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  "authorName": "William Ackman",
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      "text": "Given the above factors, TIP REIT will trade at a lower cap rate than an individual private ground lease",
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      "text": "TIP REIT has several qualities which make it more attractive than a private ground lease: Large cap, liquid public ownership; 75-year Master Lease term; 1,435 retail properties in 48 states; Inflation-protected rental stream; Best-in-class retail tenant; Geographic diversity",
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      "text": "(1) Represents 2008E Target Corp stores on TIP REIT land",
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