Appendix: Summary
EWMBA 280 - Multifamily Summary
Investment Description
Capital Stack
Return Metrics
Parcel
4
Sources
% Amount Property
Unlevered Levered (Pre Tax)
GSF
503,600
Equity
35.4% 107,831,085
Profit
202,792,346
241,659,803
NSF
277,600 CPACE
31.3% 95,448,830
EMx
1.71
3.24
Units
464 Units Construction Loan
33.3% 101,552,115
IRR
7.17%
17.74%
Height
6 Floors
Total Sources
100.0% 304,832,031
Parking Spaces
154
Partnership
General Partner
Limited Partner
Parking Ratio
0.33
Uses Land
% Amount
IRR
24.12%
16.80%
2.9% 8,807,200
EMx
5.15
3.03
Analysis Start
Month 1 Hard Costs
64.8% 197,463,000
Construction Start
Month 1 Soft Costs
11.6% 35,475,177
Development
%
Construction End
Month 18 Loan Fees
0.5% 1,500,000
Yield-on-Cost
4.04%
1st Unit Delivered
Month 18 Interest Reserve
3.2% 9,887,166
Exit Cap Rate
4.50%
Development Spread
Stabilization
Month 26 Shortfall Reserve
1.3% 3,868,403
-46.1
Sale Date
Month 120 Others
15.7% 47,831,085 100% 304,832,031
Total Uses
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