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The CRE Humor Jokes

When the OM Says 'Value-Add' But It’s Just a Roof and a Prayer

ricklahkar
May 3
1 min read

Broker: It’s “light value-add” Lender: Need 10-year TIs/LCs, SNDA, estoppels, and a seismically retrofitted horoscope Client: Close Friday at a 6 cap, non-recourse, EMD hard day 1, and free parking? Me underwriting at 2 a.m.: If we rebrand the roof as an amenity deck, IRR hits 19% 🤡🏢

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The CRE Humor Jokes

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