A B C D E F G H 1 J K L M N O P Directions: Partition the IRR for the property below. Assume a 5-year hold. Assumptions: Purchase Price 10,500,000 Year 0 1 2 3 4 5 6 Exit Cap Rate 5.75% Purchase Price (10,500,000) Rental Rates 20.50 Disposition 15,495,966 Rent/Expense Inflation 3.00% Expenses (gross) 10.00 Rental Income 1,500,600 1,545,618 1,591,987 1,639,746 1,688,939 1,739,607 Building Size 80,000 Less: Expenses 732,000 753,960 776,579 799,876 823,872 848,589 Occupancy 91.5% NOI 768,600 791,658 815,408 839,870 865,066 891,018 Selling Price based on Next Year's NOI using Exit Cap Rate. Net Cash Flows (10,500,000) 768,600 791,658 815,408 839,870 16,361,032 IRR 14.8% Show your work for Partitioning IRR here