Question
Assume that you are a real estate developer and owner. You just completed a commercial project and now want to place a permanent mortgage on
Assume that you are a real estate developer and owner. You just completed a commercial project and now want to place a permanent mortgage on it. The land cost $30M and the sum of hard and soft costs was $120M. The bank is requiring that you obtain insurance at the full replacement cost. How much is that?
| $150M | ||
| $30M | ||
| $120M | ||
| $90M |
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Public Finance
Authors: Harvey S Rosen
7th Edition
0072876484, 978-0072876482
