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Assignment 3 Section CBMW Iuly 27 (1) Samed Auto save Revie View Formulas Help File Home Insert Page Layout Conditional Formatting 20 Gene X A 9 ma MM B N 0 Prot. Michael Masters D 10 You are a Real Estate developer building a small office tower in Montreal. The construction will take one year and the units have all been pre-leased. 11. The stabilized NOI at opening will be $720,000 and comparable cap rates are 6%. 12 The construction lender is willing to finance the project based on the terms and conditions shown below. a) Based on the budget, calculate the oustanding construction loan at the end of the year. b) How much equity will you be able to withdraw at the end of the construction period if you take-out a mortgage with the terms and consitions shown 1 14 1. Please make your calculations to the "right of the data and rent roll on this worksheet. 12 Upload your file onto Moodle by the deadline indicated on the course outline. 10 22 Development Budget: 2 000 000 24 Land 25 Se preparation 26 Hardcoats 27 Profesionales 3.000.000 300.000 Pirmame a DELL E F G I 22 Development Budget: 23 24 Land 25 Site preparation 26 Hard costs 27 Professional fees 28 Permits 29 Project management 30 Lesing commissions 31 Other soft costs 32 33 Interest 34 TOTAL 2.000.000 250.000 8.000.000 300.000 75.000 150.000 16.000 200.000 10.991.000 109.000 11.100.000 35 36 37 Cash flow: 38 39 The land is purchased and site preparation occur in 40 the first month. The soft cost (excluding interest) are 41 evenly distributed over the 12 month period. The 42 hard costs are evenly dirtibuted over month 3 to 43 month 12. All cash flows occur at the end of the 44 month. 45 46 Sheet1 48 65,0% 5,0% 720.000 6,0% 49 Construction loan: 50 51 LTC 52 Interest rate 53 54 55 Stabilized NOI at opening 56 Comparable cap rates 57 58 59 Mortgage loan: 60 61 Term (years) 62 Amortization period (years) 63 Mortgage rate 64 Maximum LTV 65 Minimum DSCR 66 5 25 4,0% 75,0% 1,25 67 68 69 70 Sheet1 Assignment 3 Section CBMW Iuly 27 (1) Samed Auto save Revie View Formulas Help File Home Insert Page Layout Conditional Formatting 20 Gene X A 9 ma MM B N 0 Prot. Michael Masters D 10 You are a Real Estate developer building a small office tower in Montreal. The construction will take one year and the units have all been pre-leased. 11. The stabilized NOI at opening will be $720,000 and comparable cap rates are 6%. 12 The construction lender is willing to finance the project based on the terms and conditions shown below. a) Based on the budget, calculate the oustanding construction loan at the end of the year. b) How much equity will you be able to withdraw at the end of the construction period if you take-out a mortgage with the terms and consitions shown 1 14 1. Please make your calculations to the "right of the data and rent roll on this worksheet. 12 Upload your file onto Moodle by the deadline indicated on the course outline. 10 22 Development Budget: 2 000 000 24 Land 25 Se preparation 26 Hardcoats 27 Profesionales 3.000.000 300.000 Pirmame a DELL E F G I 22 Development Budget: 23 24 Land 25 Site preparation 26 Hard costs 27 Professional fees 28 Permits 29 Project management 30 Lesing commissions 31 Other soft costs 32 33 Interest 34 TOTAL 2.000.000 250.000 8.000.000 300.000 75.000 150.000 16.000 200.000 10.991.000 109.000 11.100.000 35 36 37 Cash flow: 38 39 The land is purchased and site preparation occur in 40 the first month. The soft cost (excluding interest) are 41 evenly distributed over the 12 month period. The 42 hard costs are evenly dirtibuted over month 3 to 43 month 12. All cash flows occur at the end of the 44 month. 45 46 Sheet1 48 65,0% 5,0% 720.000 6,0% 49 Construction loan: 50 51 LTC 52 Interest rate 53 54 55 Stabilized NOI at opening 56 Comparable cap rates 57 58 59 Mortgage loan: 60 61 Term (years) 62 Amortization period (years) 63 Mortgage rate 64 Maximum LTV 65 Minimum DSCR 66 5 25 4,0% 75,0% 1,25 67 68 69 70 Sheet1
