Pro Forma II: A Development Pro Forma

Welcome to the Course!

Before you begin...

Pre-Quiz Self Assessment

Before your first live class... (PLEASE READ)

Accessing On-Demand Materials

September 19, 2023 12-1pm ET - Join Zoom here!

September 22, 2023 12-1pm ET - Join Zoom here!

September 26, 2023 12-1pm ET - Join Zoom here!

Course Introduction

The Basics

The Evolution of Pro Formas

Static Feasibility Analysis

Residual Land Value

Sensitivity Analysis

The Pre-Development Phase

Financing the Pre-Development Phase

Fixing and Refining the Data

The Interaction of Entitlements and the Pro Forma

The Interaction of Entitlements and the Pro Forma- Financing with a Loan

The Interaction of Entitlements and the Pro Forma- Construction Costs and Affordable Housing

The Interaction of Entitlements and the Pro Forma- Development Costs

Construction Costs- Horizontal and Veritical

Construction Costs - Soft Costs

Cost Estimates-Allowances

Why Excel Modeling for Development is Different from Modeling for Investment

Exercises

Basic Elements of Leverage and Capital Stack

Simple Leverage Example

Real World Example Pro Formas that Cover Construction and the Start-up Period

Special Issues with Modeling the Construction Phase

Special Issues with Modeling the Start-up Operations Phase

Review of a Complex Model for Demonstration Purposes I

Review of a Complex Model for Demonstration Purposes II

Checklist, Information Sources, and Follow-up Possibilities

Sources of Information and Recommended Resources

Up Next: Test Your Knowledge

Pro Forma II: A Development Pro Forma Quiz

Next Steps

Before you go...