Returns Calculator

Project, sponsor, and LP returns with full waterfall and exit cap sensitivity.

Property

Purchase Price

NOI Year 1

Income Growth

Expense Growth

Exit Cap Rate

Hold Period

yrs

Financing

LTV

Interest Rate

Amortization

yrs

Interest-Only Period

yrs

Loan Fees

Model assumes the loan amortizes through the full hold period. Refinance modeling available in future versions.

Equity Structure

Preferred Return (LP)

Above Pref — LP

Above Pref — GP

Second Hurdle

Acquisition Fee

Asset Mgmt Fee

GP Co-Invest

Project IRR

9.0%

LP IRR

8.0%

GP IRR

23.8%

Y1 Cash-on-Cash

2.5%

Avg Cash-on-Cash

4.5%

LP Equity Multiple

2.00x

Y1 DSCR

1.21x

Sensitivity

LP IRR vs. Exit Cap Rate

6.00%	6.25%	6.50%	6.75%	7.00%
9.0%	8.5%	8.0%	7.6%	7.2%

Returns Calculator

Property

Financing

Equity Structure

LP IRR vs. Exit Cap Rate

Year-by-Year Cash Flow

GP Economics Breakdown

Developer / QA Tool