@moseskagan London based impact investor across Africa ( debt, PE, funds). Looking at low cost housing, student accommodation and warehousing primarily. Your tweets are gold. Thank you
Some thoughts on prefs
1. Context: It's impossible to say whether a certain pref & promote structure is fair, equitable, good, whatever, without context.
Context means asset class, sponsor strength, debt terms, time horizon, basis, everything.
There are no magic numbers.
New bold experimental cities/communities will boom over the next 10 years
These new "startup anti-cities" will unlock so much potential
Stop and think about this:
@MichaelBlackson 1) high cost of finance (developer and purchaser) 2) high cost of construction 3) low risk adjusted returns 4) high taxes on construction inputs