a 65% LTV secured loan that we'd be offering would have the equivalent of an A rating or better (obviously you wouldn't state it in this fashion since your loan is not rated by a rating agency).Yes, this is relatively illiquid and as such, it would be strongly suggested that this constitute no more than 25% of an investor's assets.

Architecture is fashion just like clothing.

I wish in true BP fashion there was a way to turn this into a MikeOH inspired "Post your numbers" thread.

Who you are, what you do, what you like about Austin, etc. in circular fashion around the table2.

Nothing like some good old-fashioned competition!

There might have been an inspection requiring repairs and those repairs were not made in a timely fashion, resulting in a rent abatement.

In this market, if the payments are made in a timely fashion the odds of that lender initiating a call are precisely zero.

I end up being an unofficial mentor to several people who have done business with me in some fashion.

Good old fashioned MAYBE.

Similar in fashion to mutual funds versus hedge funds.Also, REITs tend to be more liquid, whereas PERE typically require you to park your money with them for a period of time, often 10 years.Here's a few links which may be helpful:http://en.wikipedia.org/wiki/Private_equity_real_estatehttp://www.wallstreetoasis.com/forums/real-estate-pe-vs-reithttp://www.cpexecutive.com/newsletters/capitalmarkets-newsletter/reitscolumn/reits-versus-real-estate-private-equity-funds-who-wins/Damon