{"id":3065,"date":"2024-08-31T07:00:00","date_gmt":"2024-08-30T22:00:00","guid":{"rendered":"https:\/\/rad-st.jp\/?p=3065"},"modified":"2024-08-03T16:51:18","modified_gmt":"2024-08-03T07:51:18","slug":"%e6%8a%95%e8%b3%87%e5%88%86%e6%9e%90%e3%80%8c%e4%b8%8d%e5%8b%95%e7%94%a3%e6%8a%95%e8%b3%87%e3%80%8d%e5%88%86%e6%9e%90%e3%81%a7%e3%82%88%e3%81%8f%e4%bd%bf%e3%81%86%e5%90%8d%e5%89%8d%e3%81%a8%e3%81%9d","status":"publish","type":"post","link":"https:\/\/rad-st.jp\/?p=3065","title":{"rendered":"\u6295\u8cc7\u5206\u6790\u300c\u4e0d\u52d5\u7523\u6295\u8cc7\u300d\u5206\u6790\u3067\u3088\u304f\u4f7f\u3046\u540d\u524d\u3068\u305d\u306e\u610f\u5473"},"content":{"rendered":"\n\n\n<p>\u4e2d\u5c0f\u4f01\u696d\u306e\u7d4c\u55b6\u8005\u306b\u3068\u3063\u3066\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306f\u8cc7\u7523\u904b\u7528\u3084\u4e8b\u696d\u62e1\u5927\u306e\u91cd\u8981\u306a\u624b\u6bb5\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u5206\u6790\u306b\u306f\u591a\u304f\u306e\u5c02\u9580\u7528\u8a9e\u3084\u6307\u6a19\u304c\u3042\u308a\u3001\u305d\u306e\u610f\u5473\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u3067\u3088\u304f\u4f7f\u3046\u540d\u524d\u3068\u305d\u306e\u610f\u5473\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<h2>\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u3068\u306f\uff1f<\/h2>\n<h3>\u57fa\u672c\u6982\u5ff5<\/h3>\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u3068\u306f\u3001\u6295\u8cc7\u5bfe\u8c61\u3068\u306a\u308b\u4e0d\u52d5\u7523\u306e\u53ce\u76ca\u6027\u3084\u30ea\u30b9\u30af\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306e\u5206\u6790\u624b\u6cd5\u3067\u3059\u3002\u6295\u8cc7\u5224\u65ad\u3092\u884c\u3046\u969b\u306b\u3001\u69d8\u3005\u306a\u8ca1\u52d9\u6307\u6a19\u3092\u7528\u3044\u3066\u8a73\u7d30\u306a\u5206\u6790\u3092\u884c\u3044\u307e\u3059\u3002<\/p>\n<h3>\u91cd\u8981\u6027<\/h3>\n<ul>\n<li><strong>\u6295\u8cc7\u5224\u65ad<\/strong>\uff1a\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u53ce\u76ca\u6027\u3084\u30ea\u30b9\u30af\u3092\u8a55\u4fa1\u3057\u3001\u9069\u5207\u306a\u6295\u8cc7\u5224\u65ad\u3092\u4e0b\u3059\u305f\u3081\u306b\u5fc5\u8981\u3067\u3059\u3002<\/li>\n<li><strong>\u7d4c\u55b6\u6539\u5584<\/strong>\uff1a\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u901a\u3058\u3066\u4f01\u696d\u306e\u8ca1\u52d9\u72b6\u6cc1\u3092\u6539\u5584\u3057\u3001\u9577\u671f\u7684\u306a\u6210\u9577\u3092\u76ee\u6307\u3057\u307e\u3059\u3002<\/li>\n<li><strong>\u30ea\u30b9\u30af\u7ba1\u7406<\/strong>\uff1a\u6295\u8cc7\u30ea\u30b9\u30af\u3092\u8a55\u4fa1\u3057\u3001\u9069\u5207\u306a\u30ea\u30b9\u30af\u7ba1\u7406\u3092\u884c\u3046\u3053\u3068\u3067\u3001\u6295\u8cc7\u306e\u5931\u6557\u3092\u9632\u304e\u307e\u3059\u3002<\/li>\n<\/ul>\n<h2>\u4e3b\u8981\u306a\u4e0d\u52d5\u7523\u6295\u8cc7\u6307\u6a19<\/h2>\n<h3>GPI (Gross Potential Income)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aGPI\u306f\u3001\u4e0d\u52d5\u7523\u304c\u6e80\u5ba4\u7a3c\u50cd\u3057\u305f\u5834\u5408\u306b\u5f97\u3089\u308c\u308b\u7dcf\u6f5c\u5728\u53ce\u5165\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aGPI = \u6e80\u5ba4\u6642\u306e\u8cc3\u6599\u53ce\u5165<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aGPI\u306f\u3001\u4e0d\u52d5\u7523\u306e\u53ce\u76ca\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>\u7a7a\u5ba4\u640d<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1a\u7a7a\u5ba4\u640d\u306f\u3001\u7a7a\u5ba4\u306b\u3088\u3063\u3066\u5931\u308f\u308c\u308b\u53ce\u5165\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1a\u7a7a\u5ba4\u640d = GPI \u00d7 \u7a7a\u5ba4\u7387<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1a\u7a7a\u5ba4\u640d\u306f\u3001\u5b9f\u969b\u306e\u53ce\u5165\u3092\u8a55\u4fa1\u3059\u308b\u969b\u306b\u8003\u616e\u3059\u308b\u91cd\u8981\u306a\u8981\u7d20\u3067\u3059\u3002<\/p>\n<h3>EGI\uff08Effective Gross Income\uff09<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aEGI\u306f\u3001GPI\u304b\u3089\u7a7a\u5ba4\u640d\u3092\u5dee\u3057\u5f15\u3044\u305f\u5b9f\u969b\u306e\u7dcf\u53ce\u5165\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aEGI = GPI &#8211; \u7a7a\u5ba4\u640d<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aEGI\u306f\u3001\u5b9f\u969b\u306b\u5f97\u3089\u308c\u308b\u53ce\u5165\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>OPEX (Operating Expenses)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aOPEX\u306f\u3001\u4e0d\u52d5\u7523\u306e\u904b\u55b6\u306b\u304b\u304b\u308b\u7dcf\u7d4c\u8cbb\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aOPEX = \u7ba1\u7406\u8cbb + \u4fdd\u967a\u6599 + \u4fee\u7e55\u8cbb + \u7a0e\u91d1 + \u305d\u306e\u4ed6\u904b\u55b6\u8cbb\u7528<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aOPEX\u306f\u3001\u53ce\u76ca\u304b\u3089\u5dee\u3057\u5f15\u304b\u308c\u308b\u7d4c\u8cbb\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>NOI (Net Operating Income)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aNOI\u306f\u3001EGI\u304b\u3089OPEX\u3092\u5dee\u3057\u5f15\u3044\u305f\u7d14\u55b6\u696d\u53ce\u76ca\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aNOI = EGI &#8211; OPEX<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aNOI\u306f\u3001\u4e0d\u52d5\u7523\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>ADS (Annual Debt Service)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aADS\u306f\u3001\u5e74\u9593\u306e\u501f\u5165\u8fd4\u6e08\u984d\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aADS = \u5e74\u9593\u501f\u5165\u5143\u672c\u8fd4\u6e08\u984d + \u5e74\u9593\u501f\u5165\u5229\u606f\u8fd4\u6e08\u984d<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aADS\u306f\u3001\u501f\u5165\u306e\u8fd4\u6e08\u80fd\u529b\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>BTCF (Before-Tax Cash Flow)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aBTCF\u306f\u3001\u7a0e\u5f15\u524d\u306e\u73fe\u91d1\u6d41\u5165\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aBTCF = NOI &#8211; ADS<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aBTCF\u306f\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>FCR (Financial Cash Return)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aFCR\u306f\u3001\u6295\u8cc7\u984d\u306b\u5bfe\u3059\u308b\u73fe\u91d1\u53ce\u76ca\u306e\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aFCR = BTCF \u00f7 \u7dcf\u6295\u8cc7\u984d \u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aFCR\u306f\u3001\u6295\u8cc7\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>CCR (Cash-on-Cash Return)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aCCR\u306f\u3001\u6295\u8cc7\u984d\u306b\u5bfe\u3059\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aCCR = BTCF \u00f7 \u81ea\u5df1\u8cc7\u91d1\u6295\u8cc7\u984d \u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aCCR\u306f\u3001\u73fe\u91d1\u53ce\u76ca\u306e\u52b9\u7387\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>CAP Rate (Capitalization Rate)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aCAP Rate\u306f\u3001NOI\u3092\u4e0d\u52d5\u7523\u306e\u73fe\u5728\u4fa1\u5024\u3067\u5272\u3063\u305f\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aCAP Rate = NOI \u00f7 \u4e0d\u52d5\u7523\u306e\u73fe\u5728\u4fa1\u5024 \u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aCAP Rate\u306f\u3001\u4e0d\u52d5\u7523\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>LTV (Loan-To-Value Ratio)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aLTV\u306f\u3001\u4e0d\u52d5\u7523\u306e\u4fa1\u5024\u306b\u5bfe\u3059\u308b\u501f\u5165\u984d\u306e\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aLTV = \u501f\u5165\u984d \u00f7 \u4e0d\u52d5\u7523\u306e\u73fe\u5728\u4fa1\u5024 \u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aLTV\u306f\u3001\u501f\u5165\u30ea\u30b9\u30af\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>DCR (Debt Coverage Ratio)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aDCR\u306f\u3001NOI\u3092ADS\u3067\u5272\u3063\u305f\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aDCR = NOI \u00f7 ADS<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aDCR\u306f\u3001\u501f\u5165\u8fd4\u6e08\u80fd\u529b\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>K% (Loan Constant)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aK%\u306f\u3001\u5e74\u9593\u306e\u501f\u5165\u8fd4\u6e08\u984d\u3092\u501f\u5165\u7dcf\u984d\u3067\u5272\u3063\u305f\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aK% = ADS \u00f7 \u501f\u5165\u7dcf\u984d \u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aK%\u306f\u3001\u501f\u5165\u306e\u8fd4\u6e08\u8ca0\u62c5\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>\u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1a\u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7\u306f\u3001\u4e0d\u52d5\u7523\u306e\u5229\u56de\u308a\u3068\u501f\u5165\u91d1\u5229\u306e\u5dee\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1a\u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7 = CAP Rate &#8211; \u501f\u5165\u91d1\u5229\uff1dFCR\u30fck\uff05<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1a\u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7\u306f\u3001\u6295\u8cc7\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>\u7dcf\u6295\u8cc7\u56de\u53ce\u671f\u9593<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1a\u7dcf\u6295\u8cc7\u56de\u53ce\u671f\u9593\u306f\u3001\u6295\u8cc7\u984d\u3092\u56de\u53ce\u3059\u308b\u307e\u3067\u306e\u671f\u9593\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1a\u7dcf\u6295\u8cc7\u56de\u53ce\u671f\u9593 = \u7dcf\u6295\u8cc7\u984d \u00f7 \u5e74\u9593\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1a\u7dcf\u6295\u8cc7\u56de\u53ce\u671f\u9593\u306f\u3001\u6295\u8cc7\u306e\u56de\u53ce\u901f\u5ea6\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>ATCF (After-Tax Cash Flow)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aATCF\u306f\u3001\u7a0e\u5f15\u5f8c\u306e\u73fe\u91d1\u6d41\u5165\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aATCF = BTCF &#8211; \u7a0e\u91d1<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aATCF\u306f\u3001\u7a0e\u5f15\u5f8c\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>ROI (Return on Investment)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aROI\u306f\u3001\u6295\u8cc7\u984d\u306b\u5bfe\u3059\u308b\u53ce\u76ca\u306e\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aROI = (\u7dcf\u53ce\u76ca &#8211; \u7dcf\u6295\u8cc7\u984d) \u00f7 \u7dcf\u6295\u8cc7\u984d \u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aROI\u306f\u3001\u6295\u8cc7\u306e\u5168\u4f53\u7684\u306a\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>BER (Break Even Ratio)<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1aBER\u306f\u3001\u53ce\u5165\u304c\u7d4c\u8cbb\u3068\u501f\u5165\u8fd4\u6e08\u984d\u3092\u30ab\u30d0\u30fc\u3059\u308b\u305f\u3081\u306b\u5fc5\u8981\u306a\u6700\u5c0f\u306e\u53ce\u5165\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1aBER = (OPEX + ADS) \u00f7 EGI\uff08GPI) \u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1aBER\u306f\u3001\u4e0d\u52d5\u7523\u306e\u53ce\u652f\u30d0\u30e9\u30f3\u30b9\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h3>\u8fd4\u6e08\u6bd4\u7387<\/h3>\n<p><strong>\u5b9a\u7fa9<\/strong>\uff1a\u8fd4\u6e08\u6bd4\u7387\u306f\u3001\u53ce\u5165\u306b\u5bfe\u3059\u308b\u501f\u5165\u8fd4\u6e08\u984d\u306e\u5272\u5408\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n<p><strong>\u8a08\u7b97\u5f0f<\/strong>\uff1a\u8fd4\u6e08\u6bd4\u7387 = ADS \u00f7 EGI \uff08GPI)\u00d7 100<\/p>\n<p><strong>\u610f\u5473<\/strong>\uff1a\u8fd4\u6e08\u6bd4\u7387\u306f\u3001\u501f\u5165\u8fd4\u6e08\u306e\u8ca0\u62c5\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<h2>\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u3092\u884c\u3046\u969b\u306e\u6ce8\u610f\u70b9<\/h2>\n<h3>\u30c7\u30fc\u30bf\u306e\u6b63\u78ba\u6027<\/h3>\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u3092\u884c\u3046\u305f\u3081\u306b\u306f\u3001\u6b63\u78ba\u306a\u8ca1\u52d9\u30c7\u30fc\u30bf\u304c\u5fc5\u8981\u3067\u3059\u3002\u4e0d\u6b63\u78ba\u306a\u30c7\u30fc\u30bf\u306f\u3001\u8aa4\u3063\u305f\u5206\u6790\u7d50\u679c\u3092\u3082\u305f\u3089\u3059\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h3>\u6bd4\u8f03\u5bfe\u8c61\u306e\u8a2d\u5b9a<\/h3>\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u306f\u3001\u904e\u53bb\u306e\u30c7\u30fc\u30bf\u3084\u696d\u754c\u5e73\u5747\u3068\u6bd4\u8f03\u3059\u308b\u3053\u3068\u3067\u3001\u305d\u306e\u52b9\u679c\u3092\u767a\u63ee\u3057\u307e\u3059\u3002\u9069\u5207\u306a\u6bd4\u8f03\u5bfe\u8c61\u3092\u8a2d\u5b9a\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n<h3>\u7d99\u7d9a\u7684\u306a\u5206\u6790<\/h3>\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u306f\u4e00\u5ea6\u884c\u3048\u3070\u7d42\u308f\u308a\u3067\u306f\u306a\u304f\u3001\u7d99\u7d9a\u7684\u306b\u884c\u3046\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u5b9a\u671f\u7684\u306a\u5206\u6790\u306b\u3088\u308a\u3001\u7d4c\u55b6\u72b6\u6cc1\u306e\u5909\u5316\u306b\u8fc5\u901f\u306b\u5bfe\u5fdc\u3067\u304d\u307e\u3059\u3002<\/p>\n<h2>\u307e\u3068\u3081<\/h2>\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u306f\u3001\u4e2d\u5c0f\u4f01\u696d\u304c\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3057\u3001\u7d4c\u55b6\u6539\u5584\u3092\u56f3\u308b\u305f\u3081\u306e\u91cd\u8981\u306a\u30c4\u30fc\u30eb\u3067\u3059\u3002GPI\u3001\u7a7a\u5ba4\u640d\u3001EGI\u3001OPEX\u3001NOI\u3001ADS\u3001BTCF\u3001FCR\u3001CCR\u3001CAP Rate\u3001LTV\u3001DCR\u3001K%\u3001\u30a4\u30fc\u30eb\u30c9\u30ae\u30e3\u30c3\u30d7\u3001\u7dcf\u6295\u8cc7\u56de\u53ce\u671f\u9593\u3001ATCF\u3001ROI\u3001BER\u3001\u8fd4\u6e08\u6bd4\u7387\u3068\u3044\u3063\u305f\u4e3b\u8981\u306a\u8ca1\u52d9\u6307\u6a19\u3092\u7406\u89e3\u3057\u3001\u6b63\u78ba\u306a\u30c7\u30fc\u30bf\u3092\u57fa\u306b\u7d99\u7d9a\u7684\u306b\u5206\u6790\u3092\u884c\u3046\u3053\u3068\u3067\u3001\u4f01\u696d\u306e\u6295\u8cc7\u52b9\u7387\u3092\u9ad8\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u4e0d\u52d5\u7523\u6295\u8cc7\u3084\u8ca1\u52d9\u306b\u7cbe\u901a\u3057\u305f\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u306e\u52a9\u8a00\u3092\u6d3b\u7528\u3057\u3001\u52b9\u679c\u7684\u306a\u6295\u8cc7\u5206\u6790\u3092\u5b9f\u8df5\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e2d\u5c0f\u4f01\u696d\u306e\u7d4c\u55b6\u8005\u306b\u3068\u3063\u3066\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306f\u8cc7\u7523\u904b\u7528\u3084\u4e8b\u696d\u62e1\u5927\u306e\u91cd\u8981\u306a\u624b\u6bb5\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u5206\u6790\u306b\u306f\u591a\u304f\u306e\u5c02\u9580\u7528\u8a9e\u3084\u6307\u6a19\u304c\u3042\u308a\u3001\u305d\u306e\u610f\u5473\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u5206\u6790\u3067\u3088\u304f\u4f7f\u3046 &#8230; <\/p>\n","protected":false},"author":1,"featured_media":2541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1348,15,1364],"tags":[1409,1419,1421,1410,1413,1412,1416,1406,1411,1405,1415,1414,1408,1407,1420,1417,1403,1400,511,1401,1402,1404,1210,1418,1422],"_links":{"self":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3065"}],"collection":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3065"}],"version-history":[{"count":1,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3065\/revisions"}],"predecessor-version":[{"id":3066,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3065\/revisions\/3066"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/media\/2541"}],"wp:attachment":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}