An Argument for the More Widespread Use of Ground Leases in the United States

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis An Argument for the More Widespread Use of Ground Leases in the United States by : Christopher T. Carr

Download or read book An Argument for the More Widespread Use of Ground Leases in the United States written by Christopher T. Carr and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the most senior financial claim in the capital stack of a commercial real estate investment, ground leases have been deployed as an ownership strategy for centuries. Only in recent years has the singular investment thesis of the modern ground lease been proven in both the public and private markets by companies such as Safehold, Haven Capital and Montgomery Street Partners. As the nascent industry grows and matures, these companies aim to eliminate the opacity associated with uncertain future ground lease cash flow streams to both enhance the value of the leasehold interest to lessors and lessees and provide a bond-like security for investors. This strategy has yielded strong risk-adjusted returns to lessors, as evidenced by Safehold's public valuation at a significant premium to its underlying net asset value, a rarity in the current market environment. Yet, the ground lease sector of commercial real estate remains small on a relative basis, and some market participants continue to be wary of transacting on ground leased properties in the same manner that they would transact on properties owned in fee simple. This paper argues that there is significant, scalable opportunity for new entry into the ground lease sector of commercial real estate and further identifies multiple new structural components to be included in the modern ground lease. These new clauses should further align the interests of all property-level participants as well as increase liquidity for both the leased fee interest and the leasehold interest. Through industry research, an academic literature review and a simple, case-based numerical model, this paper demonstrates the viability of an expanded ground lease market and outlines the threshold stress limits that impact profitability. In times of relatively high interest rates, such as late 2022, this paper argues that ground leases with the structure proposed herein should be viewed as an attractive alternative financing source.

Ground Lease-Based Land Use System Versus Common Interest Development

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Total Pages : 41 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Ground Lease-Based Land Use System Versus Common Interest Development by : Feng Frederic Deng

Download or read book Ground Lease-Based Land Use System Versus Common Interest Development written by Feng Frederic Deng and published by . This book was released on 2013 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, we observe brisk growth of ground lease-based land use systems, such as shopping centers and malls, and Common Interest Developments in retail and residential real estate, respectively. I argue that the ground lease system is an efficient response to the hold-up problem in urban land use, which is due to two spatial facts: the bundled consumption of a private good (land) and collective goods, and limited ex post mobility of landowners. The ground lease system incorporates the core merits of the Henry George view combined with Tiebout competition. But, bundled consumption may also require a tradeoff in property rights. The different characteristics of retail and residential real estate determine the dominance of the ground lease systems and CIDs, respectively.

United States Law Review

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ISBN 13 :
Total Pages : 994 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis United States Law Review by :

Download or read book United States Law Review written by and published by . This book was released on 1899 with total page 994 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The English Reports: Common Pleas (1486-1865)

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ISBN 13 :
Total Pages : 1338 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The English Reports: Common Pleas (1486-1865) by :

Download or read book The English Reports: Common Pleas (1486-1865) written by and published by . This book was released on 1912 with total page 1338 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The English Reports: Common Pleas

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ISBN 13 :
Total Pages : 1332 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis The English Reports: Common Pleas by :

Download or read book The English Reports: Common Pleas written by and published by . This book was released on 1912 with total page 1332 pages. Available in PDF, EPUB and Kindle. Book excerpt: V. 1-11. House of Lords (1677-1865) -- v. 12-20. Privy Council (including Indian Appeals) (1809-1865) -- v. 21-47. Chancery (including Collateral reports) (1557-1865) -- v. 48-55. Rolls Court (1829-1865) -- v. 56-71. Vice-Chancellors' Courts (1815-1865) -- v. 72-122. King's Bench (1378-1865) -- v. 123-144. Common Pleas (1486-1865) -- v. 145-160. Exchequer (1220-1865) -- v. 161-167. Ecclesiastical (1752-1857), Admiralty (1776-1840), and Probate and Divorce (1858-1865) -- v. 168-169. Crown Cases (1743-1865) -- v. 170-176. Nisi Prius (1688-1867).

Reports of Cases Argued and Determined in the English Courts of Common Law

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ISBN 13 :
Total Pages : 588 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Reports of Cases Argued and Determined in the English Courts of Common Law by :

Download or read book Reports of Cases Argued and Determined in the English Courts of Common Law written by and published by . This book was released on 1839 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Cases Argued and Decided in the Supreme Court of the United States

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ISBN 13 :
Total Pages : 1508 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Cases Argued and Decided in the Supreme Court of the United States by : United States. Supreme Court

Download or read book Cases Argued and Decided in the Supreme Court of the United States written by United States. Supreme Court and published by . This book was released on 1926 with total page 1508 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reports of Cases Argued and Determined in the Court of Common Pleas

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ISBN 13 :
Total Pages : 706 pages
Book Rating : 4.R/5 ( download)

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Book Synopsis Reports of Cases Argued and Determined in the Court of Common Pleas by : Great Britain. Court of Common Pleas

Download or read book Reports of Cases Argued and Determined in the Court of Common Pleas written by Great Britain. Court of Common Pleas and published by . This book was released on 1840 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Hearings

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ISBN 13 :
Total Pages : 1522 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Hearings by : United States. Congress. Senate. Committee on Interior and Insular Affairs

Download or read book Hearings written by United States. Congress. Senate. Committee on Interior and Insular Affairs and published by . This book was released on 1949 with total page 1522 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Outer Continental Shelf

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ISBN 13 :
Total Pages : 224 pages
Book Rating : 4.0/5 (13 download)

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Book Synopsis Outer Continental Shelf by : United States. Congress. Senate. Committee on Interior and Insular Affairs. Special Subcommittee on Outer Continental Shelf

Download or read book Outer Continental Shelf written by United States. Congress. Senate. Committee on Interior and Insular Affairs. Special Subcommittee on Outer Continental Shelf and published by . This book was released on 1970 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Popular Science Monthly

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ISBN 13 :
Total Pages : 902 pages
Book Rating : 4.:/5 (334 download)

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Book Synopsis The Popular Science Monthly by :

Download or read book The Popular Science Monthly written by and published by . This book was released on 1890 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Hearings, Reports and Prints of the Senate Committee on Interior and Insular Affairs

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ISBN 13 :
Total Pages : 1450 pages
Book Rating : 4.:/5 (36 download)

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Book Synopsis Hearings, Reports and Prints of the Senate Committee on Interior and Insular Affairs by : United States. Congress. Senate. Committee on Interior and Insular Affairs

Download or read book Hearings, Reports and Prints of the Senate Committee on Interior and Insular Affairs written by United States. Congress. Senate. Committee on Interior and Insular Affairs and published by . This book was released on 1969 with total page 1450 pages. Available in PDF, EPUB and Kindle. Book excerpt:

HUD Condominium/cooperative Study: National evaluation

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ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis HUD Condominium/cooperative Study: National evaluation by : United States. Department of Housing and Urban Development

Download or read book HUD Condominium/cooperative Study: National evaluation written by United States. Department of Housing and Urban Development and published by . This book was released on 1975 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mining Science

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ISBN 13 :
Total Pages : 700 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Mining Science by :

Download or read book Mining Science written by and published by . This book was released on 1911 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mining American

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ISBN 13 :
Total Pages : 596 pages
Book Rating : 4.U/5 (183 download)

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Book Synopsis Mining American by :

Download or read book Mining American written by and published by . This book was released on 1911 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Law Times

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ISBN 13 :
Total Pages : 730 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis The Law Times by :

Download or read book The Law Times written by and published by . This book was released on 1852 with total page 730 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Imagining Babylon

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Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 1614519587
Total Pages : 460 pages
Book Rating : 4.6/5 (145 download)

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Book Synopsis Imagining Babylon by : Mario Liverani

Download or read book Imagining Babylon written by Mario Liverani and published by Walter de Gruyter GmbH & Co KG. This book was released on 2016-07-11 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ever since the archaeological rediscovery of the Ancient Near East, generations of scholars have attempted to reconstruct the "real Babylon,” known to us before from the evocative biblical account of the Tower of Babel. After two centuries of excavations and scholarship, Mario Liverani provides an insightful overview of modern, Western approaches, theories, and accounts of the ancient Near Eastern city.