Get documents about "Contract for Sale Tenant in Common
W
Description
Contract for Sale Tenant in Common document sample
Document Sample
CRE Proforma Development Project
Input Data Marginal Tax Bracket 25.0% Mortgage LTV 75.0%
Depn Recovery Rate 20.0% Amort Term (Years) 30
Going Out Cap Rate 9.0% Capital Gain Rate 12.5% Maturity (Years) 10
Selling Expense 7.0% Equity Hurdle Rate 15.0% Rate 6.000%
7- yr Building Improvement % 12% Depreciation Period 39 Points 2.25%
15-yr Land Improvements Prepay Penalty (%) 0.00%
Purchase Price Initial Long term Bldg Basis Mortgage Amount
Acquisition Costs Intial 7 yr Bldg Basis Monthly Pmt
Land Value Initial Land Improve Basis Balance 120 Mo
Summary of Before Tax Cash Flows by Year
0 1 2 3 4 5 6 7 8 9 10
Operations
Capital
Total CF
Before Tax IRR =
Before Tax NPV = 0 Ratio Analysis
Unlevered Return
Cash on Cash Return
Debt Coverage Ratio
Vacancy Collection Loss
Operating Expense Ratio
Breakeven Occupancy
Summary of After Tax Cash Flows by Year
0 1 2 3 4 5 6 7 8 9 10
Operations
Capital
Total CF
After Tax IRR =
After Tax NPV =
Cash Flow From Operations 0 1 2 3 4 5 6 7 8 9 10 11
Gross Potential Income
- Vacancy & Collection
= Effective Gross Income
- Operating Expense
= Net Operating Income
- Mortgage Payment
= Before Tax Cash Flow
- Taxes
= After Tax Cash Flow
Income Taxes From Operations
End of Year Loan Balance
NOI
+ Capital Reserves
- Interest Paid
- Amortized Finance Costs
- Amortized Leasing Costs
- Depreciation (Building)
- Depreciation (Bldg Impr 7-yr)
- Depreciation (Land Impr 15-yr)
= Taxable Income
Taxes Due
Cash flow From Resale EOY 10 Gain on Sale
Estimated Sales Price Net Sales Price
- Sales Expense - Adjusted Basis
= Net Sales Price = Gain on Sale
- Mortgage Payoff
= Before Tax Equity Reversion Depn Recapture
- Taxes on Sale Capital Gain
= After Tax Equity Reversion
DepRecTax
Cap Gain Tax
Total Tax on Sale
Suite Lease and Vacancy Analysis Data Input
The building summary information is presented first. It is the compilation of the individual rental suites
Summary of All Leasable Suites
Leasable Square Feet 75000
Weighted Average Lease Rate
Overage Detail Applies to retail spaces lease with a stated percentage of gross sales above baseline - See individual Suites for details
Weighted Average Vacancy
1 2 3 4 5 6 7 8 9 10 11
Contract Rent
+ Overage (PCT Rent)
+ Misc Income
Tenant Reimbursements
Real Estate Taxes
Common Area Maintenance
Utilities
Insurance
Gross Potential Income
Less: Vacancy/Collection Losses
Effective Gross Income
Expenses
Management and Leasing Fees
General and Adminsitrative
Real Estate Taxes
Common Area Maintenance
Utilities
Insurance
Capital Expenditures
Other
Total Expenses
Net Operating Income
Operating Expense Ratio
Suite A In this section you can "hand input" realistic leasing projections based on actual
Leasable Square Feet 30000 Rental Growth Rate 3.0% leases, or can use the trend rates shown to the left.
Rate 18 Cost Growth Rate 2.5%
Overage Detail
Vacancy /Collection Losses 40% 11% 11% 11% 11% 11% 11% 11% 11% 11% 11%
1 2 3 4 5 6 7 8 9 10 11
Contract Rent
+ Overage
+ Misc Income
Tenant Reimbursements
Real Estate Taxes 120000
Common Area Maintenance 0
Utilities 27000
Insurance 0
Gross Potential Income
Less: Vacancy/Collection Losses
Effective Gross Income
Expenses
Management and Leasing Fees 0
General and Adminsitrative 0
Real Estate Taxes 120000
Common Area Maintenance 0
Utilities 27000
Insurance 0
Capital Expenditures 48000
Other 0
Total Expenses
Net Operating Income
Operating Expense Ratio
Suite B In this section you can "hand input" realistic leasing projections based on actual
Leasable Square Feet 20000 Rental Growth Rate 0.0% leases, or can use the trend rates shown to the left.
Rate 22 Cost Growth Rate 2.0%
Overage Detail
Vacancy /Collection Losses 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
1 2 3 4 5 6 7 8 9 10 11
Contract Rent
+ Overage
+ Misc Income
Tenant Reimbursements
Real Estate Taxes 80000
Common Area Maintenance 0
Utilities 18000
Insurance 0
Gross Potential Income
Less: Vacancy/Collection Losses
Effective Gross Income
Expenses
Management and Leasing Fees 0
General and Adminsitrative 0
Real Estate Taxes 80000
Common Area Maintenance 0
Utilities 18000
Insurance 0
Capital Expenditures 32000
Other 0
Total Expenses
Net Operating Income
Operating Expense Ratio
Suite C (Retail) Sales Growth Rate 4.0% In this section you can "hand input" realistic leasing projections based on actual
Leasable Square Feet 15000 Rental Growth Rate 3.0% leases, or can use the trend rates shown to the left.
Rate 15 Cost Growth Rate 2.5%
Overage Detail Base 4000000 Pct Over 4%
Estimated Sales 5000000
Vacancy /Collection Losses 5% 5% 5% 5% 5% 10% 10% 10% 10% 10% 10%
1 2 3 4 5 6 7 8 9 10 11
Contract Rent
+ Overage
+ Misc Income
Tenant Reimbursements
Real Estate Taxes 60000
Common Area Maintenance 0
Utilities 13500
Insurance 0
Gross Potential Income
Less: Vacancy/Collection Losses
Effective Gross Income
Expenses
Management and Leasing Fees 0
General and Adminisitrative 0
Real Estate Taxes 60000
Common Area Maintenance 0
Utilities 13500
Insurance 0
Capital Expenditures 24000
Other 0
Total Expenses
Net Operating Income
Operating Expense Ratio
Suite D In this section you can "hand input" realistic leasing projections based on actual
Leasable Square Feet 10000 Rental Growth Rate 0.0% leases, or can use the trend rates shown to the left.
Rate 30 Cost Growth Rate 2.5%
Overage Detail
Vacancy /Collection Losses 50% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
1 2 3 4 5 6 7 8 9 10 11
Contract Rent
+ Overage
+ Misc Income 15000
Tenant Reimbursements
Real Estate Taxes 0
Common Area Maintenance 0
Utilities 0
Insurance 0
Gross Potential Income
Less: Vacancy/Collection Losses
Effective Gross Income
Expenses
Management and Leasing Fees 0
General and Adminsitrative 0
Real Estate Taxes 40000
Common Area Maintenance 0
Utilities 9000
Insurance 0
Capital Expenditures 16000
Other 0
Total Expenses 65000
Net Operating Income
Operating Expense Ratio
Purchase or Development Cost Detail Data Input
a) Purchase Detail
For an existing building, enter 1 as the Purchase Indicator,
Purchase Indicator 0 then enter the purchase price of the building (including
Purchase Price ($) 13,000,000 land) and the estimated land value. The depreciable land
Non Depr Land Value ($) 2,500,000 improvment is for the estimated land cost that can be
Depreciable Land Impr ($) 500,000 depreciated. The aquisition costs are all costs in addition
Acquisition Costs ($) 45,000 to the purchase price incurred in purchasing the building.
b) Interim Finance and Development Cost
Equity Investment LTC%
Construction Loan Amount
Construction Loan Interest Rate
Points
End of Total Dollars Equity Bank Payment to
Month Monthly Disbursement Disbursed Dollars Bank Total Draw Bank Interest Bank Bank Balance
0
1
2
3
4
5
6
7
8
9
10
11
12
Sums -
Ending Loan Balance
Sum of Payments
= Total Paid to Lender
- Total Disbursed by Lender
= Total Paid to Interest
Construction Budget Data Input
Percentage Distribution of Costs by Month
Excavation / Sewer / Paving / Architect Fees Contin
Month Grading Water Sidewalks Landscape Shell HVAC Electrical Plumbing Finish Engineer Legal Permits Developer gency
0 90% 80% 100% 8%
1 45% 33% 8% 3%
2 45% 33% 10% 10% 8% 6%
3 34% 10% 10% 8% 6%
4 10% 10% 10% 8% 6%
5 10% 5% 10% 10% 8% 6%
6 10% 15% 10% 10% 5% 8% 6%
7 10% 15% 10% 10% 8% 6%
8 10% 15% 10% 10% 20% 8% 12%
9 10% 15% 10% 10% 20% 7% 12%
10 10% 15% 10% 10% 20% 7% 12%
11 10% 50% 50% 10% 15% 15% 10% 20% 7% 15%
12 50% 50% 5% 5% 10% 20% 5% 20% 7% 10%
Total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Dollar Cost Distribution of Costs by Month
Excavation / Sewer / Paving / Architect Fees Contin
Month Grading Water Sidewalks Landscape Shell HVAC Electrical Plumbing Finish Engineer Legal Permits Developer gency Total Percent
0
1
2
3
4
5
6
7
8
9
10
11
12
Total
Development Budget Data Input
Gross Square Feet 80000
Developer Fee (%) 4%
Construction Contingency (%) 2%
Construction Loan Amount 9,000,000
Construction Loan to Cost
Construction Loan Interest Rate 6.500%
Construction Loan Points 1.000%
Equity Partner Return 15.000%
Dollar Cost Percent $/sqft (Gross)
A. Land and Site Improvements
Site acqusition and closing 2,200,000
B. Construction Costs
Hard Costs:
Site preparation
Excavation and grading 125,000
Sewer/Water 300,000
Paving/Curbs/Sidewalks 350,000
Landscaping 150,000
Vertical Construction
Core and Shell 5,000,000
HVAC 500,000
Electrical 400,000
Plumbing 350,000
Finish Out 2,200,000
Budgeted Hard Costs
Construction Contingency
Total Hard Costs
Soft Costs:
Architect & Engineering 300,000
Legal costs 75,000
Fees and permits 110,000
Pre Leasing Commissions -
Developer Fee
Construction Interest
Total Soft Costs
Project Cost
Equity Stake
Equity Return
Project Cost With Equity Return
Construction Costs minus Interest
