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あらすじ・解説
The podcast episode provides an in-depth discussion on the capital stack involved in a recent large-scale real estate acquisition by VestCapital. Host Tanner Wideriksen explains how they structured the deal, emphasizing the importance of understanding how the capital stack is arranged, particularly for investors in commercial real estate. The project involved acquiring three multifamily buildings and identifying additional legal lots, which allowed for further development opportunities.
Tanner elaborates on the different financing layers, including senior debt, preferred equity, and a construction holdback loan. He highlights the importance of cautious leverage to ensure the project can service its debt, even if the market downturns. The episode concludes by discussing the project's timeline, with plans for additional development and a potential liquidity event for investors in the form of a sale or refinance, where they will receive their principal investment plus a share of the profits.