ute-Saw ' berrlF'u-l Consultant File Horne Insert Page Layout Formulas Data Review View Help 16 Share 5' Comments [51 5 Calibn E E E s'y-v EEWrapText General v E: w y #X' 2H: 2 ' Z? p E)? 53' a I W we , 2 2s 221:2;L22::2; L L $3 $22222 Clipboard Ii Font Ii Alignment Ii Number i; Styles Cells Editing Analysis 122 v 5 )5- A A I B | c I D | E | F I G I H l I | J I K I L I M I N I o I P 9 13 You are a Real Estate developer building a small ofce tower in Montreal. The construction will take one year and the units have all been preileased. 11 The stabilized NOI at opening will be $160,000 and comparable cap rates are 6%. 12 The construction lender is willing to nance the project based on the terms and conditions shown below. 'i 3) Based on the budget, calculate the oustanding construction loan at the end of the year. 14 b) How much equity will you be able to withdraw at the end of the construction period if you takeiout a mortgage with the terms and consitions 15 Please make your calculations to the "right of the data and rent roll" on this worksheet. 1: Upload your file onto Moodle by the deadline indicated on the course outline. i Development Budget: I 24 Land 2.000.000 AutoSave O Off) Assignment 3 new - Excel Search Robben-IPv4 Consultant RC X File Home Insert Page Layout Formulas Data Review View Help Share Comments LO Calibri 12 A A ab Wrap Text General AYO Paste BIUY E = Merge & Center ~ $ ~ % " Conditional Format as Cell Insert Delete Format Sort & Find & Analyze Formatting " Table Styles Filter * Select v Data Clipboard Font Alignment Number Styles Cells Editing Analysis 122 X V B C E F G H J K L M N P Q S T 21 22 Development Budget: 23 24 Land 2,000,000 25 Site preparation 250,000 26 Hard costs 8,000,000 27 Professional fees 300,000 28 Permits 77,000 29 Project management 150,000 30 Lesing commissions 16,000 31 Other soft costs 195,000 32 10,988,000 33 Interest 109,000 34 TOTAL 11,097,000 35 36 37 Cash flow: 38 39 The land is purchased and site preparation 40 occur in the first month. The soft cost 41 (excluding interest) are evenly distributed 42 over the 12 month period. The hard costs are 43 evenly dirtibuted over month 3 to month 12. 44 All cash flows occur at the end of the month. 45 46 47 48 onetruction loans Sheet1 + Ready + 77% Type here to search X N 1:47 PM O W C 24'C ~ ( 8 ) ENG 2021-08-04AutoSave O Off) Assignment 3 new - Excel Search Robben-IPv4 Consultant RC X Page Layout Formulas View Help Share Comments File Home Insert Data Review AYO LO Calibri 12 A A ab Wrap Text General Paste Conditional Format as Cell Insert Delete Format Sort & Find & Analyze BIUY E = Merge & Center ~ $ ~ % " Formatting " Table Styles Filter * Select v Data Font Alignment Number Styles Cells Editing Analysis Clipboard 122 X V S T B C E F G H J K L M N P Q 48 49 Construction loan: 50 51 LTC 65.0% 52 Interest rate 5.0% 53 54 55 Stabilized NOI at openin 750,000 56 Comparable cap rates 6.0% 57 58 59 Mortgage loan: 60 61 Term (years) 5 62 Amortization period (yea 20 63 Mortgage rate 4.0% 64 Maximum LTV 75.0% 65 Minimum DSCR 1.25 66 67 68 69 70 71 72 73 74 75 Sheet1 (+ + 77% Ready 1:47 PM Type here to search O X W N C 24'C ~ ( 8 ) ENG 2021-08-04
