Summary of Financials
Investment Description
Capital Stack
Parcel
3
Sources
% Amount
GSF NSF
536,400 336,770
Equity
38.0% 195,507,089
CPACE
10.5% 54,165,305
Units
520 Units
Construction Loan
51.5% 265,257,567
Height
8 Floors
Total Sources
100.0% 514,929,961
Parking Spaces Parking Ratio
86
0.17
Uses
% Amount
Land
1.0% 4,949,000
Analysis Start
Month 1
Hard Costs
50.6% 260,536,500
Construction Start
Month 1
Soft Costs
8.8% 45,146,390
Construction End
Month 18
Loan Fees
0.3% 1,320,000
1st Unit Delivered
Month 18
Interest Reserve
4.9% 25,387,888
Stabilization
Month 38
Shortfall Reserve
0.4% 2,083,093
34.1% 175,507,089 100% 514,929,961
Sale Date
Month 120
Others
Total Uses
Return Metrics
Property
Unlevered Levered (Pre Tax)
Development
%
Profit
355,184,953
332,009,518
Yield-on-Cost
3.82%
EMx
2.14
2.70
Exit Cap Rate
4.50%
IRR
9.83%
16.91%
Development Spread
-68.2
Partnership
General Partner Limited Partner
IRR
20.12%
16.00%
EMx
3.28
2.55
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