{"text_format":"1","workbook":"xlsx","n_sheets":4,"sheets":["Introduction","Assumptions","Unit Mix","Annual Cash Flow"],"not_rendered":{"charts":0,"images":1,"macros":1,"external_links":0,"defined_names":0,"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":"Introduction","index":0,"n_rows":0,"n_cols":0,"rows_kept":0,"cut":false,"hidden":false,"merged":[]}

{"sheet":"Assumptions","index":1,"n_rows":22,"n_cols":10,"rows_kept":22,"cut":false,"hidden":false,"merged":[]}
["Assumptions"]
[]
[null,"Percentage of Revenue",null,null,"Other Assumptions",null,null,"Uses and Sources","$","$/SF"]
[null,"Loss to Lease",0.02,null,"Rent Growth",0.03,null,"Sources:"]
[null,"Vacancy",0.08,null,"Expense Growth",0.03,null,"Loan",{"$f":"I10*0.7","v":2275000},{"$f":"I5/'Unit Mix'!$D$17","v":161.92170818505338}]
[null,"Collection Loss",0.01,null,"Going-in Cap Rate",{"$f":"'Annual Cash Flow'!D37/I10","v":7.922870646153847E-2},null,"Equity",{"$f":"I7-I5","v":1075500},{"$f":"I6/'Unit Mix'!$D$17","v":76.54804270462634}]
[null,"Concessions",0.01,null,"Exit Cap Rate",7.0000000000000007E-2,null,"Total Sources",{"$f":"I16","v":3350500},{"$f":"I7/'Unit Mix'!$D$17","v":238.46975088967972}]
[null,null,null,null,"Holding Period (Yr)",10]
[null,null,null,null,"Management Fee (% of EGR)",0.03,null,"Uses:"]
[null,"Expense Name","Annual PSF",null,"Disposition Costs",0.02,null,"Purchase Price",3250000,{"$f":"I10/'Unit Mix'!$D$17","v":231.3167259786477}]
[null,"Taxes",1,null,null,null,null,"Closing Cost",97500,{"$f":"I11/'Unit Mix'!$D$17","v":6.9395017793594302}]
[null,"Insurance",0.35,null,null,null,null,"Legal",3000,{"$f":"I12/'Unit Mix'!$D$17","v":0.21352313167259787}]
[null,"Gas",0.35,null,"Debt Assumptions",null,null,"Working Capital",0,{"$f":"I13/'Unit Mix'!$D$17","v":0}]
[null,"Electric",0.36,null,"LTV",{"$f":"I5/I7","v":0.67900313386061784},null,"Mortgage Brokerage Fee",0,{"$f":"I14/'Unit Mix'!$D$17","v":0}]
[null,"Water",0.4,null,"Interest-Only (Year)",0,null,"DD Fees",0,{"$f":"I15/'Unit Mix'!$D$17","v":0}]
[null,"Scavenger",0.3,null,"Amortization (Year)",30,null,"Total Uses",{"$f":"SUM(I10:I15)","v":3350500},{"$f":"I16/'Unit Mix'!$D$17","v":238.46975088967972}]
[null,"Maintenance",0.1,null,"Interest Rate",0.05]
[null,"Janitor",0.4,null,null,null,null,"Return Metrics"]
[null,"Decorating",0.42,null,null,null,null,{"$f":"'Annual Cash Flow'!B58","v":"Deal Level IRR"},null,{"$f":"'Annual Cash Flow'!D58","v":0.1931185497281489}]
[null,"Repairs",0.35,null,null,null,null,{"$f":"'Annual Cash Flow'!B59","v":"Multiple"},null,{"$f":"'Annual Cash Flow'!D59","v":4.0736121496567002}]
[null,"Reserves",0.2,null,null,null,null,{"$f":"'Annual Cash Flow'!B60","v":"Net Profit"},null,{"$f":"'Annual Cash Flow'!D60","v":3305669.8669557814}]
[null,"Miscellaneous",0.37,null,null,null,null,{"$f":"'Annual Cash Flow'!B61","v":"Capital"},null,{"$f":"'Annual Cash Flow'!D61","v":1075500}]

{"sheet":"Unit Mix","index":2,"n_rows":17,"n_cols":7,"rows_kept":17,"cut":false,"hidden":false,"merged":[]}
["Unit Mix"]
[]
[null,"Bed/Bath","# Units","Size (SF)","Monthly Rent","Annual Rent","Monthly PSF"]
[null,"Studio",4,500,1365,{"$f":"IF(E4=\"\",\"\",E4*12)","v":16380},{"$f":"IF(E4=\"\",\"\",E4/D4)","v":2.73}]
[null,"1Bed / 1 Bath",4,750,1680,{"$f":"IF(E5=\"\",\"\",E5*12)","v":20160},{"$f":"IF(E5=\"\",\"\",E5/D5)","v":2.2400000000000002}]
[null,"2 Bed / 1 Bath",2,875,1995,23940,2.2799999999999998]
[null,"2 Bed / 2 Bath",2,1050,2100,25200,2]
[null,"3 Bed / 2 Bath",4,1300,2415,28980,1.8576923076923078]
[null,null,null,null,null,"",""]
[null,null,null,null,null,"",""]
[null,null,null,null,null,{"$f":"IF(E11=\"\",\"\",E11*12)","v":""},{"$f":"IF(E11=\"\",\"\",E11/D11)","v":""}]
[null,null,null,null,null,"",""]
[null,null,null,null,null,"",""]
[null,null,null,null,null,"",""]
[null,null,null,null,null,"",""]
[null,null,null,null,null,"",""]
[null,"Total",null,{"$f":"SUMPRODUCT(C4:C16,D4:D16)","v":14050},{"$f":"SUMPRODUCT(E4:E16,C4:C16)","v":30030},{"$f":"SUMPRODUCT(F4:F16,C4:C16)","v":360360},{"$f":"E17/D17","v":2.1373665480427047}]

{"sheet":"Annual Cash Flow","index":3,"n_rows":61,"n_cols":14,"rows_kept":61,"cut":false,"hidden":false,"merged":[]}
["Annual Cash Flow"]
[]
[null,"Year",0,{"$f":"C3+1","v":1},{"$f":"D3+1","v":2},3,4,5,6,7,8,9,10,11]
[null,"Gross Potential Revenue",null,{"$f":"'Unit Mix'!F17","v":360360},{"$f":"D4*(1+Assumptions!$F$4)","v":371170.8},{"$f":"E4*(1+Assumptions!$F$4)","v":382305.924},{"$f":"F4*(1+Assumptions!$F$4)","v":393775.10172000004},{"$f":"G4*(1+Assumptions!$F$4)","v":405588.35477160005},{"$f":"H4*(1+Assumptions!$F$4)","v":417756.00541474804},{"$f":"I4*(1+Assumptions!$F$4)","v":430288.68557719048},{"$f":"J4*(1+Assumptions!$F$4)","v":443197.34614450618},{"$f":"K4*(1+Assumptions!$F$4)","v":456493.2665288414},{"$f":"L4*(1+Assumptions!$F$4)","v":470188.06452470663},{"$f":"M4*(1+Assumptions!$F$4)","v":484293.70646044787}]
[{"$f":"Assumptions!C4","v":0.02},"Less: Loss to Lease",null,{"$f":"-D$4*$A5","v":-7207.2},{"$f":"-E$4*$A5","v":-7423.4160000000002},-7646.1184800000001,-7875.5020344000013,-8111.767095432001,-8355.120108294961,-8605.7737115438104,-8863.9469228901235,-9129.8653305768275,-9403.7612904941325,-9685.874129208958]
[{"$f":"Assumptions!C5","v":0.08},"Less: Vacancy",null,{"$f":"-D$4*$A6","v":-28828.799999999999},-29693.664000000001,-30584.47392,-31502.008137600005,-32447.068381728004,-33420.480433179844,-34423.094846175241,-35455.787691560494,-36519.46132230731,-37615.04516197653,-38743.496516835832]
[{"$f":"Assumptions!C6","v":0.01},"Less: Collection Loss",null,-3603.6,-3711.7080000000001,-3823.05924,-3937.7510172000007,-4055.8835477160005,-4177.5600541474805,-4302.8868557719052,-4431.9734614450617,-4564.9326652884138,-4701.8806452470662,-4842.937064604479]
[{"$f":"Assumptions!C7","v":0.01},"Less: Concessions",null,-3603.6,-3711.7080000000001,-3823.05924,-3937.7510172000007,-4055.8835477160005,-4177.5600541474805,-4302.8868557719052,-4431.9734614450617,-4564.9326652884138,-4701.8806452470662,-4842.937064604479]
[null,"Net Scheduled Base Rental Revenue",null,{"$f":"SUM(D4:D8)","v":317116.80000000005},{"$f":"SUM(E4:E8)","v":326630.304},336429.21312000003,346522.08951359999,356917.75219900801,367625.28476497828,378654.04330792767,390013.66460716538,401714.07454538048,413765.49678174185,426178.46168519411]
[]
[null,"Other Income",null,15000,15000,15000,15000,15000,15000,15000,15000,15000,15000,15000]
[null,"Expense Reimbursement",null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[]
[null,"Effective Gross Revenue",null,{"$f":"D9+D11+D12","v":333116.80000000005},{"$f":"E9+E11+E12","v":342630.304},352429.21312000003,362522.08951359999,372917.75219900801,383625.28476497828,394654.04330792767,406013.66460716538,417714.07454538048,429765.49678174185,442178.46168519411]
[]
[null,"EXPENSES"]
[null,{"$f":"Assumptions!B11","v":"Taxes"},null,{"$f":"-Assumptions!$C11*'Unit Mix'!$D$17","v":-14050},{"$f":"D17*(1+Assumptions!$F$5)","v":-14471.5},{"$f":"E17*(1+Assumptions!$F$5)","v":-14905.645},{"$f":"F17*(1+Assumptions!$F$5)","v":-15352.814350000001},{"$f":"G17*(1+Assumptions!$F$5)","v":-15813.398780500002},{"$f":"H17*(1+Assumptions!$F$5)","v":-16287.800743915002},{"$f":"I17*(1+Assumptions!$F$5)","v":-16776.434766232454},{"$f":"J17*(1+Assumptions!$F$5)","v":-17279.727809219428},{"$f":"K17*(1+Assumptions!$F$5)","v":-17798.119643496011},{"$f":"L17*(1+Assumptions!$F$5)","v":-18332.063232800891},{"$f":"M17*(1+Assumptions!$F$5)","v":-18882.025129784917}]
[null,{"$f":"Assumptions!B12","v":"Insurance"},null,{"$f":"-Assumptions!$C12*'Unit Mix'!$D$17","v":-4917.5},{"$f":"D18*(1+Assumptions!$F$5)","v":-5065.0250000000005},{"$f":"E18*(1+Assumptions!$F$5)","v":-5216.9757500000005},{"$f":"F18*(1+Assumptions!$F$5)","v":-5373.4850225000009},{"$f":"G18*(1+Assumptions!$F$5)","v":-5534.689573175001},{"$f":"H18*(1+Assumptions!$F$5)","v":-5700.730260370251},{"$f":"I18*(1+Assumptions!$F$5)","v":-5871.7521681813587},{"$f":"J18*(1+Assumptions!$F$5)","v":-6047.9047332267992},{"$f":"K18*(1+Assumptions!$F$5)","v":-6229.341875223603},{"$f":"L18*(1+Assumptions!$F$5)","v":-6416.222131480311},{"$f":"M18*(1+Assumptions!$F$5)","v":-6608.7087954247208}]
[null,{"$f":"Assumptions!B13","v":"Gas"},null,{"$f":"-Assumptions!$C13*'Unit Mix'!$D$17","v":-4917.5},{"$f":"D19*(1+Assumptions!$F$5)","v":-5065.0250000000005},{"$f":"E19*(1+Assumptions!$F$5)","v":-5216.9757500000005},{"$f":"F19*(1+Assumptions!$F$5)","v":-5373.4850225000009},{"$f":"G19*(1+Assumptions!$F$5)","v":-5534.689573175001},{"$f":"H19*(1+Assumptions!$F$5)","v":-5700.730260370251},{"$f":"I19*(1+Assumptions!$F$5)","v":-5871.7521681813587},{"$f":"J19*(1+Assumptions!$F$5)","v":-6047.9047332267992},{"$f":"K19*(1+Assumptions!$F$5)","v":-6229.341875223603},{"$f":"L19*(1+Assumptions!$F$5)","v":-6416.222131480311},{"$f":"M19*(1+Assumptions!$F$5)","v":-6608.7087954247208}]
[null,{"$f":"Assumptions!B14","v":"Electric"},null,{"$f":"-Assumptions!$C14*'Unit Mix'!$D$17","v":-5058},{"$f":"D20*(1+Assumptions!$F$5)","v":-5209.74},{"$f":"E20*(1+Assumptions!$F$5)","v":-5366.0321999999996},{"$f":"F20*(1+Assumptions!$F$5)","v":-5527.0131659999997},{"$f":"G20*(1+Assumptions!$F$5)","v":-5692.8235609799995},{"$f":"H20*(1+Assumptions!$F$5)","v":-5863.6082678093999},{"$f":"I20*(1+Assumptions!$F$5)","v":-6039.5165158436821},{"$f":"J20*(1+Assumptions!$F$5)","v":-6220.7020113189928},{"$f":"K20*(1+Assumptions!$F$5)","v":-6407.3230716585631},{"$f":"L20*(1+Assumptions!$F$5)","v":-6599.5427638083202},{"$f":"M20*(1+Assumptions!$F$5)","v":-6797.5290467225695}]
[null,{"$f":"Assumptions!B15","v":"Water"},null,{"$f":"-Assumptions!$C15*'Unit Mix'!$D$17","v":-5620},{"$f":"D21*(1+Assumptions!$F$5)","v":-5788.6},{"$f":"E21*(1+Assumptions!$F$5)","v":-5962.2580000000007},{"$f":"F21*(1+Assumptions!$F$5)","v":-6141.1257400000013},{"$f":"G21*(1+Assumptions!$F$5)","v":-6325.3595122000015},{"$f":"H21*(1+Assumptions!$F$5)","v":-6515.1202975660017},{"$f":"I21*(1+Assumptions!$F$5)","v":-6710.5739064929821},{"$f":"J21*(1+Assumptions!$F$5)","v":-6911.8911236877721},{"$f":"K21*(1+Assumptions!$F$5)","v":-7119.2478573984054},{"$f":"L21*(1+Assumptions!$F$5)","v":-7332.8252931203579},{"$f":"M21*(1+Assumptions!$F$5)","v":-7552.8100519139689}]
[null,{"$f":"Assumptions!B16","v":"Scavenger"},null,{"$f":"-Assumptions!$C16*'Unit Mix'!$D$17","v":-4215},{"$f":"D22*(1+Assumptions!$F$5)","v":-4341.45},{"$f":"E22*(1+Assumptions!$F$5)","v":-4471.6935000000003},{"$f":"F22*(1+Assumptions!$F$5)","v":-4605.8443050000005},{"$f":"G22*(1+Assumptions!$F$5)","v":-4744.0196341500005},{"$f":"H22*(1+Assumptions!$F$5)","v":-4886.3402231745004},{"$f":"I22*(1+Assumptions!$F$5)","v":-5032.9304298697352},{"$f":"J22*(1+Assumptions!$F$5)","v":-5183.9183427658272},{"$f":"K22*(1+Assumptions!$F$5)","v":-5339.4358930488024},{"$f":"L22*(1+Assumptions!$F$5)","v":-5499.6189698402668},{"$f":"M22*(1+Assumptions!$F$5)","v":-5664.6075389354746}]
[null,{"$f":"Assumptions!B17","v":"Maintenance"},null,{"$f":"-Assumptions!$C17*'Unit Mix'!$D$17","v":-1405},{"$f":"D23*(1+Assumptions!$F$5)","v":-1447.15},{"$f":"E23*(1+Assumptions!$F$5)","v":-1490.5645000000002},{"$f":"F23*(1+Assumptions!$F$5)","v":-1535.2814350000003},{"$f":"G23*(1+Assumptions!$F$5)","v":-1581.3398780500004},{"$f":"H23*(1+Assumptions!$F$5)","v":-1628.7800743915004},{"$f":"I23*(1+Assumptions!$F$5)","v":-1677.6434766232455},{"$f":"J23*(1+Assumptions!$F$5)","v":-1727.972780921943},{"$f":"K23*(1+Assumptions!$F$5)","v":-1779.8119643496013},{"$f":"L23*(1+Assumptions!$F$5)","v":-1833.2063232800895},{"$f":"M23*(1+Assumptions!$F$5)","v":-1888.2025129784922}]
[null,{"$f":"Assumptions!B18","v":"Janitor"},null,{"$f":"-Assumptions!$C18*'Unit Mix'!$D$17","v":-5620},{"$f":"D24*(1+Assumptions!$F$5)","v":-5788.6},{"$f":"E24*(1+Assumptions!$F$5)","v":-5962.2580000000007},{"$f":"F24*(1+Assumptions!$F$5)","v":-6141.1257400000013},{"$f":"G24*(1+Assumptions!$F$5)","v":-6325.3595122000015},{"$f":"H24*(1+Assumptions!$F$5)","v":-6515.1202975660017},{"$f":"I24*(1+Assumptions!$F$5)","v":-6710.5739064929821},{"$f":"J24*(1+Assumptions!$F$5)","v":-6911.8911236877721},{"$f":"K24*(1+Assumptions!$F$5)","v":-7119.2478573984054},{"$f":"L24*(1+Assumptions!$F$5)","v":-7332.8252931203579},{"$f":"M24*(1+Assumptions!$F$5)","v":-7552.8100519139689}]
[null,{"$f":"Assumptions!B19","v":"Decorating"},null,{"$f":"-Assumptions!$C19*'Unit Mix'!$D$17","v":-5901},{"$f":"D25*(1+Assumptions!$F$5)","v":-6078.03},{"$f":"E25*(1+Assumptions!$F$5)","v":-6260.3708999999999},{"$f":"F25*(1+Assumptions!$F$5)","v":-6448.1820269999998},{"$f":"G25*(1+Assumptions!$F$5)","v":-6641.6274878100003},{"$f":"H25*(1+Assumptions!$F$5)","v":-6840.8763124443003},{"$f":"I25*(1+Assumptions!$F$5)","v":-7046.1026018176299},{"$f":"J25*(1+Assumptions!$F$5)","v":-7257.4856798721594},{"$f":"K25*(1+Assumptions!$F$5)","v":-7475.2102502683247},{"$f":"L25*(1+Assumptions!$F$5)","v":-7699.4665577763744},{"$f":"M25*(1+Assumptions!$F$5)","v":-7930.4505545096663}]
[null,{"$f":"Assumptions!B20","v":"Repairs"},null,{"$f":"-Assumptions!$C20*'Unit Mix'!$D$17","v":-4917.5},{"$f":"D26*(1+Assumptions!$F$5)","v":-5065.0250000000005},{"$f":"E26*(1+Assumptions!$F$5)","v":-5216.9757500000005},{"$f":"F26*(1+Assumptions!$F$5)","v":-5373.4850225000009},{"$f":"G26*(1+Assumptions!$F$5)","v":-5534.689573175001},{"$f":"H26*(1+Assumptions!$F$5)","v":-5700.730260370251},{"$f":"I26*(1+Assumptions!$F$5)","v":-5871.7521681813587},{"$f":"J26*(1+Assumptions!$F$5)","v":-6047.9047332267992},{"$f":"K26*(1+Assumptions!$F$5)","v":-6229.341875223603},{"$f":"L26*(1+Assumptions!$F$5)","v":-6416.222131480311},{"$f":"M26*(1+Assumptions!$F$5)","v":-6608.7087954247208}]
[null,{"$f":"Assumptions!B21","v":"Reserves"},null,{"$f":"-Assumptions!$C21*'Unit Mix'!$D$17","v":-2810},{"$f":"D27*(1+Assumptions!$F$5)","v":-2894.3},{"$f":"E27*(1+Assumptions!$F$5)","v":-2981.1290000000004},{"$f":"F27*(1+Assumptions!$F$5)","v":-3070.5628700000007},{"$f":"G27*(1+Assumptions!$F$5)","v":-3162.6797561000008},{"$f":"H27*(1+Assumptions!$F$5)","v":-3257.5601487830008},{"$f":"I27*(1+Assumptions!$F$5)","v":-3355.2869532464911},{"$f":"J27*(1+Assumptions!$F$5)","v":-3455.945561843886},{"$f":"K27*(1+Assumptions!$F$5)","v":-3559.6239286992027},{"$f":"L27*(1+Assumptions!$F$5)","v":-3666.4126465601789},{"$f":"M27*(1+Assumptions!$F$5)","v":-3776.4050259569844}]
[null,{"$f":"Assumptions!B22","v":"Miscellaneous"},null,{"$f":"-Assumptions!$C22*'Unit Mix'!$D$17","v":-5198.5},{"$f":"D28*(1+Assumptions!$F$5)","v":-5354.4549999999999},{"$f":"E28*(1+Assumptions!$F$5)","v":-5515.0886499999997},{"$f":"F28*(1+Assumptions!$F$5)","v":-5680.5413094999994},{"$f":"G28*(1+Assumptions!$F$5)","v":-5850.9575487849997},{"$f":"H28*(1+Assumptions!$F$5)","v":-6026.4862752485496},{"$f":"I28*(1+Assumptions!$F$5)","v":-6207.2808635060064},{"$f":"J28*(1+Assumptions!$F$5)","v":-6393.4992894111865},{"$f":"K28*(1+Assumptions!$F$5)","v":-6585.3042680935223},{"$f":"L28*(1+Assumptions!$F$5)","v":-6782.8633961363284},{"$f":"M28*(1+Assumptions!$F$5)","v":-6986.3492980204182}]
[null,null,null,{"$f":"SUM(D17:D28)","v":-64630},{"$f":"SUM(E17:E28)","v":-66568.899999999994},-68565.967000000004,-70622.946010000014,-72741.634390300009,-74923.883422009007,-77171.599924669281,-79486.747922409355,-81871.350360081648,-84327.490870884096,-86857.315597010616]
[]
[null,"Other Expenses",null,-1000,-1000,-1000,-1000,-1000,-1000,-1000,-1000,-1000,-1000,-1000]
[{"$f":"Assumptions!F9","v":0.03},"Management Fee",null,{"$f":"-D14*$A$32","v":-9993.5040000000008},{"$f":"-E14*$A$32","v":-10278.90912},-10572.876393600001,-10875.662685407999,-11187.532565970239,-11508.758542949348,-11839.62129923783,-12180.409938214962,-12531.422236361414,-12892.964903452255,-13265.353850555823]
[null,null,null,{"$f":"SUM(D31:D32)","v":-10993.504000000001},{"$f":"SUM(E31:E32)","v":-11278.90912},-11572.876393600001,-11875.662685407999,-12187.532565970239,-12508.758542949348,-12839.62129923783,-13180.409938214962,-13531.422236361414,-13892.964903452255,-14265.353850555823]
[]
[null,"Total Expenses",null,{"$f":"D29+D33","v":-75623.504000000001},{"$f":"E29+E33","v":-77847.809119999991},-80138.843393600007,-82498.608695408009,-84929.166956270245,-87432.641964958355,-90011.221223907109,-92667.157860624313,-95402.772596443057,-98220.455774336355,-101122.66944756644]
[]
[null,"Net Operating Income",null,{"$f":"D14+D35","v":257493.29600000003},{"$f":"E14+E35","v":264782.49488000001},272290.36972640001,280023.48081819201,287988.58524273778,296192.64280001994,304642.82208402059,313346.50674654107,322311.30194893741,331545.0410074055,341055.79223762767]
[]
[null,"LOAN:"]
[null,"Total Begining Loan Balance",0,{"$f":"C46","v":2275000},{"$f":"D46","v":2240757.9851923706},2204803.8696443597,2167052.0483189486,2127412.6359272669,2085791.252916001,2042088.8007541718,1996201.2259842511,1948019.2724758345,1897428.221291997,0]
[null,"Addition",{"$f":"Assumptions!I5","v":2275000}]
[null,"Principal",null,{"$f":"D44-D43","v":-34242.014807629224},{"$f":"E44-E43","v":-35954.115548010683},-37751.821325411234,-39639.412391681792,-41621.383011265876,-43702.452161829162,-45887.574769920626,-48181.953508416656,-50591.051183837495,-53120.603743029365,0]
[null,"Interests",null,{"$f":"-D40*Assumptions!$F$17","v":-113750},{"$f":"-E40*Assumptions!$F$17","v":-112037.89925961854},{"$f":"-F40*Assumptions!$F$17","v":-110240.19348221799},{"$f":"-G40*Assumptions!$F$17","v":-108352.60241594743},{"$f":"-H40*Assumptions!$F$17","v":-106370.63179636335},{"$f":"-I40*Assumptions!$F$17","v":-104289.56264580006},{"$f":"-J40*Assumptions!$F$17","v":-102104.4400377086},{"$f":"-K40*Assumptions!$F$17","v":-99810.061299212568},{"$f":"-L40*Assumptions!$F$17","v":-97400.963623791729},{"$f":"-M40*Assumptions!$F$17","v":-94871.411064599859},{"$f":"-N40*Assumptions!$F$17","v":0}]
[null,"Debt Service",null,{"$f":"IF(D3>Assumptions!$F$8,0,IF(D3<=Assumptions!$F$15,-D40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(E3>Assumptions!$F$8,0,IF(E3<=Assumptions!$F$15,-E40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(F3>Assumptions!$F$8,0,IF(F3<=Assumptions!$F$15,-F40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(G3>Assumptions!$F$8,0,IF(G3<=Assumptions!$F$15,-G40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(H3>Assumptions!$F$8,0,IF(H3<=Assumptions!$F$15,-H40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(I3>Assumptions!$F$8,0,IF(I3<=Assumptions!$F$15,-I40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(J3>Assumptions!$F$8,0,IF(J3<=Assumptions!$F$15,-J40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(K3>Assumptions!$F$8,0,IF(K3<=Assumptions!$F$15,-K40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(L3>Assumptions!$F$8,0,IF(L3<=Assumptions!$F$15,-L40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(M3>Assumptions!$F$8,0,IF(M3<=Assumptions!$F$15,-M40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":-147992.01480762922},{"$f":"IF(N3>Assumptions!$F$8,0,IF(N3<=Assumptions!$F$15,-N40*Assumptions!$F$17,PMT(Assumptions!$F$17,Assumptions!$F$16,Assumptions!$I$5)))","v":0}]
[null,"Payoff",null,{"$f":"IF(D3=Assumptions!$F$8,-(D40+D42),0)","v":0},{"$f":"IF(E3=Assumptions!$F$8,-(E40+E42),0)","v":0},{"$f":"IF(F3=Assumptions!$F$8,-(F40+F42),0)","v":0},{"$f":"IF(G3=Assumptions!$F$8,-(G40+G42),0)","v":0},{"$f":"IF(H3=Assumptions!$F$8,-(H40+H42),0)","v":0},{"$f":"IF(I3=Assumptions!$F$8,-(I40+I42),0)","v":0},{"$f":"IF(J3=Assumptions!$F$8,-(J40+J42),0)","v":0},{"$f":"IF(K3=Assumptions!$F$8,-(K40+K42),0)","v":0},{"$f":"IF(L3=Assumptions!$F$8,-(L40+L42),0)","v":0},{"$f":"IF(M3=Assumptions!$F$8,-(M40+M42),0)","v":-1844307.6175489677}]
[null,"Total Ending Loan Balance",{"$f":"C40+C41+C42+C45","v":2275000},{"$f":"D40+D41+D42+D45","v":2240757.9851923706},2204803.8696443597,2167052.0483189486,2127412.6359272669,2085791.252916001,{"$f":"I40+I41+I42+I45","v":2042088.8007541718},{"$f":"J40+J41+J42+J45","v":1996201.2259842511},{"$f":"K40+K41+K42+K45","v":1948019.2724758345},{"$f":"L40+L41+L42+L45","v":1897428.221291997},{"$f":"M40+M41+M42+M45","v":0},{"$f":"N40+N41+N42+N45","v":0}]
[]
[null,"Levered Cash Flow",null,{"$f":"D37+D41+D44","v":109501.28119237081},{"$f":"E37+E41+E44","v":116790.48007237079},124298.35491877078,132031.46601056278,139996.57043510856,148200.62799239071,156650.80727639137,165354.49193891184,174319.28714130819,183553.02619977627,341055.79223762767]
[]
[null,"Sale",null,{"$f":"IF(D3=Assumptions!$F$8,E37/Assumptions!$F$7,0)","v":0},{"$f":"IF(E3=Assumptions!$F$8,F37/Assumptions!$F$7,0)","v":0},{"$f":"IF(F3=Assumptions!$F$8,G37/Assumptions!$F$7,0)","v":0},{"$f":"IF(G3=Assumptions!$F$8,H37/Assumptions!$F$7,0)","v":0},{"$f":"IF(H3=Assumptions!$F$8,I37/Assumptions!$F$7,0)","v":0},{"$f":"IF(I3=Assumptions!$F$8,J37/Assumptions!$F$7,0)","v":0},{"$f":"IF(J3=Assumptions!$F$8,K37/Assumptions!$F$7,0)","v":0},{"$f":"IF(K3=Assumptions!$F$8,L37/Assumptions!$F$7,0)","v":0},{"$f":"IF(L3=Assumptions!$F$8,M37/Assumptions!$F$7,0)","v":0},{"$f":"IF(M3=Assumptions!$F$8,N37/Assumptions!$F$7,0)","v":4872225.6033946807}]
[null,"Costs of Sale",null,{"$f":"-D50*Assumptions!$F$10","v":0},{"$f":"-E50*Assumptions!$F$10","v":0},{"$f":"-F50*Assumptions!$F$10","v":0},{"$f":"-G50*Assumptions!$F$10","v":0},{"$f":"-H50*Assumptions!$F$10","v":0},{"$f":"-I50*Assumptions!$F$10","v":0},{"$f":"-J50*Assumptions!$F$10","v":0},{"$f":"-K50*Assumptions!$F$10","v":0},{"$f":"-L50*Assumptions!$F$10","v":0},{"$f":"-M50*Assumptions!$F$10","v":-97444.512067893622}]
[null,"Debt Repayment",null,{"$f":"D45","v":0},{"$f":"E45","v":0},0,0,0,0,0,0,0,-1844307.6175489677]
[null,"Total Cash Flow from Sale",null,{"$f":"SUM(D50:D52)","v":0},{"$f":"SUM(E50:E52)","v":0},0,0,0,0,0,0,0,2930473.4737778194]
[]
[null,"Total Cash Flow",{"$f":"-Assumptions!I6","v":-1075500},{"$f":"IF(D3<=Assumptions!$F$8,D48+D53,0)","v":109501.28119237081},{"$f":"IF(E3<=Assumptions!$F$8,E48+E53,0)","v":116790.48007237079},{"$f":"IF(F3<=Assumptions!$F$8,F48+F53,0)","v":124298.35491877078},{"$f":"IF(G3<=Assumptions!$F$8,G48+G53,0)","v":132031.46601056278},{"$f":"IF(H3<=Assumptions!$F$8,H48+H53,0)","v":139996.57043510856},{"$f":"IF(I3<=Assumptions!$F$8,I48+I53,0)","v":148200.62799239071},{"$f":"IF(J3<=Assumptions!$F$8,J48+J53,0)","v":156650.80727639137},{"$f":"IF(K3<=Assumptions!$F$8,K48+K53,0)","v":165354.49193891184},{"$f":"IF(L3<=Assumptions!$F$8,L48+L53,0)","v":174319.28714130819},{"$f":"IF(M3<=Assumptions!$F$8,M48+M53,0)","v":3114026.4999775956}]
[]
[]
[null,"Deal Level IRR",null,{"$f":"IRR(C55:M55)","v":0.1931185497281489}]
[null,"Multiple",null,{"$f":"-SUM(D55:M55)/C55","v":4.0736121496567002}]
[null,"Net Profit",null,{"$f":"SUM(C55:M55)","v":3305669.8669557814}]
[null,"Capital",null,{"$f":"-C55","v":1075500}]