The Newsletter

Beyond the Core Four

A weekly look at the business, legal, and investment dynamics of the property types beyond office, retail, industrial, and multifamily.

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Four Recurring Themes

Every edition ladders up to one of four ideas.

01

When the Land Isn't the Asset

Permits, reserves, entitlements, and scarcity — the value that isn't in the dirt.

02

The Equipment Trap

Operating-asset value the real estate appraisal missed.

03

When Cleanup Becomes the Opportunity

Contaminated and Superfund properties, priced for the upside.

04

Hidden Infrastructure

Landfills, ports, water, and energy — scarcity economics and durable demand.

The Archive

Recent & featured editions.

Editions are published on LinkedIn first, then archived here. Links open the LinkedIn edition until the on-site archive is populated.

When the Land Isn't the Asset

When Restrictions Become the Asset: Conservation Easement Valuation on Specialized Land & Improvements

Where estate plans, charitable deductions, and IRS enforcement now collide — what RPTE attorneys and CPAs need to know.

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Hidden Infrastructure

Landfills as Infrastructure Assets: Scarce Capacity, Essential Demand, and Long-Term Investor Value

Why a landfill is not dirt with waste — it is a regulated infrastructure asset with scarcity economics.

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The Equipment Trap

Why Real Estate Appraisals Miss Operating Asset Value

The gap between land-and-buildings analysis and what a lender or buyer actually finances. (Coming soon.)

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When Cleanup Becomes the Opportunity

Pricing the Upside in Contaminated Property

How sophisticated buyers underwrite remediation risk — and where the mispricing hides. (Coming soon.)

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When the Land Isn't the Asset

Reserves, Depletion & the Value of a Quarry

Why an aggregate reserve is priced on what's underground, not what's on the surface. (Coming soon.)

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Hidden Infrastructure

Marinas: Where Real Estate Meets Operating Business

Reading a marina as a going concern, not waterfront with docks. (Coming soon.)

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Weekly, for attorneys, CPAs, lenders, and investors who work where value gets complicated.

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