The TI Change Order That Ate My Cap Rate
- ricklahkar
- Apr 12
- 1 min read
Broker: Lease signed! Lender: Clear to close! GC: About that "minor" TI—it’s now a capital campaign 🚧 Underwriting me: 6-week build; City: surprise plan check + 'heritage beam' review; schedule now "Q4-ish" Client: Why did CAM spike? Me: We pulled 200 amps so the espresso machine you "don’t need" can purr Excel IRR: 17% | Change Order Email: new IRR is vibes 😂
.png)

Comments