ABC COMPANY Comparative Balance Sheet Accrual Mar 2018 Dec 2017 ASSETS Operating 1 443.521.63 308,762.18 Operating 2 45.513.72 44.496.36 Accounts Receivable- Tenant Billings (19,791.41) 38,931.71 AR - Parking 7.250.00 18,306.98 Accounts Receivable- Other 16,875.00 11.500.00 AR - Affiliates 3.580.31 3,580.31 Prepaid Insurance 1.201.23 11.199.61 Prepaid Taxes 14.958.54 0.00 Prepaid Other 806.18 555.15 Land 17.419.867.50 17.419.867.50 Building 38.755.132.50 38.755,132.50 General Improvements 3,806.454.05 3.229.685.12 Tenant Improvements 2.563,678.73 2.563,678.73 Lease Commissions 852.418.30 815.356.79 Capitalized Lease Legal 42.720.82 30.082.51 Loan Costs 1.405.523.54 1.405.523.54 Accum. Amort - Loan Costs (935,836.58) (900,515.07) Restricted Cash - Property taxes 375.191.85 212.816.04 Restricted Cash - Insurance 60.165.59 46.685.59 Restricted Cash - Capital 273.892.90 410.808.25 Derivative Financial Instruments 117.800.00 117.800.00 TOTAL ASSETS 65.250.733.40 84.544,214.80 LIABILITYS Accrued Expenses 59.420.93 70.733.95 Accrued Interes 206.319.94 186,890.10 Accrued Property Taxes 176,031.00 0.00 Accrued Other Liabilities 133.712.72 1.509.696.04 Unearned Revenue- Current 66.500.89 56,250.72 Tenant Deposits Payable 321.706.52 312.279.35 Due to Affiliate 410.35 1.569.29 Ist Mortgage 34.252.313.49 32.358,985.40 TOTAL LIABILTIES 35.216.415.84 34.496.404.85 EQUITY Contributions 33.637.696.19 33,197.773.19 Distributions (343,828.81) (343,828.81) Retained Earnings (3,259,549.82) 2,806,134.43) TOTAL EQU 30.034.317.56 30.047.809.95 TOTAL LIABILITIES & EQUITY 85.250.733.40 84.544.214.80Comparative Income Statement Page 3/3/2018 ABC COMPANY Date: Time: 05:48 PM Accrual Current Period Year-To-Date Actual Budget Actual Budget Thru: Mar 2018 Mar 2018 Variance Mar 2018 Mar 2018 Variance Revenue Base Rent 186,808.14 185,602.59 (28,696.45) -14.67% 533,664.86 586,807.77 (53,143.11) -9.08% Escalations 19,290.0 19,318.11 (28.11) -0,15% 67,870.00 67.954.33 (84 33) 0.15% Parking 6,584.75 14.654.00 8,069.25) -55.07% 21,252.33 43,000.00 21,747 67) -50.58% 11.643.75 4.757.00 34,931.25 14.271.00 20.660.25 144.77% Other 6.886.75 144.77%% Total Revenue 204,424.64 234,331.70 (29,807_08) -12.76% 647,718.24 702,033.10 54,314.86) -7.74% Operating Expenses Cleaning 15,180.52) 17,691.00 2 510.48 4.19% 41,124.11) (33,534.00) (7,590.11) -32.63% -30.565% Repairs and Maintenance (3,989.77) (16,426.00) 12 436.23 5.71% 47,526.31) (36,402.00) (11,124.31) Utilities (4,468 25) (29,464 04) 24.986.59 14.84% (42,756.64) (95,421.52) 52,664.88 65.19% Security (973.12) (600.00) (373.12) 62.19% (8,659.82) (1,800.00) (4,859 82) -270.00% Property Management Fee (7,700.00) (7,029 95) (670.05) -9.53% (23,100.00) (21,080.99) (2,039.01) -9.69% Administration (32,597.49) (39,859.00) 261.51 18.2256 104,816.83) (111,721.00) 6,904.17 6,18% Real Estate Taxes (60,339.80) (60,536.09) 196.19 0.325 181,017.18) (181,607.87) 0.33% Insurance (3,332 78) (3,333.00) 0.01% (9,998.38) (9,998.40) 0.42 0.00% Total Operating Expenses (128,581.83) (174,939.88) 46,358.05 26.50% 456,999.37) (491,546.18) 34.545.81 7.03% Parking 0.00 0.00 0.00 0.005 0.00 (250.00) 250.00 100.00% Legal 0.00 0,00 0.005% (8.754.50) (3,754.50) -100.00% Other 3,262 46] (3,825.18) 562.72 14.71% (11,003.44) (39,736.54) 28,732.10 72.31% Total Expenses (131,844 29) (178,765.06) 46,920.77 26.25%% (476,757.31 (531,531.72 54,774.41 10.31% Net Operating Income (Loss) 72,580.35 55,568.64 7,013.71 30.62% 170,960.83 170,501.38 158.5 0.27% Tenant Improvements 0.00 (15,742 50) 15 742.50 100.00% 0.00 (380,385.00) 380,385.00 100,00% Leasing Commissions 67.28 (13,750.14) 13,817.42 100.49% (48,708.82) (79,081.25) 29,352.43 37.13% Capital (13,840.49) (244,650.00 231,109,51 14.47% 576,748.93) (702,120.00) 125,331.07 17.85%% Owner's Expenses 1,000.00 0.0 (1,000.00) -100.00% (3,000.00) 0.00 3,000.00) -100.00% Cash Flow 58,107.14 (218,576 00) 276 683.14 126.58% (468,636.82) (991,084.87) 532,528.05 $3,73% Debt Service - Principal 262,980.48 411,019.00 (148,038 52) -36.02% 1,893,328.09 1,579,525.00 313,803.09 19.87% Debt Service - Interest (241,641.45) (305,138.96) 63 468.51 20.81% 621,376.32) (684,417.96) 73,041.64 10.52%Comparative Income Statement Page: 2 Date: 3/3/2018 ABC COMPANY Time: 05:48 PM Accrual Current Period Year-To-Date Actual Budget Actual Budget Thru: Mar 2018 Mar 2018 Variance Mar 2018 Mar 2018 Variance Net Cash Flow 79,446.17 (112,696 96 192 143.13 170.50%% 813,414.95 (105,957.83) 919,372.78 867.68% Add: Tenant Improvements 0.00 15,742.50 (15,742 50) -100.00% 0.00 380,385.00 (380,385.00) -100.00% Leasing Commissions (67 28) 13.760.14 (13,817 42) -100,49% 49,708 82 79,061.25 (29,352 43) -37.13% Capital 13,540.48 244 650.0 231,108.51) -84.47%% 576,788.93 702,120.00 (125,331.07) -17.85% Debt Service - Principal (262,980.48) (411,019.00) 148.038.52 36.02%% (1,893,328.09) 1,579,525.00 (313,803.09) -19.87% Net Investment Income (170,081.10) (249,573.32 78 512.22 31.86% 453,415.39) (523,916.58) 70,501.18 13.46% Increase (Decrease) in Net Assets (170,081.10) (249,573.32) 78,512.22 31.86% (453,415.39) (523,916.58) 70,501.18 13.48%Rent Roll 342019 ABC COMPANY Date TIME 2:34 FM Monthly Annual Monthly Expense Monthly -- Future Rent Increases - alda Id Sult Id Occupant Name Flent Start Explration Rate PSF Cost Recovery Stop Other Income Cat Date Monthly Amount PSF New Leases AV4040 1000A KGD Architecture 3/1/2018 2/28/2023 AV4040 10008 GROUPSENSE, INC. 6/U2018 10/31/2023 10 366 AV4040 601 VERTICAL APPLICATIONS, INC. 5/12018 6/30/2021 2.924 AV4040 700 CEG Solutions, LLC 1/20 2018 1013 1/2025 19 929 AM4040 800 INTEROS SOLUTIONS, INC. 271/2019 8/31/2026 19,925 AV4040 801 UNIFIED PHYSICIAN MANAGEMENT 5/1/2019 12131/2029 AV4040 838 COMPULINK MANAGEMENT 2712019 8/312025 vacant Sultee AV4040 10008 Vacant 10,366 AV4040 100C Vacant 2,786 AV4040 601 Vacant 2.924 AV4040 700 Vacant 19.929 AV4040 800 Vacant 19.929 AV4040 900 Vacant 19.929 Occupled Sultes AV4040 1008 EAGLE BANK (HAR BLOCK SUBLEA 4/3/2014 4/30/2024 2 033 9,077.66 53.58 1.739.00 225.00 OFE 1/1/2018 1,779.00 10.50 OFE 1//2019 1,687 00 9.95 ORR 5//2017 9,304.60 54.92 ORR 5/1/2018 9,537 32 56.29 ORR 5/1/2019 9,775.65 57.70 ORR 10.020 04 59.14 ORR 5//2021 10,270 54 60.62 5//2022 10,527.30 62.14 ORR 5//202 10,790.49 63.69 AV4040 200 MARYMOUNT UNIVERSITY 71/2014 6/30(2027 19.929 61,364.71 36.95 7.650.00 OFC 71/2017 63.058.68 37.97 OFG 71/2018 64,785 86 39.0Rent Roll FaDE: 34/2019 TIME 2:34 PM Monthly Annual Monthly Expense Monthly -- Future Rent Increases -- alda Id Sult Id Occupant Name Flent Start Expiration Base Rent Rate PSF Cost Recovery Stop Other Income Cat Date Monthly Amount OFC 7/1/2019 66,562 86 40.08 OFC 71/2020 68,406 29 41.19 OFC 71/2021 70,282 94 42.32 OFC 7/1/2023 72,209.41 43.48 OFC 7/1/2023 74,202 31 44.68 OFC 71/2024 76,245 03 45.91 OFC 7/1/2025 78 337 58 47.17 OFC 7//2026 80 496 55 48.47 OFE 1//2018 3.51 OPE 1//2019 4,791.00 2.83 RET 1//2018 2,406 00 RET 1//2019 1.22 Additional Space AV4040- 1004 7/1/2014 6/30(2027 7.401 22,768.91 36.95 2.841.00 OFC 7//2017 3,418.00 26' LE OFC 71/2018 24 059.42 39.01 OFC 711/2019 24,719 34 40.08 OFC 7/1/2020 25,403 93 41.19 OFC 71/2021 26, 100 86 42.32 OFC 71/2027 26 816 39 43.48 OFC 7//2023 27.596 39 44.68 OFC 28,314 45.91 OFC 7/4/2025 29,092 10 47.17 OFC 7/1/2026 29,893 87 48.47 OFE 1//2018 2,164.00 3.51 OFE 1//2019 1,779.00 2.85 RET 1/2/2018 894.00 RET 1//2019 755 00 Additional Space AV4040- 3004 7/1/2014 6/30/2027 10.080 31,038.00 36.95 3,869.00 Additional Space AV4040- 3008 1/1/2015 12131/2017 9,849 30,977.80 37.74 3,780.00 Additional Space AV4040- 400 1/2015 12131/2017 19.929 62,682.16 37.74 6,390.00 Additional Space AV4040- 500 1/2015 1213-1/2017 19.929 62,682.16 37.74 7 650.00Rent Roll FaDE: 34/2019 TIME 2:34 PM Monthly Annual Monthly Expense Monthly -- Future Rent Increases -- alda id Sult Id Occupant Name Flent Start Expiration Base Rent Rate PSF Cost Recovery Stop Other Income Cat Date Monthly Amount OFC 71/2017 31,894.80 37.97 OFC 7//2018 32,758.40 39.0 OFC 71/2019 33,657.20 40.08 OFC 71/2020 34,599.60 41.19 OFC 7/1/2021 35,548.80 42.32 OFC 71/2022 36,523 20 43.48 OFC 7/1/2023 17.531.20 44.68 OFC 7//2024 38.564.40 45.91 OFC 7//2025 47.17 OFC 71/2026 40,714.80 48.47 1//2018 2,947_00 3.51 OPE 1//2015 2,423 00 2.88 FLET 1//2018 1,21700 1.45 RET 1//2019 1,028.00 137 Total 87.117 271,533.74 32,180.00 0.00 AV4040 600 DOMINION FERTILITY 5/18/2016 5/3112027 10.052 FIRR 4/ 9(2017 0.00 OFC 5//2017 31,845 99 38.02 OFC 5/2018 32,721.76 39.05 OFC 5//2019 33,621.61 40.14 OFC 34,546.20 41.24 OFC 5//2021 35,496.22 42.38 OFC 5//2022 36,472 37 43.54 OFC 5//2023 37 475 36 44.74 OFC 5//2024 38,505 93 45.97 OFC 5/1/2025 39,564.84 47.23 OFC 5//2026 40,652 87 48.53 OFC 5//2027 41,770.82 49.87 OFE 6//2017 284 00 0.34 OFE 1//2018 OFE 1//2019 825 00 0.38 RET 6//2017 359.00 0.43 RET M/2018 74 00 0.33 RET 1//2019 50 00 0.07 AV4040 650 IBJ INTERNATIONAL 12/1/2015 11/30/2020 6.953 23,218.67 40.07 762.00 OFC 12/1/2017 13,857-19 41.17 OFC 12/12018 24,513 26 42.31 OFC 12/1/2019 25,187 38 43.47 OFE 1//2018 OPE 1/1/2019 603.00 1.04 RET 1//2018 242 00 0.42 RLET 1/1/2019 94.00 0.16Rent Roll Date 34/2019 TIME 2:34 FM Monthly Annual Monthly Expense Monthly -- Future Rent Increases - Blog id Sult Id Occupant Name Rent Start Expiration Base Rent Rate PSF Cost Recovery Stop Other Income Cat Date Monthly Amount PSF Totals Occupled Soft: 58.3296 9 Units 06,155 303,830.07 34,681.00 325.00 eased Unoccupled Suit Vacant Sqlt: 41.68% 6 Units 75.863 Total Sqit: 15 Units 182 018 303,830.07 Total Occupled Soft: 58.3795 9 Un 105 155 303,830.07 34,681.00 225.00 Leased/Unoccupled Sqit D Units vacant Sqlt: 41.689% 6 Units 75.863 Total Suit: 15 Units 32 018 303,830.07 Grand Total: Occupled Soft 58.3295 9 Units 106,155 303,830.07 34,681.00 225.00 Leased Unoccupled Sqit 0 Units D vacant Soit 41.689% 6 Un 75,863 Total Soit 15 Units 182 018 303,830.07The ABC Co Test Questions Flease show your work for all questions. The ABC Co is a commercial real estate property. 1 2. 3. Please create an equity rollfoward for the Q1 2018 period of The ABC Co. Please create a cash flow statement for the Q1 2018 period of The ABC Co. The ABC Co started accruing real estate taxes in January 2018 based on the real estate taxes covering 1/1/2017 - 12/31/2017. What are the estimated real estate taxes for 20187 The following data applies to The ABC Co: s 52,218,648 NOI for the trailing 12 months, as of Q1 2018 s 52,220,345 Interest Expense for the trailing 12 months, as of Q1 2018 = |nterest only payment on loan until maturity a. Calculate the Debt Yield as of Q1 2018. b. Calculate the Debt Service Coverage Ratio as of Q1 2018. Please describe whether the property is profitable