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Pavel Korchagin · 2024年01月04日

什么叫cap rate

  1. CFA II
  2. Corporate Issuers

* 问题详情，请 查看题干

NO.PZ202210140300000103

问题如下：

Which of the following statements best describes Jupiter’s average capitalization rate for the sale-leaseback transactions? Jupiter’s average capitalization rate:

选项：

A.

is supported by the comparable transactions.

B.

compares favorably to the comparable transactions

C.

compares unfavorably to the comparable transactions

解释：

A is correct. Jupiter’s average capitalization rate for the sale-leaseback transactions is 5.50%, which is supported by the median of the 25th, 50th, and 75th percentile cap rates for sale transactions for similarly situated properties with similar lease terms in the last three years (5.00%, 5.50%, and 6.00%).

B and C are incorrect because Jupiter’s average capitalization rate for the sale-leaseback transactions is 5.50%, which is supported by the median of the 25th, 50th, and 75th percentile cap rates for sale transactions for similarly situated properties with similar lease terms in the last three years (5.00%, 5.50%, and 6.00%).

rt

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1 个答案

王琛_品职助教 · 2024年01月05日

嗨，爱思考的PZer你好：


1

这个概念咱们在 Alternative Investments 另类投资学科中会再深入讲解

当前可以理解为是对房地产估值所使用的折现率

2

比如房地产价值 100 万，每年收租 10 万，则 cap rate 为 10%

如果两个房子，每年的收租金额一样，那么 cap rate 较大的房子，价值较低

类似用 DCF 对股票估值：相同的期间现金流，折现率越大，估值越低

3

这道题是根据原版书 P215 例题 15 的第二小问改编的

如果同学还有疑问，可以再听一下老师的 Case 讲解，理解思路即可

请参考基础班视频 Restructurings Actions: Balance Sheet Restructuring

3.1

案例背景第一段最后一句话，对 cap rate 的初次介绍

3.2

第 2 题，结合题目，对 cap rate 的分析

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虽然现在很辛苦，但努力过的感觉真的很好，加油！

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NO.PZ202210140300000103 问题如下 Whiof the following statements best scribes Jupiter’s average capitalization rate for the sale-leasebatransactions? Jupiter’s average capitalization rate: A.is supportethe comparable transactions. B.compares favorably to the comparable transactions C.compares unfavorably to the comparable transactions A is correct. Jupiter’s average capitalization rate for the sale-leasebatransactions is 5.50%, whiis supportethe meof the 25th, 50th, an75th percentile crates for sale transactions for similarly situateproperties with simillease terms in the last three years (5.00%, 5.50%, an6.00%). B anC are incorrebecause Jupiter’s average capitalization rate for the sale-leasebatransactions is 5.50%, whiis supportethe meof the 25th, 50th, an75th percentile crates for sale transactions for similarly situateproperties with simillease terms in the last three years (5.00%, 5.50%, an6.00%). 如题

2024-04-20 09:21 1 · 回答

NO.PZ202210140300000103问题如下 Whiof the following statements best scribes Jupiter’s average capitalization rate for the sale-leasebatransactions? Jupiter’s average capitalization rate: A.is supportethe comparable transactions.B.compares favorably to the comparable transactionsC.compares unfavorably to the comparable transactions A is correct. Jupiter’s average capitalization rate for the sale-leasebatransactions is 5.50%, whiis supportethe meof the 25th, 50th, an75th percentile crates for sale transactions for similarly situateproperties with simillease terms in the last three years (5.00%, 5.50%, an6.00%). B anC are incorrebecause Jupiter’s average capitalization rate for the sale-leasebatransactions is 5.50%, whiis supportethe meof the 25th, 50th, an75th percentile crates for sale transactions for similarly situateproperties with simillease terms in the last three years (5.00%, 5.50%, an6.00%). 老师，这道题是说相比较于三个四分位点的数值，5.5%是合理的，是这个意思吗？这个考点考的是什么呢？谢谢老师!

2023-01-11 13:09 1 · 回答