Boots Dunlap

CEO and Co-Founder of RRA Capital

[Boots Dunlap @boots_dunlap]

Do you think the American economy would be more resilient if we kept rates higher for longer?

A: Yes
B: No

[Boots Dunlap @boots_dunlap]

Family Office Investor: Well, your returns are too low. I've been getting 250-bps higher in real estate equity.

Real Estate Debt Fund Manager: Is that before or after you adjusted your NAVs to reflect current cap rates?

Family Office Investor: I have to make a tee time.

[Boots Dunlap @boots_dunlap]

Debt Fund Manager Conversation with a Family Office....

Family Office Investor: We don't invest in real estate debt because we'd have to pay ordinary income tax (37%). We would rather invest in real estate equity and pay capital gains tax (20%).

[Boots Dunlap @boots_dunlap]

Family Office Investor: But its still more tax drag.

Real Estate Debt Manager: You do know the IRS is incentivizing you to take more risk. Debt is senior to equity. On a risk-adjusted basis 50-bps is less than the risk premium for equity.

[Boots Dunlap @boots_dunlap]

Austin, TX. Led the nation in MF development and rental rate growth from 2003-2023. Now leads the nation in MF rental rate declines. Proof that best way to improve affordability is to build more units.

[Boots Dunlap @boots_dunlap]

CMBS Surveillance: Four Properties that have Lost Value at Recent Appraisals https://t.co/2dWi3Kg58G

[Boots Dunlap @boots_dunlap]

Bank Earnings Review – Q2 2024: Increased Revenues but Higher Rates Continue to Impact Bank Performance https://t.co/3Jy0vHpbG1

[Boots Dunlap @boots_dunlap]

Bank CRE Loan Performance in Q1 2024 Signals Rising Risks: What Lenders & Investors Need to Know from Criticized Loan Trends https://t.co/c2nuv6x9IT

[Boots Dunlap @boots_dunlap]

CMBS Issuance Balloons in 1H to $42.29 Billion https://t.co/kBhsFuVj0u

[Boots Dunlap @boots_dunlap]

Fixed vs. Floating-Rate Loans 101: Trepp’s Essential Guide to Managing CMBS Investment Strategies https://t.co/44h93P0LHH

[Boots Dunlap @boots_dunlap]

Beach Listens: Top Five Most-Listened-to Episodes of The TreppWire Podcast in 2024 (So Far) https://t.co/8l0R53G3dU

[Boots Dunlap @boots_dunlap]

Beach Reads: Trepp's Top Five Blogs of 2024 (So Far) https://t.co/tKooIe5Mb5

[Boots Dunlap @boots_dunlap]

European Market Update: UK GDP; Two CLO Deals, One Reset; Margin Reductions for Strong ESG Assets https://t.co/rL3UTFPnFV

[Boots Dunlap @boots_dunlap]

@AYStrauss @RRACapitalCRE Thanks for having me on Aaron!

[A.Y. Strauss @AYStrauss]

New Podcast Episode! Aaron Strauss sits down with @boots_dunlap, Co-founder and CEO of @RRACapitalCRE. Boots discusses his career as a military officer, his leadership in the world of commercial real estate, and much more.

https://t.co/gVibZoBpu3

#CommercialRealEstate #investor