gross lease, which requires the owner to pay the operating expenses.
パーセンテージレント
賃貸料の割合、またはリースの割合は、商業用不動産で見られるリースの一種です。月額や年額などの固定額ではなく、テナントの粗所得に基づく賃料です。
The going-in capitalization rate is 9.5% (Cap rate = Discount rate – Growth rate)
NOI = Rental income + Other income – Vacancy and collection loss – Property management costs.
Implied volatility is a measure of estimated future volatility, not historical volatility.
Volatility skew tends to steepen whenever the market price of hedging is rising, which causes its shape to be different from the volatility smile.
The full spot price = Quoted bond price + Accrued interest = B0 + AI0.