[Lizzie Boyer]

7 years, 6 months ago in reply to: Value-Add Office Investment #3156

One more question – sorry to be a pain but this model is amazing and digging in and learning the functions more and more every day are bringing up more questions. How is the renewal probability calculated on the back end. Like if I have a 50% renewal probability how does that equate on the back end?

[Lizzie Boyer]

7 years, 6 months ago in reply to: Value-Add Office Investment #3154

Also – we are going to have a quick close and wont be able to close with debt. Is there a way to model where you bring in construction debt month 3 and close with all cash. And still take out the construction debt in 36 months with perm debt.

Thanks!

[Lizzie Boyer]

7 years, 6 months ago in reply to: Value-Add Office Investment #3152

Thank you Spencer, very helpful.

Another question – how do you change the funding method for the construction loan from Loan 1st, Equity 2nd. I see it on the Dev-Data tab but know how to change it.

Thanks in advance – model is one of a kind!

[Lizzie Boyer]

7 years, 9 months ago in reply to: CapEx Below NOI #3098

Oh okay that makes sense why the sponsor’s return would only adjust if the property was sold. Thanks again for the explanation.

[Lizzie Boyer]

7 years, 9 months ago in reply to: CapEx Below NOI #3094

Okay that makes sense. Thanks for taking the time to explain.

I was playing with the Equity CF tab and I think I found an issue with the calculations.
I set my sponsor equity to 6.19% and pre hurdle 1 to 8%.
Sponsor 172,315
LP 2,612,685

Then the split is 70/30% to the LP after the hurdle is met

Cash flow for distribution in year 3 is 415,544
Req’d return by LP to hit hurdle 1 is 201,053
Req’d return Sponsor to hit hurdle 1 is 13,260

So the remaining to be split 70/30% should be 237,230

30% to Sponsor 71,169
70% to LP 166,061

[Lizzie Boyer]

7 years, 9 months ago in reply to: Renewal Percentage in MF Module Not Working #2818

I saw that when digging through the back-end formulas. Thanks for the quick reply and for the work you do.

[Lizzie Boyer]

7 years, 9 months ago in reply to: Construction Draw tab #3064

Thanks… I will upgrade…sorry for the confusion..

[Lizzie Boyer]

7 years, 9 months ago in reply to: Construction Draw tab #3060

Just looked… using 2007 Excel and Windows 7

[Lizzie Boyer]

7 years, 9 months ago in reply to: Construction Draw tab #3056

Here is a video of my screen… Can it be a setting on the Excel file? See attached video… Sorry to bother you on this, just trying to grasp the complexity of your work…thanks!

[Lizzie Boyer]

7 years, 9 months ago in reply to: Construction Draw tab #3052

On the budget tab C8 should have a drop down as well according to the video.

[Lizzie Boyer]

7 years, 9 months ago in reply to: Modeling Equity CF #3034

Thanks for the explanation and I do understand that. Instead of strictly acquisition-only or development-only, I’m trying to model something which allows for both acquisition and development. For e.g. if there is substantial value-add work to be done on the income-producing property and a separate re-development loan has to be taken up on top of additional equity. Based on your experience, should this be regarded as an additional investment cost or should I just net this off from the operating cash flows?

[Lizzie Boyer]

7 years, 9 months ago in reply to: #Name Error on Budget Sheet #2810

What is confusing is I just again went back to my download folder and opened the untouched version of the spreadsheet delivered to me by your email system and opened up an original clean file.

1. Open original file (no data entered)
2. Activate Macros
3. Went to Summary Tab
4. Turned on Development Module
5. Changed Construction Length to 12 Months (development tabs appear)
6. Go to Budget Tab and none of your prefilled budget numbers are spread. Same problem as I described before.

I attached your original file which has not been saved over. Any additional thoughts. Maybe this copy was corrupted somehow otherwise it seem Office 2007 may not be compatible for some reason.

Does it work for you if you open the attached file?

[Lizzie Boyer]

7 years, 9 months ago in reply to: #Name Error on Budget Sheet #2806

I have Microsoft Office Excel 2007 if that makes a difference.

I’m sending you the original download and a version I added some information to.