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  "documentTitle": "Target Corporation (TGT)",
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  "authorName": "William Ackman",
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  "presentationDate": "2008-10-29 00:00:00",
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  "notes": "The table uses a two-column scenario approach (likely representing different cap rate/discount rate assumptions) to derive an implied equity value per share.",
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      "text": "The implied TIP REIT valuation range on TIPS-based NAV analysis is $26 – $31bn, or $36 – $44/share today",
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      "text": "Implied Equity Value: $36 - $44",
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      "text": "(1) Based on 2029E NOI of $2,560mm and 4.65% cap rate",
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      "text": "Detailed financial breakdown of Existing Ground Lease, Platform Value, and Total TIP REIT Value calculations.",
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