{"text_format":"1","workbook":"xlsx","n_sheets":13,"sheets":["Settings","Intro","Assumptions","Unit Mix","Lease Up Schedule","Cash Flows","Summary Charts","Summary & Ratios","Return Detail","Loan Amortization","Sources & Uses","Equity Investor Returns","Holding Period Sensitivity"],"not_rendered":{"charts":10,"images":4,"macros":1,"external_links":0,"defined_names":130,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Settings","index":0,"n_rows":79,"n_cols":30,"rows_kept":79,"cut":false,"hidden":true,"merged":[]}
["Version Number","Lock Workbooks:","BETA"]
[9.42,"Yes","No"]
[{"$f":"CONCATENATE(A2,\" SH | © 2022\")","v":"9.42 SH | © 2022"}]
[]
["View Options",1,1]
["Input View",null,"Show Periods"]
["Print View",null,"Show Dates"]
[]
["Summary Chart Data",null,1,2,3,4,5,6,7,8,9,10,null,"Amortizing Rate Structure",null,null,null,"Loan Costs Amortization"]
["Net Operating Income",null,{"$f":"'Sources & Uses'!D11","v":515106.375},{"$f":"'Sources & Uses'!E11","v":822908.71499999985},{"$f":"'Sources & Uses'!F11","v":847595.97644999996},{"$f":"'Sources & Uses'!G11","v":873023.85574349994},{"$f":"'Sources & Uses'!H11","v":899214.57141580491},{"$f":"'Sources & Uses'!I11","v":926191.00855827914},{"$f":"'Sources & Uses'!J11","v":953976.73881502752},{"$f":"'Sources & Uses'!K11","v":982596.04097947839},{"$f":"'Sources & Uses'!L11","v":1012073.9222088627},{"$f":"'Sources & Uses'!M11","v":1042436.1398751285},null,"Year","Step ","Rate",null,"Year","Start","End","I/O","Amortizing","Total"]
["Debt Serivce",null,{"$f":"IF('Cash Flows'!F$90=0,NA(),'Cash Flows'!F$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!G$90=0,NA(),'Cash Flows'!G$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!H$90=0,NA(),'Cash Flows'!H$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!I$90=0,NA(),'Cash Flows'!I$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!J$90=0,NA(),'Cash Flows'!J$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!K$90=0,NA(),'Cash Flows'!K$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!L$90=0,NA(),'Cash Flows'!L$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!M$90=0,NA(),'Cash Flows'!M$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!N$90=0,NA(),'Cash Flows'!N$90)","v":{"$error":"#N/A"}},{"$f":"IF('Cash Flows'!O$90=0,NA(),'Cash Flows'!O$90)","v":{"$error":"#N/A"}},null,1,0,{"$f":"Loan_Amor_Rate+O11","v":0},null,1,1,12,{"$f":"IF($R11>Hold,0,IF(Loan_IO_Term<$S11,0,IF(Loan_IO_Term>=$T11,(Loan_IO_Fee*Loan_Amount*12)/Loan_IO_Term,(Loan_IO_Term-S11+1)*((Loan_IO_Fee*Loan_Amount)/Loan_IO_Term))))","v":0},{"$f":"IF(OR(R11>Hold,Loan_IO_Term>=T11),0,IF(T11-Loan_IO_Term<12,((Loan_Amount_Amortizing*Loan_Amor_Fee)/Loan_Amor_Term)*(T11-Loan_IO_Term),IF(T11<=SUM(Loan_IO_Term,Loan_Amor_Term),(Loan_Amount_Amortizing*Loan_Amor_Fee*12)/Loan_Amor_Term,IF(AND(SUM(Loan_IO_Term,Loan_Amor_Term)>=S11,SUM(Loan_IO_Term,Loan_Amor_Term)<T11),((Loan_Amount_Amortizing*Loan_Amor_Fee)/Loan_Amor_Term)*(SUM(Loan_IO_Term,Loan_Amor_Term)-S11+1),0))))","v":0},{"$f":"SUM(U11:V11)","v":0}]
["Cash Flow After Taxes",null,{"$f":"'Return Detail'!F83","v":334819.14375000005},{"$f":"'Return Detail'!G83","v":534890.66475},{"$f":"'Return Detail'!H83","v":550937.3846925},{"$f":"'Return Detail'!I83","v":567465.50623327494},{"$f":"'Return Detail'!J83","v":584489.47142027318},{"$f":"'Return Detail'!K83","v":602024.15556288138},{"$f":"'Return Detail'!L83","v":620084.88022976788},{"$f":"'Return Detail'!M83","v":638687.42663666094},{"$f":"'Return Detail'!N83","v":657848.04943576083},{"$f":"'Return Detail'!O83","v":677583.49091883353},null,2,{"$f":"IF(MOD(N11,Loan_Amor_RateGrowthPeriod)=0,Loan_Amor_RateGrowth,0)","v":0},{"$f":"P11+O12","v":0},null,2,{"$f":"T11+1","v":13},{"$f":"T11+12","v":24},0,0,{"$f":"SUM(U12:V12)","v":0}]
["Return on Asset",null,{"$f":"IF(C$9>Hold,NA(),'Return Detail'!F9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(D$9>Hold,NA(),'Return Detail'!G9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(E$9>Hold,NA(),'Return Detail'!H9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(F$9>Hold,NA(),'Return Detail'!I9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(G$9>Hold,NA(),'Return Detail'!J9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(H$9>Hold,NA(),'Return Detail'!K9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(I$9>Hold,NA(),'Return Detail'!L9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(J$9>Hold,NA(),'Return Detail'!M9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(K$9>Hold,NA(),'Return Detail'!N9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},{"$f":"IF(L$9>Hold,NA(),'Return Detail'!O9/Acquisition_Unlevered)","v":{"$error":"#DIV/0!"}},null,3,0,0,null,3,{"$f":"T12+1","v":25},{"$f":"T12+12","v":36},0,0,0]
["Before Tax Cash on Cash",null,{"$f":"IF(C$9>Hold,NA(),'Return Detail'!F80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(D$9>Hold,NA(),'Return Detail'!G80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(E$9>Hold,NA(),'Return Detail'!H80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(F$9>Hold,NA(),'Return Detail'!I80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(G$9>Hold,NA(),'Return Detail'!J80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(H$9>Hold,NA(),'Return Detail'!K80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(I$9>Hold,NA(),'Return Detail'!L80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(J$9>Hold,NA(),'Return Detail'!M80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(K$9>Hold,NA(),'Return Detail'!N80/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(L$9>Hold,NA(),'Return Detail'!O80/Equity_Amount)","v":{"$error":"#DIV/0!"}},null,4,0,0,null,4,{"$f":"T13+1","v":37},{"$f":"T13+12","v":48},0,0,0]
["After Tax Cash on Cash",null,{"$f":"IF(C$9>Hold,NA(),'Return Detail'!F83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(D$9>Hold,NA(),'Return Detail'!G83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(E$9>Hold,NA(),'Return Detail'!H83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(F$9>Hold,NA(),'Return Detail'!I83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(G$9>Hold,NA(),'Return Detail'!J83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(H$9>Hold,NA(),'Return Detail'!K83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(I$9>Hold,NA(),'Return Detail'!L83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(J$9>Hold,NA(),'Return Detail'!M83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(K$9>Hold,NA(),'Return Detail'!N83/Equity_Amount)","v":{"$error":"#DIV/0!"}},{"$f":"IF(L$9>Hold,NA(),'Return Detail'!O83/Equity_Amount)","v":{"$error":"#DIV/0!"}},null,5,0,0,null,5,49,60,0,0,0]
["Pre Tax",null,{"$f":"IF(C9>Hold,NA(),'Cash Flows'!F93)","v":1.8374999999999999E-2},{"$f":"IF(D9>Hold,NA(),'Cash Flows'!G93)","v":2.8499999999999994E-2},{"$f":"IF(E9>Hold,NA(),'Cash Flows'!H93)","v":2.8499999999999998E-2},{"$f":"IF(F9>Hold,NA(),'Cash Flows'!I93)","v":2.8499999999999994E-2},{"$f":"IF(G9>Hold,NA(),'Cash Flows'!J93)","v":2.8499999999999994E-2},{"$f":"IF(H9>Hold,NA(),'Cash Flows'!K93)","v":2.8499999999999994E-2},{"$f":"IF(I9>Hold,NA(),'Cash Flows'!L93)","v":2.8499999999999994E-2},{"$f":"IF(J9>Hold,NA(),'Cash Flows'!M93)","v":2.8499999999999994E-2},{"$f":"IF(K9>Hold,NA(),'Cash Flows'!N93)","v":2.8499999999999994E-2},{"$f":"IF(L9>Hold,NA(),'Cash Flows'!O93)","v":2.8499999999999994E-2},null,6,{"$f":"IF(MOD(N15,Loan_Amor_RateGrowthPeriod)=0,Loan_Amor_RateGrowth,0)","v":0},{"$f":"P15+O16","v":0},null,6,{"$f":"T15+1","v":61},{"$f":"T15+12","v":72},0,0,0]
["After Tax",null,{"$f":"IF(C9>Hold,NA(),IFERROR(SUM('Cash Flows'!F129,'Cash Flows'!F99,'Cash Flows'!F90,'Cash Flows'!F55)/SUM('Cash Flows'!F33,'Cash Flows'!F24,'Cash Flows'!F98),NA()))","v":-0.18956874999999998},{"$f":"IF(D9>Hold,NA(),IFERROR(SUM('Cash Flows'!G129,'Cash Flows'!G99,'Cash Flows'!G90,'Cash Flows'!G55)/SUM('Cash Flows'!G33,'Cash Flows'!G24,'Cash Flows'!G98),NA()))","v":-0.29402499999999993},{"$f":"IF(E9>Hold,NA(),IFERROR(SUM('Cash Flows'!H129,'Cash Flows'!H99,'Cash Flows'!H90,'Cash Flows'!H55)/SUM('Cash Flows'!H33,'Cash Flows'!H24,'Cash Flows'!H98),NA()))","v":-0.29402499999999993},{"$f":"IF(F9>Hold,NA(),IFERROR(SUM('Cash Flows'!I129,'Cash Flows'!I99,'Cash Flows'!I90,'Cash Flows'!I55)/SUM('Cash Flows'!I33,'Cash Flows'!I24,'Cash Flows'!I98),NA()))","v":-0.29402499999999993},{"$f":"IF(G9>Hold,NA(),IFERROR(SUM('Cash Flows'!J129,'Cash Flows'!J99,'Cash Flows'!J90,'Cash Flows'!J55)/SUM('Cash Flows'!J33,'Cash Flows'!J24,'Cash Flows'!J98),NA()))","v":-0.29402499999999993},{"$f":"IF(H9>Hold,NA(),IFERROR(SUM('Cash Flows'!K129,'Cash Flows'!K99,'Cash Flows'!K90,'Cash Flows'!K55)/SUM('Cash Flows'!K33,'Cash Flows'!K24,'Cash Flows'!K98),NA()))","v":-0.29402499999999993},{"$f":"IF(I9>Hold,NA(),IFERROR(SUM('Cash Flows'!L129,'Cash Flows'!L99,'Cash Flows'!L90,'Cash Flows'!L55)/SUM('Cash Flows'!L33,'Cash Flows'!L24,'Cash Flows'!L98),NA()))","v":-0.29402499999999987},{"$f":"IF(J9>Hold,NA(),IFERROR(SUM('Cash Flows'!M129,'Cash Flows'!M99,'Cash Flows'!M90,'Cash Flows'!M55)/SUM('Cash Flows'!M33,'Cash Flows'!M24,'Cash Flows'!M98),NA()))","v":-0.29402499999999993},{"$f":"IF(K9>Hold,NA(),IFERROR(SUM('Cash Flows'!N129,'Cash Flows'!N99,'Cash Flows'!N90,'Cash Flows'!N55)/SUM('Cash Flows'!N33,'Cash Flows'!N24,'Cash Flows'!N98),NA()))","v":-0.29402499999999998},{"$f":"IF(L9>Hold,NA(),IFERROR(SUM('Cash Flows'!O129,'Cash Flows'!O99,'Cash Flows'!O90,'Cash Flows'!O55)/SUM('Cash Flows'!O33,'Cash Flows'!O24,'Cash Flows'!O98),NA()))","v":-0.29402499999999993},null,7,0,0,null,7,73,84,0,0,0]
["Debt Service Coverage Ratio",null,{"$f":"C10/C11","v":{"$error":"#N/A"}},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},null,8,0,0,null,8,85,96,0,0,0]
["LTV",null,{"$f":"IF(C9>Hold,NA(),IFERROR('Cash Flows'!F95/'Cash Flows'!F71,NA()))","v":0},{"$f":"IF(D9>Hold,NA(),IFERROR('Cash Flows'!G95/'Cash Flows'!G71,NA()))","v":0},{"$f":"IF(E9>Hold,NA(),IFERROR('Cash Flows'!H95/'Cash Flows'!H71,NA()))","v":0},{"$f":"IF(F9>Hold,NA(),IFERROR('Cash Flows'!I95/'Cash Flows'!I71,NA()))","v":0},{"$f":"IF(G9>Hold,NA(),IFERROR('Cash Flows'!J95/'Cash Flows'!J71,NA()))","v":0},{"$f":"IF(H9>Hold,NA(),IFERROR('Cash Flows'!K95/'Cash Flows'!K71,NA()))","v":0},{"$f":"IF(I9>Hold,NA(),IFERROR('Cash Flows'!L95/'Cash Flows'!L71,NA()))","v":0},{"$f":"IF(J9>Hold,NA(),IFERROR('Cash Flows'!M95/'Cash Flows'!M71,NA()))","v":0},{"$f":"IF(K9>Hold,NA(),IFERROR('Cash Flows'!N95/'Cash Flows'!N71,NA()))","v":0},{"$f":"IF(L9>Hold,NA(),IFERROR('Cash Flows'!O95/'Cash Flows'!O71,NA()))","v":0},null,9,0,0,null,9,97,108,0,0,0]
["Debt Yield",null,{"$f":"IF(C9>Hold,NA(),IFERROR('Cash Flows'!F67/'Cash Flows'!F95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(D9>Hold,NA(),IFERROR('Cash Flows'!G67/'Cash Flows'!G95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(E9>Hold,NA(),IFERROR('Cash Flows'!H67/'Cash Flows'!H95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(F9>Hold,NA(),IFERROR('Cash Flows'!I67/'Cash Flows'!I95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(G9>Hold,NA(),IFERROR('Cash Flows'!J67/'Cash Flows'!J95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(H9>Hold,NA(),IFERROR('Cash Flows'!K67/'Cash Flows'!K95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(I9>Hold,NA(),IFERROR('Cash Flows'!L67/'Cash Flows'!L95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(J9>Hold,NA(),IFERROR('Cash Flows'!M67/'Cash Flows'!M95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(K9>Hold,NA(),IFERROR('Cash Flows'!N67/'Cash Flows'!N95,NA()))","v":{"$error":"#N/A"}},{"$f":"IF(L9>Hold,NA(),IFERROR('Cash Flows'!O67/'Cash Flows'!O95,NA()))","v":{"$error":"#N/A"}},null,10,0,0,null,10,109,120,0,0,0]
[]
[]
["Project Level","Unleveraged",{"$f":"'Return Detail'!$C$17","v":"-"}]
[null,"Leveraged",{"$f":"'Return Detail'!$C$42","v":"-"}]
[null,"Leveraged After Tax",{"$f":"'Return Detail'!$C$91","v":"-"}]
["Individual Level","JV Partner",{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,"Developer",{"$f":"#REF!","v":{"$error":"#REF!"}}]
[]
[]
["I/O Loan Sizing"]
["Loan IO Term",{"$f":"Loan_IO_Term","v":12}]
["At Maturity",{"$f":"Loan_IO_AtMaturity","v":"Amortize Loan Balance"}]
[{"$f":"\"NOI in Year \"&Loan_IO_Year","v":"NOI in Year 2"},{"$f":"HLOOKUP(Loan_IO_Year,$C$9:$L$10,2,FALSE)","v":822908.71499999985}]
["DSCR",{"$f":"Loan_IO_DSCR","v":1.25}]
["Max DS based on NOI",{"$f":"B33/B34","v":658326.97199999983}]
["Max Loan Based on DSCR",{"$f":"PV(Loan_Amor_Rate/12,Loan_Amortization,-B35/12)","v":0}]
[{"$f":"\"Value based on \"&Loan_IO_Cap*100&\"% Cap\"","v":"Value based on 10% Cap"},{"$f":"IFERROR((B33/Loan_IO_Cap),0)","v":8229087.1499999985}]
[{"$f":"\"Max Loan based on \"&Loan_IO_LTV*100&\"% LTV\"","v":"Max Loan based on 75% LTV"},{"$f":"B37*Loan_IO_LTV","v":6171815.3624999989}]
["Amortizing Loan Amount (Rounded)",{"$f":"ROUND(MIN(B36,B38),-3)","v":0}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Project Level IRR Sensitivity"]
[null,null,null,null,1,2,3,4,5,6,7,8,9,10,11]
[null,"Net Operating Income",null,null,{"$f":"'Cash Flows'!F67","v":515106.375},{"$f":"'Cash Flows'!G67","v":822908.71499999985},{"$f":"'Cash Flows'!H67","v":847595.97644999996},{"$f":"'Cash Flows'!I67","v":873023.85574349994},{"$f":"'Cash Flows'!J67","v":899214.57141580491},{"$f":"'Cash Flows'!K67","v":926191.00855827914},{"$f":"'Cash Flows'!L67","v":953976.73881502752},{"$f":"'Cash Flows'!M67","v":982596.04097947839},{"$f":"'Cash Flows'!N67","v":1012073.9222088627},{"$f":"'Cash Flows'!O67","v":1042436.1398751285},{"$f":"'Cash Flows'!P67","v":1073709.2240713825}]
[null,"Refinance Proceeds",null,null,{"$f":"'Cash Flows'!F98","v":0},{"$f":"'Cash Flows'!G98","v":0},{"$f":"'Cash Flows'!H98","v":0},{"$f":"'Cash Flows'!I98","v":0},{"$f":"'Cash Flows'!J98","v":0},{"$f":"'Cash Flows'!K98","v":0},{"$f":"'Cash Flows'!L98","v":0},{"$f":"'Cash Flows'!M98","v":0},{"$f":"'Cash Flows'!N98","v":0},{"$f":"'Cash Flows'!O98","v":0},{"$f":"'Cash Flows'!P98","v":0}]
[null,"Less: Debt Service",null,null,{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((E$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((E$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((F$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((F$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((G$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((G$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((H$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((H$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((I$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((I$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((J$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((J$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((K$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((K$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((L$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((L$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((M$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((M$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((N$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((N$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0},{"$f":"SUM(IF('Loan Amortization'!$B$51:$B$170>((O$50-1)*12),IF('Loan Amortization'!$B$51:$B$170<=((O$50*12)),'Loan Amortization'!$I$51:$I$170,0),0))*-1","v":0}]
[null,"Add: Interest Paid from Budget",null,null,{"$f":"'Cash Flows'!F89*-1","v":0},{"$f":"'Cash Flows'!G89*-1","v":0},{"$f":"'Cash Flows'!H89*-1","v":0},{"$f":"'Cash Flows'!I89*-1","v":0},{"$f":"'Cash Flows'!J89*-1","v":0},{"$f":"'Cash Flows'!K89*-1","v":0},{"$f":"'Cash Flows'!L89*-1","v":0},{"$f":"'Cash Flows'!M89*-1","v":0},{"$f":"'Cash Flows'!N89*-1","v":0},{"$f":"'Cash Flows'!O89*-1","v":0},{"$f":"'Cash Flows'!P89*-1","v":0}]
[null,"Cash Flow After Debt Service",null,null,{"$f":"SUM(E51:E54)","v":515106.375},{"$f":"SUM(F51:F54)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285,1073709.2240713825]
[null,"Less: Mortgage Origination Fee",null,null,{"$f":"'Return Detail'!F28","v":0},{"$f":"'Return Detail'!G28","v":0},{"$f":"'Return Detail'!H28","v":0},{"$f":"'Return Detail'!I28","v":0},{"$f":"'Return Detail'!J28","v":0},{"$f":"'Return Detail'!K28","v":0},{"$f":"'Return Detail'!L28","v":0},{"$f":"'Return Detail'!M28","v":0},{"$f":"'Return Detail'!N28","v":0},{"$f":"'Return Detail'!O28","v":0},{"$f":"'Return Detail'!P28","v":0}]
[null,"Less: Capital Expenses",null,null,{"$f":"-'Cash Flows'!F112","v":0},{"$f":"-'Cash Flows'!G112","v":0},{"$f":"-'Cash Flows'!H112","v":0},{"$f":"-'Cash Flows'!I112","v":0},{"$f":"-'Cash Flows'!J112","v":0},{"$f":"-'Cash Flows'!K112","v":0},{"$f":"-'Cash Flows'!L112","v":0},{"$f":"-'Cash Flows'!M112","v":0},{"$f":"-'Cash Flows'!N112","v":0},{"$f":"-'Cash Flows'!O112","v":0},{"$f":"-'Cash Flows'!P112","v":0}]
[null,"Other Non-Regular Income",null,null,{"$f":"'Cash Flows'!F119","v":0},{"$f":"'Cash Flows'!G119","v":0},{"$f":"'Cash Flows'!H119","v":0},{"$f":"'Cash Flows'!I119","v":0},{"$f":"'Cash Flows'!J119","v":0},{"$f":"'Cash Flows'!K119","v":0},{"$f":"'Cash Flows'!L119","v":0},{"$f":"'Cash Flows'!M119","v":0},{"$f":"'Cash Flows'!N119","v":0},{"$f":"'Cash Flows'!O119","v":0},{"$f":"'Cash Flows'!P115","v":0}]
[null,"Distributable Cash Flow",null,null,{"$f":"SUM(E55:E58)","v":515106.375},{"$f":"SUM(F55:F58)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285,1073709.2240713825]
[]
[null,"Reversion Cash Flow",null,null,{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!G59/Exit_Rate,FV(Exit_Rate,E50,0,-Acquisition_Gross))","v":8229087.1499999985},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!H59/Exit_Rate,FV(Exit_Rate,F50,0,-Acquisition_Gross))","v":8475959.7644999996},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!I59/Exit_Rate,FV(Exit_Rate,G50,0,-Acquisition_Gross))","v":8730238.5574349985},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!J59/Exit_Rate,FV(Exit_Rate,H50,0,-Acquisition_Gross))","v":8992145.7141580489},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!K59/Exit_Rate,FV(Exit_Rate,I50,0,-Acquisition_Gross))","v":9261910.0855827909},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!L59/Exit_Rate,FV(Exit_Rate,J50,0,-Acquisition_Gross))","v":9539767.3881502748},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!M59/Exit_Rate,FV(Exit_Rate,K50,0,-Acquisition_Gross))","v":9825960.4097947832},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!N59/Exit_Rate,FV(Exit_Rate,L50,0,-Acquisition_Gross))","v":10120739.222088628},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!O59/Exit_Rate,FV(Exit_Rate,M50,0,-Acquisition_Gross))","v":10424361.398751285},{"$f":"IF(Disposition=\"Cap Rate\",'Cash Flows'!P59/Exit_Rate,FV(Exit_Rate,N50,0,-Acquisition_Gross))","v":10737092.240713825}]
[null,"Less: Cost of Sale",null,null,{"$f":"E61*Sale_Cost*-1","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Mortgage Exit Fee",null,null,{"$f":"E64*Loan_Exit_Fee","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Mortgage Balance",null,null,{"$f":"-VLOOKUP(E50*12,Amortization_Schedule_Monthly,8,FALSE)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Return of Reserve Funds",null,null,{"$f":"'Cash Flows'!F162","v":0},{"$f":"'Cash Flows'!G162","v":0},{"$f":"'Cash Flows'!H162","v":0},{"$f":"'Cash Flows'!I162","v":0},{"$f":"'Cash Flows'!J162","v":0},{"$f":"'Cash Flows'!K162","v":0},{"$f":"'Cash Flows'!L162","v":0},{"$f":"'Cash Flows'!M162","v":0},{"$f":"'Cash Flows'!N162","v":0},{"$f":"'Cash Flows'!O162","v":0}]
[null,"Reversion Balance",null,{"$f":"-Equity_Amount","v":0},{"$f":"SUM(E61:E65)","v":8229087.1499999985},{"$f":"SUM(F61:F65)","v":8475959.7644999996},8730238.5574349985,8992145.7141580489,9261910.0855827909,9539767.3881502748,9825960.4097947832,10120739.222088628,10424361.398751285,10737092.240713825]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"IRR",null,null,null,null,"NPV",null,null,null,null,"Average Cash on Cash"]
[null,null,"Periods",0,1,2,3,4,5,6,7,8,9,10,null,null,"Period","Project Level","Developer","JV Partner",null,"Period",{"$f":"\"Project Level at \"&ROUND(Equity_Rate*100,1)&\"%\"","v":"Project Level at 10%"},{"$f":"\"Developer at \"&ROUND(Equity_Rate*100,1)&\"%\"","v":"Developer at 10%"},{"$f":"\"JV Partner at \"&ROUND(Equity_Rate_JV*100,1)&\"%\"","v":"JV Partner at 0%"},null,"Period","Project Level","Developer","JV Partner"]
[null,null,1,{"$f":"-Equity_Amount","v":0},{"$f":"IF($C70<E$50,0,IF($C70=E$50,SUM(E$59,E$66),E$59))","v":8744193.5249999985},{"$f":"IF($C70<F$50,0,IF($C70=F$50,SUM(F$59,F$66),F$59))","v":0},0,0,0,0,0,0,0,0,null,null,1,{"$f":"IFERROR(IRR(D70:N70),\"-\")","v":"-"},{"$f":"O107","v":0},{"$f":"O106","v":0},null,1,{"$f":"SUM(D70,NPV(Equity_Rate,E70:N70))","v":7949266.840909089},{"$f":"P107","v":0},{"$f":"P106","v":0},null,1,{"$f":"IFERROR((SUM(E70:N70)/AA70)/Equity_Amount,NA())","v":{"$error":"#N/A"}},{"$f":"Q107","v":0},{"$f":"Q106","v":0}]
[null,null,2,0,{"$f":"IF($C71<E$50,0,IF($C71=E$50,SUM(E$59,E$66),E$59))","v":515106.375},9298868.4794999994,0,0,0,0,0,0,0,0,null,null,2,"-",{"$f":"O133","v":0},{"$f":"O132","v":0},null,2,8153293.7950413208,{"$f":"P133","v":0},{"$f":"P132","v":0},null,2,{"$error":"#N/A"},{"$f":"Q133","v":0},{"$f":"Q132","v":0}]
[null,null,3,0,515106.375,822908.71499999985,9577834.5338849984,0,0,0,0,0,0,0,null,null,3,"-",{"$f":"O160","v":0},{"$f":"O159","v":0},null,3,8344337.2157287728,{"$f":"P160","v":0},{"$f":"P159","v":0},null,3,{"$error":"#N/A"},{"$f":"Q160","v":0},{"$f":"Q159","v":0}]
[null,null,4,0,515106.375,822908.71499999985,847595.97644999996,9865169.5699015483,0,0,0,0,0,0,null,null,4,"-",{"$f":"O186","v":0},{"$f":"O185","v":0},null,4,8523223.3278270233,{"$f":"P186","v":0},{"$f":"P185","v":0},null,4,{"$error":"#N/A"},{"$f":"Q186","v":0},{"$f":"Q185","v":0}]
[null,null,5,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,10161124.656998595,0,0,0,0,0,null,null,5,"-",{"$f":"O212","v":0},{"$f":"O211","v":0},null,5,8690725.7782462947,{"$f":"P212","v":0},{"$f":"P211","v":0},null,5,{"$error":"#N/A"},{"$f":"Q212","v":0},{"$f":"Q211","v":0}]
[null,null,6,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,10465958.396708554,0,0,0,0,null,null,6,"-",{"$f":"O238","v":0},{"$f":"O237","v":0},null,6,8847568.9818207026,{"$f":"P238","v":0},{"$f":"P237","v":0},null,6,{"$error":"#N/A"},{"$f":"Q238","v":0},{"$f":"Q237","v":0}]
[null,null,7,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,10779937.148609811,0,0,0,null,null,7,"-",{"$f":"O264","v":0},{"$f":"O263","v":0},null,7,8994431.2542585582,{"$f":"P264","v":0},{"$f":"P263","v":0},null,7,{"$error":"#N/A"},{"$f":"Q264","v":0},{"$f":"Q263","v":0}]
[null,null,8,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,11103335.263068106,0,0,null,null,8,"-",{"$f":"O290","v":0},{"$f":"O289","v":0},null,8,9131947.7457230948,{"$f":"P290","v":0},{"$f":"P289","v":0},null,8,{"$error":"#N/A"},{"$f":"Q290","v":0},{"$f":"Q289","v":0}]
[null,null,9,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,11436435.320960147,0,null,null,9,"-",{"$f":"O316","v":0},{"$f":"O315","v":0},null,9,9260713.1877307985,{"$f":"P316","v":0},{"$f":"P315","v":0},null,9,{"$error":"#N/A"},{"$f":"Q316","v":0},{"$f":"Q315","v":0}]
[null,null,10,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,11779528.380588954,null,null,10,"-",{"$f":"O342","v":0},{"$f":"O341","v":0},null,10,9381284.4652471039,{"$f":"P342","v":0},{"$f":"P341","v":0},null,10,{"$error":"#N/A"},{"$f":"Q342","v":0},{"$f":"Q341","v":0}]

{"sheet":"Intro","index":1,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[[31,2,31,8]]}

{"sheet":"Assumptions","index":2,"n_rows":57,"n_cols":8,"rows_kept":57,"cut":false,"hidden":false,"merged":[[54,5,54,7],[55,5,55,7],[56,5,56,7],[1,1,1,7],[36,1,36,3],[3,1,3,7],[36,5,36,7],[50,1,50,3],[30,1,30,3]]}
[]
[null,{"$f":"$D$7","v":"New Student Housing Project"}]
[]
[null,"Project Assumptions"]
[]
[null,"Property Information",null,null,null,"Acquisition Assumptions"]
[null,"Property Name",null,"New Student Housing Project",null,"Project Type",null,"Acquisition"]
[null,"Location",null,null,null,{"$f":"IF(Project_Type=\"Acquisition\",\"Acquisition Cost\",\"Land Cost\")","v":"Acquisition Cost"},null,0]
[null,"Property Use",null,"Student Housing",null,{"$f":"IF(Project_Type=\"Acquisition\",\"Other Costs\",\"Hard Costs\")","v":"Other Costs"},null,0]
[null,"Total Beds",null,{"$f":"Unit_Mix[[#Totals],[Total Beds]]","v":100},null,{"$f":"IF(Project_Type=\"Acquisition\",\"-\",\"Soft Costs\")","v":"-"},null,0]
[null,"Analysis Year Begin",null,"2022-01-01",null,{"$f":"IF(Project_Type=\"Acquisition\",\"Acquisition Cost\",\"Development Cost\")","v":"Acquisition Cost"},null,{"$f":"SUM(H8:H10)","v":0}]
[null,"Annual Inflation Rate",null,0.03,null,"Due Diligence/Closing Costs",0,{"$f":"Acquisition_Gross*G12","v":0}]
[null,"Unit of Measure",null,"Square Feet",null,"Reserve Account Initial Deposits"]
[null,"Currency",null,"Dollar",null,"Operating Reserve Account ",null,0]
[null,null,null,null,null,"Cap Ex Reserve Account",null,0]
[null,null,null,null,null,"Replacement Reserves Account",null,0]
[null,null,null,null,null,{"$f":"IF(Project_Type=\"Acquisition\",\"Unleveraged Acquisition Cost\",\"Unleveraged Development Cost\")","v":"Unleveraged Acquisition Cost"},null,{"$f":"SUM(H11:H16)","v":0}]
[null,null,null,null,null,"Initial Loan Origination Fee",{"$f":"IF(Loan_IO_Approval=\"Yes\",Loan_IO_Fee,Loan_Amor_Fee)","v":0},{"$f":"Loan_Fee_Rate*Loan_Amount","v":0}]
[null,null,null,null,null,{"$f":"IF(Project_Type=\"Acquisition\",\"Leveraged Acquisition Cost\",\"Leveraged Development Cost\")","v":"Leveraged Acquisition Cost"},null,{"$f":"SUM(H17:H18)","v":0}]
[]
[]
[null,"Initial Capital Structure",null,null,null,"Tax Assumptions"]
[null,{"$f":"IF(Project_Type=\"Acquisition\",\"Debt: (LTV)\",\"Debt: (LTC)\")","v":"Debt: (LTV)"},0,{"$f":"C23*Acquisition_Unlevered","v":0},null,"Ordinary Income Marginal Tax Rate",null,0.35]
[null,"Equity",null,{"$f":"Acquisition_Levered-Loan_Amount","v":0},null,"Capital Gains Tax Rate",null,0.2]
[null,"Total",null,{"$f":"SUM(D23:D24)","v":0},null,"Cost Recovery Recapture Tax Rate",null,0.25]
[]
[null,"Desired Equity Return (Discount Rate)",null,0.1,null,"Cost Recovery Assumptions"]
[null,"Developer",0.1,{"$f":"Equity_Amount*Contribution_Developer","v":0},null,"Assessed Value of Land",null,{"$f":"1-Assessed_Value_Prop","v":1}]
[null,"JV Partner",{"$f":"1-C28","v":0.9},{"$f":"Equity_Amount*Contribution_JV","v":0},null,"Assessed Value of Improvements",null,{"$f":"IFERROR(1-(H8/Acquisition_Gross),0)","v":0}]
[null,"Total Equity",{"$f":"SUM(C28:C29)","v":1},{"$f":"SUM(D28:D29)","v":0},null,"Cost Recovery Method",null,"Straight Line"]
[null,{"$f":"IF(Contribution_Developer<1,\"Please refer to the Equity Investor Returns worksheet for waterfall information.\",\"\")","v":"Please refer to the Equity Investor Returns worksheet for waterfall information."},null,null,null,"Useful Life",null,27.5]
[null,null,null,null,null,"C.R. 1st & Last Years (11.5 months)",null,{"$f":"ROUND(H33/12*11.5,5)","v":3.4849999999999999E-2}]
[null,null,null,null,null,"C.R. Interim Years (12 Months)",null,{"$f":"ROUND(1/Useful_Life,5)","v":3.6360000000000003E-2}]
[]
[]
[null,"Debt Structure Assumptions"]
[null,{"$f":"IF(Project_Type=\"New Construction\",\"Development Loan\",\"Interest Only Loan\")","v":"Interest Only Loan"},null,null,null,"Amortizing Debt Service"]
[null,"Will there be an Interest Only Period?",null,"No",null,"Amortization Type",null,"American"]
[null,"Loan Amount",null,{"$f":"Loan_Amount","v":0},null,"Amortizing Loan Amount",null,{"$f":"IF(OR(Loan_IO_Approval=\"no\",Loan_IO_AtMaturity=\"Amortize Loan Balance\"),Loan_Amount,Settings!$B$39)","v":0}]
[null,"Interest Expense",null,"Included in Budget",null,"Term (Months)",null,0]
[null,"Interest Amount Included in Budget",null,100000,null,"Amortization (Months)",null,0]
[null,"Term (Months)",null,12,null,"Start Rate",null,0]
[null,"Rate",null,0.05,null,"Origination Fee",null,0]
[null,"Origination Fee",null,0,null,"Initial Interest Only Period","Yes",6]
[null,"Funding Status",null,"Fund Up",null,"Exit Fee",null,0]
[null,"Fully Funded by Month:",null,{"$f":"Loan_IO_Term","v":12},null,"Rate Type",null,"Fixed"]
[null,"Action at Maturity:",null,"Amortize Loan Balance",null,"Grow Rate",0,1]
[null,"Minimum DSCR",null,1.25]
[null,"Maximum LTV",null,0.75]
[null,"Based on Cap Rate of",{"$f":"Exit_Rate","v":0.1},{"$f":"ROUND(Loan_IO_Term/12,0)+1","v":2}]
[null,{"$f":"IFERROR(IF(Settings!B38=MIN(Settings!B36,Settings!B38),\"Loan is limited based on LTV.\",\"Loan is limited based on DSCR.\"),\"\")","v":"Loan is limited based on DSCR."}]
[]
[null,"Sale Assumptions"]
[null,"Year of Sale",null,10]
[null,"Terminal Value Calculation Method",null,"Cap Rate",null,"www.realpropmetrics.com"]
[null,"Cost of Sale",null,0,null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"IF(Disposition=\"Cap Rate\",\"Exit Cap Rate\",IF(Disposition=\"Annual Growth Rate\",\"Annual Growth Rate\",\"Sale Price\"))","v":"Exit Cap Rate"},null,0.1,null,{"$f":"TODAY()","v":"2022-02-23"}]

{"sheet":"Unit Mix","index":3,"n_rows":18,"n_cols":12,"rows_kept":18,"cut":false,"hidden":false,"merged":[[2,1,2,11],[4,1,4,11],[15,1,15,11],[16,1,16,11],[17,1,17,11]]}
[]
[]
[null,{"$f":"Project_Name","v":"New Student Housing Project"}]
[]
[null,"Unit Mix"]
[]
[]
[null,"Unit Type","Units","Beds ","Baths","Total Beds","%","Unit SF","Total SF","Monthly Rental Rate","$ PSF","Total Monthly Rent"]
[null,"Eff",10,1,1,{"$f":"Unit_Mix[[#This Row],[Units]]*Unit_Mix[[#This Row],[Beds ]]","v":10},{"$f":"Unit_Mix[[#This Row],[Total Beds]]/SUM(Unit_Mix[Total Beds])","v":0.1},650,{"$f":"Unit_Mix[[#This Row],[Unit SF]]*Unit_Mix[[#This Row],[Units]]","v":6500},850,{"$f":"Unit_Mix[[#This Row],[Total Monthly Rent]]/Unit_Mix[[#This Row],[Total SF]]","v":1.3076923076923077},{"$f":"Unit_Mix[[#This Row],[Monthly Rental Rate]]*Unit_Mix[[#This Row],[Total Beds]]","v":8500}]
[null,"A",15,2,1,{"$f":"Unit_Mix[[#This Row],[Units]]*Unit_Mix[[#This Row],[Beds ]]","v":30},{"$f":"Unit_Mix[[#This Row],[Total Beds]]/SUM(Unit_Mix[Total Beds])","v":0.3},900,{"$f":"Unit_Mix[[#This Row],[Unit SF]]*Unit_Mix[[#This Row],[Units]]","v":13500},775,{"$f":"Unit_Mix[[#This Row],[Total Monthly Rent]]/Unit_Mix[[#This Row],[Total SF]]","v":1.7222222222222223},{"$f":"Unit_Mix[[#This Row],[Monthly Rental Rate]]*Unit_Mix[[#This Row],[Total Beds]]","v":23250}]
[null,"B",15,4,4,{"$f":"Unit_Mix[[#This Row],[Units]]*Unit_Mix[[#This Row],[Beds ]]","v":60},{"$f":"Unit_Mix[[#This Row],[Total Beds]]/SUM(Unit_Mix[Total Beds])","v":0.6},1250,{"$f":"Unit_Mix[[#This Row],[Unit SF]]*Unit_Mix[[#This Row],[Units]]","v":18750},675,{"$f":"Unit_Mix[[#This Row],[Total Monthly Rent]]/Unit_Mix[[#This Row],[Total SF]]","v":2.16},{"$f":"Unit_Mix[[#This Row],[Monthly Rental Rate]]*Unit_Mix[[#This Row],[Total Beds]]","v":40500}]
[null,"Total",{"$f":"SUBTOTAL(109,Unit_Mix[Units])","v":40},null,null,{"$f":"SUBTOTAL(109,Unit_Mix[Total Beds])","v":100},{"$f":"SUBTOTAL(109,Unit_Mix[%])","v":1},{"$f":"IFERROR(SUMPRODUCT(Unit_Mix[Total Beds],Unit_Mix[Unit SF])/Unit_Mix[[#Totals],[Total Beds]],0)","v":1085},{"$f":"SUBTOTAL(109,Unit_Mix[Total SF])","v":38750},{"$f":"IFERROR(Unit_Mix[[#Totals],[Total Monthly Rent]]/Unit_Mix[[#Totals],[Total Beds]],0)","v":722.5},{"$f":"IFERROR(Unit_Mix[[#Totals],[Total Monthly Rent]]/Unit_Mix[[#Totals],[Total SF]],\"-\")","v":1.8645161290322581},{"$f":"SUBTOTAL(109,Unit_Mix[Total Monthly Rent])","v":72250}]
[null," "]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]

{"sheet":"Lease Up Schedule","index":4,"n_rows":157,"n_cols":8,"rows_kept":157,"cut":false,"hidden":false,"merged":[[34,6,34,7],[2,1,2,7],[12,1,12,7],[13,1,13,7],[15,1,15,7],[32,6,32,7],[33,6,33,7]]}
[]
[]
[null,"Lease-Up Schedule"]
[]
[null,"Total Units",null,{"$f":"SF_Total","v":100}]
[null,"Beginning Occupancy",null,0]
[null,"Stabilized Occupancy",null,0.95]
[null,"Stabilized Units",null,{"$f":"ROUND(D5*D7,0)","v":95}]
[null,"Begin Occupying in Month",null,1]
[null,"Units Pre-Leased",null,0]
[null,"Units Leased per Month",null,10]
[]
[null,{"$f":"\"Project leases in \"&COUNTIF($E$38:$E$157,\">0\")&\" months.\"","v":"Project leases in 10 months."}]
[null,{"$f":"\"Stabilization is achieved in month \"&MATCH(D8,$F$38:$F$157,0)&\".\"","v":"Stabilization is achieved in month 10."}]
[]
[null,"Annual Summary"]
[null,"Period","Dates","Leased Units (BOY)","Leased in Period","Leased Units (EOY)","Average Occupancy","Average Vacancy"]
[null,1,{"$f":"RPMDateSpan(B18,1)","v":"Jan 22 - Dec 22"},{"$f":"VLOOKUP(((B18-1)*12)+1,$B$37:$H$157,3,FALSE)","v":0},{"$f":"SUM(OFFSET($E$38:$E$49,(B18-1)*12,0))","v":95},{"$f":"MAX(OFFSET($F$38:$F$49,(B18-1)*12,0))","v":95},{"$f":"AVERAGE(OFFSET($G$38:$G$49,(B18-1)*12,0))","v":0.61250000000000004},{"$f":"1-G18","v":0.38749999999999996}]
[null,2,{"$f":"RPMDateSpan(B19,1)","v":"Jan 23 - Dec 23"},{"$f":"VLOOKUP(((B19-1)*12)+1,$B$37:$H$157,3,FALSE)","v":95},0,95,0.94999999999999984,{"$f":"1-G19","v":5.0000000000000155E-2}]
[null,3,"Jan 24 - Dec 24",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[null,4,"Jan 25 - Dec 25",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[null,5,"Jan 26 - Dec 26",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[null,6,"Jan 27 - Dec 27",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[null,7,"Jan 28 - Dec 28",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[null,8,"Jan 29 - Dec 29",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[null,9,"Jan 30 - Dec 30",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[null,10,"Jan 31 - Dec 31",95,0,95,0.94999999999999984,5.0000000000000155E-2]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,"www.realpropmetrics.com"]
[null,null,null,null,null,null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,null,null,null,null,null,{"$f":"TODAY()","v":"2022-02-23"}]
[]
[null,"Month","Date","Begin","Leased in Period","End","Occupancy","Vacancy"]
[null,1,{"$f":"RPMDateSpan(B38,3)","v":"Jan 2022"},{"$f":"ROUND(D5*D6,0)","v":0},{"$f":"IF(B38<$D$9,0,MIN($D$11,$D$8-D38))+IF(B38=$D$9,$D$10,0)","v":10},{"$f":"SUM(D38:E38)","v":10},{"$f":"F38/SF_Total","v":0.1},{"$f":"1-G38","v":0.9}]
[null,2,{"$f":"RPMDateSpan(B39,3)","v":"Feb 2022"},{"$f":"F38","v":10},10,{"$f":"SUM(D39:E39)","v":20},0.2,{"$f":"1-G39","v":0.8}]
[null,3,"Mar 2022",{"$f":"F39","v":20},10,30,0.3,0.7]
[null,4,"Apr 2022",30,10,40,0.4,0.6]
[null,5,"May 2022",40,10,50,0.5,0.5]
[null,6,"Jun 2022",50,10,60,0.6,0.4]
[null,7,"Jul 2022",60,10,70,0.7,0.30000000000000004]
[null,8,"Aug 2022",70,10,80,0.8,0.19999999999999996]
[null,9,"Sep 2022",80,10,90,0.9,9.9999999999999978E-2]
[null,10,"Oct 2022",90,5,95,0.95,5.0000000000000044E-2]
[null,11,"Nov 2022",95,0,95,0.95,5.0000000000000044E-2]
[null,12,"Dec 2022",95,0,95,0.95,5.0000000000000044E-2]
[null,13,"Jan 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,14,"Feb 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,15,"Mar 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,16,"Apr 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,17,"May 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,18,"Jun 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,19,"Jul 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,20,"Aug 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,21,"Sep 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,22,"Oct 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,23,"Nov 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,24,"Dec 2023",95,0,95,0.95,5.0000000000000044E-2]
[null,25,"Jan 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,26,"Feb 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,27,"Mar 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,28,"Apr 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,29,"May 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,30,"Jun 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,31,"Jul 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,32,"Aug 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,33,"Sep 2024",95,{"$f":"IF(B70<$D$9,0,MIN($D$11,$D$8-D70))+IF(B70=$D$9,$D$10,0)","v":0},95,{"$f":"F70/SF_Total","v":0.95},5.0000000000000044E-2]
[null,34,"Oct 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,35,"Nov 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,36,"Dec 2024",95,0,95,0.95,5.0000000000000044E-2]
[null,37,"Jan 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,38,"Feb 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,39,"Mar 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,40,"Apr 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,41,"May 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,42,"Jun 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,43,"Jul 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,44,"Aug 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,45,"Sep 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,46,"Oct 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,47,"Nov 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,48,"Dec 2025",95,0,95,0.95,5.0000000000000044E-2]
[null,49,"Jan 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,50,"Feb 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,51,"Mar 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,52,"Apr 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,53,"May 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,54,"Jun 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,55,"Jul 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,56,"Aug 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,57,"Sep 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,58,"Oct 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,59,"Nov 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,60,"Dec 2026",95,0,95,0.95,5.0000000000000044E-2]
[null,61,"Jan 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,62,"Feb 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,63,"Mar 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,64,"Apr 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,65,"May 2027",95,{"$f":"IF(B102<$D$9,0,MIN($D$11,$D$8-D102))+IF(B102=$D$9,$D$10,0)","v":0},95,{"$f":"F102/SF_Total","v":0.95},5.0000000000000044E-2]
[null,66,{"$f":"RPMDateSpan(B103,3)","v":"Jun 2027"},95,0,{"$f":"SUM(D103:E103)","v":95},0.95,{"$f":"1-G103","v":5.0000000000000044E-2}]
[null,67,"Jul 2027",{"$f":"F103","v":95},0,95,0.95,5.0000000000000044E-2]
[null,68,"Aug 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,69,"Sep 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,70,"Oct 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,71,"Nov 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,72,"Dec 2027",95,0,95,0.95,5.0000000000000044E-2]
[null,73,"Jan 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,74,"Feb 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,75,"Mar 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,76,"Apr 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,77,"May 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,78,"Jun 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,79,"Jul 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,80,"Aug 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,81,"Sep 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,82,"Oct 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,83,"Nov 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,84,"Dec 2028",95,0,95,0.95,5.0000000000000044E-2]
[null,85,"Jan 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,86,"Feb 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,87,"Mar 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,88,"Apr 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,89,"May 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,90,"Jun 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,91,"Jul 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,92,"Aug 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,93,"Sep 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,94,"Oct 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,95,"Nov 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,96,"Dec 2029",95,0,95,0.95,5.0000000000000044E-2]
[null,97,"Jan 2030",95,{"$f":"IF(B134<$D$9,0,MIN($D$11,$D$8-D134))+IF(B134=$D$9,$D$10,0)","v":0},95,{"$f":"F134/SF_Total","v":0.95},5.0000000000000044E-2]
[null,98,"Feb 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,99,"Mar 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,100,"Apr 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,101,"May 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,102,"Jun 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,103,"Jul 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,104,"Aug 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,105,"Sep 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,106,"Oct 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,107,"Nov 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,108,"Dec 2030",95,0,95,0.95,5.0000000000000044E-2]
[null,109,"Jan 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,110,"Feb 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,111,"Mar 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,112,"Apr 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,113,"May 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,114,"Jun 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,115,"Jul 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,116,"Aug 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,117,"Sep 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,118,"Oct 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,119,"Nov 2031",95,0,95,0.95,5.0000000000000044E-2]
[null,120,"Dec 2031",95,0,95,0.95,5.0000000000000044E-2]

{"sheet":"Cash Flows","index":5,"n_rows":168,"n_cols":16,"rows_kept":168,"cut":false,"hidden":false,"merged":[[165,1,165,15],[166,1,166,15],[167,1,167,15],[74,1,74,15],[75,1,75,15],[76,1,76,15]]}
[]
[]
[]
[]
[null,"Schedule of Prospective Cash Flows"]
[]
[null,"Period",null,null,null,1,2,3,4,5,6,7,8,9,10,11]
[null,null,null,null,null,{"$f":"RPMDateSpan(F7,1)","v":"Jan 22 - Dec 22"},{"$f":"RPMDateSpan(G7,1)","v":"Jan 23 - Dec 23"},"Jan 24 - Dec 24","Jan 25 - Dec 25","Jan 26 - Dec 26","Jan 27 - Dec 27","Jan 28 - Dec 28","Jan 29 - Dec 29","Jan 30 - Dec 30","Jan 31 - Dec 31","Jan 32 - Dec 32"]
[]
[null,"Operating Income",null,null,"Inflation",null,{"$f":"Inflation","v":0.03},{"$f":"G10","v":0.03},{"$f":"H10","v":0.03},{"$f":"I10","v":0.03},0.03,0.03,0.03,0.03,0.03,0.03]
[]
[null,"Base Rental Revenue",null,null,null,{"$f":"SUM(Unit_Mix[Total Monthly Rent])*12","v":867000},{"$f":"IFERROR(RPMGrow($E12,F12,G$10),\"Please Enable Macros\")","v":893010},{"$f":"IFERROR(RPMGrow($E12,G12,H$10),\"Please Enable Macros\")","v":919800.3},{"$f":"IFERROR(RPMGrow($E12,H12,I$10),\"Please Enable Macros\")","v":947394.30900000012},{"$f":"IFERROR(RPMGrow($E12,I12,J$10),\"Please Enable Macros\")","v":975816.13827000011},{"$f":"IFERROR(RPMGrow($E12,J12,K$10),\"Please Enable Macros\")","v":1005090.6224181001},{"$f":"IFERROR(RPMGrow($E12,K12,L$10),\"Please Enable Macros\")","v":1035243.3410906432},{"$f":"IFERROR(RPMGrow($E12,L12,M$10),\"Please Enable Macros\")","v":1066300.6413233625},{"$f":"IFERROR(RPMGrow($E12,M12,N$10),\"Please Enable Macros\")","v":1098289.6605630633},{"$f":"IFERROR(RPMGrow($E12,N12,O$10),\"Please Enable Macros\")","v":1131238.3503799553},{"$f":"IFERROR(RPMGrow($E12,O12,P$10),\"Please Enable Macros\")","v":1165175.5008913539}]
[null,"Rental $/Month",null,null,null,{"$f":"F12/12","v":72250},{"$f":"G12/12","v":74417.5},76650.025000000009,78949.525750000015,81318.011522500005,83757.551868175011,86270.278424220262,88858.386776946878,91524.138380255274,94269.862531662933,97097.958407612823]
[null,"Monthly $ PSF",null,null,null,{"$f":"F12/Unit_Mix[[#Totals],[Total SF]]/12","v":1.8645161290322581},{"$f":"G12/Unit_Mix[[#Totals],[Total SF]]/12","v":1.9204516129032259},{"$f":"H12/Unit_Mix[[#Totals],[Total SF]]/12","v":1.9780651612903226},{"$f":"I12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.0374071161290326},{"$f":"J12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.0985293296129037},{"$f":"K12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.1614852095012904},{"$f":"L12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.2263297657863297},{"$f":"M12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.2931196587599194},{"$f":"N12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.361913248522717},{"$f":"O12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.4327706459783984},{"$f":"P12/Unit_Mix[[#Totals],[Total SF]]/12","v":2.5057537653577504}]
[]
[null,"Other Potential Gross Revenue"]
[null,"Less: Concessions",null,null,null,0,{"$f":"IFERROR(RPMGrow($E17,F17,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,G17,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,H17,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,I17,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,J17,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,K17,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,L17,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,M17,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,N17,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E17,O17,P$10),\"Please Enable Macros\")","v":0}]
[null,"Storage Income",null,null,null,0,{"$f":"IFERROR(RPMGrow($E18,F18,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,G18,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,H18,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,I18,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,J18,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,K18,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,L18,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,M18,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,N18,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E18,O18,P$10),\"Please Enable Macros\")","v":0}]
[null,"Laundry Income",null,null,null,0,{"$f":"IFERROR(RPMGrow($E19,F19,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,G19,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,H19,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,I19,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,J19,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,K19,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,L19,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,M19,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,N19,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E19,O19,P$10),\"Please Enable Macros\")","v":0}]
[null,"Miscellaneous",null,null,null,0,{"$f":"IFERROR(RPMGrow($E20,F20,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,G20,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,H20,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,I20,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,J20,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,K20,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,L20,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,M20,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,N20,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E20,O20,P$10),\"Please Enable Macros\")","v":0}]
[null,"User Defined Income",null,null,null,0,{"$f":"IFERROR(RPMGrow($E21,F21,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,G21,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,H21,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,I21,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,J21,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,K21,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,L21,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,M21,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,N21,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E21,O21,P$10),\"Please Enable Macros\")","v":0}]
[null,"Total Other Potential Gross Revenue",null,null,null,{"$f":"SUM(F17:F21)","v":0},{"$f":"SUM(G17:G21)","v":0},0,0,0,0,0,0,0,0,0]
[null,null,null," "]
[null,"Total Potential Gross Revenue",null,null,null,{"$f":"SUM(F12,F22)","v":867000},{"$f":"SUM(G12,G22)","v":893010},919800.3,947394.30900000012,975816.13827000011,1005090.6224181001,1035243.3410906432,1066300.6413233625,1098289.6605630633,1131238.3503799553,1165175.5008913539]
[]
[null,"General Vacancy Rate",null,null,null,{"$f":"VLOOKUP(F$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":0.38749999999999996},{"$f":"VLOOKUP(G$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(H$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(I$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(J$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(K$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(L$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(M$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(N$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"VLOOKUP(O$7,'Lease Up Schedule'!$B$17:$H$27,7,FALSE)","v":5.0000000000000155E-2},{"$f":"O26","v":5.0000000000000155E-2}]
[null,"Vacancy & Collection Loss",null,null,null,{"$f":"-F24*F26","v":-335962.49999999994},{"$f":"-G24*G26","v":-44650.500000000138},-45990.015000000145,-47369.715450000156,-48790.806913500157,-50254.531120905165,-51762.167054532321,-53315.032066168293,-54914.483028153336,-56561.917518997936,-58258.775044567876]
[]
[null,"Other Income"]
[null,"Miscellaneous",null,null,null,0,{"$f":"IFERROR(RPMGrow($E30,F30,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,G30,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,H30,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,I30,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,J30,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,K30,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,L30,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,M30,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,N30,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E30,O30,P$10),\"Please Enable Macros\")","v":0}]
[null,"User Defined Income",null,null,null,0,{"$f":"IFERROR(RPMGrow($E31,F31,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,G31,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,H31,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,I31,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,J31,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,K31,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,L31,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,M31,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,N31,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E31,O31,P$10),\"Please Enable Macros\")","v":0}]
[null,"User Defined Income",null,null,null,0,{"$f":"IFERROR(RPMGrow($E32,F32,G$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,G32,H$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,H32,I$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,I32,J$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,J32,K$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,K32,L$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,L32,M$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,M32,N$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,N32,O$10),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E32,O32,P$10),\"Please Enable Macros\")","v":0}]
[null,"Total Other Income",null,null,null,{"$f":"SUM(F30:F32)","v":0},0,0,0,0,0,0,0,0,0,0]
[]
[null,"Effective Gross Income",null,null,null,{"$f":"SUM(F24,F27,F33)","v":531037.5},{"$f":"SUM(G24,G27,G33)","v":848359.49999999988},873810.28499999992,900024.59354999999,927025.33135649993,954836.09129719494,983481.17403611087,1012985.6092571942,1043375.17753491,1074676.4328609572,1106916.7258467861]
[null,"Effective $/Month",null,null,null,{"$f":"F35/12","v":44253.125},70696.624999999985,72817.523749999993,75002.049462499999,77252.110946374989,79569.67427476625,81956.764503009239,84415.467438099513,86947.931461242508,89556.369405079764,92243.060487232171]
[null,"Eff. Monthly $/Unit",null,null,null,{"$f":"F35/Unit_Mix[[#Totals],[Total SF]]/12","v":1.1420161290322581},{"$f":"G35/Unit_Mix[[#Totals],[Total SF]]/12","v":1.8244290322580643},{"$f":"H35/Unit_Mix[[#Totals],[Total SF]]/12","v":1.8791619032258062},{"$f":"I35/Unit_Mix[[#Totals],[Total SF]]/12","v":1.9355367603225806},{"$f":"J35/Unit_Mix[[#Totals],[Total SF]]/12","v":1.993602863132258},{"$f":"K35/Unit_Mix[[#Totals],[Total SF]]/12","v":2.0534109490262256},{"$f":"L35/Unit_Mix[[#Totals],[Total SF]]/12","v":2.1150132774970127},{"$f":"M35/Unit_Mix[[#Totals],[Total SF]]/12","v":2.1784636758219231},{"$f":"N35/Unit_Mix[[#Totals],[Total SF]]/12","v":2.2438175860965806},{"$f":"O35/Unit_Mix[[#Totals],[Total SF]]/12","v":2.311132113679478},{"$f":"P35/Unit_Mix[[#Totals],[Total SF]]/12","v":2.3804660770898622}]
[]
[null,"Operating Expenses",null,null,"Inflation",null,{"$f":"Inflation","v":0.03},{"$f":"G39","v":0.03},0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03]
[]
[null,"Property Management Fee",null,0.03,null,{"$f":"$D$41*F$35","v":15931.125},25450.784999999996,26214.308549999998,27000.737806499998,27810.759940694996,28645.082738915848,29504.435221083324,30389.568277715825,31301.2553260473,32240.292985828717,33207.50177540358]
[null,"Ad Valorem Taxes",null,null,null,0,{"$f":"IFERROR(RPMGrow($E42,F42,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,G42,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,H42,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,I42,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,J42,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,K42,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,L42,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,M42,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,N42,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E42,O42,P$39),\"Please Enable Macros\")","v":0}]
[null,"Insurance",null,null,null,0,{"$f":"IFERROR(RPMGrow($E43,F43,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,G43,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,H43,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,I43,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,J43,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,K43,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,L43,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,M43,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,N43,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E43,O43,P$39),\"Please Enable Macros\")","v":0}]
[null,"Utilities",null,null,null,0,{"$f":"IFERROR(RPMGrow($E44,F44,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,G44,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,H44,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,I44,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,J44,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,K44,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,L44,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,M44,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,N44,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E44,O44,P$39),\"Please Enable Macros\")","v":0}]
[null,"Repairs & Maintenance",null,null,null,0,{"$f":"IFERROR(RPMGrow($E45,F45,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,G45,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,H45,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,I45,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,J45,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,K45,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,L45,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,M45,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,N45,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E45,O45,P$39),\"Please Enable Macros\")","v":0}]
[null,"Cleaning & Garbage Removal",null,null,null,0,{"$f":"IFERROR(RPMGrow($E46,F46,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,G46,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,H46,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,I46,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,J46,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,K46,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,L46,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,M46,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,N46,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E46,O46,P$39),\"Please Enable Macros\")","v":0}]
[null,"Contract Services",null,null,null,0,{"$f":"IFERROR(RPMGrow($E47,F47,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,G47,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,H47,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,I47,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,J47,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,K47,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,L47,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,M47,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,N47,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E47,O47,P$39),\"Please Enable Macros\")","v":0}]
[null,"General & Administrative",null,null,null,0,{"$f":"IFERROR(RPMGrow($E48,F48,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,G48,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,H48,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,I48,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,J48,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,K48,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,L48,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,M48,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,N48,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E48,O48,P$39),\"Please Enable Macros\")","v":0}]
[null,"Turnover",null,null,null,0,{"$f":"IFERROR(RPMGrow($E49,F49,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,G49,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,H49,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,I49,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,J49,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,K49,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,L49,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,M49,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,N49,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E49,O49,P$39),\"Please Enable Macros\")","v":0}]
[null,"Marketing",null,null,null,0,{"$f":"IFERROR(RPMGrow($E50,F50,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,G50,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,H50,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,I50,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,J50,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,K50,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,L50,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,M50,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,N50,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E50,O50,P$39),\"Please Enable Macros\")","v":0}]
[null,"Payroll",null,null,null,0,{"$f":"IFERROR(RPMGrow($E51,F51,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,G51,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,H51,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,I51,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,J51,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,K51,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,L51,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,M51,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,N51,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E51,O51,P$39),\"Please Enable Macros\")","v":0}]
[null,"Other",null,null,null,0,{"$f":"IFERROR(RPMGrow($E52,F52,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,G52,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,H52,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,I52,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,J52,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,K52,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,L52,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,M52,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,N52,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E52,O52,P$39),\"Please Enable Macros\")","v":0}]
[null,"Miscellaneous",null,null,null,0,{"$f":"IFERROR(RPMGrow($E53,F53,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,G53,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,H53,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,I53,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,J53,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,K53,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,L53,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,M53,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,N53,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E53,O53,P$39),\"Please Enable Macros\")","v":0}]
[null,"User Defined",null,null,null,0,{"$f":"IFERROR(RPMGrow($E54,F54,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,G54,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,H54,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,I54,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,J54,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,K54,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,L54,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,M54,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,N54,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E54,O54,P$39),\"Please Enable Macros\")","v":0}]
[null,"Total Operating Expenses",null,null,null,{"$f":"SUM(F41:F54)","v":15931.125},{"$f":"SUM(G41:G54)","v":25450.784999999996},26214.308549999998,27000.737806499998,27810.759940694996,28645.082738915848,29504.435221083324,30389.568277715825,31301.2553260473,32240.292985828717,33207.50177540358]
[null,"Expenses /Month",null,null,null,{"$f":"F55/12","v":1327.59375},{"$f":"G55/12","v":2120.8987499999998},2184.5257124999998,2250.0614838749998,2317.5633283912498,2387.0902282429875,2458.7029350902772,2532.4640231429853,2608.4379438372748,2686.6910821523929,2767.291814616965]
[null,"Expenses $/Unit Monthly",null,null,null,{"$f":"F55/Unit_Mix[[#Totals],[Total SF]]/12","v":3.4260483870967744E-2},{"$f":"G55/Unit_Mix[[#Totals],[Total SF]]/12","v":5.4732870967741931E-2},{"$f":"H55/Unit_Mix[[#Totals],[Total SF]]/12","v":5.6374857096774193E-2},{"$f":"I55/Unit_Mix[[#Totals],[Total SF]]/12","v":5.8066102809677417E-2},{"$f":"J55/Unit_Mix[[#Totals],[Total SF]]/12","v":5.9808085893967737E-2},{"$f":"K55/Unit_Mix[[#Totals],[Total SF]]/12","v":6.1602328470786775E-2},{"$f":"L55/Unit_Mix[[#Totals],[Total SF]]/12","v":6.3450398324910381E-2},{"$f":"M55/Unit_Mix[[#Totals],[Total SF]]/12","v":6.5353910274657687E-2},{"$f":"N55/Unit_Mix[[#Totals],[Total SF]]/12","v":6.7314527582897424E-2},{"$f":"O55/Unit_Mix[[#Totals],[Total SF]]/12","v":6.9333963410384336E-2},{"$f":"P55/Unit_Mix[[#Totals],[Total SF]]/12","v":7.141398231269587E-2}]
[]
[null,"NOI Before Reserves",null,null,null,{"$f":"F35-F55","v":515106.375},{"$f":"G35-G55","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285,1073709.2240713825]
[]
[null,"Operating Reserves Contributions"]
[null,"Operating Deficit Reserve",null,null,null,0,{"$f":"IFERROR(RPMGrow($E62,F62,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,G62,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,H62,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,I62,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,J62,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,K62,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,L62,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,M62,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,N62,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E62,O62,P$39),\"Please Enable Macros\")","v":0}]
[null,"Cap Ex Reserves",null,null,null,0,{"$f":"IFERROR(RPMGrow($E63,F63,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,G63,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,H63,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,I63,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,J63,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,K63,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,L63,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,M63,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,N63,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E63,O63,P$39),\"Please Enable Macros\")","v":0}]
[null,"Replacement Reserves",null,null,null,0,{"$f":"IFERROR(RPMGrow($E64,F64,G$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,G64,H$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,H64,I$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,I64,J$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,J64,K$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,K64,L$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,L64,M$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,M64,N$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,N64,O$39),\"Please Enable Macros\")","v":0},{"$f":"IFERROR(RPMGrow($E64,O64,P$39),\"Please Enable Macros\")","v":0}]
[null,"Total Reserves",null,null,null,{"$f":"SUM(F62:F64)","v":0},{"$f":"SUM(G62:G64)","v":0},0,0,0,0,0,0,0,0,0]
[]
[null,"Net Operating Income",null,null,null,{"$f":"F59-F65","v":515106.375},{"$f":"G59-G65","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285,1073709.2240713825]
[null,"NOI/Month",null,null,null,{"$f":"F67/12","v":42925.53125},{"$f":"G67/12","v":68575.726249999992},70632.998037500001,72751.987978624995,74934.547617983742,77182.584046523261,79498.061567918965,81883.003414956533,84339.493517405223,86869.678322927371,89475.768672615217]
[null,{"$f":"IF(Property_Use=\"Commercial\",\"NOI $ PSF\",\"NOI $ / Unit\")","v":"NOI $ / Unit"},null,null,null,{"$f":"F67/Unit_Mix[[#Totals],[Total SF]]/12","v":1.1077556451612904},{"$f":"G67/Unit_Mix[[#Totals],[Total SF]]/12","v":1.7696961612903221},{"$f":"H67/Unit_Mix[[#Totals],[Total SF]]/12","v":1.8227870461290321},{"$f":"I67/Unit_Mix[[#Totals],[Total SF]]/12","v":1.8774706575129032},{"$f":"J67/Unit_Mix[[#Totals],[Total SF]]/12","v":1.9337947772382902},{"$f":"K67/Unit_Mix[[#Totals],[Total SF]]/12","v":1.9918086205554391},{"$f":"L67/Unit_Mix[[#Totals],[Total SF]]/12","v":2.0515628791721023},{"$f":"M67/Unit_Mix[[#Totals],[Total SF]]/12","v":2.1131097655472653},{"$f":"N67/Unit_Mix[[#Totals],[Total SF]]/12","v":2.1765030585136835},{"$f":"O67/Unit_Mix[[#Totals],[Total SF]]/12","v":2.2417981502690938},{"$f":"P67/Unit_Mix[[#Totals],[Total SF]]/12","v":2.3090520947771669}]
[null,{"$f":"IF(Project_Type=\"Acquisition\",\"Cap Rate based on Acquisition Cost\",\"Cap Rate based on Development Cost\")","v":"Cap Rate based on Acquisition Cost"},null,null,null,{"$f":"IFERROR(F67/Acquisition_Gross,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-","-"]
[null,{"$f":"IF(Disposition=\"Cap Rate\",\"Value based on \"&ROUND(Exit_Rate*100,2)&\"% Exit Cap Rate\",\"Value based on \"&ROUND(Exit_Rate*100,2)&\"% Annual Growth Rate\")","v":"Value based on 10% Exit Cap Rate"},null,null,null,{"$f":"IFERROR(IF(F$7<=Hold,IF(Disposition=\"Cap Rate\",G$67/Exit_Rate,FV(Exit_Rate,F$7,0,-Acquisition_Gross)),0),\"-\")","v":8229087.1499999985},8475959.7644999996,8730238.5574349985,8992145.7141580489,9261910.0855827909,9539767.3881502748,9825960.4097947832,10120739.222088628,10424361.398751285,10737092.240713825,"-"]
[]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]
[]
[null,"Schedule of Prospective Cash Flows"]
[]
[null,"Period",null,null,null,1,2,3,4,5,6,7,8,9,10]
[null,null,null,null,null,{"$f":"RPMDateSpan(F81,1)","v":"Jan 22 - Dec 22"},{"$f":"RPMDateSpan(G81,1)","v":"Jan 23 - Dec 23"},"Jan 24 - Dec 24","Jan 25 - Dec 25","Jan 26 - Dec 26","Jan 27 - Dec 27","Jan 28 - Dec 28","Jan 29 - Dec 29","Jan 30 - Dec 30","Jan 31 - Dec 31"]
[]
[null,"Net Operating Income",null,null,null,{"$f":"F67","v":515106.375},{"$f":"G67","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[]
[null,"Debt Service"]
[null,"Interest",null,null,null,{"$f":"VLOOKUP(F$7,Amortization_Schedule_Annual,6,FALSE)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Principal",null,null,null,{"$f":"VLOOKUP(F$7,Amortization_Schedule_Annual,7,FALSE)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Interest in Development Budget",null,null,null,{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(F$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(G$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(H$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(I$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(J$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(K$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(L$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(M$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(N$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0},{"$f":"IF(Loan_IO_Interest=\"Pass to Cash Flow\",0,VLOOKUP(O$7,'Loan Amortization'!$B$13:$O$24,13,FALSE))","v":0}]
[null,"Total Debt Service",null,null,null,{"$f":"SUM(F87:F89)","v":0},{"$f":"SUM(G87:G89)","v":0},0,0,0,0,0,0,0,0]
[null,"DSCR",null,null,null,{"$f":"IFERROR(F67/F90,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[null,"LTV",null,null,null,{"$f":"IFERROR(F95/F71,\"-\")","v":0},0,0,0,0,0,0,0,0,0]
[null,"Break Even Occupancy",null,null,null,{"$f":"IFERROR(SUM(F55,F90,F99)/SUM(F24,F33),\"-\")","v":1.8374999999999999E-2},2.8499999999999994E-2,2.8499999999999998E-2,2.8499999999999994E-2,2.8499999999999994E-2,2.8499999999999994E-2,2.8499999999999994E-2,2.8499999999999994E-2,2.8499999999999994E-2,2.8499999999999994E-2]
[null,"Debt Yield",null,null,null,{"$f":"IFERROR(F67/F95,\"-\")","v":"-"},{"$f":"IFERROR(G67/G95,\"-\")","v":"-"},"-","-","-","-","-","-","-","-"]
[null,"Mortgage Balance",null,null,null,{"$f":"IF(F7<=Hold,VLOOKUP(F$7,Amortization_Schedule_Annual,8,FALSE),0)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Equity ",null,null,null,{"$f":"IFERROR(IF(F$7<=Hold,F71-F95,0),\"-\")","v":8229087.1499999985},8475959.7644999996,8730238.5574349985,8992145.7141580489,9261910.0855827909,9539767.3881502748,9825960.4097947832,10120739.222088628,10424361.398751285,10737092.240713825]
[]
[null,"Refinance Proceeds",null,null,null,{"$f":"'Return Detail'!F26","v":0},{"$f":"'Return Detail'!G26","v":0},{"$f":"'Return Detail'!H26","v":0},{"$f":"'Return Detail'!I26","v":0},{"$f":"'Return Detail'!J26","v":0},{"$f":"'Return Detail'!K26","v":0},{"$f":"'Return Detail'!L26","v":0},{"$f":"'Return Detail'!M26","v":0},{"$f":"'Return Detail'!N26","v":0},{"$f":"'Return Detail'!O26","v":0}]
[null,"Less: Mortgage Origination Fee",null,null,null,{"$f":"'Return Detail'!F$28","v":0},{"$f":"'Return Detail'!G$28","v":0},{"$f":"'Return Detail'!H$28","v":0},{"$f":"'Return Detail'!I$28","v":0},{"$f":"'Return Detail'!J$28","v":0},{"$f":"'Return Detail'!K$28","v":0},{"$f":"'Return Detail'!L$28","v":0},{"$f":"'Return Detail'!M$28","v":0},{"$f":"'Return Detail'!N$28","v":0},{"$f":"'Return Detail'!O$28","v":0}]
[]
[null,"Cash Flow After Debt Service",null,null,null,{"$f":"SUM(F84,-F90,F98:F99)","v":515106.375},{"$f":"SUM(G84,-G90,G98:G99)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,"CFADS/Month",null,null,null,{"$f":"F101/12","v":42925.53125},{"$f":"G101/12","v":68575.726249999992},70632.998037500001,72751.987978624995,74934.547617983742,77182.584046523261,79498.061567918965,81883.003414956533,84339.493517405223,86869.678322927371]
[]
[null,"Capital Expenses"]
[null,"Capital Expenditures",null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"Replacement Reserve Expenses",null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"Total Capital Expenses",null,null,null,{"$f":"SUM(F105:F106)","v":0},{"$f":"SUM(G105:G106)","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Expenses Paid from Reserves"]
[null,"Less: Cap Ex Paid from Reserves",null,null,null,{"$f":"F$153","v":0},{"$f":"G$153","v":0},0,0,0,0,0,0,0,0]
[null,"Less: User Defined Paid from Reserves",null,null,null,{"$f":"F$159","v":0},{"$f":"G$159","v":0},0,0,0,0,0,0,0,0]
[null,"Net Capital Expenses",null,null,null,{"$f":"SUM(F107,F110:F111)","v":0},{"$f":"SUM(G107,G110:G111)","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Other Non-Regular Income"]
[null,"Other Non-Regular Income",null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"Other Non-Regular Expenses",null,null,null,0,0,0,0,0,0,0,0,0,0]
[null,"Operating Deficit Reserve Draw",null,null,null,{"$f":"-F146","v":0},{"$f":"-G146","v":0},0,0,0,0,0,0,0,0]
[null,"Return of Reserve Funds",null,null,null,{"$f":"IF(F$7=Hold,F$162,0)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Total Non-Regular Income",null,null,null,{"$f":"SUM(F115:F118)","v":0},{"$f":"SUM(G115:G118)","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Cash Flow Before Taxes",null,null,null,{"$f":"SUM(F101,-F112,F119)","v":515106.375},{"$f":"SUM(G101,-G112,G119)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,"CFBT/Month",null,null,null,{"$f":"F121/12","v":42925.53125},{"$f":"G121/12","v":68575.726249999992},70632.998037500001,72751.987978624995,74934.547617983742,77182.584046523261,79498.061567918965,81883.003414956533,84339.493517405223,86869.678322927371]
[null,"Cash on Cash Return",null,null,null,{"$f":"IFERROR(F121/Equity_Amount,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[]
[null,"Tax Liability*"]
[null,"Cost Recovery Improvements",null,null,null,{"$f":"Acquisition_Unlevered*Assessed_Value_Prop*Cost_Recovery_11M","v":0},{"$f":"IF(G$7<Hold,Acquisition_Unlevered*Cost_Recovery_12M*Assessed_Value_Prop,IF(G$7=Hold,Acquisition_Unlevered*Cost_Recovery_11M*Assessed_Value_Prop,0))","v":0},0,0,0,0,0,0,0,0]
[null,"Loan Costs Amortization",null,null,null,{"$f":"VLOOKUP(F$7,Loan_Cost_Table,6,FALSE)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Taxable Income",null,null,null,{"$f":"SUM(F67,F65)-SUM(F87,F126:F127)","v":515106.375},{"$f":"SUM(G67,G65)-SUM(G87,G126:G127)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,{"$f":"\"Less: Tax Liability at \" & ROUND(Tax_Ordinary*100,0)&\"%\"","v":"Less: Tax Liability at 35%"},null,null,null,{"$f":"-F128*Tax_Ordinary","v":-180287.23124999998},-288018.05024999991,-296658.59175749996,-305558.34951022494,-314725.09999553172,-324166.8529953977,-333891.85858525959,-343908.6143428174,-354225.87277310196,-364852.64895629499]
[]
[null,"Operating Deficit Reserve Draw for Taxes",null,null,null,{"$f":"-F147","v":0},{"$f":"-G147","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Cash Flow After Taxes",null,null,null,{"$f":"SUM(F121,F129,F131)","v":334819.14375000005},{"$f":"SUM(G121,G129,G131)","v":534890.66475},550937.3846925,567465.50623327494,584489.47142027318,602024.15556288138,620084.88022976788,638687.42663666094,657848.04943576083,677583.49091883353]
[null,"CFAT/Month",null,null,null,{"$f":"F133/12","v":27901.595312500005},{"$f":"G133/12","v":44574.222062499997},45911.448724374997,47288.792186106242,48707.45595168943,50168.679630240113,51673.740019147321,53223.952219721745,54820.6707863134,56465.290909902797]
[null,"After Tax Cash on Cash Return",null,null,null,{"$f":"IFERROR(F133/Equity_Amount,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[null,"*Does not include Capital Expenses as they are often subject to separate tax treatment."]
[null,"This pro forma does not constitute tax advice.  Please consult a professional tax advisor"]
[]
[null,"Reserve Account Balances"]
[]
[null,"Period",null,null,null,1,2,3,4,5,6,7,8,9,10]
[null,null,null,null,null,{"$f":"RPMDateSpan(F141,1)","v":"Jan 22 - Dec 22"},{"$f":"RPMDateSpan(G141,1)","v":"Jan 23 - Dec 23"},"Jan 24 - Dec 24","Jan 25 - Dec 25","Jan 26 - Dec 26","Jan 27 - Dec 27","Jan 28 - Dec 28","Jan 29 - Dec 29","Jan 30 - Dec 30","Jan 31 - Dec 31"]
[null,"Operating Deficit Reserve"]
[null,"Beginning Balance",null,null,null,{"$f":"Reserve_Operating","v":0},{"$f":"F148","v":0},{"$f":"G148","v":0},0,0,0,0,0,0,0]
[null,"Contributions",null,null,null,{"$f":"F62","v":0},{"$f":"G62","v":0},0,0,0,0,0,0,0,0]
[null,"Expenses Paid",null,null,null,{"$f":"IF(SUM(F101,F115:F116)>0,0,MAX(SUM(F101,F115:F116),-SUM(F144:F145)))","v":0},{"$f":"IF(SUM(G101,G115:G116)>0,0,MAX(SUM(G101,G115:G116),-SUM(G144:G145)))","v":0},0,0,0,0,0,0,0,0]
[null,"Taxes Paid",null,null,null,{"$f":"IF(F$7>=Hold,0,IF(SUM(F121,F129)>0,0,MAX(SUM(F121,F129),-SUM(F144:F146))))","v":0},0,0,0,0,0,0,0,0,0]
[null,"Ending Balance",null,null,null,{"$f":"SUM(F144:F147)","v":0},{"$f":"SUM(G144:G147)","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Cap Ex Reserve"]
[null,"Beginning Balance",null,null,null,{"$f":"Reserve_CapEx","v":0},{"$f":"F154","v":0},{"$f":"G154","v":0},0,0,0,0,0,0,0]
[null,"Contributions",null,null,null,{"$f":"F$63","v":0},{"$f":"G$63","v":0},0,0,0,0,0,0,0,0]
[null,"Expenses Paid",null,null,null,{"$f":"IF(F$105<SUM(F151:F152),-F$105,-SUM(F151:F152))","v":0},{"$f":"IF(G$105<SUM(G151:G152),-G$105,-SUM(G151:G152))","v":0},0,0,0,0,0,0,0,0]
[null,"Ending Balance",null,null,null,{"$f":"SUM(F151:F153)","v":0},{"$f":"SUM(G151:G153)","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Replacement Reserves"]
[null,"Beginning Balance",null,null,null,{"$f":"Reserve_Replacement","v":0},{"$f":"F160","v":0},{"$f":"G160","v":0},0,0,0,0,0,0,0]
[null,"Contributions",null,null,null,{"$f":"F$64","v":0},{"$f":"G$64","v":0},0,0,0,0,0,0,0,0]
[null,"Expenses Paid",null,null,null,{"$f":"IF(F$106<SUM(F157:F158),-F$106,-SUM(F157:F158))","v":0},{"$f":"IF(G$106<SUM(G157:G158),-G$106,-SUM(G157:G158))","v":0},0,0,0,0,0,0,0,0]
[null,"Ending Balance",null,null,null,{"$f":"SUM(F157:F159)","v":0},{"$f":"SUM(G157:G159)","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Total Reserve Balances",null,null,null,{"$f":"SUM(F148,F154,F160)","v":0},{"$f":"SUM(G148,G154,G160)","v":0},0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]

{"sheet":"Summary Charts","index":6,"n_rows":73,"n_cols":25,"rows_kept":73,"cut":false,"hidden":false,"merged":[[72,1,72,12],[2,1,2,12],[4,1,4,12],[69,1,69,12],[70,1,70,12],[71,1,71,12]]}
[]
[]
[null,{"$f":"Project_Name","v":"New Student Housing Project"}]
[]
[null,"Project Return Summary"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Period",1,2,3,4,5,6,7,8,9,10]
[null,"Summary",null,null,"Sale Analysis",null,null,"Cash Flows",null,null,null,"IRR & Present Value",null,null,"Summary Chart Data",{"$f":"IF(DateView=1,P6,RPMDateSpan(P6,2))","v":1},2,3,4,5,6,7,8,9,10]
[null,"Total Units/Bed",{"$f":"Unit_Mix[[#Totals],[Units]]&\"/\"&SF_Total","v":"40/100"},null,{"$f":"IF(Project_Type=\"Acquisition\",\"Acquisition Price\",\"Development Cost\")","v":"Acquisition Price"},{"$f":"Acquisition_Gross","v":0},null,null,"Before Tax","After Tax",null,"Unleveraged IRR",{"$f":"'Return Detail'!$C$17","v":"-"},null,"Net Operating Income",{"$f":"'Summary & Ratios'!D$10","v":515106.375},{"$f":"'Summary & Ratios'!E$10","v":822908.71499999985},{"$f":"'Summary & Ratios'!F$10","v":847595.97644999996},{"$f":"'Summary & Ratios'!G$10","v":873023.85574349994},{"$f":"'Summary & Ratios'!H$10","v":899214.57141580491},{"$f":"'Summary & Ratios'!I$10","v":926191.00855827914},{"$f":"'Summary & Ratios'!J$10","v":953976.73881502752},{"$f":"'Summary & Ratios'!K$10","v":982596.04097947839},{"$f":"'Summary & Ratios'!L$10","v":1012073.9222088627},{"$f":"'Summary & Ratios'!M$10","v":1042436.1398751285}]
[null,{"$f":"IF(Project_Type=\"Acquisition\",\"Acquisition Price\",\"Development Costs\")","v":"Acquisition Price"},{"$f":"Acquisition_Gross","v":0},null,"Per Bed",{"$f":"IFERROR(Acquisition_Gross/Size_Total,0)","v":0},null,"Operating Cash Flows",{"$f":"SUM('Return Detail'!$F$32:$O$32)","v":8875123.3440460805},{"$f":"SUM('Return Detail'!F83:O83)","v":5768830.1736299526},null,{"$f":"\"Unleveraged PV at \" &(Equity_Rate*100)&\"%\"","v":"Unleveraged PV at 10%"},{"$f":"'Return Detail'!$C$20","v":9380000},null,"Debt Serivce",{"$f":"IF(-'Summary & Ratios'!D$11=0,NA(),-'Summary & Ratios'!D$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!E$11=0,NA(),-'Summary & Ratios'!E$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!F$11=0,NA(),-'Summary & Ratios'!F$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!G$11=0,NA(),-'Summary & Ratios'!G$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!H$11=0,NA(),-'Summary & Ratios'!H$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!I$11=0,NA(),-'Summary & Ratios'!I$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!J$11=0,NA(),-'Summary & Ratios'!J$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!K$11=0,NA(),-'Summary & Ratios'!K$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!L$11=0,NA(),-'Summary & Ratios'!L$11)","v":{"$error":"#N/A"}},{"$f":"IF(-'Summary & Ratios'!M$11=0,NA(),-'Summary & Ratios'!M$11)","v":{"$error":"#N/A"}}]
[null,"Other Costs",{"$f":"'Sources & Uses'!C19","v":0},null,"Sale Price",{"$f":"SUM('Return Detail'!F10:O10)","v":10737092.240713825},null,"Net Sale Proceeds",{"$f":"SUM('Return Detail'!$F$33:$O$36)","v":10737092.240713825},{"$f":"SUM('Return Detail'!F84:O84)","v":8589673.7925710604},null,"Leveraged IRR",{"$f":"'Return Detail'!C42","v":"-"},null,"Cash Flow After Taxes",{"$f":"'Return Detail'!F$83","v":334819.14375000005},{"$f":"'Return Detail'!G$83","v":534890.66475},{"$f":"'Return Detail'!H$83","v":550937.3846925},{"$f":"'Return Detail'!I$83","v":567465.50623327494},{"$f":"'Return Detail'!J$83","v":584489.47142027318},{"$f":"'Return Detail'!K$83","v":602024.15556288138},{"$f":"'Return Detail'!L$83","v":620084.88022976788},{"$f":"'Return Detail'!M$83","v":638687.42663666094},{"$f":"'Return Detail'!N$83","v":657848.04943576083},{"$f":"'Return Detail'!O$83","v":677583.49091883353}]
[null,"Equity",{"$f":"Equity_Amount","v":0},null,"Per Bed",{"$f":"IFERROR(F10/Size_Total,0)","v":107370.92240713825},null,"Total Cash Flow",{"$f":"SUM(I9:I10)","v":19612215.584759906},{"$f":"SUM(J9:J10)","v":14358503.966201013},null,{"$f":"\"Leveraged PV at \" &(Equity_Rate*100)&\"%\"","v":"Leveraged PV at 10%"},{"$f":"'Return Detail'!$C$48","v":9380000},null,"Mortgage Balance (EOY)",{"$f":"'Summary & Ratios'!D$27","v":0},{"$f":"'Summary & Ratios'!E$27","v":0},{"$f":"'Summary & Ratios'!F$27","v":0},{"$f":"'Summary & Ratios'!G$27","v":0},{"$f":"'Summary & Ratios'!H$27","v":0},{"$f":"'Summary & Ratios'!I$27","v":0},{"$f":"'Summary & Ratios'!J$27","v":0},{"$f":"'Summary & Ratios'!K$27","v":0},{"$f":"'Summary & Ratios'!L$27","v":0},{"$f":"'Summary & Ratios'!M$27","v":0}]
[null,"Debt",{"$f":"Loan_Amount","v":0},null,"Appreciation ",{"$f":"IFERROR((F10/F8)-1,\"-\")","v":"-"},null,"Profit",{"$f":"SUM('Return Detail'!$E$37:$O$37)","v":19612215.584759906},{"$f":"SUM('Return Detail'!E85:O85)","v":14358503.966201013},null,"After Tax IRR (Leveraged)",{"$f":"'Return Detail'!$C$91","v":"-"},null,"Equity (EOY)",{"$f":"'Summary & Ratios'!D$28","v":8229087.1499999985},{"$f":"'Summary & Ratios'!E$28","v":8475959.7644999996},{"$f":"'Summary & Ratios'!F$28","v":8730238.5574349985},{"$f":"'Summary & Ratios'!G$28","v":8992145.7141580489},{"$f":"'Summary & Ratios'!H$28","v":9261910.0855827909},{"$f":"'Summary & Ratios'!I$28","v":9539767.3881502748},{"$f":"'Summary & Ratios'!J$28","v":9825960.4097947832},{"$f":"'Summary & Ratios'!K$28","v":10120739.222088628},{"$f":"'Summary & Ratios'!L$28","v":10424361.398751285},{"$f":"'Summary & Ratios'!M$28","v":10737092.240713825}]
[null,{"$f":"IF(Project_Type=\"Acquisition\",\"LTV\",\"LTC\")","v":"LTV"},{"$f":"LTV","v":0},null,"Avg. App/Year",{"$f":"IFERROR(F12/Hold,\"-\")","v":"-"},null,"Equity Multiple",{"$f":"IFERROR(I12/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR(J12/Equity_Amount,\"-\")","v":"-"},null,{"$f":"\"After Tax PV at \" &(Equity_Rate*100)&\"%\"","v":"After Tax PV at 10%"},{"$f":"'Return Detail'!$C$97","v":6720000},null,"Before Tax Cash on Cash",{"$f":"IFERROR('Summary & Ratios'!D$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!E$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!F$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!G$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!H$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!I$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!J$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!K$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!L$33,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!M$33,NA())","v":"-"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"After Tax Cash on Cash",{"$f":"IFERROR('Summary & Ratios'!D$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!E$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!F$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!G$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!H$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!I$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!J$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!K$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!L$34,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!M$34,NA())","v":"-"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"After Tax",{"$f":"IFERROR('Summary & Ratios'!D$42,NA())","v":-0.18956874999999998},{"$f":"IFERROR('Summary & Ratios'!E$42,NA())","v":-0.29402499999999993},{"$f":"IFERROR('Summary & Ratios'!F$42,NA())","v":-0.29402499999999993},{"$f":"IFERROR('Summary & Ratios'!G$42,NA())","v":-0.29402499999999993},{"$f":"IFERROR('Summary & Ratios'!H$42,NA())","v":-0.29402499999999993},{"$f":"IFERROR('Summary & Ratios'!I$42,NA())","v":-0.29402499999999993},{"$f":"IFERROR('Summary & Ratios'!J$42,NA())","v":-0.29402499999999987},{"$f":"IFERROR('Summary & Ratios'!K$42,NA())","v":-0.29402499999999993},{"$f":"IFERROR('Summary & Ratios'!L$42,NA())","v":-0.29402499999999998},{"$f":"IFERROR('Summary & Ratios'!M$42,NA())","v":-0.29402499999999993}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Pre Tax",{"$f":"IFERROR('Summary & Ratios'!D$41,NA())","v":1.8374999999999999E-2},{"$f":"IFERROR('Summary & Ratios'!E$41,NA())","v":2.8499999999999994E-2},{"$f":"IFERROR('Summary & Ratios'!F$41,NA())","v":2.8499999999999998E-2},{"$f":"IFERROR('Summary & Ratios'!G$41,NA())","v":2.8499999999999994E-2},{"$f":"IFERROR('Summary & Ratios'!H$41,NA())","v":2.8499999999999994E-2},{"$f":"IFERROR('Summary & Ratios'!I$41,NA())","v":2.8499999999999994E-2},{"$f":"IFERROR('Summary & Ratios'!J$41,NA())","v":2.8499999999999994E-2},{"$f":"IFERROR('Summary & Ratios'!K$41,NA())","v":2.8499999999999994E-2},{"$f":"IFERROR('Summary & Ratios'!L$41,NA())","v":2.8499999999999994E-2},{"$f":"IFERROR('Summary & Ratios'!M$41,NA())","v":2.8499999999999994E-2}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Debt Service Coverage Ratio",{"$f":"IFERROR('Summary & Ratios'!D$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!E$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!F$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!G$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!H$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!I$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!J$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!K$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!L$40,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!M$40,NA())","v":"-"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"LTV",{"$f":"IFERROR('Summary & Ratios'!D$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!E$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!F$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!G$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!H$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!I$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!J$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!K$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!L$38,NA())","v":0},{"$f":"IFERROR('Summary & Ratios'!M$38,NA())","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Debt Yield",{"$f":"IFERROR('Summary & Ratios'!D$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!E$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!F$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!G$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!H$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!I$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!J$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!K$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!L$43,NA())","v":"-"},{"$f":"IFERROR('Summary & Ratios'!M$43,NA())","v":"-"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(Disposition=\"Cap Rate\",TEXT((Exit_Rate-0.01),\"0.0%\")&\" Cap Rate\",TEXT(Exit_Rate-0.01,\"0.0%\")&\" Growth Rate\")","v":"9.0% Cap Rate"},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!G$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),P$6,0,-Acquisition_Gross))),\"-\")","v":9143430.1666666642},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!H$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),Q$6,0,-Acquisition_Gross))),\"-\")","v":9417733.0716666654},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!I$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),R$6,0,-Acquisition_Gross))),\"-\")","v":9700265.0638166647},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!J$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),S$6,0,-Acquisition_Gross))),\"-\")","v":9991273.0157311652},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!K$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),T$6,0,-Acquisition_Gross))),\"-\")","v":10291011.206203101},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!L$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),U$6,0,-Acquisition_Gross))),\"-\")","v":10599741.542389194},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!M$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),V$6,0,-Acquisition_Gross))),\"-\")","v":10917733.788660869},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!N$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),W$6,0,-Acquisition_Gross))),\"-\")","v":11245265.802320696},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!O$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),X$6,0,-Acquisition_Gross))),\"-\")","v":11582623.776390316},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!P$59/(Exit_Rate-0.01),FV((Exit_Rate-0.01),Y$6,0,-Acquisition_Gross))),\"-\")","v":11930102.489682026}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(Disposition=\"Cap Rate\",TEXT((Exit_Rate),\"0.0%\")&\" Cap Rate\",TEXT(Exit_Rate,\"0.0%\")&\" Growth Rate\")","v":"10.0% Cap Rate"},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!G$59/(Exit_Rate),FV((Exit_Rate),P$6,0,-Acquisition_Gross))),\"-\")","v":8229087.1499999985},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!H$59/(Exit_Rate),FV((Exit_Rate),Q$6,0,-Acquisition_Gross))),\"-\")","v":8475959.7644999996},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!I$59/(Exit_Rate),FV((Exit_Rate),R$6,0,-Acquisition_Gross))),\"-\")","v":8730238.5574349985},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!J$59/(Exit_Rate),FV((Exit_Rate),S$6,0,-Acquisition_Gross))),\"-\")","v":8992145.7141580489},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!K$59/(Exit_Rate),FV((Exit_Rate),T$6,0,-Acquisition_Gross))),\"-\")","v":9261910.0855827909},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!L$59/(Exit_Rate),FV((Exit_Rate),U$6,0,-Acquisition_Gross))),\"-\")","v":9539767.3881502748},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!M$59/(Exit_Rate),FV((Exit_Rate),V$6,0,-Acquisition_Gross))),\"-\")","v":9825960.4097947832},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!N$59/(Exit_Rate),FV((Exit_Rate),W$6,0,-Acquisition_Gross))),\"-\")","v":10120739.222088628},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!O$59/(Exit_Rate),FV((Exit_Rate),X$6,0,-Acquisition_Gross))),\"-\")","v":10424361.398751285},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!P$59/(Exit_Rate),FV((Exit_Rate),Y$6,0,-Acquisition_Gross))),\"-\")","v":10737092.240713825}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(Disposition=\"Cap Rate\",TEXT((Exit_Rate+0.01),\"0.0%\")&\" Cap Rate\",TEXT(Exit_Rate+0.01,\"0.0%\")&\" Growth Rate\")","v":"11.0% Cap Rate"},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!G$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),P$6,0,-Acquisition_Gross))),\"-\")","v":7480988.3181818165},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!H$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),Q$6,0,-Acquisition_Gross))),\"-\")","v":7705417.9677272728},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!I$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),R$6,0,-Acquisition_Gross))),\"-\")","v":7936580.5067590903},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!J$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),S$6,0,-Acquisition_Gross))),\"-\")","v":8174677.9219618626},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!K$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),T$6,0,-Acquisition_Gross))),\"-\")","v":8419918.2596207187},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!L$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),U$6,0,-Acquisition_Gross))),\"-\")","v":8672515.8074093405},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!M$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),V$6,0,-Acquisition_Gross))),\"-\")","v":8932691.2816316225},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!N$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),W$6,0,-Acquisition_Gross))),\"-\")","v":9200672.0200805701},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!O$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),X$6,0,-Acquisition_Gross))),\"-\")","v":9476692.180682987},{"$f":"IFERROR(MAX(0,IF(Disposition=\"Cap Rate\",'Cash Flows'!P$59/(Exit_Rate+0.01),FV((Exit_Rate+0.01),Y$6,0,-Acquisition_Gross))),\"-\")","v":9760992.9461034779}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Development Cost",{"$f":"Acquisition_Levered","v":0},0,0,0,0,0,0,0,0,0]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]
[null,"This pro forma does not constitute tax advice.  Please consult a professional tax advisor."]

{"sheet":"Summary & Ratios","index":7,"n_rows":59,"n_cols":14,"rows_kept":59,"cut":false,"hidden":false,"merged":[[58,1,58,12]]}
[]
[null,"Summary & Ratios"]
[]
[null,null,null,1,2,3,4,5,6,7,8,9,10,"Total"]
[null,null,null,{"$f":"RPMDateSpan(D4,1)","v":"Jan 22 - Dec 22"},{"$f":"RPMDateSpan(E4,1)","v":"Jan 23 - Dec 23"},"Jan 24 - Dec 24","Jan 25 - Dec 25","Jan 26 - Dec 26","Jan 27 - Dec 27","Jan 28 - Dec 28","Jan 29 - Dec 29","Jan 30 - Dec 30","Jan 31 - Dec 31"]
[null,"Operating Summary"]
[null,"Effective Gross Income",null,{"$f":"'Cash Flows'!F35","v":531037.5},{"$f":"'Cash Flows'!G35","v":848359.49999999988},{"$f":"'Cash Flows'!H35","v":873810.28499999992},{"$f":"'Cash Flows'!I35","v":900024.59354999999},{"$f":"'Cash Flows'!J35","v":927025.33135649993},{"$f":"'Cash Flows'!K35","v":954836.09129719494},{"$f":"'Cash Flows'!L35","v":983481.17403611087},{"$f":"'Cash Flows'!M35","v":1012985.6092571942},{"$f":"'Cash Flows'!N35","v":1043375.17753491},{"$f":"'Cash Flows'!O35","v":1074676.4328609572},{"$f":"SUM(D7:M7)","v":9149611.6948928665}]
[null,"Operating Expenses",null,{"$f":"-'Cash Flows'!F55","v":-15931.125},{"$f":"-'Cash Flows'!G55","v":-25450.784999999996},{"$f":"-'Cash Flows'!H55","v":-26214.308549999998},{"$f":"-'Cash Flows'!I55","v":-27000.737806499998},{"$f":"-'Cash Flows'!J55","v":-27810.759940694996},{"$f":"-'Cash Flows'!K55","v":-28645.082738915848},{"$f":"-'Cash Flows'!L55","v":-29504.435221083324},{"$f":"-'Cash Flows'!M55","v":-30389.568277715825},{"$f":"-'Cash Flows'!N55","v":-31301.2553260473},{"$f":"-'Cash Flows'!O55","v":-32240.292985828717},{"$f":"SUM(D8:M8)","v":-274488.35084678599}]
[null,"Operating  Reserves",null,{"$f":"-'Cash Flows'!F$65","v":0},{"$f":"-'Cash Flows'!G$65","v":0},{"$f":"-'Cash Flows'!H$65","v":0},{"$f":"-'Cash Flows'!I$65","v":0},{"$f":"-'Cash Flows'!J$65","v":0},{"$f":"-'Cash Flows'!K$65","v":0},{"$f":"-'Cash Flows'!L$65","v":0},{"$f":"-'Cash Flows'!M$65","v":0},{"$f":"-'Cash Flows'!N$65","v":0},{"$f":"-'Cash Flows'!O$65","v":0},0]
[null,"Net Operating Income",null,{"$f":"'Cash Flows'!F67","v":515106.375},{"$f":"'Cash Flows'!G67","v":822908.71499999985},{"$f":"'Cash Flows'!H67","v":847595.97644999996},{"$f":"'Cash Flows'!I67","v":873023.85574349994},{"$f":"'Cash Flows'!J67","v":899214.57141580491},{"$f":"'Cash Flows'!K67","v":926191.00855827914},{"$f":"'Cash Flows'!L67","v":953976.73881502752},{"$f":"'Cash Flows'!M67","v":982596.04097947839},{"$f":"'Cash Flows'!N67","v":1012073.9222088627},{"$f":"'Cash Flows'!O67","v":1042436.1398751285},8875123.3440460805]
[null,"Less: Debt Service",null,{"$f":"-'Cash Flows'!F90","v":0},{"$f":"-'Cash Flows'!G90","v":0},{"$f":"-'Cash Flows'!H90","v":0},{"$f":"-'Cash Flows'!I90","v":0},{"$f":"-'Cash Flows'!J90","v":0},{"$f":"-'Cash Flows'!K90","v":0},{"$f":"-'Cash Flows'!L90","v":0},{"$f":"-'Cash Flows'!M90","v":0},{"$f":"-'Cash Flows'!N90","v":0},{"$f":"-'Cash Flows'!O90","v":0},0]
[null,"Less: Fees",null,{"$f":"'Cash Flows'!F99","v":0},{"$f":"'Cash Flows'!G99","v":0},{"$f":"'Cash Flows'!H99","v":0},{"$f":"'Cash Flows'!I99","v":0},{"$f":"'Cash Flows'!J99","v":0},{"$f":"'Cash Flows'!K99","v":0},{"$f":"'Cash Flows'!L99","v":0},{"$f":"'Cash Flows'!M99","v":0},{"$f":"'Cash Flows'!N99","v":0},{"$f":"'Cash Flows'!O99","v":0},0]
[null,"Refinance Proceeds",null,{"$f":"'Cash Flows'!F98","v":0},{"$f":"'Cash Flows'!G98","v":0},{"$f":"'Cash Flows'!H98","v":0},{"$f":"'Cash Flows'!I98","v":0},{"$f":"'Cash Flows'!J98","v":0},{"$f":"'Cash Flows'!K98","v":0},{"$f":"'Cash Flows'!L98","v":0},{"$f":"'Cash Flows'!M98","v":0},{"$f":"'Cash Flows'!N98","v":0},{"$f":"'Cash Flows'!O98","v":0},0]
[null,"Cash Flow After Debt Service",null,{"$f":"'Cash Flows'!F101","v":515106.375},{"$f":"'Cash Flows'!G101","v":822908.71499999985},{"$f":"'Cash Flows'!H101","v":847595.97644999996},{"$f":"'Cash Flows'!I101","v":873023.85574349994},{"$f":"'Cash Flows'!J101","v":899214.57141580491},{"$f":"'Cash Flows'!K101","v":926191.00855827914},{"$f":"'Cash Flows'!L101","v":953976.73881502752},{"$f":"'Cash Flows'!M101","v":982596.04097947839},{"$f":"'Cash Flows'!N101","v":1012073.9222088627},{"$f":"'Cash Flows'!O101","v":1042436.1398751285},8875123.3440460805]
[null,"Capital Expenses",null,{"$f":"-'Cash Flows'!F112","v":0},{"$f":"-'Cash Flows'!G112","v":0},{"$f":"-'Cash Flows'!H112","v":0},{"$f":"-'Cash Flows'!I112","v":0},{"$f":"-'Cash Flows'!J112","v":0},{"$f":"-'Cash Flows'!K112","v":0},{"$f":"-'Cash Flows'!L112","v":0},{"$f":"-'Cash Flows'!M112","v":0},{"$f":"-'Cash Flows'!N112","v":0},{"$f":"-'Cash Flows'!O112","v":0},0]
[null,"Other Non-Regular Income",null,{"$f":"'Cash Flows'!F$119","v":0},{"$f":"'Cash Flows'!G$119","v":0},{"$f":"'Cash Flows'!H$119","v":0},{"$f":"'Cash Flows'!I$119","v":0},{"$f":"'Cash Flows'!J$119","v":0},{"$f":"'Cash Flows'!K$119","v":0},{"$f":"'Cash Flows'!L$119","v":0},{"$f":"'Cash Flows'!M$119","v":0},{"$f":"'Cash Flows'!N$119","v":0},{"$f":"'Cash Flows'!O$119","v":0},0]
[null,{"$f":"IF(Disposition=\"Cap Rate\",\"Sale Price Based on \"&ROUND(Exit_Rate*100,2)&\"% Exit Cap Rate\",\"Sale Price Based on \"&ROUND(Exit_Rate*100,2)&\"% Annual Growth Rate\")","v":"Sale Price Based on 10% Exit Cap Rate"},null,{"$f":"'Return Detail'!F$33","v":0},{"$f":"'Return Detail'!G$33","v":0},{"$f":"'Return Detail'!H$33","v":0},{"$f":"'Return Detail'!I$33","v":0},{"$f":"'Return Detail'!J$33","v":0},{"$f":"'Return Detail'!K$33","v":0},{"$f":"'Return Detail'!L$33","v":0},{"$f":"'Return Detail'!M$33","v":0},{"$f":"'Return Detail'!N$33","v":0},{"$f":"'Return Detail'!O$33","v":10737092.240713825},10737092.240713825]
[null,"Less: Mortgage Balance",null,{"$f":"'Return Detail'!F$35","v":0},{"$f":"'Return Detail'!G$35","v":0},{"$f":"'Return Detail'!H$35","v":0},{"$f":"'Return Detail'!I$35","v":0},{"$f":"'Return Detail'!J$35","v":0},{"$f":"'Return Detail'!K$35","v":0},{"$f":"'Return Detail'!L$35","v":0},{"$f":"'Return Detail'!M$35","v":0},{"$f":"'Return Detail'!N$35","v":0},{"$f":"'Return Detail'!O$35","v":0},0]
[null,"Less: Cost of Sale",null,{"$f":"SUM('Return Detail'!F$34,'Return Detail'!F$36)","v":0},{"$f":"SUM('Return Detail'!G$34,'Return Detail'!G$36)","v":0},{"$f":"SUM('Return Detail'!H$34,'Return Detail'!H$36)","v":0},{"$f":"SUM('Return Detail'!I$34,'Return Detail'!I$36)","v":0},{"$f":"SUM('Return Detail'!J$34,'Return Detail'!J$36)","v":0},{"$f":"SUM('Return Detail'!K$34,'Return Detail'!K$36)","v":0},{"$f":"SUM('Return Detail'!L$34,'Return Detail'!L$36)","v":0},{"$f":"SUM('Return Detail'!M$34,'Return Detail'!M$36)","v":0},{"$f":"SUM('Return Detail'!N$34,'Return Detail'!N$36)","v":0},{"$f":"SUM('Return Detail'!O$34,'Return Detail'!O$36)","v":0},0]
[null,"Cash Flow Before Taxes",null,{"$f":"SUM(D14:D19)","v":515106.375},{"$f":"SUM(E14:E19)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,11779528.380588954,19612215.584759906]
[null,"Less: Taxes",null,{"$f":"SUM('Return Detail'!F74:F76,'Return Detail'!F81:F82)","v":-180287.23124999998},{"$f":"SUM('Return Detail'!G74:G76,'Return Detail'!G81:G82)","v":-288018.05024999991},{"$f":"SUM('Return Detail'!H74:H76,'Return Detail'!H81:H82)","v":-296658.59175749996},{"$f":"SUM('Return Detail'!I74:I76,'Return Detail'!I81:I82)","v":-305558.34951022494},{"$f":"SUM('Return Detail'!J74:J76,'Return Detail'!J81:J82)","v":-314725.09999553172},{"$f":"SUM('Return Detail'!K74:K76,'Return Detail'!K81:K82)","v":-324166.8529953977},{"$f":"SUM('Return Detail'!L74:L76,'Return Detail'!L81:L82)","v":-333891.85858525959},{"$f":"SUM('Return Detail'!M74:M76,'Return Detail'!M81:M82)","v":-343908.6143428174},{"$f":"SUM('Return Detail'!N74:N76,'Return Detail'!N81:N82)","v":-354225.87277310196},{"$f":"SUM('Return Detail'!O74:O76,'Return Detail'!O81:O82)","v":-2512271.0970990602},{"$f":"SUM(D21:M21)","v":-5253711.6185588939}]
[null,"Cash Flow After Taxes",null,{"$f":"SUM(D20:D21)","v":334819.14375000005},{"$f":"SUM(E20:E21)","v":534890.66475},550937.3846925,567465.50623327494,584489.47142027318,602024.15556288138,620084.88022976788,638687.42663666094,657848.04943576083,9267257.2834898941,{"$f":"SUM(D22:M22)","v":14358503.966201013}]
[]
[null,"Value Summary"]
[null,{"$f":"IF(Project_Type=\"Acquisition\",\"Cap Rate Based on Acquisition Cost\",\"Cap Rate Based on Development Cost\")","v":"Cap Rate Based on Acquisition Cost"},null,{"$f":"IFERROR(SUM(D7:D8)/Acquisition_Levered,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[null,{"$f":"IF(Disposition=\"Cap Rate\",\"Value Based on \"&ROUND(Exit_Rate*100,2)&\"% Exit Cap Rate\",\"Value Based on \"&ROUND(Exit_Rate*100,2)&\"% Annual Growth Rate\")","v":"Value Based on 10% Exit Cap Rate"},null,{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!G$67/Exit_Rate,FV(Exit_Rate,D$4,0,-Acquisition_Gross)),\"-\")","v":8229087.1499999985},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!H$67/Exit_Rate,FV(Exit_Rate,E$4,0,-Acquisition_Gross)),\"-\")","v":8475959.7644999996},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!I$67/Exit_Rate,FV(Exit_Rate,F$4,0,-Acquisition_Gross)),\"-\")","v":8730238.5574349985},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!J$67/Exit_Rate,FV(Exit_Rate,G$4,0,-Acquisition_Gross)),\"-\")","v":8992145.7141580489},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!K$67/Exit_Rate,FV(Exit_Rate,H$4,0,-Acquisition_Gross)),\"-\")","v":9261910.0855827909},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!L$67/Exit_Rate,FV(Exit_Rate,I$4,0,-Acquisition_Gross)),\"-\")","v":9539767.3881502748},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!M$67/Exit_Rate,FV(Exit_Rate,J$4,0,-Acquisition_Gross)),\"-\")","v":9825960.4097947832},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!N$67/Exit_Rate,FV(Exit_Rate,K$4,0,-Acquisition_Gross)),\"-\")","v":10120739.222088628},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!O$67/Exit_Rate,FV(Exit_Rate,L$4,0,-Acquisition_Gross)),\"-\")","v":10424361.398751285},{"$f":"IFERROR(IF(Disposition=\"Cap Rate\",'Cash Flows'!P$67/Exit_Rate,FV(Exit_Rate,M$4,0,-Acquisition_Gross)),\"-\")","v":10737092.240713825}]
[null,"Mortgage Balance (EOY)",null,{"$f":"IFERROR(VLOOKUP(D$4,Amortization_Schedule_Annual,9,FALSE),\"-\")","v":0},0,0,0,0,0,0,0,0,0]
[null,"Equity (EOY)",null,{"$f":"IFERROR(D26-D27,\"-\")","v":8229087.1499999985},{"$f":"IFERROR(E26-E27,\"-\")","v":8475959.7644999996},8730238.5574349985,8992145.7141580489,9261910.0855827909,9539767.3881502748,9825960.4097947832,10120739.222088628,10424361.398751285,10737092.240713825]
[]
[null,"Operating Ratios"]
[null,"Net Income Multiplier*",null,{"$f":"IFERROR(Acquisition_Levered/D10,\"-\")","v":0},0,0,0,0,0,0,0,0,0]
[null,"Operating Expense Ratio",null,{"$f":"IFERROR(-D8/D7,\"-\")","v":0.03},0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03]
[null,"Cash on Cash Return (Pre Tax)",null,{"$f":"IFERROR('Return Detail'!F32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!G32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!H32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!I32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!J32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!K32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!L32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!M32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!N32/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!O32/Equity_Amount,\"-\")","v":"-"}]
[null,"Cash on Cash Return (Post Tax)",null,{"$f":"IFERROR('Return Detail'!F$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!G$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!H$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!I$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!J$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!K$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!L$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!M$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!N$83/Equity_Amount,\"-\")","v":"-"},{"$f":"IFERROR('Return Detail'!O$83/Equity_Amount,\"-\")","v":"-"}]
[null,{"$f":"IF(Project_Type=\"Acquisition\",\"*Based on Acquisition Cost\",\"*Based on Development Cost\")","v":"*Based on Acquisition Cost"}]
[]
[null,"Lender Ratios"]
[null,"Loan to Value Ratio ",null,{"$f":"IFERROR(D27/D26,\"-\")","v":0},{"$f":"IFERROR(E27/E26,\"-\")","v":0},0,0,0,0,0,0,0,0]
[null,"Debt to Equity Ratio ",null,{"$f":"IFERROR(D27/D28,\"-\")","v":0},{"$f":"IFERROR(E27/E28,\"-\")","v":0},0,0,0,0,0,0,0,0]
[null,"Debt Service Coverage Ratio",null,{"$f":"IFERROR(D$10/-D$11,\"-\")","v":"-"},{"$f":"IFERROR(E$10/-E$11,\"-\")","v":"-"},"-","-","-","-","-","-","-","-"]
[null,"Break Even Occupancy (Pre Tax)",null,{"$f":"IFERROR(SUM('Cash Flows'!F55,'Cash Flows'!F90,'Cash Flows'!F99)/SUM('Cash Flows'!F24,'Cash Flows'!F33),\"-\")","v":1.8374999999999999E-2},{"$f":"IFERROR(SUM('Cash Flows'!G55,'Cash Flows'!G90,'Cash Flows'!G99)/SUM('Cash Flows'!G24,'Cash Flows'!G33),\"-\")","v":2.8499999999999994E-2},{"$f":"IFERROR(SUM('Cash Flows'!H55,'Cash Flows'!H90,'Cash Flows'!H99)/SUM('Cash Flows'!H24,'Cash Flows'!H33),\"-\")","v":2.8499999999999998E-2},{"$f":"IFERROR(SUM('Cash Flows'!I55,'Cash Flows'!I90,'Cash Flows'!I99)/SUM('Cash Flows'!I24,'Cash Flows'!I33),\"-\")","v":2.8499999999999994E-2},{"$f":"IFERROR(SUM('Cash Flows'!J55,'Cash Flows'!J90,'Cash Flows'!J99)/SUM('Cash Flows'!J24,'Cash Flows'!J33),\"-\")","v":2.8499999999999994E-2},{"$f":"IFERROR(SUM('Cash Flows'!K55,'Cash Flows'!K90,'Cash Flows'!K99)/SUM('Cash Flows'!K24,'Cash Flows'!K33),\"-\")","v":2.8499999999999994E-2},{"$f":"IFERROR(SUM('Cash Flows'!L55,'Cash Flows'!L90,'Cash Flows'!L99)/SUM('Cash Flows'!L24,'Cash Flows'!L33),\"-\")","v":2.8499999999999994E-2},{"$f":"IFERROR(SUM('Cash Flows'!M55,'Cash Flows'!M90,'Cash Flows'!M99)/SUM('Cash Flows'!M24,'Cash Flows'!M33),\"-\")","v":2.8499999999999994E-2},{"$f":"IFERROR(SUM('Cash Flows'!N55,'Cash Flows'!N90,'Cash Flows'!N99)/SUM('Cash Flows'!N24,'Cash Flows'!N33),\"-\")","v":2.8499999999999994E-2},{"$f":"IFERROR(SUM('Cash Flows'!O55,'Cash Flows'!O90,'Cash Flows'!O99)/SUM('Cash Flows'!O24,'Cash Flows'!O33),\"-\")","v":2.8499999999999994E-2}]
[null,"Break Even Occupancy (Post Tax)",null,{"$f":"IFERROR(SUM('Cash Flows'!F55,'Cash Flows'!F90,'Cash Flows'!F99,'Cash Flows'!F129)/SUM('Cash Flows'!F24,'Cash Flows'!F33),\"-\")","v":-0.18956874999999998},{"$f":"IFERROR(SUM('Cash Flows'!G55,'Cash Flows'!G90,'Cash Flows'!G99,'Cash Flows'!G129)/SUM('Cash Flows'!G24,'Cash Flows'!G33),\"-\")","v":-0.29402499999999993},{"$f":"IFERROR(SUM('Cash Flows'!H55,'Cash Flows'!H90,'Cash Flows'!H99,'Cash Flows'!H129)/SUM('Cash Flows'!H24,'Cash Flows'!H33),\"-\")","v":-0.29402499999999993},{"$f":"IFERROR(SUM('Cash Flows'!I55,'Cash Flows'!I90,'Cash Flows'!I99,'Cash Flows'!I129)/SUM('Cash Flows'!I24,'Cash Flows'!I33),\"-\")","v":-0.29402499999999993},{"$f":"IFERROR(SUM('Cash Flows'!J55,'Cash Flows'!J90,'Cash Flows'!J99,'Cash Flows'!J129)/SUM('Cash Flows'!J24,'Cash Flows'!J33),\"-\")","v":-0.29402499999999993},{"$f":"IFERROR(SUM('Cash Flows'!K55,'Cash Flows'!K90,'Cash Flows'!K99,'Cash Flows'!K129)/SUM('Cash Flows'!K24,'Cash Flows'!K33),\"-\")","v":-0.29402499999999993},{"$f":"IFERROR(SUM('Cash Flows'!L55,'Cash Flows'!L90,'Cash Flows'!L99,'Cash Flows'!L129)/SUM('Cash Flows'!L24,'Cash Flows'!L33),\"-\")","v":-0.29402499999999987},{"$f":"IFERROR(SUM('Cash Flows'!M55,'Cash Flows'!M90,'Cash Flows'!M99,'Cash Flows'!M129)/SUM('Cash Flows'!M24,'Cash Flows'!M33),\"-\")","v":-0.29402499999999993},{"$f":"IFERROR(SUM('Cash Flows'!N55,'Cash Flows'!N90,'Cash Flows'!N99,'Cash Flows'!N129)/SUM('Cash Flows'!N24,'Cash Flows'!N33),\"-\")","v":-0.29402499999999998},{"$f":"IFERROR(SUM('Cash Flows'!O55,'Cash Flows'!O90,'Cash Flows'!O99,'Cash Flows'!O129)/SUM('Cash Flows'!O24,'Cash Flows'!O33),\"-\")","v":-0.29402499999999993}]
[null,"Debt Yield",null,{"$f":"IFERROR(D10/D27,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[]
[null,{"$f":"\"Performance Summary over \" & Hold & \" Years\"","v":"Performance Summary over 10 Years"},null,"Pre Tax","Post Tax"]
[null,"Initial Equity",null,{"$f":"-Equity_Amount","v":0},{"$f":"-Equity_Amount","v":0}]
[null,"Operating Cash Flows",null,{"$f":"SUM('Return Detail'!$F$32:$O$32)","v":8875123.3440460805},{"$f":"SUM('Return Detail'!$F$83:$O$83)","v":5768830.1736299526}]
[null,"Net Reversion Proceeds",null,{"$f":"SUM('Return Detail'!$F$33:$O$36)","v":10737092.240713825},{"$f":"SUM('Return Detail'!$F$84:$O$84)","v":8589673.7925710604}]
[null,"Net Cash Flow",null,{"$f":"SUM(D46:D48)","v":19612215.584759906},{"$f":"SUM(E46:E48)","v":14358503.966201013}]
[null,{"$f":"\"Net Present Value at \"&ROUND(Equity_Rate*100,2)&\"%\"","v":"Net Present Value at 10%"},null,{"$f":"'Return Detail'!$C$41","v":9381284.4652471039},{"$f":"'Return Detail'!$C$89","v":6718776.9816195834}]
[null,"Leveraged IRR",null,{"$f":"'Return Detail'!$C$42","v":"-"},{"$f":"'Return Detail'!C91","v":"-"}]
[]
[]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]
[null,"This pro forma does not constitute tax advice.  Please consult a professional tax advisor."]

{"sheet":"Return Detail","index":8,"n_rows":105,"n_cols":15,"rows_kept":105,"cut":false,"hidden":false,"merged":[[1,1,1,14],[104,1,104,14]]}
[]
[null,"Project Return Details"]
[]
[null,"Unlevered Returns"]
[null,null,null,null,null,1,2,3,4,5,6,7,8,9,10]
[null,"Net Operating Income",null,null,null,{"$f":"IF($F$5<=Hold,'Cash Flows'!F$67,0)","v":515106.375},{"$f":"IF(G5<=Hold,'Cash Flows'!G$67,0)","v":822908.71499999985},{"$f":"IF(H5<=Hold,'Cash Flows'!H$67,0)","v":847595.97644999996},{"$f":"IF(I5<=Hold,'Cash Flows'!I$67,0)","v":873023.85574349994},{"$f":"IF(J5<=Hold,'Cash Flows'!J$67,0)","v":899214.57141580491},{"$f":"IF(K5<=Hold,'Cash Flows'!K$67,0)","v":926191.00855827914},{"$f":"IF(L5<=Hold,'Cash Flows'!L$67,0)","v":953976.73881502752},{"$f":"IF(M5<=Hold,'Cash Flows'!M$67,0)","v":982596.04097947839},{"$f":"IF(N5<=Hold,'Cash Flows'!N$67,0)","v":1012073.9222088627},{"$f":"IF(O5<=Hold,'Cash Flows'!O$67,0)","v":1042436.1398751285}]
[null,"Less: Capital Expenses",null,null,null,{"$f":"IF(F$5<=Hold,'Cash Flows'!F112*-1,0)","v":0},{"$f":"IF(G$5<=Hold,'Cash Flows'!G112*-1,0)","v":0},{"$f":"IF(H$5<=Hold,'Cash Flows'!H112*-1,0)","v":0},{"$f":"IF(I$5<=Hold,'Cash Flows'!I112*-1,0)","v":0},{"$f":"IF(J$5<=Hold,'Cash Flows'!J112*-1,0)","v":0},{"$f":"IF(K$5<=Hold,'Cash Flows'!K112*-1,0)","v":0},{"$f":"IF(L$5<=Hold,'Cash Flows'!L112*-1,0)","v":0},{"$f":"IF(M$5<=Hold,'Cash Flows'!M112*-1,0)","v":0},{"$f":"IF(N$5<=Hold,'Cash Flows'!N112*-1,0)","v":0},{"$f":"IF(O$5<=Hold,'Cash Flows'!O112*-1,0)","v":0}]
[null,"Non-Regular Income",null,null,null,{"$f":"IF(F5>Hold,0,'Cash Flows'!F$119)","v":0},{"$f":"IF(G5>Hold,0,'Cash Flows'!G$119)","v":0},{"$f":"IF(H5>Hold,0,'Cash Flows'!H$119)","v":0},{"$f":"IF(I5>Hold,0,'Cash Flows'!I$119)","v":0},{"$f":"IF(J5>Hold,0,'Cash Flows'!J$119)","v":0},{"$f":"IF(K5>Hold,0,'Cash Flows'!K$119)","v":0},{"$f":"IF(L5>Hold,0,'Cash Flows'!L$119)","v":0},{"$f":"IF(M5>Hold,0,'Cash Flows'!M$119)","v":0},{"$f":"IF(N5>Hold,0,'Cash Flows'!N$119)","v":0},{"$f":"IF(O5>Hold,0,'Cash Flows'!O$119)","v":0}]
[null,"Operating Cash Flow",null,null,null,{"$f":"SUM(F6:F8)","v":515106.375},{"$f":"SUM(G6:G8)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,"Reversion Cash Flow",null,null,null,{"$f":"IFERROR(IF(F$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!G$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(G$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!H$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(H$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!I$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(I$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!J$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(J$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!K$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(K$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!L$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(L$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!M$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(M$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!N$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(N$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!O$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":0},{"$f":"IFERROR(IF(O$5=Hold,IF(Disposition=\"Cap Rate\",'Cash Flows'!P$59/Exit_Rate,FV(Exit_Rate,Hold,0,-Acquisition_Gross)),0),0)","v":10737092.240713825}]
[null,"Less: Cost of Sale",null,null,null,{"$f":"F10*-Sale_Cost","v":0},0,0,0,0,0,0,0,0,0]
[null,"Net Cash Flow",null,null,{"$f":"-Acquisition_Unlevered","v":0},{"$f":"SUM(F9:F11)","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,11779528.380588954]
[null,"Cash on Cash Return",null,null,null,{"$f":"IFERROR(F9/Acquisition_Unlevered,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[]
[null,"Net Cash Flow",{"$f":"SUM(E12:O12)","v":19612215.584759906}]
[null,{"$f":"\"Net Present Value at \"&ROUND(Equity_Rate*100,2)&\"%\"","v":"Net Present Value at 10%"},{"$f":"SUM(E12,NPV(Equity_Rate,F12:O12))","v":9381284.4652471039}]
[null,"Unleveraged IRR",{"$f":"IFERROR(IRR(E12:O12),\"-\")","v":"-"}]
[null,"Avg. Operating Cash on Cash",{"$f":"IFERROR(((SUM($F$9:$O$9)/Hold)/Acquisition_Unlevered),\"-\")","v":"-"}]
[null,"Avg. Cash on Cash",{"$f":"IFERROR(((SUM($F$12:$O$12)/Hold)/Acquisition_Unlevered),\"-\")","v":"-"}]
[null,{"$f":"\"Unleveraged PV at \" & TEXT(Equity_Rate,\"#%\") & IF(LEN(C20)>=7,\" Rounded ($10,000's)\",\" Rounded ($1,000's)\")","v":"Unleveraged PV at 10% Rounded ($10,000's)"},{"$f":"IF(LEN(INT(NPV(Equity_Rate,F12:O12)))>=7,ROUND(NPV(Equity_Rate,F12:O12),-4),ROUND(NPV(Equity_Rate,F12:O12),-3))","v":9380000}]
[null,{"$f":"IF(Property_Use=\"Commercial\",\"Per Square Feet\",\"Per Unit\")","v":"Per Unit"},{"$f":"IFERROR(C20/Size_Total,0)","v":93800}]
[]
[null,"Levered Cash Flow"]
[null,null,null,null,null,1,2,3,4,5,6,7,8,9,10]
[null,"Net Operating Income",null,null,null,{"$f":"F6","v":515106.375},{"$f":"G6","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,"Refinance Proceeds",null,null,null,{"$f":"IF(Hold<F24,0,IF(ROUNDUP((Loan_IO_Term+1)/12,0)=F24,Loan_Amount_Amortizing-Loan_Amount,0))","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Debt Service",null,null,null,{"$f":"IF(F24<=Hold,-'Cash Flows'!F$90,0)","v":0},{"$f":"IF(G24<=Hold,-'Cash Flows'!G$90,0)","v":0},{"$f":"IF(H24<=Hold,-'Cash Flows'!H$90,0)","v":0},{"$f":"IF(I24<=Hold,-'Cash Flows'!I$90,0)","v":0},{"$f":"IF(J24<=Hold,-'Cash Flows'!J$90,0)","v":0},{"$f":"IF(K24<=Hold,-'Cash Flows'!K$90,0)","v":0},{"$f":"IF(L24<=Hold,-'Cash Flows'!L$90,0)","v":0},{"$f":"IF(M24<=Hold,-'Cash Flows'!M$90,0)","v":0},{"$f":"IF(N24<=Hold,-'Cash Flows'!N$90,0)","v":0},{"$f":"IF(O24<=Hold,-'Cash Flows'!O$90,0)","v":0}]
[null,"Less: Mortgage Origination Fee",null,null,null,{"$f":"IF(OR(F24>Hold,Loan_IO_Approval=\"No\"),0,IF(AND(Loan_IO_Term<>0,(Loan_IO_Term+1)/12<=F24,(Loan_IO_Term+1)/12>F24-1),Loan_Amor_Fee*-Loan_Amount_Amortizing,0))","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cash Flow After Debt Service",null,null,null,{"$f":"SUM(F25:F28)","v":515106.375},{"$f":"SUM(G25:G28)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,"Less: Capital Expenses",null,null,null,{"$f":"F$7","v":0},{"$f":"G$7","v":0},0,0,0,0,0,0,0,0]
[null,"Non-Regular Income",null,null,null,{"$f":"F8","v":0},{"$f":"G8","v":0},0,0,0,0,0,0,0,0]
[null,"Distributable Cash Flow",null,null,null,{"$f":"SUM(F29:F31)","v":515106.375},{"$f":"SUM(G29:G31)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,"Reversion Cash Flow",null,null,null,{"$f":"F10","v":0},{"$f":"G10","v":0},0,0,0,0,0,0,0,10737092.240713825]
[null,"Less: Cost of Sale",null,null,null,{"$f":"F33*-Sale_Cost","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Mortgage Balance",null,null,null,{"$f":"IF(F$24=Hold,-VLOOKUP(F$24,Amortization_Schedule_Annual,9,FALSE),0)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Mortgage Exit Fee",null,null,null,{"$f":"F35*Loan_Exit_Fee","v":0},{"$f":"G35*Loan_Exit_Fee","v":0},0,0,0,0,0,0,0,0]
[null,"Net Cash Flow",null,null,{"$f":"-Equity_Amount","v":0},{"$f":"SUM(F32:F36)","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,11779528.380588954]
[null,"Cash on Cash Return",null,null,null,{"$f":"IFERROR(F32/Equity_Amount,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[]
[null,"Net Leveraged Cash Flow",{"$f":"SUM(E37:O37)","v":19612215.584759906}]
[null,{"$f":"\"Net Present Value at \"&ROUND(Equity_Rate*100,2)&\"%\"","v":"Net Present Value at 10%"},{"$f":"SUM(E37,NPV(Equity_Rate,F37:O37))","v":9381284.4652471039}]
[null,"Leveraged IRR",{"$f":"IFERROR(IRR(E37:O37),\"-\")","v":"-"}]
[null,"Avg. Operating Cash on Cash",{"$f":"IFERROR(((SUM($F$32:$O$32)/Hold)/-E37),\"-\")","v":"-"}]
[null,"Avg. Cash on Cash",{"$f":"IFERROR(((SUM($F$37:$O$37)/Hold)/-E37),\"-\")","v":"-"}]
[null,{"$f":"\"Present Value of Cash Flows at \"&ROUND(Equity_Rate*100,0)&\"%\"","v":"Present Value of Cash Flows at 10%"},{"$f":"NPV(Equity_Rate,F37:O37)","v":9381284.4652471039}]
[null,"Plus: Original Loan Amount",{"$f":"Loan_Amount","v":0}]
[null,"Total Leveraged Present Value",{"$f":"SUM(C45:C46)","v":9381284.4652471039}]
[null,{"$f":"IF(LEN(C48)>=7,\"Rounded ($10,000's)\",\"Rounded ($1,000's)\")","v":"Rounded ($10,000's)"},{"$f":"IF(LEN(INT(C47))>=7,ROUND(C47,-4),ROUND(C47,-3))","v":9380000}]
[null,{"$f":"IF(Property_Use=\"Commercial\",\"Per Square Feet\",\"Per Unit\")","v":"Per Unit"},{"$f":"IFERROR(C48/Size_Total,0)","v":93800}]
[]
[null,"After Tax Returns"]
[null,null,null,null,null,1,2,3,4,5,6,7,8,9,10]
[null,"Basis Calculation"]
[null,"Basis at Acquisition",null,null,null,{"$f":"IF(F52=Hold,Acquisition_Unlevered,0)","v":0},0,0,0,0,0,0,0,0,0]
[null,"+ Capital Additions",null,null,null,{"$f":"IF(F52=Hold,SUM('Cash Flows'!$F$105:F$105),0)","v":0},{"$f":"IF(G52=Hold,SUM('Cash Flows'!$F$105:G$105),0)","v":0},{"$f":"IF(H52=Hold,SUM('Cash Flows'!$F$105:H$105),0)","v":0},{"$f":"IF(I52=Hold,SUM('Cash Flows'!$F$105:I$105),0)","v":0},{"$f":"IF(J52=Hold,SUM('Cash Flows'!$F$105:J$105),0)","v":0},{"$f":"IF(K52=Hold,SUM('Cash Flows'!$F$105:K$105),0)","v":0},{"$f":"IF(L52=Hold,SUM('Cash Flows'!$F$105:L$105),0)","v":0},{"$f":"IF(M52=Hold,SUM('Cash Flows'!$F$105:M$105),0)","v":0},{"$f":"IF(N52=Hold,SUM('Cash Flows'!$F$105:N$105),0)","v":0},{"$f":"IF(O52=Hold,SUM('Cash Flows'!$F$105:O$105),0)","v":0}]
[null,"Cost Recovery (Depreciation) Taken",null,null,null,{"$f":"IF(F52=Hold,SUM('Cash Flows'!$F$126:F$126)*-1,0)","v":0},{"$f":"IF(G52=Hold,SUM('Cash Flows'!$F$126:G$126)*-1,0)","v":0},{"$f":"IF(H52=Hold,SUM('Cash Flows'!$F$126:H$126)*-1,0)","v":0},{"$f":"IF(I52=Hold,SUM('Cash Flows'!$F$126:I$126)*-1,0)","v":0},{"$f":"IF(J52=Hold,SUM('Cash Flows'!$F$126:J$126)*-1,0)","v":0},{"$f":"IF(K52=Hold,SUM('Cash Flows'!$F$126:K$126)*-1,0)","v":0},{"$f":"IF(L52=Hold,SUM('Cash Flows'!$F$126:L$126)*-1,0)","v":0},{"$f":"IF(M52=Hold,SUM('Cash Flows'!$F$126:M$126)*-1,0)","v":0},{"$f":"IF(N52=Hold,SUM('Cash Flows'!$F$126:N$126)*-1,0)","v":0},{"$f":"IF(O52=Hold,SUM('Cash Flows'!$F$126:O$126)*-1,0)","v":0}]
[null,"Adjusted Basis at Sale",null,null,null,{"$f":"SUM(F54:F56)","v":0},{"$f":"SUM(G54:G56)","v":0},0,0,0,0,0,0,0,0]
[]
[null,"Capital Gain Calculation"]
[null,"Sale Price",null,null,null,{"$f":"F10","v":0},0,0,0,0,0,0,0,0,10737092.240713825]
[null,"Less Cost of Sale",null,null,null,{"$f":"F11","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less Adjusted Basis at Sale",null,null,null,{"$f":"IF(F52=Hold,SUM($F$57:F57)*-1,0)","v":0},{"$f":"IF(G52=Hold,SUM($F$57:G57)*-1,0)","v":0},{"$f":"IF(H52=Hold,SUM($F$57:H57)*-1,0)","v":0},{"$f":"IF(I52=Hold,SUM($F$57:I57)*-1,0)","v":0},{"$f":"IF(J52=Hold,SUM($F$57:J57)*-1,0)","v":0},{"$f":"IF(K52=Hold,SUM($F$57:K57)*-1,0)","v":0},{"$f":"IF(L52=Hold,SUM($F$57:L57)*-1,0)","v":0},{"$f":"IF(M52=Hold,SUM($F$57:M57)*-1,0)","v":0},{"$f":"IF(N52=Hold,SUM($F$57:N57)*-1,0)","v":0},{"$f":"IF(O52=Hold,SUM($F$57:O57)*-1,0)","v":0}]
[null,"Gain (Loss)",null,null,null,{"$f":"SUM(F60:F62)","v":0},{"$f":"SUM(G60:G62)","v":0},0,0,0,0,0,0,0,10737092.240713825]
[null,"Straight Line Cost Recovery (Limited to Gain)",null,null,null,{"$f":"IF(F63<=0,0,IF(F63<SUM($F$56:F56)*-1,F63,SUM($F$56:F56)*-1))","v":0},{"$f":"IF(G63<=0,0,IF(G63<SUM($F$56:G56)*-1,G63,SUM($F$56:G56)*-1))","v":0},{"$f":"IF(H63<=0,0,IF(H63<SUM($F$56:H56)*-1,H63,SUM($F$56:H56)*-1))","v":0},{"$f":"IF(I63<=0,0,IF(I63<SUM($F$56:I56)*-1,I63,SUM($F$56:I56)*-1))","v":0},{"$f":"IF(J63<=0,0,IF(J63<SUM($F$56:J56)*-1,J63,SUM($F$56:J56)*-1))","v":0},{"$f":"IF(K63<=0,0,IF(K63<SUM($F$56:K56)*-1,K63,SUM($F$56:K56)*-1))","v":0},{"$f":"IF(L63<=0,0,IF(L63<SUM($F$56:L56)*-1,L63,SUM($F$56:L56)*-1))","v":0},{"$f":"IF(M63<=0,0,IF(M63<SUM($F$56:M56)*-1,M63,SUM($F$56:M56)*-1))","v":0},{"$f":"IF(N63<=0,0,IF(N63<SUM($F$56:N56)*-1,N63,SUM($F$56:N56)*-1))","v":0},{"$f":"IF(O63<=0,0,IF(O63<SUM($F$56:O56)*-1,O63,SUM($F$56:O56)*-1))","v":0}]
[null,"Capital Gain from Appreciation",null,null,null,{"$f":"IF(F63<=0,0,F63-F64)","v":0},{"$f":"IF(G63<=0,0,G63-G64)","v":0},0,0,0,0,0,0,0,10737092.240713825]
[null,"Unamortized Loan Fees (Costs)",null,null,null,{"$f":"IF(F52=Hold,SUM('Cash Flows'!G$127:$P$127)*-1,0)","v":0},{"$f":"IF(G52=Hold,SUM('Cash Flows'!H$127:$P$127)*-1,0)","v":0},{"$f":"IF(H52=Hold,SUM('Cash Flows'!I$127:$P$127)*-1,0)","v":0},{"$f":"IF(I52=Hold,SUM('Cash Flows'!J$127:$P$127)*-1,0)","v":0},{"$f":"IF(J52=Hold,SUM('Cash Flows'!K$127:$P$127)*-1,0)","v":0},{"$f":"IF(K52=Hold,SUM('Cash Flows'!L$127:$P$127)*-1,0)","v":0},{"$f":"IF(L52=Hold,SUM('Cash Flows'!M$127:$P$127)*-1,0)","v":0},{"$f":"IF(M52=Hold,SUM('Cash Flows'!N$127:$P$127)*-1,0)","v":0},{"$f":"IF(N52=Hold,SUM('Cash Flows'!O$127:$P$127)*-1,0)","v":0},{"$f":"IF(O52=Hold,SUM('Cash Flows'!P$127:$P$127)*-1,0)","v":0}]
[]
[null,"Sale Proceeds Calculation"]
[null,"Sale Price",null,null,null,{"$f":"F60","v":0},{"$f":"G60","v":0},0,0,0,0,0,0,0,10737092.240713825]
[null,"Less Cost of Sale",null,null,null,{"$f":"F61","v":0},{"$f":"G61","v":0},0,0,0,0,0,0,0,0]
[null,"Less Mortgage Exit Fee",null,null,null,{"$f":"F72*Loan_Exit_Fee","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less Mortgage Balance",null,null,null,{"$f":"F35","v":0},0,0,0,0,0,0,0,0,0]
[null,"Sale Proceeds Before Tax",null,null,null,{"$f":"SUM(F69:F72)","v":0},{"$f":"SUM(G69:G72)","v":0},0,0,0,0,0,0,0,10737092.240713825]
[null,{"$f":"\"Less Tax on Ordinary Income at \"&ROUND(Tax_Ordinary*100,0)&\"%\"","v":"Less Tax on Ordinary Income at 35%"},null,null,null,{"$f":"-F66*Tax_Ordinary","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"\"Less Tax on Cost Recovery Recapture at \"&ROUND(Tax_CR*100,0)&\"%\"","v":"Less Tax on Cost Recovery Recapture at 25%"},null,null,null,{"$f":"-F64*Tax_CR","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"\"Less Tax on Capital Gain at \"&ROUND(Tax_CG*100,0)&\"%\"","v":"Less Tax on Capital Gain at 20%"},null,null,null,{"$f":"-F65*Tax_CG","v":0},0,0,0,0,0,0,0,0,-2147418.4481427651]
[null,"Sale Proceeds After Tax",null,null,null,{"$f":"SUM(F73:F76)","v":0},{"$f":"SUM(G73:G76)","v":0},0,0,0,0,0,0,0,8589673.7925710604]
[]
[null,"Proceeds After Taxes"]
[null,"Cash Flow Before Taxes",null,null,null,{"$f":"IF(F$52<=Hold,'Cash Flows'!F$121,0)","v":515106.375},{"$f":"IF(G$52<=Hold,'Cash Flows'!G$121,0)","v":822908.71499999985},{"$f":"IF(H$52<=Hold,'Cash Flows'!H$121,0)","v":847595.97644999996},{"$f":"IF(I$52<=Hold,'Cash Flows'!I$121,0)","v":873023.85574349994},{"$f":"IF(J$52<=Hold,'Cash Flows'!J$121,0)","v":899214.57141580491},{"$f":"IF(K$52<=Hold,'Cash Flows'!K$121,0)","v":926191.00855827914},{"$f":"IF(L$52<=Hold,'Cash Flows'!L$121,0)","v":953976.73881502752},{"$f":"IF(M$52<=Hold,'Cash Flows'!M$121,0)","v":982596.04097947839},{"$f":"IF(N$52<=Hold,'Cash Flows'!N$121,0)","v":1012073.9222088627},{"$f":"IF(O$52<=Hold,'Cash Flows'!O$121,0)","v":1042436.1398751285}]
[null,"Less: Annual Operating Tax Liability ",null,null,null,{"$f":"IF(F$52<=Hold,'Cash Flows'!F$129,0)","v":-180287.23124999998},{"$f":"IF(G$52<=Hold,'Cash Flows'!G$129,0)","v":-288018.05024999991},{"$f":"IF(H$52<=Hold,'Cash Flows'!H$129,0)","v":-296658.59175749996},{"$f":"IF(I$52<=Hold,'Cash Flows'!I$129,0)","v":-305558.34951022494},{"$f":"IF(J$52<=Hold,'Cash Flows'!J$129,0)","v":-314725.09999553172},{"$f":"IF(K$52<=Hold,'Cash Flows'!K$129,0)","v":-324166.8529953977},{"$f":"IF(L$52<=Hold,'Cash Flows'!L$129,0)","v":-333891.85858525959},{"$f":"IF(M$52<=Hold,'Cash Flows'!M$129,0)","v":-343908.6143428174},{"$f":"IF(N$52<=Hold,'Cash Flows'!N$129,0)","v":-354225.87277310196},{"$f":"IF(O$52<=Hold,'Cash Flows'!O$129,0)","v":-364852.64895629499}]
[null,"Draw from Operating Reserve",null,null,null,{"$f":"IF(F$52<=Hold,'Cash Flows'!F$131,0)","v":0},{"$f":"IF(G$52<=Hold,'Cash Flows'!G$131,0)","v":0},{"$f":"IF(H$52<=Hold,'Cash Flows'!H$131,0)","v":0},{"$f":"IF(I$52<=Hold,'Cash Flows'!I$131,0)","v":0},{"$f":"IF(J$52<=Hold,'Cash Flows'!J$131,0)","v":0},{"$f":"IF(K$52<=Hold,'Cash Flows'!K$131,0)","v":0},{"$f":"IF(L$52<=Hold,'Cash Flows'!L$131,0)","v":0},{"$f":"IF(M$52<=Hold,'Cash Flows'!M$131,0)","v":0},{"$f":"IF(N$52<=Hold,'Cash Flows'!N$131,0)","v":0},{"$f":"IF(O$52<=Hold,'Cash Flows'!O$131,0)","v":0}]
[null,"Cash Flow After Taxes",null,null,null,{"$f":"SUM(F80:F82)","v":334819.14375000005},{"$f":"SUM(G80:G82)","v":534890.66475},550937.3846925,567465.50623327494,584489.47142027318,602024.15556288138,620084.88022976788,638687.42663666094,657848.04943576083,677583.49091883353]
[null,"Sale Proceeds After Taxes",null,null,null,{"$f":"F77","v":0},{"$f":"G77","v":0},0,0,0,0,0,0,0,8589673.7925710604]
[null,"Annual Proceeds After Taxes",null,null,{"$f":"-Equity_Amount","v":0},{"$f":"SUM(F83:F84)","v":334819.14375000005},{"$f":"SUM(G83:G84)","v":534890.66475},550937.3846925,567465.50623327494,584489.47142027318,602024.15556288138,620084.88022976788,638687.42663666094,657848.04943576083,9267257.2834898941]
[null,"Cash on Cash Return",null,null,null,{"$f":"IFERROR(F83/Equity_Amount,\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[]
[null,"Net Cash Flows",{"$f":"SUM(E85:O85)","v":14358503.966201013}]
[null,{"$f":"\"Net Present Value at \"&ROUND(Equity_Rate*100,2)&\"%\"","v":"Net Present Value at 10%"},{"$f":"SUM(E85,NPV(Equity_Rate,F85:O85))","v":6718776.9816195834}]
[null,"Effective Tax Rate",{"$f":"IFERROR(IF(C42=0,0,(C42-C91)/C42),\"-\")","v":"-"}]
[null,"After Tax Leveraged IRR",{"$f":"IFERROR(IRR(E85:O85),\"-\")","v":"-"}]
[null,"Avg. Operating Cash on Cash",{"$f":"IFERROR((SUM(F83:O83)/Hold)/Equity_Amount,\"-\")","v":"-"}]
[null,"Avg. Cash on Cash",{"$f":"IFERROR((SUM(F85:O85)/Hold)/Equity_Amount,\"-\")","v":"-"}]
[null,{"$f":"\"Present Value of Cash Flows at \"&ROUND(Equity_Rate*100,0)&\"%\"","v":"Present Value of Cash Flows at 10%"},{"$f":"NPV(Equity_Rate,F85:O85)","v":6718776.9816195834}]
[null,"Plus: Original Loan Amount",{"$f":"Loan_Amount","v":0}]
[null,"Total After Tax Leveraged Present Value",{"$f":"SUM(C94:C95)","v":6718776.9816195834}]
[null,{"$f":"IF(LEN(C97)>=7,\"Rounded ($10,000's)\",\"Rounded ($1,000's)\")","v":"Rounded ($10,000's)"},{"$f":"IF(LEN(INT(C96))>=7,ROUND(C96,-4),ROUND(C96,-3))","v":6720000}]
[null,{"$f":"IF(Property_Use=\"Commercial\",\"Per Square Feet\",\"Per Unit\")","v":"Per Unit"},{"$f":"IFERROR(C97/Size_Total,0)","v":67200}]
[]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]
[null,"This pro forma does not constitute tax advice.  Please consult a professional tax advisor."]

{"sheet":"Loan Amortization","index":9,"n_rows":170,"n_cols":15,"rows_kept":170,"cut":false,"hidden":false,"merged":[[45,8,45,9],[2,1,2,9],[4,7,4,8],[43,8,43,9],[44,8,44,9],[4,2,4,3]]}
[]
[]
[null,"Loan Amortization Schedule"]
[]
[null,null,"Interest Only Loan",null,null,null,null,"Amortizing Loan"]
[null,null,"Loan Amount",{"$f":"IF(Loan_IO_Approval=\"no\",\"-\",Loan_Amount)","v":"-"},null,null,null,"Loan Amount",{"$f":"Loan_Amount_Amortizing","v":0}]
[null,null,"Term",{"$f":"IF(Loan_IO_Approval=\"no\",\"-\",Loan_IO_Term)","v":"-"},null,null,null,"Term",{"$f":"Loan_Amor_Term","v":0}]
[null,null,"Rate",{"$f":"IF(Loan_IO_Approval=\"no\",\"-\",Loan_IO_Rate)","v":"-"},null,null,null,"Amortization",{"$f":"Loan_Amortization","v":0}]
[null,null,"Funding Status",{"$f":"IF(Loan_IO_Approval=\"no\",\"-\",IF(Loan_IO_Status=0,\"Fund Up (Default)\",Loan_IO_Status))","v":"-"},null,null,null,"Rate",{"$f":"Loan_Amor_Rate","v":0}]
[null,null,null,null,null,null,null,"Rate Type",{"$f":"Loan_Amor_Type","v":"Fixed"}]
[]
[null,"Annual Summary"]
[null,"Period","Dates","Loan Type","Effective Rate","Beginning Balance","Interest","Principal","Total Payments","Ending Balance",null,"IO Interest Due","I/O Interest Due","Spent","Ending Budget"]
[null,1,{"$f":"RPMDateSpan(B14,1)","v":"Jan 22 - Dec 22"},{"$f":"IFERROR(RPMAnnualLoanType(B14),\"Enable Macros\")","v":"Partial Amor."},{"$f":"IFERROR(RPMAnnualRate(B14,D14,F14,I14,J14),\"Enable Macros\")","v":0},{"$f":"VLOOKUP((B14*12)-11,Amortization_Schedule_Monthly,5,FALSE)","v":0},{"$f":"SUM(OFFSET($G$51:$G$62,(B14-1)*12,0))","v":0},{"$f":"SUM(OFFSET($H$51:$H$62,(B14-1)*12,0))","v":0},{"$f":"SUM(G14:H14)","v":0},{"$f":"VLOOKUP(B14*12,Amortization_Schedule_Monthly,9,FALSE)","v":0},null,{"$f":"SUM(IF(B14>Hold,0,IF($B$51:$B$170>($B14-1)*12,IF($B$51:$B$170<=$B14*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},{"$f":"Loan_IO_IntCarry","v":100000},{"$f":"IF(M14>=L14,L14,M14)*-1","v":0},{"$f":"SUM(M14:N14)","v":100000}]
[null,2,{"$f":"RPMDateSpan(B15,1)","v":"Jan 23 - Dec 23"},{"$f":"IFERROR(RPMAnnualLoanType(B15),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B15,D15,F15,I15,J15),\"Enable Macros\")","v":"-"},0,{"$f":"SUM(OFFSET($G$51:$G$62,(B15-1)*12,0))","v":0},{"$f":"SUM(OFFSET($H$51:$H$62,(B15-1)*12,0))","v":0},{"$f":"SUM(G15:H15)","v":0},0,null,{"$f":"SUM(IF(B15>Hold,0,IF($B$51:$B$170>($B15-1)*12,IF($B$51:$B$170<=$B15*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},{"$f":"O14","v":100000},{"$f":"IF(M15>=L15,L15,M15)*-1","v":0},{"$f":"SUM(M15:N15)","v":100000}]
[null,3,"Jan 24 - Dec 24",{"$f":"IFERROR(RPMAnnualLoanType(B16),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B16,D16,F16,I16,J16),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B16>Hold,0,IF($B$51:$B$170>($B16-1)*12,IF($B$51:$B$170<=$B16*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},{"$f":"O15","v":100000},{"$f":"IF(M16>=L16,L16,M16)*-1","v":0},{"$f":"SUM(M16:N16)","v":100000}]
[null,4,"Jan 25 - Dec 25",{"$f":"IFERROR(RPMAnnualLoanType(B17),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B17,D17,F17,I17,J17),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B17>Hold,0,IF($B$51:$B$170>($B17-1)*12,IF($B$51:$B$170<=$B17*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},100000,0,100000]
[null,5,"Jan 26 - Dec 26",{"$f":"IFERROR(RPMAnnualLoanType(B18),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B18,D18,F18,I18,J18),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B18>Hold,0,IF($B$51:$B$170>($B18-1)*12,IF($B$51:$B$170<=$B18*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},100000,0,100000]
[null,6,"Jan 27 - Dec 27",{"$f":"IFERROR(RPMAnnualLoanType(B19),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B19,D19,F19,I19,J19),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B19>Hold,0,IF($B$51:$B$170>($B19-1)*12,IF($B$51:$B$170<=$B19*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},100000,0,100000]
[null,7,"Jan 28 - Dec 28",{"$f":"IFERROR(RPMAnnualLoanType(B20),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B20,D20,F20,I20,J20),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B20>Hold,0,IF($B$51:$B$170>($B20-1)*12,IF($B$51:$B$170<=$B20*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},100000,0,100000]
[null,8,"Jan 29 - Dec 29",{"$f":"IFERROR(RPMAnnualLoanType(B21),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B21,D21,F21,I21,J21),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B21>Hold,0,IF($B$51:$B$170>($B21-1)*12,IF($B$51:$B$170<=$B21*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},100000,0,100000]
[null,9,"Jan 30 - Dec 30",{"$f":"IFERROR(RPMAnnualLoanType(B22),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B22,D22,F22,I22,J22),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B22>Hold,0,IF($B$51:$B$170>($B22-1)*12,IF($B$51:$B$170<=$B22*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},100000,0,100000]
[null,10,"Jan 31 - Dec 31",{"$f":"IFERROR(RPMAnnualLoanType(B23),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMAnnualRate(B23,D23,F23,I23,J23),\"Enable Macros\")","v":"-"},0,0,0,0,0,null,{"$f":"SUM(IF(B23>Hold,0,IF($B$51:$B$170>($B23-1)*12,IF($B$51:$B$170<=$B23*12,IF($D$51:$D$170=\"I/O\",$G$51:$G$170,0),0),0)))","v":0},100000,0,100000]
[null,"Total",null,null,{"$f":"IFERROR(RATE(Hold*12,-I24/(Hold*12),Loan_Amount,-VLOOKUP(Hold,Amortization_Schedule_Annual,9,FALSE))*12,\"-\")","v":"-"},"-",{"$f":"SUMPRODUCT(--($B$14:$B$23<=Hold),G14:G23)","v":0},{"$f":"SUMPRODUCT(--($B$14:$B$23<=Hold),H14:H23)","v":0},{"$f":"SUMPRODUCT(--($B$14:$B$23<=Hold),I14:I23)","v":0},"-"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,"www.realpropmetrics.com"]
[null,null,null,null,null,null,null,null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,null,null,null,null,null,null,null,{"$f":"TODAY()","v":"2022-02-23"}]
[]
[]
[null,"Monthly Summary"]
[null,"Month","Date","Loan Type","Interest Rate","Beginning Balance","Interest","Principal","Total Payment","Ending Balance"]
[null,1,{"$f":"RPMDateSpan(B51,3)","v":"Jan 2022"},{"$f":"IFERROR(RPMLoanType(B51),\"Enable Macros\")","v":"I/O"},{"$f":"IFERROR(RPMInterestRate(B51),\"Enable Macros\")","v":0},{"$f":"IFERROR(RPMBeginningBalance(B51,D51),\"Enable Macros\")","v":0},{"$f":"F51*(RPMCanadian(D51,E51)/12)","v":0},{"$f":"I51-G51","v":0},{"$f":"IFERROR(RPMTotalPayment(B51,D51,E51,F51),\"Enable Macros\")","v":0},{"$f":"IF(B51<=SUM(Loan_Amortization,Loan_IO_Term),F51-H51,0)","v":0}]
[null,2,{"$f":"RPMDateSpan(B52,3)","v":"Feb 2022"},{"$f":"IFERROR(RPMLoanType(B52),\"Enable Macros\")","v":"I/O"},{"$f":"IFERROR(RPMInterestRate(B52),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B52,D52,J51)","v":0},{"$f":"F52*(RPMCanadian(D52,E52)/12)","v":0},{"$f":"I52-G52","v":0},{"$f":"IFERROR(RPMTotalPayment(B52,D52,E52,F52),\"Enable Macros\")","v":0},0]
[null,3,"Mar 2022",{"$f":"IFERROR(RPMLoanType(B53),\"Enable Macros\")","v":"I/O"},{"$f":"IFERROR(RPMInterestRate(B53),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B53,D53,J52)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B53,D53,E53,F53),\"Enable Macros\")","v":0},0]
[null,4,"Apr 2022",{"$f":"IFERROR(RPMLoanType(B54),\"Enable Macros\")","v":"I/O"},{"$f":"IFERROR(RPMInterestRate(B54),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B54,D54,J53)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B54,D54,E54,F54),\"Enable Macros\")","v":0},0]
[null,5,"May 2022",{"$f":"IFERROR(RPMLoanType(B55),\"Enable Macros\")","v":"I/O"},{"$f":"IFERROR(RPMInterestRate(B55),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B55,D55,J54)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B55,D55,E55,F55),\"Enable Macros\")","v":0},0]
[null,6,"Jun 2022",{"$f":"IFERROR(RPMLoanType(B56),\"Enable Macros\")","v":"I/O"},{"$f":"IFERROR(RPMInterestRate(B56),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B56,D56,J55)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B56,D56,E56,F56),\"Enable Macros\")","v":0},0]
[null,7,"Jul 2022",{"$f":"IFERROR(RPMLoanType(B57),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B57),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B57,D57,J56)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B57,D57,E57,F57),\"Enable Macros\")","v":0},0]
[null,8,"Aug 2022",{"$f":"IFERROR(RPMLoanType(B58),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B58),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B58,D58,J57)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B58,D58,E58,F58),\"Enable Macros\")","v":0},0]
[null,9,"Sep 2022",{"$f":"IFERROR(RPMLoanType(B59),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B59),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B59,D59,J58)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B59,D59,E59,F59),\"Enable Macros\")","v":0},0]
[null,10,"Oct 2022",{"$f":"IFERROR(RPMLoanType(B60),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B60),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B60,D60,J59)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B60,D60,E60,F60),\"Enable Macros\")","v":0},0]
[null,11,"Nov 2022",{"$f":"IFERROR(RPMLoanType(B61),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B61),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B61,D61,J60)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B61,D61,E61,F61),\"Enable Macros\")","v":0},0]
[null,12,"Dec 2022",{"$f":"IFERROR(RPMLoanType(B62),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B62),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B62,D62,J61)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B62,D62,E62,F62),\"Enable Macros\")","v":0},0]
[null,13,"Jan 2023",{"$f":"IFERROR(RPMLoanType(B63),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B63),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B63,D63,J62)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B63,D63,E63,F63),\"Enable Macros\")","v":0},0]
[null,14,"Feb 2023",{"$f":"IFERROR(RPMLoanType(B64),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B64),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B64,D64,J63)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B64,D64,E64,F64),\"Enable Macros\")","v":0},0]
[null,15,"Mar 2023",{"$f":"IFERROR(RPMLoanType(B65),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B65),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B65,D65,J64)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B65,D65,E65,F65),\"Enable Macros\")","v":0},0]
[null,16,"Apr 2023",{"$f":"IFERROR(RPMLoanType(B66),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B66),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B66,D66,J65)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B66,D66,E66,F66),\"Enable Macros\")","v":0},0]
[null,17,"May 2023",{"$f":"IFERROR(RPMLoanType(B67),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B67),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B67,D67,J66)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B67,D67,E67,F67),\"Enable Macros\")","v":0},0]
[null,18,"Jun 2023",{"$f":"IFERROR(RPMLoanType(B68),\"Enable Macros\")","v":"Amortizing"},{"$f":"IFERROR(RPMInterestRate(B68),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B68,D68,J67)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B68,D68,E68,F68),\"Enable Macros\")","v":0},0]
[null,19,"Jul 2023",{"$f":"IFERROR(RPMLoanType(B69),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B69),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B69,D69,J68)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B69,D69,E69,F69),\"Enable Macros\")","v":0},0]
[null,20,"Aug 2023",{"$f":"IFERROR(RPMLoanType(B70),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B70),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B70,D70,J69)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B70,D70,E70,F70),\"Enable Macros\")","v":0},0]
[null,21,"Sep 2023",{"$f":"IFERROR(RPMLoanType(B71),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B71),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B71,D71,J70)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B71,D71,E71,F71),\"Enable Macros\")","v":0},0]
[null,22,"Oct 2023",{"$f":"IFERROR(RPMLoanType(B72),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B72),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B72,D72,J71)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B72,D72,E72,F72),\"Enable Macros\")","v":0},0]
[null,23,"Nov 2023",{"$f":"IFERROR(RPMLoanType(B73),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B73),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B73,D73,J72)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B73,D73,E73,F73),\"Enable Macros\")","v":0},0]
[null,24,"Dec 2023",{"$f":"IFERROR(RPMLoanType(B74),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B74),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B74,D74,J73)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B74,D74,E74,F74),\"Enable Macros\")","v":0},0]
[null,25,"Jan 2024",{"$f":"IFERROR(RPMLoanType(B75),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B75),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B75,D75,J74)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B75,D75,E75,F75),\"Enable Macros\")","v":0},0]
[null,26,"Feb 2024",{"$f":"IFERROR(RPMLoanType(B76),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B76),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B76,D76,J75)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B76,D76,E76,F76),\"Enable Macros\")","v":0},0]
[null,27,"Mar 2024",{"$f":"IFERROR(RPMLoanType(B77),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B77),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B77,D77,J76)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B77,D77,E77,F77),\"Enable Macros\")","v":0},0]
[null,28,"Apr 2024",{"$f":"IFERROR(RPMLoanType(B78),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B78),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B78,D78,J77)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B78,D78,E78,F78),\"Enable Macros\")","v":0},0]
[null,29,"May 2024",{"$f":"IFERROR(RPMLoanType(B79),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B79),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B79,D79,J78)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B79,D79,E79,F79),\"Enable Macros\")","v":0},0]
[null,30,"Jun 2024",{"$f":"IFERROR(RPMLoanType(B80),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B80),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B80,D80,J79)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B80,D80,E80,F80),\"Enable Macros\")","v":0},0]
[null,31,"Jul 2024",{"$f":"IFERROR(RPMLoanType(B81),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B81),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B81,D81,J80)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B81,D81,E81,F81),\"Enable Macros\")","v":0},0]
[null,32,"Aug 2024",{"$f":"IFERROR(RPMLoanType(B82),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B82),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B82,D82,J81)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B82,D82,E82,F82),\"Enable Macros\")","v":0},0]
[null,33,"Sep 2024",{"$f":"IFERROR(RPMLoanType(B83),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B83),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B83,D83,J82)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B83,D83,E83,F83),\"Enable Macros\")","v":0},{"$f":"IF(B83<=SUM(Loan_Amortization,Loan_IO_Term),F83-H83,0)","v":0}]
[null,34,"Oct 2024",{"$f":"IFERROR(RPMLoanType(B84),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B84),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B84,D84,J83)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B84,D84,E84,F84),\"Enable Macros\")","v":0},0]
[null,35,"Nov 2024",{"$f":"IFERROR(RPMLoanType(B85),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B85),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B85,D85,J84)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B85,D85,E85,F85),\"Enable Macros\")","v":0},0]
[null,36,"Dec 2024",{"$f":"IFERROR(RPMLoanType(B86),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B86),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B86,D86,J85)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B86,D86,E86,F86),\"Enable Macros\")","v":0},0]
[null,37,"Jan 2025",{"$f":"IFERROR(RPMLoanType(B87),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B87),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B87,D87,J86)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B87,D87,E87,F87),\"Enable Macros\")","v":0},0]
[null,38,"Feb 2025",{"$f":"IFERROR(RPMLoanType(B88),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B88),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B88,D88,J87)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B88,D88,E88,F88),\"Enable Macros\")","v":0},0]
[null,39,"Mar 2025",{"$f":"IFERROR(RPMLoanType(B89),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B89),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B89,D89,J88)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B89,D89,E89,F89),\"Enable Macros\")","v":0},0]
[null,40,"Apr 2025",{"$f":"IFERROR(RPMLoanType(B90),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B90),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B90,D90,J89)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B90,D90,E90,F90),\"Enable Macros\")","v":0},0]
[null,41,"May 2025",{"$f":"IFERROR(RPMLoanType(B91),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B91),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B91,D91,J90)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B91,D91,E91,F91),\"Enable Macros\")","v":0},0]
[null,42,"Jun 2025",{"$f":"IFERROR(RPMLoanType(B92),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B92),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B92,D92,J91)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B92,D92,E92,F92),\"Enable Macros\")","v":0},0]
[null,43,"Jul 2025",{"$f":"IFERROR(RPMLoanType(B93),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B93),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B93,D93,J92)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B93,D93,E93,F93),\"Enable Macros\")","v":0},0]
[null,44,"Aug 2025",{"$f":"IFERROR(RPMLoanType(B94),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B94),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B94,D94,J93)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B94,D94,E94,F94),\"Enable Macros\")","v":0},0]
[null,45,"Sep 2025",{"$f":"IFERROR(RPMLoanType(B95),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B95),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B95,D95,J94)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B95,D95,E95,F95),\"Enable Macros\")","v":0},0]
[null,46,"Oct 2025",{"$f":"IFERROR(RPMLoanType(B96),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B96),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B96,D96,J95)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B96,D96,E96,F96),\"Enable Macros\")","v":0},0]
[null,47,"Nov 2025",{"$f":"IFERROR(RPMLoanType(B97),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B97),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B97,D97,J96)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B97,D97,E97,F97),\"Enable Macros\")","v":0},0]
[null,48,"Dec 2025",{"$f":"IFERROR(RPMLoanType(B98),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B98),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B98,D98,J97)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B98,D98,E98,F98),\"Enable Macros\")","v":0},0]
[null,49,"Jan 2026",{"$f":"IFERROR(RPMLoanType(B99),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B99),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B99,D99,J98)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B99,D99,E99,F99),\"Enable Macros\")","v":0},0]
[null,50,"Feb 2026",{"$f":"IFERROR(RPMLoanType(B100),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B100),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B100,D100,J99)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B100,D100,E100,F100),\"Enable Macros\")","v":0},0]
[null,51,"Mar 2026",{"$f":"IFERROR(RPMLoanType(B101),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B101),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B101,D101,J100)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B101,D101,E101,F101),\"Enable Macros\")","v":0},0]
[null,52,"Apr 2026",{"$f":"IFERROR(RPMLoanType(B102),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B102),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B102,D102,J101)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B102,D102,E102,F102),\"Enable Macros\")","v":0},0]
[null,53,"May 2026",{"$f":"IFERROR(RPMLoanType(B103),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B103),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B103,D103,J102)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B103,D103,E103,F103),\"Enable Macros\")","v":0},0]
[null,54,"Jun 2026",{"$f":"IFERROR(RPMLoanType(B104),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B104),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B104,D104,J103)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B104,D104,E104,F104),\"Enable Macros\")","v":0},0]
[null,55,"Jul 2026",{"$f":"IFERROR(RPMLoanType(B105),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B105),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B105,D105,J104)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B105,D105,E105,F105),\"Enable Macros\")","v":0},0]
[null,56,"Aug 2026",{"$f":"IFERROR(RPMLoanType(B106),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B106),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B106,D106,J105)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B106,D106,E106,F106),\"Enable Macros\")","v":0},0]
[null,57,"Sep 2026",{"$f":"IFERROR(RPMLoanType(B107),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B107),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B107,D107,J106)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B107,D107,E107,F107),\"Enable Macros\")","v":0},0]
[null,58,"Oct 2026",{"$f":"IFERROR(RPMLoanType(B108),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B108),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B108,D108,J107)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B108,D108,E108,F108),\"Enable Macros\")","v":0},0]
[null,59,"Nov 2026",{"$f":"IFERROR(RPMLoanType(B109),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B109),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B109,D109,J108)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B109,D109,E109,F109),\"Enable Macros\")","v":0},0]
[null,60,"Dec 2026",{"$f":"IFERROR(RPMLoanType(B110),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B110),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B110,D110,J109)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B110,D110,E110,F110),\"Enable Macros\")","v":0},0]
[null,61,"Jan 2027",{"$f":"IFERROR(RPMLoanType(B111),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B111),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B111,D111,J110)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B111,D111,E111,F111),\"Enable Macros\")","v":0},0]
[null,62,"Feb 2027",{"$f":"IFERROR(RPMLoanType(B112),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B112),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B112,D112,J111)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B112,D112,E112,F112),\"Enable Macros\")","v":0},0]
[null,63,"Mar 2027",{"$f":"IFERROR(RPMLoanType(B113),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B113),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B113,D113,J112)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B113,D113,E113,F113),\"Enable Macros\")","v":0},0]
[null,64,"Apr 2027",{"$f":"IFERROR(RPMLoanType(B114),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B114),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B114,D114,J113)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B114,D114,E114,F114),\"Enable Macros\")","v":0},0]
[null,65,"May 2027",{"$f":"IFERROR(RPMLoanType(B115),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B115),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B115,D115,J114)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B115,D115,E115,F115),\"Enable Macros\")","v":0},{"$f":"IF(B115<=SUM(Loan_Amortization,Loan_IO_Term),F115-H115,0)","v":0}]
[null,66,{"$f":"RPMDateSpan(B116,3)","v":"Jun 2027"},{"$f":"IFERROR(RPMLoanType(B116),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B116),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B116,D116,J115)","v":0},{"$f":"F116*(RPMCanadian(D116,E116)/12)","v":0},{"$f":"I116-G116","v":0},{"$f":"IFERROR(RPMTotalPayment(B116,D116,E116,F116),\"Enable Macros\")","v":0},0]
[null,67,"Jul 2027",{"$f":"IFERROR(RPMLoanType(B117),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B117),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B117,D117,J116)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B117,D117,E117,F117),\"Enable Macros\")","v":0},0]
[null,68,"Aug 2027",{"$f":"IFERROR(RPMLoanType(B118),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B118),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B118,D118,J117)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B118,D118,E118,F118),\"Enable Macros\")","v":0},0]
[null,69,"Sep 2027",{"$f":"IFERROR(RPMLoanType(B119),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B119),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B119,D119,J118)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B119,D119,E119,F119),\"Enable Macros\")","v":0},0]
[null,70,"Oct 2027",{"$f":"IFERROR(RPMLoanType(B120),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B120),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B120,D120,J119)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B120,D120,E120,F120),\"Enable Macros\")","v":0},0]
[null,71,"Nov 2027",{"$f":"IFERROR(RPMLoanType(B121),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B121),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B121,D121,J120)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B121,D121,E121,F121),\"Enable Macros\")","v":0},0]
[null,72,"Dec 2027",{"$f":"IFERROR(RPMLoanType(B122),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B122),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B122,D122,J121)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B122,D122,E122,F122),\"Enable Macros\")","v":0},0]
[null,73,"Jan 2028",{"$f":"IFERROR(RPMLoanType(B123),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B123),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B123,D123,J122)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B123,D123,E123,F123),\"Enable Macros\")","v":0},0]
[null,74,"Feb 2028",{"$f":"IFERROR(RPMLoanType(B124),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B124),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B124,D124,J123)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B124,D124,E124,F124),\"Enable Macros\")","v":0},0]
[null,75,"Mar 2028",{"$f":"IFERROR(RPMLoanType(B125),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B125),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B125,D125,J124)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B125,D125,E125,F125),\"Enable Macros\")","v":0},0]
[null,76,"Apr 2028",{"$f":"IFERROR(RPMLoanType(B126),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B126),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B126,D126,J125)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B126,D126,E126,F126),\"Enable Macros\")","v":0},0]
[null,77,"May 2028",{"$f":"IFERROR(RPMLoanType(B127),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B127),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B127,D127,J126)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B127,D127,E127,F127),\"Enable Macros\")","v":0},0]
[null,78,"Jun 2028",{"$f":"IFERROR(RPMLoanType(B128),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B128),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B128,D128,J127)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B128,D128,E128,F128),\"Enable Macros\")","v":0},0]
[null,79,"Jul 2028",{"$f":"IFERROR(RPMLoanType(B129),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B129),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B129,D129,J128)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B129,D129,E129,F129),\"Enable Macros\")","v":0},0]
[null,80,"Aug 2028",{"$f":"IFERROR(RPMLoanType(B130),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B130),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B130,D130,J129)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B130,D130,E130,F130),\"Enable Macros\")","v":0},0]
[null,81,"Sep 2028",{"$f":"IFERROR(RPMLoanType(B131),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B131),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B131,D131,J130)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B131,D131,E131,F131),\"Enable Macros\")","v":0},0]
[null,82,"Oct 2028",{"$f":"IFERROR(RPMLoanType(B132),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B132),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B132,D132,J131)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B132,D132,E132,F132),\"Enable Macros\")","v":0},0]
[null,83,"Nov 2028",{"$f":"IFERROR(RPMLoanType(B133),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B133),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B133,D133,J132)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B133,D133,E133,F133),\"Enable Macros\")","v":0},0]
[null,84,"Dec 2028",{"$f":"IFERROR(RPMLoanType(B134),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B134),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B134,D134,J133)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B134,D134,E134,F134),\"Enable Macros\")","v":0},0]
[null,85,"Jan 2029",{"$f":"IFERROR(RPMLoanType(B135),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B135),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B135,D135,J134)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B135,D135,E135,F135),\"Enable Macros\")","v":0},0]
[null,86,"Feb 2029",{"$f":"IFERROR(RPMLoanType(B136),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B136),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B136,D136,J135)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B136,D136,E136,F136),\"Enable Macros\")","v":0},0]
[null,87,"Mar 2029",{"$f":"IFERROR(RPMLoanType(B137),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B137),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B137,D137,J136)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B137,D137,E137,F137),\"Enable Macros\")","v":0},0]
[null,88,"Apr 2029",{"$f":"IFERROR(RPMLoanType(B138),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B138),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B138,D138,J137)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B138,D138,E138,F138),\"Enable Macros\")","v":0},0]
[null,89,"May 2029",{"$f":"IFERROR(RPMLoanType(B139),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B139),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B139,D139,J138)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B139,D139,E139,F139),\"Enable Macros\")","v":0},0]
[null,90,"Jun 2029",{"$f":"IFERROR(RPMLoanType(B140),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B140),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B140,D140,J139)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B140,D140,E140,F140),\"Enable Macros\")","v":0},0]
[null,91,"Jul 2029",{"$f":"IFERROR(RPMLoanType(B141),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B141),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B141,D141,J140)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B141,D141,E141,F141),\"Enable Macros\")","v":0},0]
[null,92,"Aug 2029",{"$f":"IFERROR(RPMLoanType(B142),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B142),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B142,D142,J141)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B142,D142,E142,F142),\"Enable Macros\")","v":0},0]
[null,93,"Sep 2029",{"$f":"IFERROR(RPMLoanType(B143),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B143),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B143,D143,J142)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B143,D143,E143,F143),\"Enable Macros\")","v":0},0]
[null,94,"Oct 2029",{"$f":"IFERROR(RPMLoanType(B144),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B144),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B144,D144,J143)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B144,D144,E144,F144),\"Enable Macros\")","v":0},0]
[null,95,"Nov 2029",{"$f":"IFERROR(RPMLoanType(B145),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B145),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B145,D145,J144)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B145,D145,E145,F145),\"Enable Macros\")","v":0},0]
[null,96,"Dec 2029",{"$f":"IFERROR(RPMLoanType(B146),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B146),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B146,D146,J145)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B146,D146,E146,F146),\"Enable Macros\")","v":0},0]
[null,97,"Jan 2030",{"$f":"IFERROR(RPMLoanType(B147),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B147),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B147,D147,J146)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B147,D147,E147,F147),\"Enable Macros\")","v":0},{"$f":"IF(B147<=SUM(Loan_Amortization,Loan_IO_Term),F147-H147,0)","v":0}]
[null,98,"Feb 2030",{"$f":"IFERROR(RPMLoanType(B148),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B148),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B148,D148,J147)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B148,D148,E148,F148),\"Enable Macros\")","v":0},0]
[null,99,"Mar 2030",{"$f":"IFERROR(RPMLoanType(B149),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B149),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B149,D149,J148)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B149,D149,E149,F149),\"Enable Macros\")","v":0},0]
[null,100,"Apr 2030",{"$f":"IFERROR(RPMLoanType(B150),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B150),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B150,D150,J149)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B150,D150,E150,F150),\"Enable Macros\")","v":0},0]
[null,101,"May 2030",{"$f":"IFERROR(RPMLoanType(B151),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B151),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B151,D151,J150)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B151,D151,E151,F151),\"Enable Macros\")","v":0},0]
[null,102,"Jun 2030",{"$f":"IFERROR(RPMLoanType(B152),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B152),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B152,D152,J151)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B152,D152,E152,F152),\"Enable Macros\")","v":0},0]
[null,103,"Jul 2030",{"$f":"IFERROR(RPMLoanType(B153),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B153),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B153,D153,J152)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B153,D153,E153,F153),\"Enable Macros\")","v":0},0]
[null,104,"Aug 2030",{"$f":"IFERROR(RPMLoanType(B154),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B154),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B154,D154,J153)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B154,D154,E154,F154),\"Enable Macros\")","v":0},0]
[null,105,"Sep 2030",{"$f":"IFERROR(RPMLoanType(B155),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B155),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B155,D155,J154)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B155,D155,E155,F155),\"Enable Macros\")","v":0},0]
[null,106,"Oct 2030",{"$f":"IFERROR(RPMLoanType(B156),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B156),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B156,D156,J155)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B156,D156,E156,F156),\"Enable Macros\")","v":0},0]
[null,107,"Nov 2030",{"$f":"IFERROR(RPMLoanType(B157),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B157),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B157,D157,J156)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B157,D157,E157,F157),\"Enable Macros\")","v":0},0]
[null,108,"Dec 2030",{"$f":"IFERROR(RPMLoanType(B158),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B158),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B158,D158,J157)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B158,D158,E158,F158),\"Enable Macros\")","v":0},0]
[null,109,"Jan 2031",{"$f":"IFERROR(RPMLoanType(B159),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B159),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B159,D159,J158)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B159,D159,E159,F159),\"Enable Macros\")","v":0},0]
[null,110,"Feb 2031",{"$f":"IFERROR(RPMLoanType(B160),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B160),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B160,D160,J159)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B160,D160,E160,F160),\"Enable Macros\")","v":0},0]
[null,111,"Mar 2031",{"$f":"IFERROR(RPMLoanType(B161),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B161),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B161,D161,J160)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B161,D161,E161,F161),\"Enable Macros\")","v":0},0]
[null,112,"Apr 2031",{"$f":"IFERROR(RPMLoanType(B162),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B162),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B162,D162,J161)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B162,D162,E162,F162),\"Enable Macros\")","v":0},0]
[null,113,"May 2031",{"$f":"IFERROR(RPMLoanType(B163),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B163),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B163,D163,J162)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B163,D163,E163,F163),\"Enable Macros\")","v":0},0]
[null,114,"Jun 2031",{"$f":"IFERROR(RPMLoanType(B164),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B164),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B164,D164,J163)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B164,D164,E164,F164),\"Enable Macros\")","v":0},0]
[null,115,"Jul 2031",{"$f":"IFERROR(RPMLoanType(B165),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B165),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B165,D165,J164)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B165,D165,E165,F165),\"Enable Macros\")","v":0},0]
[null,116,"Aug 2031",{"$f":"IFERROR(RPMLoanType(B166),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B166),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B166,D166,J165)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B166,D166,E166,F166),\"Enable Macros\")","v":0},0]
[null,117,"Sep 2031",{"$f":"IFERROR(RPMLoanType(B167),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B167),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B167,D167,J166)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B167,D167,E167,F167),\"Enable Macros\")","v":0},0]
[null,118,"Oct 2031",{"$f":"IFERROR(RPMLoanType(B168),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B168),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B168,D168,J167)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B168,D168,E168,F168),\"Enable Macros\")","v":0},0]
[null,119,"Nov 2031",{"$f":"IFERROR(RPMLoanType(B169),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B169),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B169,D169,J168)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B169,D169,E169,F169),\"Enable Macros\")","v":0},0]
[null,120,"Dec 2031",{"$f":"IFERROR(RPMLoanType(B170),\"Enable Macros\")","v":"Matured"},{"$f":"IFERROR(RPMInterestRate(B170),\"Enable Macros\")","v":0},{"$f":"RPMBeginningBalance(B170,D170,J169)","v":0},0,0,{"$f":"IFERROR(RPMTotalPayment(B170,D170,E170,F170),\"Enable Macros\")","v":0},0]

{"sheet":"Sources & Uses","index":10,"n_rows":39,"n_cols":14,"rows_kept":39,"cut":false,"hidden":false,"merged":[[36,1,36,13],[37,1,37,13],[38,1,38,13]]}
[]
[null,"Sources & Uses"]
[]
[null,"Period",0,1,2,3,4,5,6,7,8,9,10,"Total"]
[null,null,null,{"$f":"RPMDateSpan(D4,1)","v":"Jan 22 - Dec 22"},{"$f":"RPMDateSpan(E4,1)","v":"Jan 23 - Dec 23"},"Jan 24 - Dec 24","Jan 25 - Dec 25","Jan 26 - Dec 26","Jan 27 - Dec 27","Jan 28 - Dec 28","Jan 29 - Dec 29","Jan 30 - Dec 30","Jan 31 - Dec 31"]
[]
[null,"Sources Of Capital"]
[null,"Debt Proceeds",{"$f":"IF(AND(Loan_IO_Status=\"Fund Up\",Loan_IO_Term>0,Loan_IO_Approval=\"Yes\"),0,Loan_Amount)","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(D4*12<=Loan_IO_MonthFunded,VLOOKUP(D4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:C8),IF(AND(Loan_IO_MonthFunded>C4*12,Loan_IO_MonthFunded<=D4*12),Loan_Amount-SUM($C$8:C8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(E4*12<=Loan_IO_MonthFunded,VLOOKUP(E4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:D8),IF(AND(Loan_IO_MonthFunded>D4*12,Loan_IO_MonthFunded<=E4*12),Loan_Amount-SUM($C$8:D8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(F4*12<=Loan_IO_MonthFunded,VLOOKUP(F4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:E8),IF(AND(Loan_IO_MonthFunded>E4*12,Loan_IO_MonthFunded<=F4*12),Loan_Amount-SUM($C$8:E8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(G4*12<=Loan_IO_MonthFunded,VLOOKUP(G4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:F8),IF(AND(Loan_IO_MonthFunded>F4*12,Loan_IO_MonthFunded<=G4*12),Loan_Amount-SUM($C$8:F8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(H4*12<=Loan_IO_MonthFunded,VLOOKUP(H4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:G8),IF(AND(Loan_IO_MonthFunded>G4*12,Loan_IO_MonthFunded<=H4*12),Loan_Amount-SUM($C$8:G8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(I4*12<=Loan_IO_MonthFunded,VLOOKUP(I4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:H8),IF(AND(Loan_IO_MonthFunded>H4*12,Loan_IO_MonthFunded<=I4*12),Loan_Amount-SUM($C$8:H8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(J4*12<=Loan_IO_MonthFunded,VLOOKUP(J4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:I8),IF(AND(Loan_IO_MonthFunded>I4*12,Loan_IO_MonthFunded<=J4*12),Loan_Amount-SUM($C$8:I8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(K4*12<=Loan_IO_MonthFunded,VLOOKUP(K4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:J8),IF(AND(Loan_IO_MonthFunded>J4*12,Loan_IO_MonthFunded<=K4*12),Loan_Amount-SUM($C$8:J8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(L4*12<=Loan_IO_MonthFunded,VLOOKUP(L4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:K8),IF(AND(Loan_IO_MonthFunded>K4*12,Loan_IO_MonthFunded<=L4*12),Loan_Amount-SUM($C$8:K8),0)))","v":0},{"$f":"IF(OR(Loan_IO_Status<>\"Fund Up\",Loan_IO_Approval=\"No\"),0,IF(M4*12<=Loan_IO_MonthFunded,VLOOKUP(M4,Amortization_Schedule_Annual,9,FALSE)-SUM($C$8:L8),IF(AND(Loan_IO_MonthFunded>L4*12,Loan_IO_MonthFunded<=M4*12),Loan_Amount-SUM($C$8:L8),0)))","v":0},{"$f":"SUM(C8:M8)","v":0}]
[null,"Refinance Proceeds",0,{"$f":"IF(Hold<D4,0,IF(ROUNDUP((Loan_IO_Term+1)/12,0)=D4,Loan_Amount_Amortizing-Loan_Amount,0))","v":0},0,0,0,0,0,0,0,0,0,0]
[null,"Equity Contributions",{"$f":"Equity_Amount","v":0},{"$f":"IF('Return Detail'!F85<0,-'Return Detail'!F85,0)","v":0},{"$f":"IF('Return Detail'!G85<0,-'Return Detail'!G85,0)","v":0},{"$f":"IF('Return Detail'!H85<0,-'Return Detail'!H85,0)","v":0},{"$f":"IF('Return Detail'!I85<0,-'Return Detail'!I85,0)","v":0},{"$f":"IF('Return Detail'!J85<0,-'Return Detail'!J85,0)","v":0},{"$f":"IF('Return Detail'!K85<0,-'Return Detail'!K85,0)","v":0},{"$f":"IF('Return Detail'!L85<0,-'Return Detail'!L85,0)","v":0},{"$f":"IF('Return Detail'!M85<0,-'Return Detail'!M85,0)","v":0},{"$f":"IF('Return Detail'!N85<0,-'Return Detail'!N85,0)","v":0},{"$f":"IF('Return Detail'!O85<0,-'Return Detail'!O85,0)","v":0},0]
[null,"Net Operating Income",0,{"$f":"IF('Return Detail'!F$6>0,'Return Detail'!F$6,0)","v":515106.375},{"$f":"IF('Return Detail'!G$6>0,'Return Detail'!G$6,0)","v":822908.71499999985},{"$f":"IF('Return Detail'!H$6>0,'Return Detail'!H$6,0)","v":847595.97644999996},{"$f":"IF('Return Detail'!I$6>0,'Return Detail'!I$6,0)","v":873023.85574349994},{"$f":"IF('Return Detail'!J$6>0,'Return Detail'!J$6,0)","v":899214.57141580491},{"$f":"IF('Return Detail'!K$6>0,'Return Detail'!K$6,0)","v":926191.00855827914},{"$f":"IF('Return Detail'!L$6>0,'Return Detail'!L$6,0)","v":953976.73881502752},{"$f":"IF('Return Detail'!M$6>0,'Return Detail'!M$6,0)","v":982596.04097947839},{"$f":"IF('Return Detail'!N$6>0,'Return Detail'!N$6,0)","v":1012073.9222088627},{"$f":"IF('Return Detail'!O$6>0,'Return Detail'!O$6,0)","v":1042436.1398751285},8875123.3440460805]
[null,"Non-Regular Income",0,{"$f":"'Return Detail'!F$8","v":0},{"$f":"'Return Detail'!G$8","v":0},{"$f":"'Return Detail'!H$8","v":0},{"$f":"'Return Detail'!I$8","v":0},{"$f":"'Return Detail'!J$8","v":0},{"$f":"'Return Detail'!K$8","v":0},{"$f":"'Return Detail'!L$8","v":0},{"$f":"'Return Detail'!M$8","v":0},{"$f":"'Return Detail'!N$8","v":0},{"$f":"'Return Detail'!O$8","v":0},0]
[null,"Reserve Draw for Taxes",0,{"$f":"'Return Detail'!F82","v":0},{"$f":"'Return Detail'!G82","v":0},{"$f":"'Return Detail'!H82","v":0},{"$f":"'Return Detail'!I82","v":0},{"$f":"'Return Detail'!J82","v":0},{"$f":"'Return Detail'!K82","v":0},{"$f":"'Return Detail'!L82","v":0},{"$f":"'Return Detail'!M82","v":0},{"$f":"'Return Detail'!N82","v":0},{"$f":"'Return Detail'!O82","v":0},0]
[null,"Gross Proceeds from Sale",0,{"$f":"'Return Detail'!F$10","v":0},{"$f":"'Return Detail'!G$10","v":0},{"$f":"'Return Detail'!H$10","v":0},{"$f":"'Return Detail'!I$10","v":0},{"$f":"'Return Detail'!J$10","v":0},{"$f":"'Return Detail'!K$10","v":0},{"$f":"'Return Detail'!L$10","v":0},{"$f":"'Return Detail'!M$10","v":0},{"$f":"'Return Detail'!N$10","v":0},{"$f":"'Return Detail'!O$10","v":10737092.240713825},10737092.240713825]
[null,"Total Sources Of Capital",{"$f":"SUM(C8:C14)","v":0},515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,11779528.380588954,19612215.584759906]
[]
[null,"Uses Of Capital"]
[null,{"$f":"IF(Project_Type=\"Acquisition\",\"Acquisition Price\",\"Development Costs\")","v":"Acquisition Price"},{"$f":"IF(AND(Loan_IO_Status=\"Fund Up\",Loan_IO_Term>0,Loan_IO_Approval=\"yes\"),Equity_Amount-SUM(C19:C32),Acquisition_Gross)","v":0},{"$f":"D8","v":0},{"$f":"E8","v":0},0,0,0,0,0,0,0,0,{"$f":"SUM(C18:M18)","v":0}]
[null,"Costs and Fees",{"$f":"SUM(Due_Diligence_Cost,Loan_Fee)","v":0},{"$f":"-SUM('Return Detail'!F34,'Return Detail'!F28)","v":0},{"$f":"-SUM('Return Detail'!G34,'Return Detail'!G28)","v":0},{"$f":"-SUM('Return Detail'!H34,'Return Detail'!H28)","v":0},{"$f":"-SUM('Return Detail'!I34,'Return Detail'!I28)","v":0},{"$f":"-SUM('Return Detail'!J34,'Return Detail'!J28)","v":0},{"$f":"-SUM('Return Detail'!K34,'Return Detail'!K28)","v":0},{"$f":"-SUM('Return Detail'!L34,'Return Detail'!L28)","v":0},{"$f":"-SUM('Return Detail'!M34,'Return Detail'!M28)","v":0},{"$f":"-SUM('Return Detail'!N34,'Return Detail'!N28)","v":0},{"$f":"-SUM('Return Detail'!O34,'Return Detail'!O28)","v":0},{"$f":"SUM(C19:M19)","v":0}]
[null,"Initial Reserve Accounts",{"$f":"SUM(Reserve_CapEx,Reserve_Operating,Reserve_Replacement)","v":0},0,0,0,0,0,0,0,0,0,0,0]
[null,"Operating Requirements",0,{"$f":"IF('Return Detail'!F$6<0,-'Return Detail'!F$6,0)","v":0},{"$f":"IF('Return Detail'!G$6<0,-'Return Detail'!G$6,0)","v":0},{"$f":"IF('Return Detail'!H$6<0,-'Return Detail'!H$6,0)","v":0},{"$f":"IF('Return Detail'!I$6<0,-'Return Detail'!I$6,0)","v":0},{"$f":"IF('Return Detail'!J$6<0,-'Return Detail'!J$6,0)","v":0},{"$f":"IF('Return Detail'!K$6<0,-'Return Detail'!K$6,0)","v":0},{"$f":"IF('Return Detail'!L$6<0,-'Return Detail'!L$6,0)","v":0},{"$f":"IF('Return Detail'!M$6<0,-'Return Detail'!M$6,0)","v":0},{"$f":"IF('Return Detail'!N$6<0,-'Return Detail'!N$6,0)","v":0},{"$f":"IF('Return Detail'!O$6<0,-'Return Detail'!O$6,0)","v":0},{"$f":"SUM(C21:M21)","v":0}]
[null,"Mortgage Balance",0,{"$f":"-'Return Detail'!F$35","v":0},{"$f":"-'Return Detail'!G$35","v":0},{"$f":"-'Return Detail'!H$35","v":0},{"$f":"-'Return Detail'!I$35","v":0},{"$f":"-'Return Detail'!J$35","v":0},{"$f":"-'Return Detail'!K$35","v":0},{"$f":"-'Return Detail'!L$35","v":0},{"$f":"-'Return Detail'!M$35","v":0},{"$f":"-'Return Detail'!N$35","v":0},{"$f":"-'Return Detail'!O$35","v":0},{"$f":"SUM(C22:M22)","v":0}]
[null,"Mortgage Exit Fee",0,{"$f":"-'Return Detail'!F36","v":0},{"$f":"-'Return Detail'!G36","v":0},{"$f":"-'Return Detail'!H36","v":0},{"$f":"-'Return Detail'!I36","v":0},{"$f":"-'Return Detail'!J36","v":0},{"$f":"-'Return Detail'!K36","v":0},{"$f":"-'Return Detail'!L36","v":0},{"$f":"-'Return Detail'!M36","v":0},{"$f":"-'Return Detail'!N36","v":0},{"$f":"-'Return Detail'!O36","v":0},{"$f":"SUM(C23:M23)","v":0}]
[null,"Annual Interest Expense",0,{"$f":"IF(D4>Hold,0,VLOOKUP(D$4,Amortization_Schedule_Annual,6,FALSE))","v":0},0,0,0,0,0,0,0,0,0,0]
[null,"Less: Budgeted Interest",0,{"$f":"IF(D4>Hold,0,'Cash Flows'!F89)","v":0},{"$f":"IF(E4>Hold,0,'Cash Flows'!G89)","v":0},{"$f":"IF(F4>Hold,0,'Cash Flows'!H89)","v":0},{"$f":"IF(G4>Hold,0,'Cash Flows'!I89)","v":0},{"$f":"IF(H4>Hold,0,'Cash Flows'!J89)","v":0},{"$f":"IF(I4>Hold,0,'Cash Flows'!K89)","v":0},{"$f":"IF(J4>Hold,0,'Cash Flows'!L89)","v":0},{"$f":"IF(K4>Hold,0,'Cash Flows'!M89)","v":0},{"$f":"IF(L4>Hold,0,'Cash Flows'!N89)","v":0},{"$f":"IF(M4>Hold,0,'Cash Flows'!O89)","v":0},0]
[null,"Annual Principal Paydown",0,{"$f":"IF(D4>Hold,0,VLOOKUP(D$4,Amortization_Schedule_Annual,7,FALSE))","v":0},0,0,0,0,0,0,0,0,0,0]
[null,"Capital Expenses",0,{"$f":"-'Return Detail'!F$7","v":0},{"$f":"-'Return Detail'!G$7","v":0},{"$f":"-'Return Detail'!H$7","v":0},{"$f":"-'Return Detail'!I$7","v":0},{"$f":"-'Return Detail'!J$7","v":0},{"$f":"-'Return Detail'!K$7","v":0},{"$f":"-'Return Detail'!L$7","v":0},{"$f":"-'Return Detail'!M$7","v":0},{"$f":"-'Return Detail'!N$7","v":0},{"$f":"-'Return Detail'!O$7","v":0},0]
[null,"Operating Tax Liability",0,{"$f":"-'Return Detail'!F81","v":180287.23124999998},{"$f":"-'Return Detail'!G81","v":288018.05024999991},{"$f":"-'Return Detail'!H81","v":296658.59175749996},{"$f":"-'Return Detail'!I81","v":305558.34951022494},{"$f":"-'Return Detail'!J81","v":314725.09999553172},{"$f":"-'Return Detail'!K81","v":324166.8529953977},{"$f":"-'Return Detail'!L81","v":333891.85858525959},{"$f":"-'Return Detail'!M81","v":343908.6143428174},{"$f":"-'Return Detail'!N81","v":354225.87277310196},{"$f":"-'Return Detail'!O81","v":364852.64895629499},3106293.1704161288]
[null,"Ordinary Income Tax Liability",0,{"$f":"-'Return Detail'!F74","v":0},{"$f":"-'Return Detail'!G74","v":0},{"$f":"-'Return Detail'!H74","v":0},{"$f":"-'Return Detail'!I74","v":0},{"$f":"-'Return Detail'!J74","v":0},{"$f":"-'Return Detail'!K74","v":0},{"$f":"-'Return Detail'!L74","v":0},{"$f":"-'Return Detail'!M74","v":0},{"$f":"-'Return Detail'!N74","v":0},{"$f":"-'Return Detail'!O74","v":0},0]
[null,"Cost Recovery Tax Liability",0,{"$f":"-'Return Detail'!F75","v":0},{"$f":"-'Return Detail'!G75","v":0},{"$f":"-'Return Detail'!H75","v":0},{"$f":"-'Return Detail'!I75","v":0},{"$f":"-'Return Detail'!J75","v":0},{"$f":"-'Return Detail'!K75","v":0},{"$f":"-'Return Detail'!L75","v":0},{"$f":"-'Return Detail'!M75","v":0},{"$f":"-'Return Detail'!N75","v":0},{"$f":"-'Return Detail'!O75","v":0},0]
[null,"Capital Gains Tax Liability",0,{"$f":"-'Return Detail'!F76","v":0},{"$f":"-'Return Detail'!G76","v":0},{"$f":"-'Return Detail'!H76","v":0},{"$f":"-'Return Detail'!I76","v":0},{"$f":"-'Return Detail'!J76","v":0},{"$f":"-'Return Detail'!K76","v":0},{"$f":"-'Return Detail'!L76","v":0},{"$f":"-'Return Detail'!M76","v":0},{"$f":"-'Return Detail'!N76","v":0},{"$f":"-'Return Detail'!O76","v":2147418.4481427651},2147418.4481427651]
[null,"Equity Returns",0,{"$f":"IF('Return Detail'!F$85>0,'Return Detail'!F$85,0)","v":334819.14375000005},{"$f":"IF('Return Detail'!G$85>0,'Return Detail'!G$85,0)","v":534890.66475},{"$f":"IF('Return Detail'!H$85>0,'Return Detail'!H$85,0)","v":550937.3846925},{"$f":"IF('Return Detail'!I$85>0,'Return Detail'!I$85,0)","v":567465.50623327494},{"$f":"IF('Return Detail'!J$85>0,'Return Detail'!J$85,0)","v":584489.47142027318},{"$f":"IF('Return Detail'!K$85>0,'Return Detail'!K$85,0)","v":602024.15556288138},{"$f":"IF('Return Detail'!L$85>0,'Return Detail'!L$85,0)","v":620084.88022976788},{"$f":"IF('Return Detail'!M$85>0,'Return Detail'!M$85,0)","v":638687.42663666094},{"$f":"IF('Return Detail'!N$85>0,'Return Detail'!N$85,0)","v":657848.04943576083},{"$f":"IF('Return Detail'!O$85>0,'Return Detail'!O$85,0)","v":9267257.2834898941},14358503.966201013]
[null,"Total Uses Of Capital",{"$f":"SUM(C18:C32)","v":0},{"$f":"SUM(D18:D32)","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947828,1012073.9222088628,11779528.380588954,19612215.584759906]
[]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]

{"sheet":"Equity Investor Returns","index":11,"n_rows":188,"n_cols":27,"rows_kept":188,"cut":false,"hidden":false,"merged":[[187,1,187,13],[1,1,1,13],[5,4,5,5],[58,1,58,13],[59,1,59,13],[60,1,60,13],[61,1,61,13],[65,1,65,13],[67,1,67,13],[184,1,184,13],[185,1,185,13],[186,1,186,13]]}
[]
[null,{"$f":"IF(LEFT(B21,3)=\"Pre\",\"Pre-Tax Equity Investor Returns\",\"Post-Tax Equity Investor Returns\")","v":"Pre-Tax Equity Investor Returns"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Year",1,2,3,4,5,6,7,8,9,10]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"Name_Partner","v":"JV Partner"},{"$f":"E32","v":309063.82500000007},{"$f":"F32","v":493745.22899999999},508557.58587000007,523814.31344610004,539528.74284948304,555714.6051349676,572386.04328901658,589557.62458768708,607244.35332531773,5994007.80428199]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"Name_Developer","v":"Developer"},{"$f":"E47","v":206042.54999999996},{"$f":"F47","v":329163.48599999986},339038.39057999989,349209.54229739989,359685.82856632187,370476.4034233116,381590.69552601094,393038.41639179125,404829.568883545,5785520.5763069643]
[null,null,null,null,"Cash Flow Distribution"]
[null,null,"Method","Basis","Rate",{"$f":"Name_Partner&\" Split\"","v":"JV Partner Split"},{"$f":"Name_Developer&\" Split\"","v":"Developer Split"}]
[null,"Initial Equity Contribution",null,null,null,{"$f":"Contribution_JV","v":0.9},{"$f":"Contribution_Developer","v":0.1}]
[null,"Preferred Return","Cumulative","Cash on Cash",{"$f":"Equity_Rate","v":0.1},1,{"$f":"1-Pref_Investor","v":0}]
[null,"Hurdle 1",null,{"$f":"D9","v":"Cash on Cash"},{"$f":"Preferred_Return_Rate+0.02","v":0.12000000000000001},{"$f":"F8","v":0.9},{"$f":"1-F10","v":9.9999999999999978E-2}]
[null,"Hurdle 2",null,{"$f":"D10","v":"Cash on Cash"},{"$f":"Hurdle1_Rate+0.02","v":0.14000000000000001},{"$f":"Hurdle1_Investor-0.1","v":0.8},{"$f":"1-F11","v":0.19999999999999996}]
[null,"Hurdle 3",null,{"$f":"D11","v":"Cash on Cash"},{"$f":"Hurdle2_Rate+0.02","v":0.16},{"$f":"Hurdle2_Investor-0.1","v":0.70000000000000007},0.29999999999999993]
[null,"Final Split",null,null,null,{"$f":"Hurdle3_Investor-0.1","v":0.60000000000000009},0.39999999999999991]
[null,"Reversion (Sale) Proceeds","Independent",null,null,0.5,{"$f":"1-F14","v":0.5}]
[]
[]
[]
[]
[null,"Cash Flow Waterfall Summary"]
[null,"Period",null,0,1,2,3,4,5,6,7,8,9,10]
[null,"Pre-Tax Net Cash Flow",null,{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!E37,'Return Detail'!E85)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!F$32,'Return Detail'!F$83)","v":515106.375},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!G$32,'Return Detail'!G$83)","v":822908.71499999985},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!H$32,'Return Detail'!H$83)","v":847595.97644999996},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!I$32,'Return Detail'!I$83)","v":873023.85574349994},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!J$32,'Return Detail'!J$83)","v":899214.57141580491},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!K$32,'Return Detail'!K$83)","v":926191.00855827914},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!L$32,'Return Detail'!L$83)","v":953976.73881502752},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!M$32,'Return Detail'!M$83)","v":982596.04097947839},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!N$32,'Return Detail'!N$83)","v":1012073.9222088627},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!O$32,'Return Detail'!O$83)","v":1042436.1398751285}]
[null,{"$f":"IF(LEFT($B$21,3)=\"Pre\",\"Pre-Tax Sale Proceeds\",\"Post-Tax Sale Proceeds\")","v":"Pre-Tax Sale Proceeds"},null,0,{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!F$73,'Return Detail'!F$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!G$73,'Return Detail'!G$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!H$73,'Return Detail'!H$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!I$73,'Return Detail'!I$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!J$73,'Return Detail'!J$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!K$73,'Return Detail'!K$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!L$73,'Return Detail'!L$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!M$73,'Return Detail'!M$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!N$73,'Return Detail'!N$77)","v":0},{"$f":"IF(LEFT($B$21,3)=\"Pre\",'Return Detail'!O$73,'Return Detail'!O$77)","v":10737092.240713825}]
[null,"Total Cash Flow",null,{"$f":"SUM(D21:D22)","v":0},{"$f":"SUM(E21:E22)","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,11779528.380588954]
[]
[null,{"$f":"Name_Partner","v":"JV Partner"}]
[null,"Cash Flow Paid at Preferred Return",null,{"$f":"D80","v":0},{"$f":"SUM(E76:E77,E87)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Hurdle 1",null,{"$f":"D113","v":0},{"$f":"SUM(E113:E114)","v":0},{"$f":"SUM(F113:F114)","v":0},0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Hurdle 2",null,{"$f":"D134","v":0},{"$f":"SUM(E134:E135)","v":0},{"$f":"SUM(F134:F135)","v":0},0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Hurdle 3",null,{"$f":"D155","v":0},{"$f":"SUM(E155:E156)","v":0},{"$f":"SUM(F155:F156)","v":0},0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Final Split",null,{"$f":"D175","v":0},{"$f":"E175","v":309063.82500000007},493745.22899999999,508557.58587000007,523814.31344610004,539528.74284948304,555714.6051349676,572386.04328901658,589557.62458768708,607244.35332531773,625461.6839250772]
[null,"Cash Flow Paid at Reversion (Sale)",null,0,{"$f":"IF(Reversion_Method=\"Independent\",E$22*Reversion_Split_Equity,0)","v":0},0,0,0,0,0,0,0,0,5368546.1203569127]
[null,{"$f":"\"Total Cash Flow to \"&Name_Partner","v":"Total Cash Flow to JV Partner"},null,{"$f":"SUM(D26:D31)","v":0},{"$f":"SUM(E26:E31)","v":309063.82500000007},493745.22899999999,508557.58587000007,523814.31344610004,539528.74284948304,555714.6051349676,572386.04328901658,589557.62458768708,607244.35332531773,5994007.80428199]
[null,"Annual Cash on Cash",null,null,{"$f":"IFERROR(E32/(Equity_Amount*Contribution_JV),\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[]
[null,"Net Cash Flow",{"$f":"SUM(D32:N32)","v":10693620.126784563}]
[null,"IRR",{"$f":"IFERROR(IRR(D32:N32),\"-\")","v":"-"}]
[null,"Equity Multiple",{"$f":"IFERROR(SUM(E32:N32)/(Equity_Amount*Contribution_JV),\"-\")","v":"-"}]
[null,"Average Annual Cash on Cash Return",{"$f":"IFERROR((SUM(E32:N32)/Hold)/(Equity_Amount*Contribution_JV),\"-\")","v":"-"}]
[]
[null,{"$f":"Name_Developer","v":"Developer"}]
[null,"Cash Flow Paid at Preferred Return",null,{"$f":"D96","v":0},{"$f":"E96","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Hurdle 1",null,{"$f":"D122","v":0},{"$f":"E122","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Hurdle 2",null,{"$f":"D143","v":0},{"$f":"E143","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Hurdle 3",null,{"$f":"D164","v":0},{"$f":"E164","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cash Flow Paid at Final Split",null,{"$f":"D180","v":0},{"$f":"E180","v":206042.54999999996},329163.48599999986,339038.39057999989,349209.54229739989,359685.82856632187,370476.4034233116,381590.69552601094,393038.41639179125,404829.568883545,416974.45595005131]
[null,"Cash Flow Paid at Reversion (Sale)",null,0,{"$f":"IF(Reversion_Method=\"Independent\",E$22*Reversion_Split_Dev,0)","v":0},0,0,0,0,0,0,0,0,5368546.1203569127]
[null,{"$f":"\"Total Cash Flow to \"&Name_Developer","v":"Total Cash Flow to Developer"},null,{"$f":"SUM(D41:D46)","v":0},{"$f":"SUM(E41:E46)","v":206042.54999999996},329163.48599999986,339038.39057999989,349209.54229739989,359685.82856632187,370476.4034233116,381590.69552601094,393038.41639179125,404829.568883545,5785520.5763069643]
[null,"Annual Cash on Cash",null,null,{"$f":"IFERROR(E47/(Equity_Amount*Contribution_Developer),\"-\")","v":"-"},"-","-","-","-","-","-","-","-","-"]
[]
[null,"Net Cash Flow",{"$f":"SUM(D47:N47)","v":8918595.4579753447}]
[null,"IRR",{"$f":"IFERROR(IRR(D47:N47),\"-\")","v":"-"}]
[null,"Equity Multiple",{"$f":"IFERROR(SUM(E47:N47)/(Equity_Amount*Contribution_Developer),\"-\")","v":"-"}]
[null,"Average Annual Cash on Cash Return",{"$f":"IFERROR((SUM(E47:N47)/Hold)/(Equity_Amount*Contribution_Developer),\"-\")","v":"-"}]
[]
[]
[]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]
[null,"This pro forma does not constitute tax advice.  Please consult a professional tax advisor."]
[]
[]
[]
[null,{"$f":"B2","v":"Pre-Tax Equity Investor Returns"}]
[]
[null,"Cash Flow Waterfall Detail Analysis"]
[]
[null,{"$f":"B20","v":"Period"},null,{"$f":"D20","v":0},1,2,3,4,5,6,7,8,9,10]
[null,{"$f":"B21","v":"Pre-Tax Net Cash Flow"},null,{"$f":"IF(Reversion_Method=\"Independent\",D$21,D$23)","v":0},515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[]
[null,"Preferred Return"]
[null,{"$f":"Name_Partner","v":"JV Partner"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Pref_Investor*100,1)&\"%\"","v":"CF Allocation at 100%"},null,{"$f":"D$71*Contribution_JV","v":0},{"$f":"E$71*Pref_Investor","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[null,"Amount Paid at Preferred Return (IRR)",null,{"$f":"IF($D$9=\"IRR\",$D$21*Contribution_JV,0)","v":0},{"$f":"IF(OR(E$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\"),0,IF(NPV(Preferred_Return_Rate,$E$75:E$75)+$D$75<0,E75,FV(Preferred_Return_Rate,E$20,,D75)))","v":0},{"$f":"IF(OR(F$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:E$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:F$75)+$D$75<0,F75,FV(Preferred_Return_Rate,F$20,,NPV(Preferred_Return_Rate,$E$75:E$75)+$D75)))","v":0},{"$f":"IF(OR(G$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:F$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:G$75)+$D$75<0,G75,FV(Preferred_Return_Rate,G$20,,NPV(Preferred_Return_Rate,$E$75:F$75)+$D75)))","v":0},{"$f":"IF(OR(H$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:G$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:H$75)+$D$75<0,H75,FV(Preferred_Return_Rate,H$20,,NPV(Preferred_Return_Rate,$E$75:G$75)+$D75)))","v":0},{"$f":"IF(OR(I$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:H$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:I$75)+$D$75<0,I75,FV(Preferred_Return_Rate,I$20,,NPV(Preferred_Return_Rate,$E$75:H$75)+$D75)))","v":0},{"$f":"IF(OR(J$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:I$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:J$75)+$D$75<0,J75,FV(Preferred_Return_Rate,J$20,,NPV(Preferred_Return_Rate,$E$75:I$75)+$D75)))","v":0},{"$f":"IF(OR(K$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:J$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:K$75)+$D$75<0,K75,FV(Preferred_Return_Rate,K$20,,NPV(Preferred_Return_Rate,$E$75:J$75)+$D75)))","v":0},{"$f":"IF(OR(L$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:K$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:L$75)+$D$75<0,L75,FV(Preferred_Return_Rate,L$20,,NPV(Preferred_Return_Rate,$E$75:K$75)+$D75)))","v":0},{"$f":"IF(OR(M$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:L$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:M$75)+$D$75<0,M75,FV(Preferred_Return_Rate,M$20,,NPV(Preferred_Return_Rate,$E$75:L$75)+$D75)))","v":0},{"$f":"IF(OR(N$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$75:M$75),$D$75)>0),0,IF(NPV(Preferred_Return_Rate,$E$75:N$75)+$D$75<0,N75,FV(Preferred_Return_Rate,N$20,,NPV(Preferred_Return_Rate,$E$75:M$75)+$D75)))","v":0}]
[null,"Amount Paid at Preferred Return (COC)",null,{"$f":"IF($D$9=\"Cash on Cash\",$D$21*Contribution_JV,0)","v":0},{"$f":"IF(OR(E$70>Hold,Preferred_Return_Rate=0,$D$9<>\"Cash on Cash\"),0,MIN(-$D$75*Preferred_Return_Rate,E75))","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D75-SUM(D76:D77)","v":0},515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[]
[null,{"$f":"\"Cash Flow Received by \"&Name_Partner","v":"Cash Flow Received by JV Partner"},null,{"$f":"SUM(D76:D77)","v":0},0,0,0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Partner&\" IRR at \"&B73","v":"JV Partner IRR at Preferred Return"},{"$f":"IFERROR(IRR(D80:N80),\"-\")","v":"-"}]
[]
[null,"Cumulative Preferred Return Catchup"]
[null,"Cumulative Amount Due as Preferred Return",null,null,{"$f":"IF(OR(Hold<E70,$D$9<>\"Cash on Cash\",Preferred_Return_Method<>\"Cumulative\"),0,(Equity_Amount*Contribution_JV)*Preferred_Return_Rate*E$70)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cumulative Amount Paid as Preferred Return",null,null,{"$f":"IF(OR(Hold<E70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:E77,$D$87:D87))","v":0},{"$f":"IF(OR(Hold<F70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:F77,$D$87:E87))","v":0},{"$f":"IF(OR(Hold<G70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:G77,$D$87:F87))","v":0},{"$f":"IF(OR(Hold<H70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:H77,$D$87:G87))","v":0},{"$f":"IF(OR(Hold<I70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:I77,$D$87:H87))","v":0},{"$f":"IF(OR(Hold<J70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:J77,$D$87:I87))","v":0},{"$f":"IF(OR(Hold<K70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:K77,$D$87:J87))","v":0},{"$f":"IF(OR(Hold<L70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:L77,$D$87:K87))","v":0},{"$f":"IF(OR(Hold<M70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:M77,$D$87:L87))","v":0},{"$f":"IF(OR(Hold<N70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$77:N77,$D$87:M87))","v":0}]
[null,"Balance Remaining",null,null,{"$f":"E84-E85","v":0},{"$f":"F84-F85","v":0},0,0,0,0,0,0,0,0]
[null,"Catch Up Paid",null,null,{"$f":"IF(AND(E86>0,E75>(Equity_Amount*Contribution_JV*Preferred_Return_Rate)),MIN(E78,E86),0)","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"\"Total Annual Cash Flow to \"&Name_Partner","v":"Total Annual Cash Flow to JV Partner"},null,null,{"$f":"SUM(E80,E87)","v":0},{"$f":"SUM(F80,F87)","v":0},0,0,0,0,0,0,0,0]
[]
[null,{"$f":"Name_Developer","v":"Developer"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Pref_Developer*100,1)&\"%\"","v":"CF Allocation at 0%"},null,{"$f":"D$71*Contribution_Developer","v":0},{"$f":"E$71*Pref_Developer","v":0},0,0,0,0,0,0,0,0,0]
[null,"Amount Paid at Preferred Return (IRR)",null,{"$f":"IF($D$9=\"IRR\",$D$21*Contribution_Developer,0)","v":0},{"$f":"IF(OR(E$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\"),0,IF(NPV(Preferred_Return_Rate,$E$91:E$91)+$D$91<0,E91,FV(Preferred_Return_Rate,E$20,,D91)))","v":0},{"$f":"IF(OR(F$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:E$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:F$91)+$D$91<0,F91,FV(Preferred_Return_Rate,F$20,,NPV(Preferred_Return_Rate,$E$91:E$91)+$D91)))","v":0},{"$f":"IF(OR(G$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:F$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:G$91)+$D$91<0,G91,FV(Preferred_Return_Rate,G$20,,NPV(Preferred_Return_Rate,$E$91:F$91)+$D91)))","v":0},{"$f":"IF(OR(H$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:G$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:H$91)+$D$91<0,H91,FV(Preferred_Return_Rate,H$20,,NPV(Preferred_Return_Rate,$E$91:G$91)+$D91)))","v":0},{"$f":"IF(OR(I$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:H$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:I$91)+$D$91<0,I91,FV(Preferred_Return_Rate,I$20,,NPV(Preferred_Return_Rate,$E$91:H$91)+$D91)))","v":0},{"$f":"IF(OR(J$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:I$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:J$91)+$D$91<0,J91,FV(Preferred_Return_Rate,J$20,,NPV(Preferred_Return_Rate,$E$91:I$91)+$D91)))","v":0},{"$f":"IF(OR(K$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:J$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:K$91)+$D$91<0,K91,FV(Preferred_Return_Rate,K$20,,NPV(Preferred_Return_Rate,$E$91:J$91)+$D91)))","v":0},{"$f":"IF(OR(L$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:K$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:L$91)+$D$91<0,L91,FV(Preferred_Return_Rate,L$20,,NPV(Preferred_Return_Rate,$E$91:K$91)+$D91)))","v":0},{"$f":"IF(OR(M$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:L$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:M$91)+$D$91<0,M91,FV(Preferred_Return_Rate,M$20,,NPV(Preferred_Return_Rate,$E$91:L$91)+$D91)))","v":0},{"$f":"IF(OR(N$20>Hold,Preferred_Return_Rate=0,$D$9<>\"IRR\",SUM(NPV(Preferred_Return_Rate,$E$91:M$91),$D$91)>0),0,IF(NPV(Preferred_Return_Rate,$E$91:N$91)+$D$91<0,N91,FV(Preferred_Return_Rate,N$20,,NPV(Preferred_Return_Rate,$E$91:M$91)+$D91)))","v":0}]
[null,"Amount Paid at Preferred Return (COC)",null,{"$f":"IF($D$9=\"Cash on Cash\",$D$21*Contribution_Developer,0)","v":0},{"$f":"IF(OR(E$70>Hold,Preferred_Return_Rate=0,$D$9<>\"Cash on Cash\"),0,MIN(-$D$91*Preferred_Return_Rate,E91))","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D91-SUM(D92:D93)","v":0},{"$f":"E91-SUM(E92:E93)","v":0},0,0,0,0,0,0,0,0,0]
[]
[null,{"$f":"\"Total CF Received by \"&Name_Developer","v":"Total CF Received by Developer"},null,{"$f":"SUM(D92:D93)","v":0},{"$f":"SUM(E92:E93)","v":0},{"$f":"SUM(F92:F93)","v":0},0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Developer&\" IRR at Preferred Return\"","v":"Developer IRR at Preferred Return"},{"$f":"IFERROR(IRR(D96:N96),\"-\")","v":"-"}]
[]
[null,"Cumulative Preferred Return Catchup"]
[null,"Cumulative Amount Due as Preferred Return",null,null,{"$f":"IF(OR(Hold<E70,$D$9<>\"Cash on Cash\",Preferred_Return_Method<>\"Cumulative\"),0,(Equity_Amount*Contribution_Developer)*Preferred_Return_Rate*E$70)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Cumulative Amount Paid as Preferred Return",null,null,{"$f":"IF(OR(Hold<E70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:E93,$D$103:D103))","v":0},{"$f":"IF(OR(Hold<F70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:F93,$D$103:E103))","v":0},{"$f":"IF(OR(Hold<G70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:G93,$D$103:F103))","v":0},{"$f":"IF(OR(Hold<H70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:H93,$D$103:G103))","v":0},{"$f":"IF(OR(Hold<I70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:I93,$D$103:H103))","v":0},{"$f":"IF(OR(Hold<J70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:J93,$D$103:I103))","v":0},{"$f":"IF(OR(Hold<K70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:K93,$D$103:J103))","v":0},{"$f":"IF(OR(Hold<L70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:L93,$D$103:K103))","v":0},{"$f":"IF(OR(Hold<M70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:M93,$D$103:L103))","v":0},{"$f":"IF(OR(Hold<N70,Preferred_Return_Method<>\"Cumulative\",$D$9<>\"Cash on Cash\"),0,SUM($E$93:N93,$D$103:M103))","v":0}]
[null,"Balance Remaining",null,null,{"$f":"E100-E101","v":0},{"$f":"F100-F101","v":0},0,0,0,0,0,0,0,0]
[null,"Catch Up Paid",null,null,{"$f":"IF(AND(E102>0,E91>(Equity_Amount*Contribution_Developer*Preferred_Return_Rate)),MIN(E94,E102),0)","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"\"Total Annual Cash Flow to \"&Name_Partner","v":"Total Annual Cash Flow to JV Partner"},null,null,{"$f":"SUM(E96,E103)","v":0},{"$f":"SUM(F96,F103)","v":0},0,0,0,0,0,0,0,0]
[]
[]
[null,"Total CF Paid at Preferred Return",null,{"$f":"SUM(D80,D96)","v":0},{"$f":"SUM(E88,E104)","v":0},{"$f":"SUM(F88,F104)","v":0},0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"SUM(D78,D94)","v":0},{"$f":"E$71-E$107","v":515106.375},{"$f":"F$71-F$107","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[]
[null,"Hurdle 1"]
[null,{"$f":"Name_Partner","v":"JV Partner"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Hurdle1_Investor*100,1)&\"%\"","v":"CF Allocation at 90%"},null,{"$f":"D108*Hurdle1_Investor","v":0},463595.73749999999,740617.84349999984,762836.37880499999,785721.47016914992,809293.11427422438,833571.90770245122,858579.06493352482,884336.43688153056,910866.52998797642,938192.52588761563]
[null,"Amount Paid at Hurdle 1 (IRR)",null,0,{"$f":"IF(OR(E$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\"),0,MAX(0,MIN(E112,FV(Hurdle1_Rate,E$20,,NPV(Hurdle1_Rate,$E$80:E$80)+$D$80))))","v":0},{"$f":"IF(OR(F$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:E$117),$D$117)>=0),0,MAX(0,MIN(F112,FV(Hurdle1_Rate,F$20,,SUM(NPV(Hurdle1_Rate,$E$117:E$117,F80),$D$117)))))","v":0},{"$f":"IF(OR(G$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:F$117),$D$117)>=0),0,MAX(0,MIN(G112,FV(Hurdle1_Rate,G$20,,SUM(NPV(Hurdle1_Rate,$E$117:F$117,G80),$D$117)))))","v":0},{"$f":"IF(OR(H$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:G$117),$D$117)>=0),0,MAX(0,MIN(H112,FV(Hurdle1_Rate,H$20,,SUM(NPV(Hurdle1_Rate,$E$117:G$117,H80),$D$117)))))","v":0},{"$f":"IF(OR(I$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:H$117),$D$117)>=0),0,MAX(0,MIN(I112,FV(Hurdle1_Rate,I$20,,SUM(NPV(Hurdle1_Rate,$E$117:H$117,I80),$D$117)))))","v":0},{"$f":"IF(OR(J$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:I$117),$D$117)>=0),0,MAX(0,MIN(J112,FV(Hurdle1_Rate,J$20,,SUM(NPV(Hurdle1_Rate,$E$117:I$117,J80),$D$117)))))","v":0},{"$f":"IF(OR(K$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:J$117),$D$117)>=0),0,MAX(0,MIN(K112,FV(Hurdle1_Rate,K$20,,SUM(NPV(Hurdle1_Rate,$E$117:J$117,K80),$D$117)))))","v":0},{"$f":"IF(OR(L$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:K$117),$D$117)>=0),0,MAX(0,MIN(L112,FV(Hurdle1_Rate,L$20,,SUM(NPV(Hurdle1_Rate,$E$117:K$117,L80),$D$117)))))","v":0},{"$f":"IF(OR(M$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:L$117),$D$117)>=0),0,MAX(0,MIN(M112,FV(Hurdle1_Rate,M$20,,SUM(NPV(Hurdle1_Rate,$E$117:L$117,M80),$D$117)))))","v":0},{"$f":"IF(OR(N$20>Hold,Hurdle1_Rate=0,$D$10<>\"IRR\",SUM(NPV(Hurdle1_Rate,$E$117:M$117),$D$117)>=0),0,MAX(0,MIN(N112,FV(Hurdle1_Rate,N$20,,SUM(NPV(Hurdle1_Rate,$E$117:M$117,N80),$D$117)))))","v":0}]
[null,"Amount Paid at Hurdle 1 (COC)",null,0,{"$f":"IF(OR(E$70>Hold,Hurdle1_Rate=0,$D$10<>\"Cash on Cash\"),0,MIN(-$D$80*Hurdle1_Rate-E80,E112))","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D112-SUM(D113:D114)","v":0},{"$f":"E112-SUM(E113:E114)","v":463595.73749999999},740617.84349999984,762836.37880499999,785721.47016914992,809293.11427422438,833571.90770245122,858579.06493352482,884336.43688153056,910866.52998797642,938192.52588761563]
[]
[null,{"$f":"\"Cash Flow Received by \"&Name_Partner","v":"Cash Flow Received by JV Partner"},null,{"$f":"SUM(D80,D113:D114)","v":0},0,0,0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Partner&\" IRR at \"&B110","v":"JV Partner IRR at Hurdle 1"},{"$f":"IFERROR(IRR(D117:N117),\"-\")","v":"-"}]
[]
[null,{"$f":"Name_Developer","v":"Developer"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Hurdle1_Developer*100,1)&\"%\"","v":"CF Allocation at 10%"},null,{"$f":"D108*Hurdle1_Developer","v":0},51510.63749999999,82290.871499999965,84759.597644999973,87302.385574349973,89921.457141580468,92619.100855827899,95397.673881502735,98259.604097947813,101207.39222088625,104243.61398751283]
[null,"Amount Paid at Hurdle 1",null,0,{"$f":"IF(OR(E$20>Hold,Hurdle1_Investor=0),0,(SUM(E113:E114)/Hurdle1_Investor)*Hurdle1_Developer)","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D121-D122","v":0},{"$f":"E121-E122","v":51510.63749999999},82290.871499999965,84759.597644999973,87302.385574349973,89921.457141580468,92619.100855827899,95397.673881502735,98259.604097947813,101207.39222088625,104243.61398751283]
[]
[null,{"$f":"\"Total CF Received by \"&Name_Developer","v":"Total CF Received by Developer"},null,{"$f":"SUM(D92,D122)","v":0},{"$f":"SUM(E92,E122)","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Developer&\" IRR at \"&B110","v":"Developer IRR at Hurdle 1"},{"$f":"IFERROR(IRR(D125:N125),\"-\")","v":"-"}]
[]
[null,"Total CF Paid at Hurdle 1",null,{"$f":"SUM(D113,D122)","v":0},{"$f":"SUM(E113:E114,E122)","v":0},{"$f":"SUM(F113:F114,F122)","v":0},0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D108-D128","v":0},{"$f":"E108-E128","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[]
[null,"Hurdle 2"]
[null,{"$f":"Name_Partner","v":"JV Partner"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Hurdle2_Investor*100,1)&\"%\"","v":"CF Allocation at 80%"},null,{"$f":"D129*Hurdle2_Investor","v":0},412085.10000000003,658326.97199999995,678076.78116000001,698419.08459480002,719371.65713264397,740952.80684662331,763181.39105202211,786076.83278358274,809659.13776709023,833948.91190010286]
[null,"Amount Paid at Hurdle 2 (IRR)",null,0,{"$f":"IF(OR(E$20>Hold,Hurdle2_Rate=0,$D$11<>\"IRR\"),0,MAX(0,MIN(E133,FV(Hurdle2_Rate,E$20,,NPV(Hurdle2_Rate,$E$117:E$117)+$D$117))))","v":0},{"$f":"IF(OR(F$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:E$138),$D$138)>=0),0,MAX(0,MIN(F133,FV(Hurdle2_Rate,F$20,,SUM(NPV(Hurdle2_Rate,$E$138:E$138,F117),$D$138)))))","v":0},{"$f":"IF(OR(G$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:F$138),$D$138)>=0),0,MAX(0,MIN(G133,FV(Hurdle2_Rate,G$20,,SUM(NPV(Hurdle2_Rate,$E$138:F$138,G117),$D$138)))))","v":0},{"$f":"IF(OR(H$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:G$138),$D$138)>=0),0,MAX(0,MIN(H133,FV(Hurdle2_Rate,H$20,,SUM(NPV(Hurdle2_Rate,$E$138:G$138,H117),$D$138)))))","v":0},{"$f":"IF(OR(I$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:H$138),$D$138)>=0),0,MAX(0,MIN(I133,FV(Hurdle2_Rate,I$20,,SUM(NPV(Hurdle2_Rate,$E$138:H$138,I117),$D$138)))))","v":0},{"$f":"IF(OR(J$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:I$138),$D$138)>=0),0,MAX(0,MIN(J133,FV(Hurdle2_Rate,J$20,,SUM(NPV(Hurdle2_Rate,$E$138:I$138,J117),$D$138)))))","v":0},{"$f":"IF(OR(K$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:J$138),$D$138)>=0),0,MAX(0,MIN(K133,FV(Hurdle2_Rate,K$20,,SUM(NPV(Hurdle2_Rate,$E$138:J$138,K117),$D$138)))))","v":0},{"$f":"IF(OR(L$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:K$138),$D$138)>=0),0,MAX(0,MIN(L133,FV(Hurdle2_Rate,L$20,,SUM(NPV(Hurdle2_Rate,$E$138:K$138,L117),$D$138)))))","v":0},{"$f":"IF(OR(M$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:L$138),$D$138)>=0),0,MAX(0,MIN(M133,FV(Hurdle2_Rate,M$20,,SUM(NPV(Hurdle2_Rate,$E$138:L$138,M117),$D$138)))))","v":0},{"$f":"IF(OR(N$20>Hold,$D$11<>\"IRR\",Hurdle2_Rate=0,SUM(NPV(Hurdle2_Rate,$E$138:M$138),$D$138)>=0),0,MAX(0,MIN(N133,FV(Hurdle2_Rate,N$20,,SUM(NPV(Hurdle2_Rate,$E$138:M$138,N117),$D$138)))))","v":0}]
[null,"Amount Paid at Hurdle 2 (COC)",null,0,{"$f":"IF(OR(E$70>Hold,Hurdle2_Rate=0,$D$11<>\"Cash on Cash\"),0,MIN(-$D$80*Hurdle2_Rate-E117,E133))","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D133-SUM(D134:D135)","v":0},{"$f":"E133-SUM(E134:E135)","v":412085.10000000003},658326.97199999995,678076.78116000001,698419.08459480002,719371.65713264397,740952.80684662331,763181.39105202211,786076.83278358274,809659.13776709023,833948.91190010286]
[]
[null,{"$f":"\"Cash Flow Received by \"&Name_Partner","v":"Cash Flow Received by JV Partner"},null,{"$f":"SUM(D117,D134:D135)","v":0},{"$f":"SUM(E117,E134:E135)","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Partner&\" IRR at \"&B131","v":"JV Partner IRR at Hurdle 2"},{"$f":"IFERROR(IRR(D138:N138),\"-\")","v":"-"}]
[]
[null,{"$f":"Name_Developer","v":"Developer"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Hurdle2_Developer*100,1)&\"%\"","v":"CF Allocation at 20%"},null,{"$f":"D129*Hurdle2_Developer","v":0},103021.27499999998,164581.74299999993,169519.19528999995,174604.77114869995,179842.91428316094,185238.2017116558,190795.34776300547,196519.20819589563,202414.7844417725,208487.22797502566]
[null,"Amount Paid at Hurdle 2",null,0,{"$f":"IF(OR(E$20>Hold,Hurdle2_Investor=0),0,(SUM(E134:E135)/Hurdle2_Investor)*Hurdle2_Developer)","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D142-D143","v":0},{"$f":"E142-E143","v":103021.27499999998},164581.74299999993,169519.19528999995,174604.77114869995,179842.91428316094,185238.2017116558,190795.34776300547,196519.20819589563,202414.7844417725,208487.22797502566]
[]
[null,{"$f":"\"Total CF Received by \"&Name_Developer","v":"Total CF Received by Developer"},null,{"$f":"SUM(D125,D143)","v":0},{"$f":"SUM(E125,E143)","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Developer&\" IRR at \"&B131","v":"Developer IRR at Hurdle 2"},{"$f":"IFERROR(IRR(D146:N146),\"-\")","v":"-"}]
[]
[null,"Total CF Paid at Hurdle 2",null,{"$f":"SUM(D134:D135,D143)","v":0},{"$f":"SUM(E134:E135,E143)","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D129-D149","v":0},{"$f":"E129-E149","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[]
[null,"Hurdle 3"]
[null,{"$f":"Name_Partner","v":"JV Partner"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Hurdle3_Investor*100,1)&\"%\"","v":"CF Allocation at 70%"},null,{"$f":"D150*Hurdle3_Investor","v":0},360574.46250000002,576036.10049999994,593317.18351500004,611116.69902045,629450.19999106345,648333.70599079551,667783.71717051929,687817.22868563491,708451.74554620392,729705.29791258997]
[null,"Amount Paid at Hurdle 3 (IRR)",null,0,{"$f":"IF(OR(E$20>Hold,Hurdle3_Rate=0,$D$12<>\"IRR\"),0,MAX(0,MIN(E154,FV(Hurdle3_Rate,E$20,,NPV(Hurdle3_Rate,$E$138:E$138)+$D$138))))","v":0},{"$f":"IF(OR(F$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:E$159),$D$159)>=0),0,MAX(0,MIN(F154,FV(Hurdle3_Rate,F$20,,SUM(NPV(Hurdle3_Rate,$E$159:E$159,F138),$D$159)))))","v":0},{"$f":"IF(OR(G$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:F$159),$D$159)>=0),0,MAX(0,MIN(G154,FV(Hurdle3_Rate,G$20,,SUM(NPV(Hurdle3_Rate,$E$159:F$159,G138),$D$159)))))","v":0},{"$f":"IF(OR(H$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:G$159),$D$159)>=0),0,MAX(0,MIN(H154,FV(Hurdle3_Rate,H$20,,SUM(NPV(Hurdle3_Rate,$E$159:G$159,H138),$D$159)))))","v":0},{"$f":"IF(OR(I$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:H$159),$D$159)>=0),0,MAX(0,MIN(I154,FV(Hurdle3_Rate,I$20,,SUM(NPV(Hurdle3_Rate,$E$159:H$159,I138),$D$159)))))","v":0},{"$f":"IF(OR(J$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:I$159),$D$159)>=0),0,MAX(0,MIN(J154,FV(Hurdle3_Rate,J$20,,SUM(NPV(Hurdle3_Rate,$E$159:I$159,J138),$D$159)))))","v":0},{"$f":"IF(OR(K$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:J$159),$D$159)>=0),0,MAX(0,MIN(K154,FV(Hurdle3_Rate,K$20,,SUM(NPV(Hurdle3_Rate,$E$159:J$159,K138),$D$159)))))","v":0},{"$f":"IF(OR(L$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:K$159),$D$159)>=0),0,MAX(0,MIN(L154,FV(Hurdle3_Rate,L$20,,SUM(NPV(Hurdle3_Rate,$E$159:K$159,L138),$D$159)))))","v":0},{"$f":"IF(OR(M$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:L$159),$D$159)>=0),0,MAX(0,MIN(M154,FV(Hurdle3_Rate,M$20,,SUM(NPV(Hurdle3_Rate,$E$159:L$159,M138),$D$159)))))","v":0},{"$f":"IF(OR(N$20>Hold,$D$12<>\"IRR\",Hurdle3_Rate=0,SUM(NPV(Hurdle3_Rate,$E$159:M$159),$D$159)>=0),0,MAX(0,MIN(N154,FV(Hurdle3_Rate,N$20,,SUM(NPV(Hurdle3_Rate,$E$159:M$159,N138),$D$159)))))","v":0}]
[null,"Amount Paid at Hurdle 3 (COC)",null,0,{"$f":"IF(OR(E$70>Hold,Hurdle3_Rate=0,$D$12<>\"Cash on Cash\"),0,MIN(-$D$80*Hurdle3_Rate-E138,E154))","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D154-D155","v":0},{"$f":"E154-E155","v":360574.46250000002},576036.10049999994,593317.18351500004,611116.69902045,629450.19999106345,648333.70599079551,667783.71717051929,687817.22868563491,708451.74554620392,729705.29791258997]
[]
[null,{"$f":"\"Cash Flow Received by \"&Name_Partner","v":"Cash Flow Received by JV Partner"},null,{"$f":"SUM(D138,D155:D156)","v":0},{"$f":"SUM(E138,E155:E156)","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Partner&\" IRR at \"&B152","v":"JV Partner IRR at Hurdle 3"},{"$f":"IFERROR(IRR(D159:N159),\"-\")","v":"-"}]
[]
[null,{"$f":"Name_Developer","v":"Developer"}]
[null,{"$f":"\"CF Allocation at \"&ROUND(Hurdle3_Developer*100,1)&\"%\"","v":"CF Allocation at 30%"},null,{"$f":"D150*Hurdle3_Developer","v":0},154531.91249999998,246872.61449999991,254278.79293499992,261907.15672304993,269764.3714247414,277857.30256748368,286193.02164450818,294778.81229384342,303622.17666265875,312730.84196253848]
[null,"Amount Paid at Hurdle 3",null,0,{"$f":"IF(OR(E$20>Hold,Hurdle3_Investor=0),0,(SUM(E155:E156)/Hurdle3_Investor)*Hurdle3_Developer)","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D163-D164","v":0},{"$f":"E163-E164","v":154531.91249999998},246872.61449999991,254278.79293499992,261907.15672304993,269764.3714247414,277857.30256748368,286193.02164450818,294778.81229384342,303622.17666265875,312730.84196253848]
[]
[null,{"$f":"\"Total CF Received by \"&Name_Developer","v":"Total CF Received by Developer"},null,{"$f":"SUM(D146,D164)","v":0},{"$f":"SUM(E146,E164)","v":0},0,0,0,0,0,0,0,0,0]
[null,{"$f":"Name_Developer&\" IRR at \"&B152","v":"Developer IRR at Hurdle 3"},{"$f":"IFERROR(IRR(D167:N167),\"-\")","v":"-"}]
[]
[null,"Total CF Paid at Hurdle 3",null,{"$f":"SUM(D155:D156,D164)","v":0},{"$f":"SUM(E155:E156,E164)","v":0},0,0,0,0,0,0,0,0,0]
[null,"CF Remaining for Next Hurdle",null,{"$f":"D150-D170","v":0},{"$f":"E150-E170","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285]
[]
[null,"Final Split"]
[null,{"$f":"Name_Partner","v":"JV Partner"}]
[null,{"$f":"\"CF Paid at \"&ROUND(Hurdle_Final_Investor*100,1)&\"%\"","v":"CF Paid at 60%"},null,{"$f":"D171*Hurdle_Final_Investor","v":0},309063.82500000007,493745.22899999999,508557.58587000007,523814.31344610004,539528.74284948304,555714.6051349676,572386.04328901658,589557.62458768708,607244.35332531773,625461.6839250772]
[null,{"$f":"\"Total CF Received by \"&Name_Partner","v":"Total CF Received by JV Partner"},null,{"$f":"SUM(D159,D175)","v":0},{"$f":"SUM(E159,E175)","v":309063.82500000007},493745.22899999999,508557.58587000007,523814.31344610004,539528.74284948304,555714.6051349676,572386.04328901658,589557.62458768708,607244.35332531773,625461.6839250772]
[null,{"$f":"\"Final \"&Name_Partner&\" IRR\"","v":"Final JV Partner IRR"},{"$f":"IFERROR(IRR(D176:N176),\"-\")","v":"-"}]
[]
[null,{"$f":"Name_Developer","v":"Developer"}]
[null,{"$f":"\"CF Paid at \"&ROUND(Hurdle_Final_Developer*100,1)&\"%\"","v":"CF Paid at 40%"},null,{"$f":"D171*Hurdle_Final_Developer","v":0},206042.54999999996,329163.48599999986,339038.39057999989,349209.54229739989,359685.82856632187,370476.4034233116,381590.69552601094,393038.41639179125,404829.568883545,416974.45595005131]
[null,{"$f":"\"Total CF Received by \"&Name_Developer","v":"Total CF Received by Developer"},null,{"$f":"SUM(D167,D180)","v":0},{"$f":"SUM(E167,E180)","v":206042.54999999996},329163.48599999986,339038.39057999989,349209.54229739989,359685.82856632187,370476.4034233116,381590.69552601094,393038.41639179125,404829.568883545,416974.45595005131]
[null,{"$f":"\"Final \"&Name_Developer&\" IRR\"","v":"Final Developer IRR"},{"$f":"IFERROR(IRR(D181:N181),\"-\")","v":"-"}]
[]
[]
[null,"www.realpropmetrics.com"]
[null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,{"$f":"TODAY()","v":"2022-02-23"}]
[null,"This pro forma does not constitute tax advice.  Please consult a professional tax advisor."]

{"sheet":"Holding Period Sensitivity","index":12,"n_rows":88,"n_cols":15,"rows_kept":88,"cut":false,"hidden":false,"merged":[[87,5,87,14],[86,5,86,14],[85,5,85,14],[2,1,2,14],[3,1,3,14]]}
[]
[]
[null,"Holding Period Sensitivity Analysis"]
[null,"These charts show the project's perfomanced based on Disposition year.  They assume continued financing regardless of term."]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Project Level IRR Sensitivity"]
[]
[null,"Period",null,1,{"$f":"D49+1","v":2},{"$f":"E49+1","v":3},4,5,6,7,8,9,10,11]
[]
[]
[null,"NOI (exlcuding Reserves)",null,{"$f":"'Cash Flows'!F59","v":515106.375},{"$f":"'Cash Flows'!G59","v":822908.71499999985},{"$f":"'Cash Flows'!H59","v":847595.97644999996},{"$f":"'Cash Flows'!I59","v":873023.85574349994},{"$f":"'Cash Flows'!J59","v":899214.57141580491},{"$f":"'Cash Flows'!K59","v":926191.00855827914},{"$f":"'Cash Flows'!L59","v":953976.73881502752},{"$f":"'Cash Flows'!M59","v":982596.04097947839},{"$f":"'Cash Flows'!N59","v":1012073.9222088627},{"$f":"'Cash Flows'!O59","v":1042436.1398751285},{"$f":"'Cash Flows'!P59","v":1073709.2240713825}]
[null,"Refinance Proceeds",null,{"$f":"'Cash Flows'!F98","v":0},{"$f":"'Cash Flows'!G98","v":0},{"$f":"'Cash Flows'!H98","v":0},{"$f":"'Cash Flows'!I98","v":0},{"$f":"'Cash Flows'!J98","v":0},{"$f":"'Cash Flows'!K98","v":0},{"$f":"'Cash Flows'!L98","v":0},{"$f":"'Cash Flows'!M98","v":0},{"$f":"'Cash Flows'!N98","v":0},{"$f":"'Cash Flows'!O98","v":0},{"$f":"'Cash Flows'!P98","v":0}]
[null,"Less: Reserves",null,{"$f":"-'Cash Flows'!F65","v":0},{"$f":"-'Cash Flows'!G65","v":0},{"$f":"-'Cash Flows'!H65","v":0},{"$f":"-'Cash Flows'!I65","v":0},{"$f":"-'Cash Flows'!J65","v":0},{"$f":"-'Cash Flows'!K65","v":0},{"$f":"-'Cash Flows'!L65","v":0},{"$f":"-'Cash Flows'!M65","v":0},{"$f":"-'Cash Flows'!N65","v":0},{"$f":"-'Cash Flows'!O65","v":0},{"$f":"-'Cash Flows'!P65","v":0}]
[null,"Less: Debt Service",null,{"$f":"-'Cash Flows'!F90","v":0},{"$f":"-'Cash Flows'!G90","v":0},{"$f":"-'Cash Flows'!H90","v":0},{"$f":"-'Cash Flows'!I90","v":0},{"$f":"-'Cash Flows'!J90","v":0},{"$f":"-'Cash Flows'!K90","v":0},{"$f":"-'Cash Flows'!L90","v":0},{"$f":"-'Cash Flows'!M90","v":0},{"$f":"-'Cash Flows'!N90","v":0},{"$f":"-'Cash Flows'!O90","v":0},0]
[null,"Cash Flow After Debt Service",null,{"$f":"SUM(D52:D55)","v":515106.375},822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285,1073709.2240713825]
[null,"Less: Mortgage Origination Fee",null,{"$f":"'Cash Flows'!F209","v":0},{"$f":"'Cash Flows'!G209","v":0},{"$f":"'Cash Flows'!H209","v":0},{"$f":"'Cash Flows'!I209","v":0},{"$f":"'Cash Flows'!J209","v":0},{"$f":"'Cash Flows'!K209","v":0},{"$f":"'Cash Flows'!L209","v":0},{"$f":"'Cash Flows'!M209","v":0},{"$f":"'Cash Flows'!N209","v":0},{"$f":"'Cash Flows'!O209","v":0},0]
[null,"Less: Capital Expenses",null,{"$f":"-'Cash Flows'!F112","v":0},{"$f":"-'Cash Flows'!G112","v":0},{"$f":"-'Cash Flows'!H112","v":0},{"$f":"-'Cash Flows'!I112","v":0},{"$f":"-'Cash Flows'!J112","v":0},{"$f":"-'Cash Flows'!K112","v":0},{"$f":"-'Cash Flows'!L112","v":0},{"$f":"-'Cash Flows'!M112","v":0},{"$f":"-'Cash Flows'!N112","v":0},{"$f":"-'Cash Flows'!O112","v":0},0]
[null,"Other Non-Regular Income",null,{"$f":"SUM('Cash Flows'!F115:F117)","v":0},{"$f":"SUM('Cash Flows'!G115:G117)","v":0},{"$f":"SUM('Cash Flows'!H115:H117)","v":0},{"$f":"SUM('Cash Flows'!I115:I117)","v":0},{"$f":"SUM('Cash Flows'!J115:J117)","v":0},{"$f":"SUM('Cash Flows'!K115:K117)","v":0},{"$f":"SUM('Cash Flows'!L115:L117)","v":0},{"$f":"SUM('Cash Flows'!M115:M117)","v":0},{"$f":"SUM('Cash Flows'!N115:N117)","v":0},{"$f":"SUM('Cash Flows'!O115:O117)","v":0},{"$f":"SUM('Cash Flows'!P115:P117)","v":0}]
[null,"Distributable Cash Flow",null,{"$f":"SUM(D56:D59)","v":515106.375},{"$f":"SUM(E56:E59)","v":822908.71499999985},847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,1042436.1398751285,1073709.2240713825]
[]
[null,"Reversion Analysis (if sold in this year)"]
[null,"Reversion Cash Flow",null,{"$f":"IF(Disposition=\"Cap Rate\",E52/Exit_Rate,FV(Exit_Rate,D49,0,-Acquisition_Gross))","v":8229087.1499999985},8475959.7644999996,8730238.5574349985,8992145.7141580489,9261910.0855827909,9539767.3881502748,9825960.4097947832,10120739.222088628,10424361.398751285,10737092.240713825]
[null,"Less: Cost of Sale",null,{"$f":"-D63*Sale_Cost","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Mortgage Exit Fee",null,{"$f":"D66*Loan_Exit_Fee","v":0},0,0,0,0,0,0,0,0,0]
[null,"Less: Mortgage Balance",null,{"$f":"-VLOOKUP(D$49*12,Amortization_Schedule_Monthly,9,FALSE)","v":0},0,0,0,0,0,0,0,0,0]
[null,"Return of Reserve Funds",null,{"$f":"'Cash Flows'!F162","v":0},{"$f":"'Cash Flows'!G162","v":0},{"$f":"'Cash Flows'!H162","v":0},{"$f":"'Cash Flows'!I162","v":0},{"$f":"'Cash Flows'!J162","v":0},{"$f":"'Cash Flows'!K162","v":0},{"$f":"'Cash Flows'!L162","v":0},{"$f":"'Cash Flows'!M162","v":0},{"$f":"'Cash Flows'!N162","v":0},{"$f":"'Cash Flows'!O162","v":0}]
[null,"Reversion Balance",null,{"$f":"SUM(D63:D67)","v":8229087.1499999985},{"$f":"SUM(E63:E67)","v":8475959.7644999996},8730238.5574349985,8992145.7141580489,9261910.0855827909,9539767.3881502748,9825960.4097947832,10120739.222088628,10424361.398751285,10737092.240713825]
[]
[]
[null,"Periods",0,{"$f":"C71+1","v":1},{"$f":"D71+1","v":2},3,4,5,6,7,{"$f":"J71+1","v":8},9,10,"IRR","NPV"]
[null,1,{"$f":"-Equity_Amount","v":0},{"$f":"IF($B72<D$49,0,IF($B72=D$49,SUM($D$60,D$68),D$60))","v":8744193.5249999985},0,0,0,0,0,0,0,0,0,{"$f":"IFERROR(IRR(C72:M72),\"-\")","v":"-"},{"$f":"SUM(C72,NPV(Equity_Rate,D72:M72))","v":7949266.840909089}]
[null,2,0,{"$f":"IF($B73<D$49,0,IF($B73=D$49,SUM(D$60,D$68),D$60))","v":515106.375},{"$f":"IF($B73<E$49,0,IF($B73=E$49,SUM(E$60,E$68),E$60))","v":9298868.4794999994},0,0,0,0,0,0,0,0,{"$f":"IFERROR(IRR(C73:M73),\"-\")","v":"-"},8153293.7950413208]
[null,3,0,{"$f":"IF($B74<D$49,0,IF($B74=D$49,SUM(D$60,D$68),D$60))","v":515106.375},822908.71499999985,9577834.5338849984,0,0,0,0,0,0,0,"-",8344337.2157287728]
[null,4,0,515106.375,822908.71499999985,847595.97644999996,9865169.5699015483,0,0,0,0,0,0,"-",8523223.3278270233]
[null,5,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,10161124.656998595,0,0,0,0,0,"-",8690725.7782462947]
[null,6,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,10465958.396708554,0,0,0,0,"-",8847568.9818207026]
[null,7,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,10779937.148609811,0,0,0,"-",8994431.2542585582]
[null,8,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,11103335.263068106,0,0,"-",9131947.7457230948]
[null,9,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,11436435.320960147,0,"-",9260713.1877307985]
[null,10,0,515106.375,822908.71499999985,847595.97644999996,873023.85574349994,899214.57141580491,926191.00855827914,953976.73881502752,982596.04097947839,1012073.9222088627,11779528.380588954,"-",9381284.4652471039]
[]
[]
[]
[]
[null,null,null,null,null,"www.realpropmetrics.com"]
[null,null,null,null,null,{"$f":"\"Version: \"&Version","v":"Version: 9.42 SH | © 2022"}]
[null,null,null,null,null,{"$f":"TODAY()","v":"2022-02-23"}]