sector encompasses a mix of property types, including office, industrial, and retail properties. The common feature among all of these properties is that the tenant is subject to … Sector Series: Net Lease Read More »

Executive Summary / “TLDR” Retail is a fairly diverse sector, encompassing everything from small neighborhood shopping centers to large super-regional malls. This report applies to all types of retail, but is geared toward shopping centers, which make up around 80% of all retail space in the U.S. In the last several years, online shopping, or … Sector Series: Retail Read More »