Irwin Boris

Irwin Boris Commercial Real Estate Expert, Consultant & Mentor. I create wealth & passive income for investors

29/05/2026

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29/05/2026

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28/05/2026
The real estate industry has been selling you a lie.IRR is not your friend.Here's what actually matters.Let's talk plain...
14/05/2026

The real estate industry has been selling you a lie.

IRR is not your friend.
Here's what actually matters.

Let's talk plainly.

Every syndicator, every fund manager, every deal sponsor leads with one number: IRR.

"20% IRR!" "25% IRR!" "We've never missed a projection!"

Here's what they don't tell you:

IRR is a back-of-envelope calculation based on assumptions made two or three years before you get paid a dime. It assumes a specific exit cap rate, a specific timeline, and market conditions nobody can predict. A single bad quarter, a soft buyer pool, or a rate environment shift — and your projected IRR becomes a memory.

You know what you can't argue with?

A quarterly ACH deposit sitting in your bank account.

The WesTech Flex Portfolio pays investors before we make a single dollar. That's the preferred return — 7% annually, paid quarterly. Non-negotiable. It happens before the GP sees any promote.

Here's what backs it up:

• $28.75M acquisition in Silver Spring, MD (Washington DC corridor)
• 8.87% going-in cap rate — this deal cash flows today
• 87% occupied, 6.0-year weighted average lease term
• NNN leases: tenants pay taxes, insurance, and maintenance
• Average in-place rent: $14.63/SF vs. $23.00/SF market — 36% below market
• Every expiring lease is a rent increase. That's not a projection. That's math.
• Fixed-rate debt at 6.0% — no floating-rate surprises

If the only number you want to discuss is IRR, this deal isn't for you.

If you want to know when your next check arrives — the portal is below.



📌 Register & Access the Investor Portal: https://peykarcapital.invportal.com/

45% of the WesTech rent roll has $0 relocation budget — here's whyMost real estate investors talk about vacancy risk. Fe...
13/05/2026

45% of the WesTech rent roll has $0 relocation budget — here's why

Most real estate investors talk about vacancy risk. Few ask a better question: Which tenants literally can’t leave?

In the WesTech Flex Portfolio, 45% of the GLA is leased to what I call location-captive tenants"—operators whose capital investment, licensing, and infrastructure make relocation impractical and economically irrational.

CAPITAL DIGESTIVE CARE — 21,273 SF · Lease Exp. 2037
The largest privately held gastroenterology practice in the Mid-Atlantic built its sole CAP-accredited central pathology lab here. This facility processes 500,000+ GI tests annually for 160+ physicians across 20+ offices.

Relocating isn’t simple. It would require new lab construction, millions in equipment, a new CAP inspection, and 18–24 months of disruption. Their accreditation — and ability to bill insurance at full rates — is tied to this site.

They also hold a Right of First Offer on the adjacent 16,590 SF vacancy. The most logical backfill is expansion by the tenant that already can’t leave.

EAGLE BANCORP (NASDAQ: EGBN) — 27,552 SF · Lease Exp. 2032
A $10.8B-asset, publicly traded bank operates its administrative and compliance hub here—not a retail branch. Loan processing, compliance, and executive functions run from this location.

Banks do not casually relocate operational centers. Regulatory risk and operational downtime alone outweigh any marginal rent savings.

COMPASS HEALTH CENTER — 15,732 SF · Lease Exp. 2035
Compass operates its only Washington, DC regional location here. Clinical licensing is address-specific. Patient patterns are location-driven. Brand equity in this market took years to build.

Opened in 2023, this is their regional anchor — and they are negotiating to expand by ~10,000 SF, which would push portfolio occupancy to 98%.

Location-Captive Tenant Snapshot
64,557 SF · 44.8% of portfolio
Weighted average lease term: 9.5 years

The balance of the portfolio benefits from adjacency to the 18,000+ employee FDA Headquarters, Adventist White Oak Medical Center, and the VIVA White Oak life science development. Submarket vacancy is 7.1% vs. a 9.0% long-term average, with no new competing supply underway.

This isn’t a lease-up story. It’s a durability story.

These tenants have already decided to stay through their capital investments, regulatory approvals, and operating infrastructure.

If you want access to the full offering, DM or comment "PPM," and I will send you access to the data room.

I spent the first 4 years of my career auditing hotels. That experience taught me one thing above all others: the flag i...
14/04/2026

I spent the first 4 years of my career auditing hotels. That experience taught me one thing above all others: the flag is everything.

A hotel with a respected brand behind it doesn't just charge more per night — it achieves more occupancy, attracts better management, qualifies for better financing, and exits at a premium multiple.

I've seen the difference between a flagged and unflagged property in the same market. It's not marginal. It's transformational.

So when I tell you that a globally recognized 5-star luxury brand has signed a 40-year non-binding LOI for The Orchards Vermont — with $5 million in key money at opening, putting their own capital on the table — I want you to understand what that signal actually means.

They evaluated this property. They ran their own feasibility analysis. They committed their brand equity and their capital to the concept.

That is the most credible third-party validation any development can receive before a shovel hits the ground.

Here's the full picture:
→ 371-acre estate, Bennington, VT · 40K SF historic mansion
→ 102 hotel keys + 24 for-sale branded residences
→ Nordic spa, farm-to-table dining, four-season programming
→ $198.2M total development cost
→ 30.1% Co-GP IRR · 5.30x equity multiple
→ Co-GP round closes June 2026 · $250K minimum

If you'd like to know the brand name, execute our one-page NDA and I'll tell you within 24 hours.

https://tinyurl.com/zhhepw8t

[email protected]

Aging Berkshires resorts with 1970s infrastructure are running 66% occupancy at $854/night. The demand is not in questio...
13/04/2026

Aging Berkshires resorts with 1970s infrastructure are running 66% occupancy at $854/night. The demand is not in question. The supply is.

Here is the market reality that every serious hospitality investor should be aware of:

The Northeast luxury resort competitive set achieved 66.3% average occupancy and $854 ADR in 2025 — a 9.2% RevPAR increase year-over-year. These are properties originally built between 1869 and the 1990s, many with limited wellness programming and no branded operator.

The demand pool: 30+ million affluent residents within a 3-hour drive. The supply of true branded luxury product: effectively zero.

This is the gap The Orchards Vermont is designed to fill.

✔ 371-acre historic estate in Bennington, VT
✔ 102 hotel keys + 24 for-sale branded residences
✔ Nordic spa, farm-to-table dining, year-round programming
✔ 5-star global brand — 40-year LOI, $5M key money
✔ As-of-right hotel zoning secured

Co-GP projected returns: 30.1% IRR · 5.30x equity multiple
LP projected returns: 23.3% IRR · 2.71x

$10M Co-GP raise · $250K minimum · Closes June 2026

The data supports the thesis. The basis supports the downside. The brand validates the concept.

Qualified investors: reach out to Irwin Boris at [email protected] or click here: https://bit.ly/4sr9vIV

Alfred Weissman Real Estate, LLC | awre.net

The numbers behind The Orchards Vermont Co-GP deal. Thread. 🧵1/8—$4.85M acquisition basis for 371 acres, a 40K SF histor...
12/04/2026

The numbers behind The Orchards Vermont Co-GP deal. Thread. 🧵

1/8—$4.85M acquisition basis for 371 acres, a 40K SF historic mansion, a 17K SF gymnasium, full municipal utilities, and a road network in Vermont. Replacement cost: multiples of that figure.

2/8 — Total development cost: $198.2M. Hotel keys: 102. For-sale branded residences: 24. Brand LOI: 40-year, 5-star operator, $5M key money at opening.

3/8—What the competition is doing: Berkshires comp set achieved 66.3% occupancy and $854 ADR in 2025—with 1970s-era infrastructure and no real wellness programming.

4/8 — What we're projecting: 62.3% stabilized occupancy by Year 4 (deliberately below comp performance), $1,580 ADR. Conservative by design.

5/8—Revenue trajectory: $47M Year 1 → $71.6M Year. 4. EBITDA: $8.4M Year 1 → $21.1M Year 4.

6/8 — Exit: Year 6 sale at 7.00% cap rate. Projected sale price: $241M. Total project net profit: $146.6M.

7/8 — Co-GP investor returns: 30.1% IRR · 5.30x MOIC. LP investors in the same project: 23.3% IRR · 2.71x. The Co-GP premium = the promotion for entering early.

8/8 — Round closes June 2026. $250K minimum. Accredited investors only. DM or email [email protected] for NDA + full data room.

Data Room link: https://bit.ly/4dxy572

04/03/2026

The proforma said 18% IRR.

You got 6%.

Then you got a capital call.

Here's the thing nobody tells you before you wire the money: IRR is math you can reverse-engineer to say almost anything. Change the exit cap rate assumption by half a point. Project 4% annual rent growth instead of 2%.

Extend the hold by a year. Suddenly a mediocre deal looks like a winner on paper.

The investors I talk to aren't naive. They're physicians, business owners, and attorneys. They've built real things. And most of them have one story that sounds exactly like the paragraph above.

There's a different way to evaluate deals. Ask one question before any other: What's the in-place cash flow today?
Not what it will be in Year 5. Not after the value-add. Not after the refi. Today.

Shallow bay flex and multi-tenant industrial, the kinds of properties where your plumber, electrician, and HVAC tech operate, generate real, in-place cash flow from Day 1. Triple net leases. 20–30 tenants per property. No single tenant represents more than 3–5% of income.

The proforma can't lie about what's already on the rent roll.

If you've been burned by projected returns that never showed up, let's talk. Not a pitch. A conversation about how to read a deal differently.

🔗 Message me or click the link in my bio to schedule 15 minutes.

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