Why might an investor prefer a loan with a lower interest rate and participation?

Why might a lender prefer a loan with a lower interest rate and participation?

What is the motivation for a sale$-$leaseback of the land?

Chapter $15$

$2.$ What factors would tend to make leasing more desirable than owning?

$3.$ Why might the cost of a mortgage loan be greater than the cost of using unsecured corporate debt to finance corporate real estate?

$5.$ What would cause the rate of return for an investor that purchases real estate and leases it to the corporation to differ from the rate of return earned by the corporation on the incremental investment in owning versus leasing the same property?

$7.$ Why is the value of corporate real estate often considered hidden from shareholders?

$11.$ Why has real estate often been a key factor in corporate restructuring?

Chapter $16$

$4.$ What is a standby commitment? When and why is it used?

$5.$ A presale agreement is said to be equivalent to take$-$out funding that may be used to repay the construction loan. What will the construction lender be concerned about if the developer plans to use such an agreement?

$6.$ What is the major concern construction lenders express about the income approach to estimating value for a proposed development project? Why do they prefer to use the cost approach when possible? In the latter case, if the developer has owned the land for five years prior to development, would the cost approach be more effective? Why or why not?

$9.$ What is sensitivity analysis? How might it be used in real estate development?

$10.$ It is sometimes said that land represents a "residual" value. This statement reflects the fact that improvement costs do not vary materially from one location to another, whereas rents vary considerably. Hence, land values reflect changes in rents $($both up and down$)$ from location to location. Do you agree or disagree? Answer all with $2-3$ sentences. I will give an instantaneous like.