PROFORMA SUMMARY RETAIL
RESIDENTIAL
08
TOTAL
DESIGN ASSUMPTIONS GROSS SF
7,900
173,976
181,876
RENTABLE SF PARKING STALLS
6,113 20
152,975 207
159,088 227
$63
$63 $6
COST ASSUMPTIONS LAND VALUE PER DEVELOPMENT UNIT ($ / NSF) SITE - INFRASTRUCTURE ( $ / SF OF SITE ) BUILDING SHELL ( $ / GSF ) TENANT IMPROVEMENT ($ / NSF ) PARKING ( $ / STALL ) SOFT COST ( $ / GSF ) TOTAL ( $ / GSF ) HOA DUES ($/SF/MO) BASE YR. OPERATING EXPENSES ( $ / UNIT / MO ) BASE YR. OPERATING EXPENSES ( $ / SF / YR )
$63 n/a
n/a $90 $60 $26,792 $27 $378
n/a n/a
$150
$147
n/a
$60 $26,792 $27 $344
$26,792 $27 $342 n/a
n/a $542
$-
$542 $-
n/a
INCOME ASSUMPTIONS RENTAL INCOME ( $ / SF / MO ) SALE INCOME 2025 ( $ / USABLE SF ) PARKING INCOME ( $ / SF / MO ) OF PARKING AREA NOI (YEAR ONE STABILIZED)
$2.85
n/a
$0.40 $3,796,813
n/a
$1.67 n/a
n/a $$128,821
$571 $4,240,214
VALUE ASSUMPTION Year 1 Stabilized CAPITALIZATION RATE VALUE ( $ / NSF ) VALUE TOTAL $
n/a n/a n/a
n/a n/a n/a
5.25% $528 $80,765,984
CAPITALIZATION RATE VALUE ( $ / NSF ) VALUE TOTAL $
n/a n/a n/a
n/a n/a n/a
6% $594 $90,845,940
Year 7 Sale
Team UW recommends a construction-permanent loan structure for this deal, as described in the Capital Markets section.
CONSTRUCTION- PERMANENT DEBT ASSUMPTIONS LOAN TO VALUE DEBT SERVICE COVERAGE TOTAL DEBT EQUITY REQUIRED TO FUND LOAN INTEREST RATE
n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a
TERM
n/a
n/a
UNLEVERAGED YIELD ON COST LEVERAGED YIELD ON COST UNLEVERAGED IRR LEVERAGED IRR
n/a n/a n/a n/a
n/a n/a n/a n/a
n/a 1.25 (for conversion) $40,612,614 $21,868,331 5.25% 10 years (3 year interest only, 7 years amortization (over 30 years))
RETURN ASSUMPTIONS 6.8% 7.1% 10.0% 13.9%
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