$1.$What are Hemisphere Development$$s core competence as a firm, and how would you describe its investment strategy? $(20)$

$2.$List the pros and cons of the potential projects. $(80)$

$3.$How would you recommend Davis structure the development of the project $($go it alone, joint venture, sell, other$)?(30)$

$4.$What are the risks associated with the project? Which risk can be mitigated, and which need to be priced? $(80)$

$5.$How would you finance this project? $(30)$

$6.$What type of return would you need to participate in this transaction? $(30)$

$7.$At what point or under what conditions would you terminate the project and walkaway? $(30)$