# ------------------------------------------------------------------------------------
# Scenario: CORE PLUS — Lyon Part-Dieu (institutional-quality, light asset management, >5,000 sqm)
# Asset: high-quality office in [[Lyon Part-Dieu]] with minor re-letting/refresh cycles.
# Strategy: stable operations with selective value-accretive leasing; modest capex at rollover.
# Horizon: 8 years, purchase in 2025.
# Financial stance: moderate leverage and cost of debt; modest upside from active management.
# ------------------------------------------------------------------------------------
purchase_year: 2025
horizon_years: 8
index_rate: 0.012
entry_yield: 0.060
acq_cost_rate: 0.065
exit_yield_spread_bps: -25
exit_transaction_costs:
  brokerage: 0.01
  taxes: 0.00
ltv_base: "price_di"
capitalized_fees: true
arrangement_fee_pct: 0.00
disc_method: "wacc"
disc_rate_wacc:
  KE: 0.070
  KD: 0.023
opex_sqm: 55
ltv_init: 0.5
rate_annual: 0.023
extra_amort_pct: 0.00
scr_ratio: 0.33
leasing_cost_pct: 0.07
leases:
  - unit: "A"
    area: 2000
    events:
      - {start: 2025, end: 2028, rent: 320, free_months: 0, capex_sqm: 0,  vac: 0.05, new_lease: 0}
      - {start: 2029, end: 2033, rent: 340, free_months: 3, capex_sqm: 30, vac: 0.07, new_lease: 1}
  - unit: "B"
    area: 2000
    events:
      - {start: 2025, end: 2028, rent: 315, free_months: 0, capex_sqm: 0,  vac: 0.07, new_lease: 0}
      - {start: 2029, end: 2033, rent: 335, free_months: 3, capex_sqm: 25, vac: 0.1, new_lease: 1}

stabilization_year: 1
hurdle_equity_irr: 0.08
hurdle_project_irr: 0.06
hurdle_equity_npv: 0
