React = Explain HOW this is possible. Use an example for each problem for a thumbs up!

1. React: If a buyer of a property says that they purchased it for a 9% cap rate, while the seller of the same property says they sold it for an 8% cap rate, one of them must be lying.
2. React: Since the allowable depreciable life on an apartment building is 27.5 years, versus 39 years for a shopping center, an apartment complex must have substantially lower annual capital expenditure requirements than a shopping center.
3. React: NAV is the single most reliable metric of the value of a publicly-traded real estate company, as it indicates the breakup value of the companys real estate assets.
4. React: A 3-year floating rate mortgage with no amortization, a 4.5% interest rate, a 50 basis point closing fee, and no prepayment penalty is a better loan than a 10-year loan with a fixed 6.0% interest rate, a 20-year amortization schedule, a 75 basis point closing fee, and a yield maintenance requirement.