"This is happening to a-grade retail as well, I have never seen the incentives so high. On one perspective deal 1.5yrs rent as contribution on a 7 year lease.
But I think there is a reason for this, its keeps their 'gross rent per square meter' higher, and that number is the primary number used in valuations (in conjunction with the cap rate)"
Sounds very much to me like accounting alchemy.
Which is one of the issues I have with investing on the based of NAV's derived via capitalising rentals at a certain, and eve- changing, cap rate; there's always some risk of the garbage-in; garbage out variety distorting the NAV calculation.
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"This is happening to a-grade retail as well, I have never seen...
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$3.24 |
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Mkt cap ! $16.83B | |||
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| Price($) | Vol. | No. |
|---|---|---|
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