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What's Unlevered Yield?
Roxanne Jones: Explain to me what an unlevered yield is and how you structure the deal such that your LPs participate in it or your wealthy friend who runs a hedge fund versus you all as the guys who are pulling it together. How do you decide if that's reasonable or not? Well, you always know that you can go into the market today. You can go there's a bunch of buildings for sale in Los Angeles. And you can expect to receive somewhere between three and a half and four and a half percent on your money every year from buying that. The answer is, you want to make sure that that yield materially exceeds what you could get by just going out on