http://realpropertyalpha.disqus.com/Investment Real Estate, Incremental Innovation, and A Spreadsheet for EverythingenMon, 25 Jan 2010 20:07:58 -0000http://realpropertyalpha.com/2010/01/22/selective-myopia-in-demand-based-market-projections/#comment-31327724Sounds like an interesting deal.ReederMon, 25 Jan 2010 20:07:58 -0000http://realpropertyalpha.com/2010/01/22/selective-myopia-in-demand-based-market-projections/#comment-30938988one of the best deals i underwrote was at the end of 2006/begin 2007 close. vons anchored retail center. working class neighborhood of a white collar area. owner had some issues with tenants and vons was closing nearby stores. property had a difficult, above market loan in place. i underwrote it with the facts on the table. raising rents only slightly (and below market) and renovating the facade. vons ended up ponying up $2M to redo their store with us. and we defeased the loan cause the seller said emphatically it couldnt be done. reversion cap of 8%. things making money hand over fist and should have no issue selling at the 8% cap. it was a rare deal cause the seller and broker didnt realize what they had in front of them. now that im working in ownership id give my right nut to find that deal again.joshuaFri, 22 Jan 2010 21:56:51 -0000