RiskAdjReturn

when you analyze the real estate investments in terms of "down payments" (ie the equity "check"), is the financing non-recourse or recourse? on recourse financing, such as one's personal resi, really best to think of in terms of total value (not the home equity). if you are making bets with non-recourse financing, that's fantastic and kudos to you

Actually really bummed to hear this as your real estate ideas and rigor have been great. I just now got official posting privileges but had read only during crisis. Let me appeal to you to NOT leave completely. would love to see continuity with your commerical RE names particularly. your understanding of the nuances and " inside baseball" have been great. I may DM you from time to time. Im very long pgre now.... and mildly long ALX. and big in macerich ( you havent mentioned this one)