[Solved] 17 Assume that you purchased Towers six y

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17 Assume that you purchased Towers six years ago for $115.00 MM. Given the following assumptions, how much are the excess loan proceeds after refinancing

17 Assume that you purchased Towers six years ago for $115.00 MM. Given the following assumptions, how much are the excess loan proceeds after refinancing the acquisition loan?

Acquisition loan: $80.50 MM
Acquisition loan interest rate: 5.00% with monthly payments
Acquisition loan amortization term: 30 years
Hold duration: 6 years
Appraised value at refinancing: $180.00 MM
Refinancing LTV: 70.00%

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