Capital Stack
Levered IRR Sensitivity
TIFIA vs. Conventional
TIFIA
Conventional
Difference
Profit
$80,216,888 $70,042,642
$10,174,246
Equity Multiple
5.69
4.95
0.74
IRR
23.92% 20.88%
3.04%
LP-TIFIA LP-Conventional Difference
Equity Multiple
5.1
4.5
0.6
IRR
22.63% 19.74%
2.89
Development Spread
TIFIA
Conventional
Yield-on-Cost Exit Cap Rate
7.21% 6.94% 6.00% 6.00%
Spread
120.6
94.5
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