NO.PZ2022122601000031
问题如下：
An analyst at a real estate investment management firm seeks to establish expectations for rate of return for properties in the industrial sector over the next year. She has obtained the following information:
Estimate the expected return from the industrial sector properties based on the data provided.
选项：
解释：
The expected
change in the cap rate from 5.7% to 5.5% represents a (5.5% – 5.7%)/5.7% = 3.5%
decrease.
Using the expression E(Rre) = CapRate + NOI growth rate – %ΔCapRate = 5.7% + (1% + 1.5%) – (–3.5%) = 11.7%.
Note: As the cap rate is expected to decrease, property values are expected to increase, hence the cap rate change contributes to the expected return.
中文解析：
上限率从5.7%到5.5%的预期变化代表(5.5% - 5.7%)/5.7% = 3.5%的下降。
使用表达式E(Rre) = CapRate + NOI增长率- %ΔCapRate = 5.7% +(1% + 1.5%) -(- 3.5%) = 11.7%。
注:由于封顶率预计会下降，物业价值预计会增加，因此封顶率的变化有助于预期回报。
the expected return =current cap rate+nominal NOI growth rate-change rate of cap rate=5.7%+1%+1.5%-（5.5%-5.7%）/5.7%=11.71%
