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601 Liberty, 1.1M sf Office, Conventional Mortgage

Input array: AVI

AVI[1] No. of acres (or sq.ft. of land) 64.6
AVI[2] Land cost (/acre or /sq.ft.)(Total $ if AVI[1]=0) 200
AVI[3] Rent periods/year (1 or 365=commercial;12=resid.) 1
AVI[4] Building efficiency (GLA:GBA) (or GLA) 0.93
AVI[6] Units to develop 1100
AVI[13] Building cost ($/sq.ft.if AVI[101]=sq.ft.) 120
AVI[20],fin.fees,acctg.adj.(ProCash checks) 17.49985371
AVI[26] Mortgage close (mos.after opening, % rented, or date) 9
AVI[28] Mos. after open to realize expected income 18
AVI[29] Vacancy at opening as a decimal of total $ 0.6
AVI[30] Adj. factor to get occupancy from AVI[29] RU(.55) 0.9
AVI[38] Construction financing interest rate 0.14
AVI[39] Internal interest rate 0.14
AVI[40] Minimum income/unit before vacancy(ex.AVI[7]units) 30
AVI[44] Start-up operating losses (financed & expensed) 2.128963533
AVI[53] Vacancy rate (in normal operating years) 0.05
AVI[55] Operating expenses (fixed, per unit) 5.5
AVI[58] Real estate taxes (% rent roll) or ($/$00 value) 0.065
AVI[60] Capital replacement (decimal of DFI or $/unit/yr) 0.015
AVI[61] 1st mortgage loan to value Ratio or $ Amount 0.75
AVI[62] 1st mortgage interest rate 0.15
AVI[63] 1st mortgage term in Years (0=interest only) 30
AVI[90] Land lease rate (% of AVI[92] Price or $/Year) 0.09
AVI[93] Who will own land (if land lease exists) 3
AVI[112] Capitalization Rate for Mortgage 0.12
AVI[113] Capitalization Rate for Ending Value(0=Orig.Cost) 0.12
AVI[131] Annual Growth Rate for Gross Income MV[1] 0.08
AVI[132] Annual Growth Rate for Operating Expenses MV[2] 0.08
AVI[133] No. of Years to Hold Income Constant MV[3] 3
AVI[134] No. of Years to Hold Operating Expenses Constant MV[4] 3
AVI[135] Periods from Start of Analysis to Opening(MV[18]) MV[5] 8
AVI[142] No.Periods to project (MV[19] period definition) MV[13] 10
AVI[150] Term Over Which to Depreciate Capital Improvements MV[23] 20
AVI[152] Exclude operating losses AVI[44] from mortgage financing(0=inc.)MV[25]  
AVI[158] Starting Year (if MV[31]=0, then 1 2..) MV[31] 1986

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