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Professor Massey expresses gratitude for the patience regarding his work schedule while presenting a development proposal for the acquisition and redevelopment of Georgian Woods Apartments in Midtown Memphis. He highlights the opportunity to invest in Memphis's thriving real estate market, particularly in the multi-family space, with a required equity of $3 million. The project is projected to yield a 45% return and a net present value of $10.6 million over a five-year period. He notes a national trend of movement from suburbs back to urban areas, which began in Memphis's downtown market after significant redevelopment in the late 1990s and early 2000s.
