MIRR: Modified Internal Rate of Return in Commercial Real Estate

IRR, or internal rate of return, is one of the most important financial metrics in commercial real estate investing. However, in many cases, a variation of IRR, called MIRR, or modified internal rate of return, can actually tell us more about the profitability of a commercial real estate investment, especially if we are considering that an investor may be reinvesting the cash from one CRE investment into other properties (or other types of investments).