Name: 8 9 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 $750,000 and comparable cap rates are 6%. 12 The construction lender is willing to finance the project based on the terms and conditions shown below. 13 14 15 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 conditions shown below? 16 Please make your calculations to the right of the data on this worksheet.