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2. You've just taken your first job for GTA Property Management and Developments, a large real estate firm in Etobicoke specializing in the purchase

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2. You've just taken your first job for GTA Property Management and Developments, a large real estate firm in Etobicoke specializing in the purchase and management of rental housing complexes. GTA is planning to buy Ford Haven, a recently built, 200-unit, affordable housing development in the Rosedale area of central Toronto. Data required to describe the economic performance and profitability of Ford Haven appears in Appendix II below. On the basis of this data, your supervisor orders you to: a. state the estimated NOI (net operating income) for the coming year for the Ford Haven housing complex b. state the estimated net cash flows for the coming year for this same housing complex by augment- ing your pro forma statement with the anticipated outlays for recurring and non-recurring items described in the situation below.

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