Input or Print ViewYou can easily  switch between the Input View and Print view anytime by using the dropdown menu on each tab.  In Input View, all of the input cells will be highlighted orange.

The Summary Tab is where you will enter most of the assumptions for your model.  This page has several boxes which break the assumptions into different easy-to-understand categories.


  1. Begin by filling in the Property Information and Acquisition Assumptions boxes.

    1. You can change the project from “Acquisition” to “New Construction” by using the dropdown menu in cell $H$7.
  2. Next, fill in your Capital Structure and Debt Assumptions.

    1. The Desired Equity Rate is equal to your Discount Rate. (See Definitions page.)
    2. If transaction is a joint venture, you can enter the equity contributions and cash splits in the Capital Structure box.
    3. If you are not sure of your tax rates, you can enter zero’s (0) for each one.
    4. The “Assessed Value of Improvements” under the Cost Recovery Assumptions dictates how much of the property value is attributable to the improvements and how much is attributable to the land. Keep in mind that land is not depreciatable.
  3. Debt Assumptions
  4. Debt Structure
    1. If your Debt Assumptions include an upfront Interest-Only period, you will enter the terms here.  Otherwise, select “No” from the Interest Only dropdown list.
    2. Use the Funding Status drop-down menu to select whether the Interest-Only loan is fully funded from the beginning (Fully Funded), or will fund up over time as in a typical construction loan (Fund Up).
    3. You can choose to amortize the current construction/IO loan or Resize the loan amount from the “Action at Maturity” dropdown menu.
      (Check out how to change the starting balance of a construction loan.)
    4. For the Amortizing Loan, you can select a fixed or floating rate.  If you choose a floating rate, you will receive options to enter the amount and frequency of rate adjustments.
  5. Last but not least are the Sale Assumptions.

    1. From the Disposition Method menu, you can select from either:
      1. Cap Rate
      2. Annual Growth Rate
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