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Judgment & ambiguity · Calibrating confidence

Your development pro forma leans on a lease-up assumption — a rent and absorption pace the broker calls achievable but that runs ahead of the current submarket. How sure are you in that number, and how does your confidence shape what you commit?

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A broker's "achievable" is an incentivized opinion, so I don't take it at face value — I calibrate it against evidence.

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