formulas.txt

Building_Efficiency = RENTABLE_SF / GROSS_SF
Land_Value_Per_GSF = LAND_VALUE / GROSS_SF
Land_Value_Per_RSF = LAND_VALUE / RENTABLE_SF
Land_Value_Per_Unit = LAND_VALUE / UNITS
Price_Per_Unit = PRICE / UNITS
Price_Per_GSF = PRICE / GROSS_SF
Price_Per_RSF = PRICE / RENTABLE_SF
Acquisition_Fee = LAND_VALUE * 0.02
Closing_Costs_Per_GSF = CLOSING_COSTS / GROSS_SF
Closing_Costs_Per_RSF = CLOSING_COSTS / RENTABLE_SF
Closing_Costs_Per_Unit = CLOSING_COSTS / UNITS
Acquisition_Fee_Per_GSF = ACQUISITION_FEE / GROSS_SF
Acquisition_Fee_Per_RSF = ACQUISITION_FEE / RENTABLE_SF
Acquisition_Fee_Per_Unit = ACQUISITION_FEE / UNITS
Total_Acquisition_Cost = LAND_VALUE + CLOSING_COSTS + ACQUISITION_FEE
Total_Acquisition_Cost_Per_GSF = TOTAL_ACQUISITION_COST / GROSS_SF
Total_Acquisition_Cost_Per_RSF = TOTAL_ACQUISITION_COST / RENTABLE_SF
Total_Acquisition_Cost_Per_Unit = TOTAL_ACQUISITION_COST / UNITS
Total_Construction_GMP = CONSTRUCTION_COST_PER_GSF * GROSS_SF
Construction_GMP_Per_GSF = TOTAL_CONSTRUCTION_GMP / GROSS_SF
Construction_GMP_Per_RSF = TOTAL_CONSTRUCTION_GMP / RENTABLE_SF
Construction_GMP_Per_Unit = TOTAL_CONSTRUCTION_GMP / UNITS
Architecture_And_Interior_Cost_Per_GSF = ARCHITECTURE_AND_INTERIOR_COST / GROSS_SF
Structural_Engineering_Cost_Per_GSF = STRUCTURAL_ENGINEERING_COST / GROSS_SF
MEP_Engineering_Cost_Per_GSF = MEP_ENGINEERING_COST / GROSS_SF
Civil_Engineering_Cost_Per_GSF = CIVIL_ENGINEERING_COST / GROSS_SF
Controlled_Inspections_Cost_Per_GSF = CONTROLLED_INSPECTIONS_COST / GROSS_SF
Surveying_Cost_Per_GSF = SURVEYING_COST / GROSS_SF
Utilities_Connection_Cost_Per_GSF = UTILITIES_CONNECTION_COST / GROSS_SF
Advertising_And_Marketing_Cost_Per_GSF = ADVERTISING_AND_MARKETING_COST / GROSS_SF
Accounting_Cost_Per_GSF = ACCOUNTING_COST / GROSS_SF
Monitoring_Cost_Per_GSF = MONITORING_COST / GROSS_SF
FF_And_E_Cost_Per_GSF = FF_AND_E_COST / GROSS_SF
Environmental_Consultant_Fee_Per_GSF = ENVIRONMENTAL_CONSULTANT_FEE / GROSS_SF
Miscellaneous_Consultants_Fee_Per_GSF = MISCELLANEOUS_CONSULTANTS_FEE / GROSS_SF
General_Legal_Cost_Per_GSF = GENERAL_LEGAL_COST / GROSS_SF
Real_Estate_Taxes_During_Construction_Per_GSF = REAL_ESTATE_TAXES_DURING_CONSTRUCTION / GROSS_SF
Miscellaneous_Admin_Cost_Per_GSF = MISCELLANEOUS_ADMIN_COST / GROSS_SF
IBR_Cost_Per_GSF = IBR_COST / GROSS_SF
Project_Team_Cost_Per_GSF = PROJECT_TEAM_COST / GROSS_SF
PEM_Fees_Per_GSF = PEM_FEES / GROSS_SF
Bank_Fees_Per_GSF = BANK_FEES / GROSS_SF
HPD_And_IH_Cost = (3500 * UNITS * 0.75) + (5000 * UNITS * 0.25)
HPD_And_IH_Fees_Per_GSF = HPD_AND_IH_COST / GROSS_SF
Retail_TI_And_LC_Cost = (RETAIL_REVENUE * 0.3) + (50 * RETAIL_SF)
Retail_TI_And_LC_Cost_Per_GSF = RETAIL_TI_AND_LC_COST / GROSS_SF
Total_Soft_Cost = ARCHITECTURE_AND_INTERIOR_COST + STRUCTURAL_ENGINEERING_COST + MEP_ENGINEERING_COST + CIVIL_ENGINEERING_COST + CONTROLLED_INSPECTIONS_COST + SURVEYING_COST + UTILITIES_CONNECTION_COST + ADVERTISING_AND_MARKETING_COST + ACCOUNTING_COST + MONITORING_COST + FF_AND_E_COST + ENVIRONMENTAL_CONSULTANT_FEE + MISCELLANEOUS_CONSULTANTS_FEE + GENERAL_LEGAL_COST + REAL_ESTATE_TAXES_DURING_CONSTRUCTION + MISCELLANEOUS_ADMIN_COST + IBR_COST + PROJECT_TEAM_COST + PEM_FEES + BANK_FEES + HPD_AND_IH_COST + RETAIL_TI_AND_LC_COST
Total_Soft_Cost_Per_GSF = TOTAL_SOFT_COST / GROSS_SF
Contingency_Cost = (TOTAL_CONSTRUCTION_GMP + TOTAL_SOFT_COST) * 0.05
Development_Fee = (TOTAL_CONSTRUCTION_GMP + TOTAL_SOFT_COST) * 0.04
Operating_Reserve = TOTAL_OPERATING_EXPENSES * 0.2
Contingency_Cost_Per_GSF = CONTINGENCY_COST / GROSS_SF
Development_Fee_Per_GSF = DEVELOPMENT_FEE / GROSS_SF
Financing_Cost_Per_GSF = FINANCING_COST / GROSS_SF
Interest_Reserve_Per_GSF = INTEREST_RESERVE / GROSS_SF
Operating_Reserve_Per_GSF = OPERATING_RESERVE / GROSS_SF
Total_Financing_Contingency_And_Reserves = TOTAL_SOFT_COST + TOTAL_CONSTRUCTION_GMP + TOTAL_ACQUISITION_COST + CONTINGENCY_COST + DEVELOPMENT_FEE + FINANCING_COST + INTEREST_RESERVE + OPERATING_RESERVE
Total_Project_Cost_Per_GSF = TOTAL_FINANCING_CONTINGENCY_AND_RESERVES / GROSS_SF
Total_Project_Cost_Per_RSF = TOTAL_FINANCING_CONTINGENCY_AND_RESERVES / RENTABLE_SF
Total_Project_Cost_Per_Unit = TOTAL_FINANCING_CONTINGENCY_AND_RESERVES / UNITS
Pre_LTC_Budget = TOTAL_SOFT_COST + CONTINGENCY_COST + DEVELOPMENT_FEE + OPERATING_RESERVE + TOTAL_CONSTRUCTION_GMP + TOTAL_ACQUISITION_COST
Loan_Amount = LTC_RATIO * PRE_LTC_BUDGET
Financing_Amount = FINANCING_PERCENTAGE * LOAN_AMOUNT
Interest_Rate_Decimal = (INTEREST_RATE_BASIS_POINTS + 430) / 10000
Construction_Interest = LOAN_AMOUNT * 0.7 * (INTEREST_RATE_DECIMAL / 12) * CONSTRUCTION_MONTHS
Total_Debt = CONSTRUCTION_INTEREST + LOAN_AMOUNT + FINANCING_AMOUNT
Total_Equity = TOTAL_FINANCING_CONTINGENCY_AND_RESERVES - TOTAL_DEBT
Debt_Percentage = TOTAL_DEBT / TOTAL_FINANCING_CONTINGENCY_AND_RESERVES
Equity_Percentage = TOTAL_EQUITY / TOTAL_FINANCING_CONTINGENCY_AND_RESERVES
Total_Capital_Stack = TOTAL_DEBT + TOTAL_EQUITY
Debt_Per_GSF = TOTAL_DEBT / GROSS_SF
Equity_Per_GSF = TOTAL_EQUITY / GROSS_SF
Debt_Per_Unit = TOTAL_DEBT / UNITS
Equity_Per_Unit = TOTAL_EQUITY / UNITS
Payroll_Per_Unit = PAYROLL / UNITS
Repairs_And_Maintenance_Per_Unit = REPAIRS_AND_MAINTENANCE / UNITS
Utilities_Per_Unit = UTILITIES / UNITS
Admin_And_Professional_Per_Unit = (ADMINISTRATIVE + PROFESSIONAL_FEES) / UNITS
Insurance_Per_Unit = INSURANCE / UNITS
Professional_Fees_Per_Unit = PROFESSIONAL_FEES / UNITS
Total_Operating_Expenses = PAYROLL + REPAIRS_AND_MAINTENANCE + UTILITIES + ADMINISTRATIVE + PROFESSIONAL_FEES + INSURANCE + PROPERTY_TAXES
Payroll_Percentage_Of_EGI = PAYROLL / EFFECTIVE_GROSS_INCOME
Repairs_And_Maintenance_Percentage_Of_EGI = REPAIRS_AND_MAINTENANCE / EFFECTIVE_GROSS_INCOME
Utilities_Percentage_Of_EGI = UTILITIES / EFFECTIVE_GROSS_INCOME
Admin_And_Professional_Percentage_Of_EGI = (ADMINISTRATIVE + PROFESSIONAL_FEES) / EFFECTIVE_GROSS_INCOME
Insurance_Percentage_Of_EGI = INSURANCE / EFFECTIVE_GROSS_INCOME
Professional_Fees_Percentage_Of_EGI = PROFESSIONAL_FEES / EFFECTIVE_GROSS_INCOME
Total_Operating_Expenses_Percentage_Of_EGI = TOTAL_OPERATING_EXPENSES / EFFECTIVE_GROSS_INCOME
Operating_Expenses_Per_Unit = TOTAL_OPERATING_EXPENSES / UNITS
Operating_Expenses_Per_GSF = TOTAL_OPERATING_EXPENSES / GROSS_SF
Trending_Term = LEASE_UP_MONTHS + STABILIZATION_MONTHS
Term_Revenue_Inflation = (1 + REVENUE_INFLATION_RATE) ** (TRENDING_TERM / 12)
Term_Expense_Inflation = (1 + EXPENSE_INFLATION_RATE) ** (TRENDING_TERM / 12)
Gross_Potential_Free_Market_Rent = FREE_MARKET_RENT_PSF * 0.75 * RENTABLE_SF
Gross_Potential_Affordable_Rent = AFFORDABLE_RENT_PSF * 0.25 * RENTABLE_SF
Other_Income = OTHER_INCOME_PER_UNIT * UNITS * 12 * 0.75
Vacancy_Loss = VACANCY_RATE * (OTHER_INCOME + GROSS_POTENTIAL_FREE_MARKET_RENT + GROSS_POTENTIAL_AFFORDABLE_RENT)
Effective_Gross_Income = GROSS_POTENTIAL_FREE_MARKET_RENT - VACANCY_LOSS + OTHER_INCOME + GROSS_POTENTIAL_AFFORDABLE_RENT
Retail_Revenue = RETAIL_RENT_PSF * RETAIL_SF
Management_Fee = MANAGEMENT_FEE_PERCENTAGE * EFFECTIVE_GROSS_INCOME
Real_Estate_Taxes = GROSS_SF * 30 * 0.1
Total_Expenses = PAYROLL + REPAIRS_AND_MAINTENANCE + UTILITIES + REAL_ESTATE_TAXES + MANAGEMENT_FEE
Net_Operating_Income = EFFECTIVE_GROSS_INCOME - TOTAL_EXPENSES + PARKING_INCOME + RETAIL_REVENUE
NOI_Per_Unit = NET_OPERATING_INCOME / UNITS
NOI_Per_GSF = NET_OPERATING_INCOME / GROSS_SF
Cap_Rate = (NET_OPERATING_INCOME / PRICE) * 100
Stabilized_Yield_On_Cost = (((EFFECTIVE_GROSS_INCOME + RETAIL_REVENUE - GROSS_POTENTIAL_AFFORDABLE_RENT) * TERM_REVENUE_INFLATION) - (TOTAL_EXPENSES * TERM_EXPENSE_INFLATION)) + GROSS_POTENTIAL_AFFORDABLE_RENT
Yield_On_Cost_Percentage = NET_OPERATING_INCOME / TOTAL_FINANCING_CONTINGENCY_AND_RESERVES
Stabilized_Yield_On_Cost_Percentage = STABILIZED_YIELD_ON_COST / TOTAL_FINANCING_CONTINGENCY_AND_RESERVES
Cash_On_Cash_Return = ((NET_OPERATING_INCOME - ANNUAL_DEBT_SERVICE) / TOTAL_EQUITY) * 100
Debt_Service_Coverage_Ratio = NET_OPERATING_INCOME / ANNUAL_DEBT_SERVICE
Annual_Debt_Service = LOAN_AMOUNT * INTEREST_RATE_DECIMAL
Property_Value_On_Sale = (STABILIZED_YIELD_ON_COST / EXIT_CAP_RATE_DECIMAL) + (STABILIZED_YIELD_ON_COST * 0.25)
Sale_Cost = SALE_COST_PERCENTAGE * PROPERTY_VALUE_ON_SALE
Net_Sale_Proceeds = PROPERTY_VALUE_ON_SALE - SALE_COST
Cash_Remaining_After_Loan_Payback = NET_SALE_PROCEEDS - TOTAL_DEBT
GP_Investment = TOTAL_EQUITY * 0.2
LP_Investment = TOTAL_EQUITY - GP_Investment
GP_Preferred_Return_With_Principal = (1 + GP_PREF_RATE / 12) ** HOLD_PERIOD_MONTHS * GP_INVESTMENT
LP_Preferred_Return_With_Principal = (1 + LP_PREF_RATE / 12) ** HOLD_PERIOD_MONTHS * LP_INVESTMENT
Cash_Remaining_After_Preferred = CASH_REMAINING_AFTER_LOAN_PAYBACK - LP_PREFERRED_RETURN_WITH_PRINCIPAL - GP_PREFERRED_RETURN_WITH_PRINCIPAL
Promote_On_Joint_Venture = PROMOTE_PERCENTAGE * CASH_REMAINING_AFTER_PREFERRED
Cash_To_LP = (CASH_REMAINING_AFTER_PREFERRED - PROMOTE_ON_JOINT_VENTURE) * (LP_INVESTMENT / (LP_INVESTMENT + GP_INVESTMENT))
Net_To_LP_Investor = CASH_TO_LP + LP_PREFERRED_RETURN_WITH_PRINCIPAL
LP_Multiple = NET_TO_LP_INVESTOR / LP_INVESTMENT
IRR_To_LP = ((NET_TO_LP_INVESTOR / LP_INVESTMENT) ** (12 / HOLD_PERIOD_MONTHS) - 1) * 100
Blended_Rent_Per_RSF = (FREE_MARKET_RENT_PSF * 0.75) + (AFFORDABLE_RENT_PSF * 0.25)
Total_Free_Market_Rent = FREE_MARKET_RENT_PSF * 425 / 12
Total_Blended_Rent = BLENDED_RENT_PER_RSF * 750 / 12
Free_Market_Rent_Per_SF = TOTAL_FREE_MARKET_RENT * 110 / 12
Affordable_Rent_Per_SF = AFFORDABLE_RENT_PSF * 110 / 12
Blended_Rent_Per_SF = TOTAL_BLENDED_RENT * 110 / 12
Average_Rent_Per_Unit = (GROSS_POTENTIAL_FREE_MARKET_RENT + GROSS_POTENTIAL_AFFORDABLE_RENT) / UNITS
Rent_Per_Unit_Per_Month = AVERAGE_RENT_PER_UNIT / 12