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What is the value of an investor refinancing one of his existing properties if he desires a balanced portfolio of properties? Provide an example of

  1. What is the value of an investor refinancing one of his existing properties if he desires a balanced portfolio of properties? Provide an example of this rationale.
  2. What is a tax-free property exchange under the Internal Revenue Code (IRC) and what is the exact language in the IRC section that describes this type of exchange of real property? Explain.
  3. What are the appropriate criteria to define a lease as a finance lease?
  4. In the planning and permitting process for new construction, if the __________ denies the application with _____________, that means that the specific application in question cannot be resubmitted by the developer again for approval. Fill in the blanks.
  5. At what time are lenders of Acquisition and Development Loans (ADL) at the greatest risk? Provide a full list of the measures developers can take to get ADL approval.

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