From this article,

1- Is a 30 IRR a good return?

2- How does IRR take risk into consideration?

3-Is therre a more reliable means than IRR for evaluating returns generating by a real estate investment? if so, What would it be?

get it done really quickly. Mark said, 'Yeah, we'll do it.' I said, Really? You are going to do it yourselves?' He said, 'Yup."" Mr. Sternlicht says Mr. Walsh brought Mr. Fuld himself to a meeting at the hotelier's home to assure him that Lehman would back his acquisition. Dick Fuld sat there in my living room and said: 'You have our word. We'll get this done,' " Mr. Sternlicht recalls. We paid a $20 million fee. I was never so happy paying a fee. Mr. Fuld declined to be interviewed for this article. During the late 'gos, Mr. Walsh forged close ties with many of the most prominent developers in New York. He bankrolled Tishman Speyer in its purchase of the Chrysler Building in 1997. He backed Steven C. Witkoff in his purchase of the Woolworth Building in 1998. And he financed the acquisitions by the German real estate developers Aby Rosen and Michael Fuchs of the landmark Lever House and Seagram Building. Mr. Rosen recalls that he and Mr. Walsh closed the $375 million Seagram Building deal in four weeks. He was fast," says Mr. Rosen. He doesn't try to kill you or retrade. To be honest, there are very few people in the industry you can say that about." Mr. Walsh was also skilled at making all that debt vanish from Lehman's balance sheet before the firm choked on it. On the eve of the financial crisis brought by the near collapse of Long Term Capital Management in 1998, Lehman flushed $3.6 billion in commercial real estate loans through its securitization machine, avoiding some of the losses that crippled other firms, including Nomura and Credit Suisse. Mr. Walsh was rewarded with more responsibility, and in 2000 was named co-head of a new private equity group dedicated to real estate investments. After raising $1.6 billion from pension funds and university endowments and delivering an internal rate of return of more than 30 percent, the equity franchise easily raised $2.4 billion for a second fund, which closed in 2005. While the market was heating up and low-priced deals were harder to find, the second fund still generated a 15 percent return