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In this video tutorial, the focus is on preferred equity, which is the top tier of the capital stack in commercial real estate finance. The discussion revolves around how professional commercial investors fill funding gaps when acquiring real estate assets. The video also delves into the overall flow of money, including rent payments, sales, and refinancing, addressing the order in which payments are made and the consequences of default. This series aims to provide a comprehensive understanding of capital structure and waterfall in commercial real estate finance.