Chapter 11 Introduction - The Discount Rate and Chapter Roadmap
From Commercial Real Estate Explained · 4:34
Show by CI Team
Lily and Alex introduce Chapter 11 by defining the discount rate as the expected total return required by investors, combining a risk-free rate with a property risk premium to discount unlevered cash flows. They also outline the upcoming roadmap for determining discount rates, finding exit cap rates, and avoiding common DCF valuation mistakes. Produced by Alli Garmon and Nicole Jordan. Audio generated by Thomas Autino and WondercraftAI.© 2026 CRE Explained Podcast Team.Based on Commercial Real Estate Analysis for Investment, Finance, and Development (4th Edition) by David M. Geltner, Norman G. Miller, Alex van de Minne, Piet Eichholtz, Thies Lindenthal, and Lily Shen.Developed through Clemson University Creative Inquiry (CI) 4980, under the supervision of Dr. Lily Shen.Reference Material: Commercial Real Estate Resources | CREBook.net
More episodes of Commercial Real Estate Explained
More episodes
- Section 13.2 - Capital Gains Tax in Real Estate and How the 1031 Exchange Defers It
- Section 13.3 - The Vertical Pro Forma, Positive Leverage, and Why Before-Tax Analysis Sets Market Value
- Section 13.4 - From Pre-Tax to After-Tax Investment Analysis and Why Pre-Tax Works as a Shortcut
- Section 12.2.2 - Leverage, Risk, and the Market Price of Risk
- Section 12.3.1 - Understanding WACC and Positive vs. Negative Leverage in Real Estate
- Section 12.3.2-12.3.3 - WACC, Return Components, and Risk
- Section 12.4-12.4.1 - Why WACC Falls Short for Real Estate and How Mortgage Payments Work
- Section 12.4.3 - Equity Cash Flow, Equity IRR, and the Effect of Debt Cost on Leverage
- Section 12.5 - The Power and Peril of Leverage in CRE
- Section 13 Introduction - After-Tax Real Estate Investment Analysis
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