Premium Essay

South Park Iv

In:

Submitted By jaqk224
Words 987
Pages 4
South Park IV Question 1
Given certain indicators of slow market growth and the high purchase price being advertised by the seller, this is most likely a bad investment for Laflin and his investors. While employment growth may be on the rise, the lack of speculative construction is troubling as this implies the market is not expecting an increased demand. In any case, when considering the expiration of the current tenants’ above market rents and the unfortunately low current market rents, Laflin would still need a great deal of growth in addition to a lower negotiated price to make this investment profitable.

Question 2 Laflin’s setup suffers from some overly optimistic assumptions. His revised set up assumes a base rent of $200k, which would imply that the current tenants keep paying their current rents, when the tenants have actually explicitly stated they would only extend their rents if they could pay the market rate of $2.00 PSF. If Laflin were to find new tenants, he would incur additional expenses of $230k ($2.50PSF x 80,000 SF = $200k, 15% x $200k first year rents = $30k). Additionally, Laflin would then be exposed to the market vacancy rates, which his potential competitors’ show averages to about 16%. Furthermore, given that market rents are $2.00 PSF, new tenants would most likely only be willing to pay this lower rate. The only Hope Laflin would have is for the market to grow so he could raise the rents every year on new tenants (assuming they sign a lease which allows him to raise such rents). My model displays how Laflin’s setup changes if he takes into account the varying vacancy rates, and what price reductions he would have to ask for if he were to hope for a positive operating leverage.

Question 3 Laflin’s decision to make an offer for the property will be based on his manipulation of various factors.

Assuming New Tenants, Moderate

Similar Documents

Premium Essay

South Park Iv

...1. Is this a good property for Laflin to acquire? The property can be set up to produce positive returns for the investors. So in essence, yes it’s a good deal for them. However, a good deal for the investors also depends on what they’re expectations for financial returns on the property is and what they consider to acceptable returns. If the property yields 5% return but the investors minimum expectation is 10%, then the deal would not be considered good although it provides a positive return. 2. What assumptions has Laflin made in creating his setup for SouthPark IV? What changes, if any, would you make to his setup? What is your projected return for SouthPark IV? There are a number of assumptions made by Lafflin in creating his setup for SouthPark IV. For starters, he uses a 5% vacancy rate which compared the list of provided competitor occupancy and rental rates is much lower. I would adjust the occupancy rate in the setup to be more closely aligned with that of building 9 since it’s the most comparable in size. That would mean using a vacancy rate of about 47%. Secondly, he also assumes rental income rates that appear to be higher than market rates. Lafflin should lower the rates to reflect current markets rates and create a more realistic expectation. Third, I would also adjust assumptions around management fee and structural reserves. In both cases, they remain flat at 4% and $15k respectively, when it’s likely that the fee will change over time and additional...

Words: 587 - Pages: 3

Free Essay

South Park

...South Park The Beginning The first time the four main characters of South Park, four boys named Stan, Kyle, Kenny and Cartman, appeared in a video clip, was when Trey Parker and Matt Stone made “The Spirit of Christmas: Jesus vs. Frosty” (1992). In this short video clip, the boys already looked a lot like the characters they would create to make South Park, the one difference being that Cartman was called Kenny at that time and Kenny had no name. When Brian Graden, Fox network executive, saw this clip, he commissioned Parker and Stone to make a second one as an animated Christmas Card. This time it was called “The Spirit of Christmas: Jesus vs. Santa Claus” (1995) in which Jesus and Santa Claus fight over the meaning of Christmas. This animated short was widespread throughout Hollywood and the internet and became such a success that the duo was offered the possibility of developing it into a series. Given that Fox did not want to distribute it because of the presence of Mr. Hankey, a talking piece of feces, Comedy Central picked up the offer. The very first episode called “Cartman gets an anal probe” was aired on August 13, 1997. Ownership and Market Today, the show is still aired on Comedy Central. This channel however, has gone through a number of ownerships since South Park’s first episode made it to the screen. When the channel was first created, it was owned by Time Warner, the same company that owns HBO, a well known premium cable television network, and called The Comedy...

Words: 3264 - Pages: 14

Free Essay

Eng 102 Controversy Paper

...Hypocrites of America The episode of South Park called ‘Goobacks’ is a prime example of how some Americans are hypocrites. I say this because the situation in the episode is exaggerated in a creative sense, but the underlines of the episode speaks of reality in today’s world. In this episode, people from the future come back to the present. These men and women work the jobs most Americans will not work and work these jobs for a lot less money to begin with because they feel less money is still money to them. Of course the Americans became angered that the ‘Goobacks’ (what the Americans called them), took “their” jobs and did not quite understand English. The famous line from this episode, “Took yer jurb!” (Comedy Partners), in English means ‘Took our jobs’. This line is frequently said by Americans, because in reality some Americans feel it is true. There are a great deal of immigrants that come to America for a better life. For instance immigrants from Ireland, Mexico, Cuba, and so on. These immigrants take jobs that most Americans see as beneath them since they pay so low. But yet some Americans become angered and say that these immigrants are taking ‘their’ jobs, even though these jobs were not taken in the first place. That is why I feel those people are hypocrites because they say these jobs are theirs, but yet they do not work these jobs. But in essence, how can those jobs possibly be ‘their’ jobs to begin with. They do not own those jobs and they definitely do not...

Words: 597 - Pages: 3

Free Essay

South Park - Media Contextual Analysis

...Contextual Analysis After watching South Park: Bigger, Longer & Uncut, there were many paradigms and depictions made in the film that is able to tell us about American society at the time it was made. From making the decision to watching this film based on preference over the contrasting Fight Club, Galaxy Quest, and George A. Romero’s Diary of the Dead, it was evident that I grew up in a generation who was entertained by this type of crude, tasteless humor. As I have technically been adult for nearly two years, this show is intended for mature audiences. However, it seems that show is very popular for audiences under 18 for its less than acceptable content to parents. Throughout the film itself, there are many themes and paradigms how youths in American society were entertained in at the time whether if its their language, behavior, or popular culture. According to Linda Holtzman, themes are “subjects that are introduced in the media text and can be minor, significant, or central to the unfolding of the story” (Holtzman, 2000). This film utilizes the four main characters Eric Cartman, Stan Marsh, Kyle Broflovski, and Kenny McCormick; all of which are third graders. In the beginning of the film, they are all shown attending an R-rated film ‘Asses of Fire’, a film that most, if not all parents would not allow or encourage their children to watch. This is evident from the inappropriate behavior and rude jokes and its themes that the characters begin to take after and...

Words: 594 - Pages: 3

Free Essay

Catcher in the Rye- Ducks

...is refusing to grow up. There are many symbols of his youth throughout the book, such as his curiosity about ducks. "I was thinking about the lagoon in Central Park, down near Central Park South. I was wondering if it would be frozen over when I got home, and if it was, where did the ducks go. I was wondering where the ducks went when the lagoon got all icy and frozen over. I wondered if some guy came in a truck and took them away to a zoo or something. Or if they just flew away. (pg. 13)" Holden Caufield is a 17 year old boy who deals with the issue of growing up. Holden is at his time in age where he is forced to grow up, even though he doesn't want to. Holden has been trying to protect his innocence for quite some time, as he does not like the idea of growing up. Holden’s misunderstanding of the ducks is one example of his innocence. Knowing where ducks go during the winter is a simple fact that young children learn as they grow up. We do not know for sure how much Holden knows about the ducks, but we can conclude that this little fact, which is common knowledge, shows how Holden is protecting his innocence. Holden is trying to prevent himself from growing up by protecting himself from simple childhood facts. ""Hey, listen," I said. "You know those ducks in that lagoon right near Central Park South? That little lake? By any chance, do you happen to know where they go, the ducks, when it gets all frozen over? Do you happen to know, by any chance?" I realized...

Words: 603 - Pages: 3

Free Essay

Catcher in the Rye

... He could put it on and pretty much be in his own world. He would put his hat on whenever he wanted and feel comfortable with it. “That hat [he] bought had earlaps in it, and [he] put them on-[he] didn’t give a damn how [he] looked” (53). “[He] pulled the peak of [his] hunting hat around to the front all of a sudden, for a change” (34). He usually wore his hat backwards like a baseball player, but all of a sudden he got quite nervous and put it to the front. The ducks is an important motif in the novel. Holden was always wondering what happens to the ducks when the river freezes. He would wonder where they go because they wouldn’t have a place to live. He asked the cab driver “You know those ducks in that lagoon right near Central Park South? That little lake? By any chance, do you happen to know where they go, the ducks, when it gets all frozen over” (60)? Holden even cared to see if they were around. “[He] figured [he’d] go by that little lake and...

Words: 376 - Pages: 2

Free Essay

Port

... 35 9 50 T 52 15 47 48 15 2 AD RO RO YB NN DO RD 100 Metres 3 ING RD 51 36 T ENGINEER 49 CES RD SOCIAL SCIEN 45 IENCES RD STUDENT HUB & PLAZA REDEVELOPMENT CONSTRUCTION ZONE (SEE NORTH RIDGE MAP FOR ACCESS ROUTES AROUND CONSTRUCTION ZONE) OK 34 CENTRAL PARK PHYSICAL SC 9 THE STURT CREEK TRAIL Loop Bus Stop (departs Car Park 15 & Registry Road Bus Stops at Bedford Park) 33 T 46 THE LOOP TRAIL Flinders University Pod Tonsley Main Assembly Building (MAB) 32 T 42 BIOLOGY RD Flinders University at Tonsley 5 LAKE ACCESS PATH 8 42 40 54 27 9 17 29 45 36 48 49 30 20 UT 23 TONSLEY LOOP BUS 40 41 T Approx 3km to Bedford Park Campus H FLORA PARK REGISTRY RD LOOP BUS STOP BUILDINGS 25 West Side 6 T PRECINCT ENTRANCE Tonsley Loop Bus D 24 1 SOUTH RIDGE 24A West Side Alawoona Avenue BUS STOP BICYCLE PATH Clovelly Park Train Station SO E 20 LIFT BUILDING ENTRANCE TONSLEY PRECINCT MAP 19A SOUTH RD S DRIV R FLINDE OA 22 MAJOR LECTURE THEATRE SEC PRECINCT 21 BUILDING NUMBER 19 NORTH RIDGE GR ACCESS PARKING T FIRST TCE FOREST CARPARK NUMBER 3 PRECINCT FOOT BRIDGE RIN OA D STURT 20 FLINDERS TRAILS Lecture Theatres 53 53 TRAFFIC LIGHT RAE CR ESENT ...

Words: 540 - Pages: 3

Premium Essay

Stan Marsh's Use Of Satire In South Park

...In recent years, satire has taken many forms, including cartoons, targeting societal flaws. The Comedy Central television show South Park denotes how seemingly disparate issues are actually interconnected. The protagonists of the show are four young kids living in a fictitious town of South Park, Colorado, mostly overrun by white people; seemingly providing an undisclosed moral lesson. Eric Cartman, an egocentric racists, and schemer of the group. Stan Marsh tends to acquire the most knowledge and be the voice of rationality, while Kyle Broflovski, Eric’s biggest enemy but Stan’s best friend, is persistently being humiliated for being Jewish. Last but not least is Kenny McCormick, the poor kid who muffles all his words. Every new episode recreates...

Words: 260 - Pages: 2

Free Essay

Rhino Case

...Case Discussion: Rhino Capture in Kruger National Park Assignment Questions: 1. What is SANParks / Kruger National Park’s objective and vision? Is selling rhino consistent with their objective and vision? If not, then what should it be? * Kruger National Parks objective: Population control, broadening of the range for populations, spreading the risk of managing wildlife, making the populations more resilient and viable, and fund-raising for specific conservation and land-expansion programs. I think that selling is within their objective, population control, fund-raising for specific conservation and land expansion. 2. Who are the suppliers of rhino and what was the average selling price of a rhino? * The suppliers of rhino are South Africa National Parks (SANParks), the rhinos are worth between 30,000 and 35,000. 3. What is different about selling to a safari company and a hunting company? 4. How does a sale to a hunting and safari company affect the economy? 5. What are the driving forces behind poaching? Asia and India * The driving forces behind poaching include: rhinos horn, Asians believe that rhinos horns are very beneficial aphrodisiac and Indians desire rhino horn daggers. 6. How would you reduce poaching? * I would impose a jail sentence of 10-15 years in prison and fine of $500,000(US). 7. How would you reduce poaching if a rhino’s horn could be cut and re-grown in six years? * I would allow for the rhino’s horn to trade...

Words: 290 - Pages: 2

Premium Essay

Rhino Case

...II. Define the Problem Case 27: Rhino Capture in Kruger National Park brings about many ethical questions and concerns one of the world’s greatest animals, the rhino. Kruger National Park (established in 1898) was a part of South African National Parks (SANParks). According to the case text, by the turn of the century white rhinos were said to not exist at Kruger National Park anymore. However in 1961, white rhinos were re-introduced to the park. In 2009, there were said to be 10,000 white rhinos and 500 black rhinos located within the park. Because of the significant number of rhinos located within the park, management from within decided to being selling some of the rhinos at auction; however, selling the rhinos was under one condition: “its removal could not negatively impact the populations from which it came.” White rhinos tended to sell faster than black ones because since they were less rare and were less aggressive. Some of the biggest issues presented in this case were: Kruger National Park did not know to whom they were selling the rhinos, poaching on Kruger National Park land for the rhinos horn (leaving rhinos dead or tranquilized and in pain to the point they could be killed by other animals,) and the loss of funding that Kruger Park was undergoing. In the Asian population, it was said that to rhino horns worked to retain their cultural beliefs and also that the horn of a rhino could cure cancer as it is said to be “a very beneficial aphrodisiac”, which in fact...

Words: 556 - Pages: 3

Free Essay

General Meeting

...MEL PARK HOMEOWNERS' ASSOCIATION, INC. MINUTES OF GENERAL MEETING January 26,2013 6pm Gazebo Present: Lily Ann Valera - Vice-President Rio Reyna - Secretary Tess Velasco - Director Attendees: Block 1 Block 2 Allen Hoyohoy L 5 Boyet & Grace Macaranas L 26 Norma Yap L 29 Ana Marie Elles L 24 Helen Montemayor L 9 Delia Tagulao L 31 Gomer Lanuza L 4 Princess Boado L 36 & 37 Aureen Lumico L 17 & 18 Le Marvin Perfas L 34 Jose Enrique Cavalida L34 Dennis Manango L 23 Marivic dela Cruz L 39 & 40 Aireen Ordiz L 30 Block 3 Block 4 Cheryl Alburo L 3 Rene Maglana L 2 Cecil Reyes L 36 Rosedo & Aurora Jeresono L 5 & 7 Irene Hablero L 17 & 19 Riza Pelobello L 5 Nessh Lugtu ...

Words: 787 - Pages: 4

Free Essay

Rhino

...1.    What is SANParks / Kruger National Park’s objective and vision? Is selling rhino consistent with their objective and vision? If not, then what should it be? VISION SANParks: South African National Parks connecting to society. Kruger national park: “to protect the nation’s fast-dwindling wildlife areas” Objectives: * Population control * Broadening of the range for populations * Spreading the risk of managing wildlife * Making the populations more resilient and viable * Fund raising for specific conversation and land expansion programs According to SANParks’/ Kruger national park this was in line with their vision although a lot of other parties didn’t think the same. SANPark says it has to sell rhinos because it was critical to its conservation efforts to maintain the sale of animals to private entities. It also helped reach their objectives. “selling rhinos was for the greater good” 2.    Who are the suppliers of rhino and what was the average selling price of a rhino? Suppliers: • SANParks • Kwa Zulu Natal Wildlife • North West Province • The private sector Average selling price: 30300 USD 3.    What is different about selling to a safari company and a hunting company? When a safari company buys an animal this is mostly in a cow/calf combination, and these are not hunted. When a hunting company bought rhinos, they usually buy bulls for hunting purpose. overall white rhinos were selled the most because of...

Words: 617 - Pages: 3

Premium Essay

Real Estate Finance and Investment

...Victoria Park 82/3 Defries Avenue Zetland NSW, 2017 Valuation Report Property Overview This spacious apartment is located within the Form building in Victoria Park. The current rental price is $640 per week with $2,560 bond. This property is on level 1 of the building with an open plan living and dining area that flows effortlessly out onto the oversized balcony. The apartment includes two double sized bedrooms each with built-in wardrobes and main with en-suite, one separate study area, two bathrooms, luxurious gourmet kitchen equipped with stainless steel appliances and Caesar stone bench tops, internal laundry and single secure undercover car space. The Victoria Park is equipped with gym, swimming pool, spa, barbeque area, and excellent security system and identification locking system. In this report, we used three main valuation approaches from the views of developers, investors and owner-occupiers to value the property. Location and Transportation Surrounded by natural beauty, Zetland is the ideal location to make a home. Two of Sydney’s finest golf courses, The Australian Golf Club and Moore Park Golf Club are a mere pitching wedge away. Nearby, the Sydney Cricket Ground and The Sydney Football Stadium cater for spectator needs, and Randwick racecourse is just down the road when people are in the mood to step out in the season’s latest fashion, or to have flutter each way on the fillies. Zetland has many schools surrounded such as James Cahill Pre School...

Words: 2069 - Pages: 9

Free Essay

Holiday

...HOLIDAY Specific Purpose: To inform my audience the three types of most beautiful places for holiday around the world. Central Idea: The three types of most beautiful places for holiday in the world are Venice Italy, Maldives South-West of Sri Lanka and Oak Valley Snow Park in Gangwon Province South Korean. INTRODUCTION I. Do you know where are the most beautiful places for holiday around the world? II. As far as I know, I can tell you the three most beautiful places for holiday that you can ever visit, that are Venice, Maldives and Oak Valley Snow Park. III. The three places that I have mentioned just now has been ranked as number two in the world that is Maldives, Venice as number five and lastly Oak Valley Snow Park as number 10 around the world. IV. Today, I would like to inform you the three most beautiful places for holiday around the world. (Transition: After you have listened to my introduction, let us move to my first point.) BODY I. Firstly, the first place that is the best for holiday is Venice, Italy. A. Venice is one of Italy’s top cities and a beautiful, romantic destination with many attractions. B. Its small, traffic-free streets along the winding canals make for great walking. 1. You’ll will find many magnificent churches and palaces, lively squares, and interesting shops. C. Venice actually consists of 117 bodies of land connected by more than 400 bridges over its 150 canals. 1. The Grand Canal...

Words: 1104 - Pages: 5

Premium Essay

Informative Speech

...and how the life over there is. Thesis Statement: New Zealand is a very unique country. Introduction: I. Attention Getter: What do Orlando Bloom, Jack Black, and Sam Worthington have in common? II. Relate to Audience: Wouldn’t be nice to just go to a place surrounded by water? III. Establish Credibility: We have found that New Zealand is a very interesting country to go to. IV. Today we would like to tell you about the history of New Zealand, the weather, the wildlife, food, people and places to go. I want to start of by telling the history and the weather in New Zealand. Body: I. New Zealand was founded by an explorer a. According to newzealand.com the first explorer to reach New Zealand was Kupe, who made land fall over 1,000 years ago b. It is located in the south west Pacific Ocean, about 1,242 miles east of Australia. c. The capitol of New Zealand is the city of Wellington Next I would like to tell you all about the climate and some natural disasters. I. The north has subtropical weather during the summer, and inland alpine areas of the south island can be as cold as -10c (14f) (www.tourism.net.nz) II. Unlike here in Texas, the warmest months are December, January, and February, and the coldest months are June, July, and August III. In New Zealand there are earthquakes, volcanic eruptions, landslides, and avalanches a. “On 7 May 1864 a massive landslide on the shores of Lake Taupō overwhelmed the kāinga (Māori village)...

Words: 1905 - Pages: 8