What Loan-to-Value Means in Private Real Estate
Loan-to-value is debt divided by value, but which value? Price, appraisal, and projected stabilized value give three different answers on one building.
Loan-to-value is debt divided by value, but which value? Price, appraisal, and projected stabilized value give three different answers on one building.
Direct ownership, a REIT, or a sponsored private offering: what each costs a stock-and-bond investor in time, fees, transparency, and liquidity, and who each suits.