Question
A property has a projected year 1 NOI of $200,000. NOI is projected to grow by 5% per year for the following 3 years, then
A property has a projected year 1 NOI of $200,000. NOI is projected to grow by 5% per year for the following 3 years, then by 4% per year for the subsequent 2 years and by 3% constant rate afterward. Given a required return of 15%, what is the value of the property?
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Handbook Of The Economics Of Finance
Authors: George M. Constantinides, Milton Harris, Rene M. Stulz
1st Edition
044459406X, 978-0444594068
