Matt Lasky (demure)

One day he told me he was buying a 3.5 cap. Young broker me was confused asking why in the world would you buy something at that valuation when credit long term NNN was trading 6.5+ caps. Here's the hook:

He purchased a ground lease for multiple city blocks in a major coastal city with a solid mall on top as collateral. Ground lease had 7 years remaining and no remaining renewal options. Mall was operated by one of the REITs. He made 10's of millions in that single transaction.