Professional Documents
Culture Documents
Years 0 1 2 3 4 5 6
All Units at Mkt Rent $7,838,503 $8,191,236 $8,559,841 $8,945,034 $9,347,561 $9,627,988
Loss-to-Lease -$307,269 -$321,096 -$335,546 -$350,645 -$366,424 -$377,417
PGI $7,531,234 $7,870,139 $8,224,296 $8,594,389 $8,981,136 $9,250,571
Other Income $174,522 $179,758 $185,151 $190,705 $196,426 $202,319
Potential Gross Income $7,705,756 $8,049,897 $8,409,446 $8,785,094 $9,177,563 $9,452,890
V&C -$327,495 -$342,121 -$357,401 -$373,366 -$390,046 -$401,748
Non Revenue -$67,040 -$70,034 -$73,162 -$76,430 -$79,845 -$82,240
Employee -$53,940 -$56,349 -$58,866 -$61,496 -$64,243 -$66,170
Concessions -$23,117 -$24,150 -$25,228 -$26,355 -$27,533 -$28,359
EGI $7,234,164 $7,557,244 $7,894,788 $8,247,446 $8,615,896 $8,874,373
Op Exp -$2,497,418 -$2,572,341 -$2,649,511 -$2,728,996 -$2,810,866 -$2,895,192
NOI $4,736,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,979,180
Painting $50,000 $57,964
Roof Replacement
Total Capital -$50,000 $0 $0 $0 $0 -$57,964
PBTCF $4,686,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,921,217
Interest Payment
Principal Payment
Cash Flow After Financing (CAF)
Unleveraged DCF
Unleveraged Cash Flow $4,686,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,921,217
Residual
Cost of Sale
Net Sale Price
Total Unleveraged CF $4,686,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,921,217
Price Price/Unit
Unleveraged Value @ 8.0% IRR $93,200,000 $253,950.95
Leveraged DCF
Leveraged Cash Flow $0 $0 $0 $0 $0 $0
Net Sale Price
Mortgage Balance
Sales Proceeds after Debt
Total Leveraged CF
Leveraged IRR
Key Inputs
Going-in Cap Rate 5.08%
Exit Cap Rate 5.75%
Cost of Sale 0.50%
DSCR
Debt Yield
7 8 9 10 11
$9,916,827 $10,214,332 $10,520,762 $10,836,385 $11,161,477
-$388,740 -$400,402 -$412,414 -$424,786 -$437,530
$9,528,088 $9,813,930 $10,108,348 $10,411,599 $10,723,947
$208,389 $214,640 $221,079 $227,712 $234,543
$9,736,476 $10,028,571 $10,329,428 $10,639,311 $10,958,490
-$413,800 -$426,214 -$439,001 -$452,171 -$465,736
-$84,707 -$87,249 -$89,866 -$92,562 -$95,339
-$68,155 -$70,200 -$72,306 -$74,475 -$76,709
-$29,209 -$30,086 -$30,988 -$31,918 -$32,875
$9,140,604 $9,414,822 $9,697,267 $9,988,185 $10,287,830
-$2,982,048 -$3,071,510 -$3,163,655 -$3,258,564 -$3,356,321
$6,158,556 $6,343,313 $6,533,612 $6,729,620 $6,931,509
$633,385
$0 $0 -$633,385 0.00
$6,158,556 $6,343,313 $5,900,227 $6,729,620
$0 $0 $0 $0
$119,945,240
$119,945,240
Legacy Fountain Place - 10 Year DCF
Years 0 1 2 3 4 5 6
All Units at Mkt Rent $7,838,503 $8,191,236 $8,559,841 $8,945,034 $9,347,561 $9,627,988
Loss-to-Lease -$307,269 -$321,096 -$335,546 -$350,645 -$366,424 -$377,417
PGI $7,531,234 $7,870,139 $8,224,296 $8,594,389 $8,981,136 $9,250,571
Other Income $174,522 $179,758 $185,151 $190,705 $196,426 $202,319
Potential Gross Income $7,705,756 $8,049,897 $8,409,446 $8,785,094 $9,177,563 $9,452,890
V&C -$327,495 -$342,121 -$357,401 -$373,366 -$390,046 -$401,748
Non Revenue -$67,040 -$70,034 -$73,162 -$76,430 -$79,845 -$82,240
Employee -$53,940 -$56,349 -$58,866 -$61,496 -$64,243 -$66,170
Concessions -$23,117 -$24,150 -$25,228 -$26,355 -$27,533 -$28,359
EGI $7,234,164 $7,557,244 $7,894,788 $8,247,446 $8,615,896 $8,874,373
Op Exp -$2,497,418 -$2,572,341 -$2,649,511 -$2,728,996 -$2,810,866 -$2,895,192
NOI $4,736,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,979,180
Painting $50,000 $57,964
Roof Replacement
Total Capital -$50,000 $0 $0 $0 $0 -$57,964
PBTCF $4,686,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,921,217
Interest Payment
Principal Payment
Cash Flow After Financing (CAF)
Unleveraged DCF
Unleveraged Cash Flow $4,686,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,921,217
Residual
Cost of Sale
Net Sale Price
Total Unleveraged CF $4,686,745 $4,984,903 $5,245,277 $5,518,450 $5,805,030 $5,921,217
Price Price/Unit
Unleveraged Value @ 8.0% IRR $93,200,000 $253,950.95
Leveraged DCF
Leveraged Cash Flow $0 $0 $0 $0 $0 $0
Net Sale Price
Mortgage Balance
Sales Proceeds after Debt
Total Leveraged CF
Leveraged IRR
Key Inputs
Going-in Cap Rate 5.08%
Exit Cap Rate 5.75%
Cost of Sale 0.50%
DSCR
Debt Yield
7 8 9 10 11
$9,916,827 $10,214,332 $10,520,762 $10,836,385 $11,161,477
-$388,740 -$400,402 -$412,414 -$424,786 -$437,530
$9,528,088 $9,813,930 $10,108,348 $10,411,599 $10,723,947
$208,389 $214,640 $221,079 $227,712 $234,543
$9,736,476 $10,028,571 $10,329,428 $10,639,311 $10,958,490
-$413,800 -$426,214 -$439,001 -$452,171 -$465,736
-$84,707 -$87,249 -$89,866 -$92,562 -$95,339
-$68,155 -$70,200 -$72,306 -$74,475 -$76,709
-$29,209 -$30,086 -$30,988 -$31,918 -$32,875
$9,140,604 $9,414,822 $9,697,267 $9,988,185 $10,287,830
-$2,982,048 -$3,071,510 -$3,163,655 -$3,258,564 -$3,356,321
$6,158,556 $6,343,313 $6,533,612 $6,729,620 $6,931,509
$633,385
$0 $0 -$633,385 0.00
$6,158,556 $6,343,313 $5,900,227 $6,729,620
$0 $0 $0 $0
$119,945,240
$119,945,240
Amortization Table
Loan Start Date Jan-11
Term 120
Loan End Date Dec-20
Loan Amount $56,400,000
Interest Rate 3.65%
Amortization 360
Monthly Payment ($258,007.19)