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  "authorName": "William Ackman",
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      "text": "CXW has credit-worthy tenants, requires limited maintenance capex, and enjoys excellent competitive dynamics – all features of a high quality real estate business",
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      "text": "Principal Asset: Real Estate; Primary Tenant: Government; Growth Opportunity: Secular; Maint Capex as % of Revenue: ~2%; Tenant Allowances: None; Return on New Development: High; Competition for Existing Units: Local Monopoly; Competition for New Construction: Oligopoly; Cyclicality: Low",
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