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![]() Nate Helbach is standing among rebar and lumber on the second floor of the hollowed out Gardner Bakery building, part of the ambitious Bakers Place residential development, which secured over $73 million in financing a year ago, delivering a quick lesson in urban real estate economics. “Do you know the metric real estate investors are looking at?” This reporter did not. “Take your total NOI — net operating income — divided by your total cost. That equals some sort of percentage and typically you want like 6%. At least they did before people started raising rates,... | ||
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