@RagingVentures CLO? Its equity ownership in a project leased to hyperscale tenant, for the construction they get 85-90% LTC at S+225 (or better in case of the beignet deal but that’s wholly different) and then on completion go ABS so still highly levered but amortizing, it’s a good biz
@StudentRentPro Ann Arbor, think UofM has the best undergrad experience coupled with job prospects/network, at least for Ross grads, and can’t imagine enrollment declining. Q for you, is a capture rate analysis standard for new deals you’re evaluating or not necessary if it’s a smaller asset?
@eliastdragon IRC costs up 100%+ on bridge debt, imagine more pronounced on agency floaters originated last two years, probably eroding close to 1% annually