Cash flow proforma

Year 0 Year 1 Year 2

Potential gross income + 1,685,377 1,715,672
Vacancy - 113,764 56,882
Credit loss - 55,006 58,058
Effective gross income = 1,516,607 1,600,732
Expense reimbursements + 332,505 346,049
Total operating revenue = 1,849,112 1,946,781
Operating expenses - 958,684 982,651
Net operating income = 890,428 964,130
-
Capital expenditures Leasing
commissions 1,138 1,138
Management fee - 51,870 51,870
Reversion sale price +
=
Property before tax cash flow 837,420 911,122
from operations
Property before tax cash flow -10,400,000 837,420 911,122

100% cap IIR 14.3%

Interest pamt -6,760,000 567,076 567,076

IRR 7.6%

Equity Casfh flow after interest -3,640,000 270,345 344,047

irr 24.9%

Investment
95% investors (3,458,000)
5% Firm (182,000)

8% pref pmt to investors 276,640 277,144

Pre paid 270,345 344,047
Surplus (acrued) -6,295 66,903

Begining equty balance 3,458,000 3,458,000 3,464,295

Ending equity balance 3,458,000 3,464,295 3,464,295

Cash flow to investors 0 270,345 277,144

70/30 splt on surplus 0 46,832
Cashflow to investors (3,458,000) 270,345 323,976
IRR 21.17%

Cas flow to wlcat (182,000) 0

30% to Wildcat 20,071
Cashflow to wilcadt -182,000 0 20,071
IRR 71.0%

Debt outstanding -6,760,000

@ 6.75% 6.75%
Term 25

Y Int balance Interest

0 6,760,000
1 6,760,000 456,300
2 6,649,224 448,823
3 6,530,972 440,841
4 6,404,737 432,320
5 6,269,981 423,224
6 6,126,129 413,514
7 5,972,567 403,148
8 5,808,640 392,083
9 5,633,648 380,271
10 5,446,843 367,662
11 5,247,430 354,202
12 5,034,556 339,833
13 4,807,313 324,494
14 4,564,731 308,119
15 4,305,775 290,640
16 4,029,339 271,980
17 3,734,244 252,061
18 3,419,230 230,798
19 3,082,952 208,099
20 2,723,976 183,868
21 2,340,769 158,002
22 1,931,695 130,389
23 1,495,009 100,913
24 1,028,847 69,447
25 531,218 35,857
Year 3 Year 4
1,746,573 1,778,091

61,130 62,233
1,685,443 1,715,858
359,592 359,592
2,045,035 2,075,450
1,007,218 1,032,398
1,037,817 1,043,052

1,138
51,870
12,417,285

984,809

13,402,094

7,163,954

6,238,140

277,144
6,238,140
5,960,996 2,496,701
2,314,701
3,464,295 1,620,291
3,464,295 694,410

3,741,439
1,620,291
 5,361,729

876,410
876,410

Pmt Ending balance

6,760,000
567,076 6,649,224
567,076 6,530,972 Penalty fee
567,076 6,404,737 192,142
567,076 6,269,981
567,076 6,126,129
567,076 5,972,567
567,076 5,808,640
567,076 5,633,648
567,076 5,446,843
567,076 5,247,430
567,076 5,034,556
567,076 4,807,313
567,076 4,564,731
567,076 4,305,775
567,076 4,029,339
567,076 3,734,244
567,076 3,419,230
567,076 3,082,952
567,076 2,723,976
567,076 2,340,769
567,076 1,931,695
567,076 1,495,009
567,076 1,028,847
567,076 531,218
567,076 0
Remaing cap gains
Money left after paying wilcat invesment
Surplus to investsots
Surplus to wilcat
 Year 0 Year 1
Equity level cashflows
Equity-level operational before tax cash flow
Equity-level reversion before tax cash flow
Equity-level before tax cash flow

INVESTOR EQUITY CAPITAL ACCOUNT:

Beginning equity investment balance
Annual preferred investment
Preferred return earned
Preferred return paid
Accrued but unpaid preferred return
Ending equity investment balance

WILDCAT EQUITY CAPITAL ACCOUNT:

Beginning equity investment balance
Annual subordinated investment
Ending equity investment balance

OPERATIONAL CASH FLOW:

Investor-level cash flows
Wildcat cash flows (excluding management fee)

REVERSION ALLOCATIONS:
Investor return of equity (with preference)
Wildcat return of equity
Investor additional proceeds
Wildcat additional proceeds

REVERSION CASH FLOW:

Investor-level cash flows
Wildcat-level cash flows

TOTAL EBTCF:
Investor-level cash flows
Wildcat-level cash flows
Year 2 Year 3 Year 4