Your question is Building a Real Estate DCF. Take a moment with it on the right.
Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).
Walk me through how you build a real estate DCF model, including the key components, the order you make decisions, and how you support assumptions with market research and contingencies.
Explain how you would forecast property-level operating performance, derive unlevered free cash flow, select a discount rate, calculate terminal value, and bridge enterprise value to equity value. Discuss how you would validate assumptions through market research and test downside contingencies. No property-specific financial data is provided, so focus on the modeling process rather than producing a valuation.