Pro Forma II: A Development Pro Forma

Course Overview and Objectives

Meet Your Instructor

What is Included?

Getting Around

Before You Begin...

Pre-Quiz Self Assessment

Before Your First Zoom Class (Please read)

Tuesday, February 4, 2025 12-1pm ET - Join Zoom here!

Tuesday, February 11, 2025 12-1pm ET - Join Zoom here!

Tuesday, February 18, 2025 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

Test Your Knowledge

Pro Forma II: A Development Pro Forma Quiz

Your Thoughts

Thank You