Need help farting
Description
I need help rechecking the assumptions in the excel file you helped make for me. Try rechecking the assumptions for acquisition cost and other assumptions. Is the roughly $46.8 million the property value? You get the idea, this shouldn’t take more than a few hours and I will be reachable for any questions.
Below is a summary of the assignment as a refresher
THIS IS THE PROPERTY ASSIGNED:
BostonView Apts, 130 Bowdoin St. in Boston, Massachusetts, zip code 02108, United States of America
I NEED HELP RESEARCHING THE ASSUMPTIONS BELOW:
1) # of units 2) property level details 3) Local demographics 4) Economic info 5) Financials
Please look at the attached documents for more insights. Let me know if you have any questions and I will help, more information if needed.
Unformatted Attachment Preview
Population
Population Estimates, July 1 2021, (V2021)
Population estimates base, April 1, 2020, (V2021)
Population, percent change – April 1, 2020 (estimates base) to July 1, 2021, (V2021)
Population, Census, April 1, 2020
Population, Census, April 1, 2010
Age and Sex
Persons under 5 years, percent
Persons under 18 years, percent
Persons 65 years and over, percent
Female persons, percent
Race and Hispanic Origin
White alone, percent
Black or African American alone, percent(a)
American Indian and Alaska Native alone, percent(a)
Asian alone, percent(a)
Native Hawaiian and Other Pacific Islander alone, percent(a)
Two or More Races, percent
Hispanic or Latino, percent(b)
White alone, not Hispanic or Latino, percent
DEMOGRAPHICS
Population
Population Estimates, July 1 2021, (V2021)
Population estimates base, April 1, 2020, (V2021)
Population, percent change – April 1, 2020 (estimates base) to July 1, 2021, (V2021)
Population, Census, April 1, 2020
Population, Census, April 1, 2010
Age and Sex
Persons under 5 years, percent
Persons under 18 years, percent
Persons 65 years and over, percent
Female persons, percent
Race and Hispanic Origin
White alone, percent
Black or African American alone, percent(a)
American Indian and Alaska Native alone, percent(a)
Asian alone, percent(a)
Native Hawaiian and Other Pacific Islander alone, percent(a)
Two or More Races, percent
Hispanic or Latino, percent(b)
White alone, not Hispanic or Latino, percent
654,776
676,216
-3.20%
675,647
617,594
4.90%
15.80%
11.80%
52.00%
52.10%
24.20%
0.30%
9.80%
0.10%
7.20%
19.50%
44.70%
Businesses
Total employer establishments, 2020
Total employment, 2020
Total annual payroll, 2020 ($1,000)
Total employment, percent change, 2019-2020
Total nonemployer establishments, 2019
All employer firms, Reference year 2017
Men-owned employer firms, Reference year 2017
Women-owned employer firms, Reference year 2017
Minority-owned employer firms, Reference year 2017
Nonminority-owned employer firms, Reference year 2017
Veteran-owned employer firms, Reference year 2017
Nonveteran-owned employer firms, Reference year 2017
GEOGRAPHY
Geography
Population per square mile, 2020
Population per square mile, 2010
Land area in square miles, 2020
Land area in square miles, 2010
FIPS Code
ECONOMIC INFO
Population Characteristics
Veterans, 2016-2020
Foreign born persons, percent, 2016-2020
Housing
Housing units, July 1, 2021, (V2021)
Owner-occupied housing unit rate, 2016-2020
Median value of owner-occupied housing units, 2016-2020
Median selected monthly owner costs -with a mortgage, 2016-2020
Median selected monthly owner costs -without a mortgage, 2016-2020
Median gross rent, 2016-2020
Building permits, 2021
Families & Living Arrangements
Households, 2016-2020
Persons per household, 2016-2020
Living in same house 1 year ago, percent of persons age 1 year+, 2016-2020
Language other than English spoken at home, percent of persons age 5 years+, 2016-2020
Computer and Internet Use
Households with a computer, percent, 2016-2020
Households with a broadband Internet subscription, percent, 2016-2020
Education
High school graduate or higher, percent of persons age 25 years+, 2016-2020
Bachelor’s degree or higher, percent of persons age 25 years+, 2016-2020
Health
With a disability, under age 65 years, percent, 2016-2020
Persons without health insurance, under age 65 years, percent
Economy
In civilian labor force, total, percent of population age 16 years+, 2016-2020
In civilian labor force, female, percent of population age 16 years+, 2016-2020
Total accommodation and food services sales, 2017 ($1,000)(c)
Total health care and social assistance receipts/revenue, 2017 ($1,000)(c)
Total transportation and warehousing receipts/revenue, 2017 ($1,000)(c)
Total retail sales, 2017 ($1,000)(c)
Total retail sales per capita, 2017(c)
Transportation
Mean travel time to work (minutes), workers age 16 years+, 2016-2020
Income & Poverty
Median household income (in 2020 dollars), 2016-2020
Per capita income in past 12 months (in 2020 dollars), 2016-2020
Persons in poverty, percent
BUSINESSES
Businesses
Total employer establishments, 2020
Total employment, 2020
Total annual payroll, 2020 ($1,000)
Total employment, percent change, 2019-2020
Total nonemployer establishments, 2019
All employer firms, Reference year 2017
Men-owned employer firms, Reference year 2017
Women-owned employer firms, Reference year 2017
Minority-owned employer firms, Reference year 2017
Nonminority-owned employer firms, Reference year 2017
Veteran-owned employer firms, Reference year 2017
Nonveteran-owned employer firms, Reference year 2017
GEOGRAPHY
Geography
Population per square mile, 2020
Population per square mile, 2010
Land area in square miles, 2020
Land area in square miles, 2010
FIPS Code
15,124
28.20%
X
35.30%
$581,200
$2,470
$818
$1,685
X
273,188
2.35
80.00%
37.10%
92.50%
87.10%
87.90%
51.30%
8.20%
3.90%
69.70%
67.40%
6,072,943
21,411,934
5,475,132
12,080,224
$17,552
30.7
$76,298
$46,845
18.00%
X
X
X
X
X
15,358
9,110
2,316
2,426
10,036
536
11,997
13,976.70
12,792.70
48.34
48.28
2507000
PROPERTY LEVEL DETAILS
Property Name
Address:
Total SQ Footage
Rent per SQ Footage per month
Total Rentable Units
Class
Going-In Market Cap
Going-Out Market Cap
Permanent Loan Rate
Building Parameters:
SF Per Unit
Number of Units
Project Cost Estimate
Value as Developed
Loan Parameters:
Loan Amount (75% LTV):
Staff salaries
Insurance
Utilities
Sales/Mktng/Admin
Management Fee
Repairs
Maintenance Captal Expenditures
Total Operating expenses
Taxes
BostonView Apartments
130 Bowdoin St, Boston, MA 02108
627
$
2,600
145
A
4.50%
9.00%
5.40%
Project Operations
Multifamily Apartments
Annual growth in rent
Vacancy Rate
Operating Expenses
Acquisition Cost
627
145
$
$
$
46,802,651,187
46,802,651,187 Cash Flow During Acquisition
Property Acquisition
35,101,988,390
Improvement Cost
8.0%
Total Investment
1.6%
2.0%
3.3%
Permanent Loan
3.5%
Perm. Loan Fees
2.0%
Net outflow from develop.
5.0%
Cash Flow During Operations
25.4%
Potential Gross Income (PGI)
Less: Vacancy
12.5%
Reimbursable Exp.
Misc. Inc.
Effective Gross Income (EGI)
Operating Exp.
Net Income
Less: Depreciation
Net Operating Income (NOI)
Annual Debt Service
BTCF – avail. for distribution
Less: Marginal Tax
ATCF – avail. for distribution
Cash Flow from Sale in Yr 10
Closing costs
Year 0
$ 46,802,651,187
$
$ 46,802,651,187
$ 46,802,651,187
Net cash flow at sale
Outstanding mortgage balance
BTER – avail. for distribution
Less: Capital Gains Tax
ATER – avail. for distribution
PROJECT LEVERED AND UNLEVERED CASH FLOWS
BEFORE TAX
Year 0
Project (unlevered)
$ (46,802,651,187)
Project (levered)
$ (46,802,651,187)
AFTER TAX
Project (unlevered)
Project (levered)
Year 0
$ (46,802,651,187)
$ (46,802,651,187)
PROJECT ASSUMPTIONS
Units
145
$
Rent/Mo.
1,630,200
Project Acquisition
Value as developed
Loan Amt. (75% loan-to-cost)
Loan interest rate
Loan amortization period
Loan acquisition costs
Project acquisition costs
Implied Capitalization Rate:
3.00%
0.47%
25.40%
$ 46,802,651,187
EXPECTED CASH FLOWS (10-YEAR PRO
Year 1
Year 2
Year 3
Year 4
$ 35,101,988,390
$
$ 35,101,988,390
$
$
$
$
$
$
$
$
$
$
$
$
$
2,836,548,000
13,331,776
2,823,216,224
717,096,921
2,106,119,303
2,106,119,303
2,365,301,680
(259,182,377)
(32,397,797)
(226,784,580)
$
$
$
$
$
$
$
$
$
$
$
$
$
2,921,644,440
13,731,729
2,907,912,711
738,609,829
2,169,302,883
2,169,302,883
2,365,301,680
(195,998,798)
(24,499,850)
(171,498,948)
$
$
$
$
$
$
$
$
$
$
$
$
$
3,009,293,773
14,143,681
2,995,150,092
760,768,123
2,234,381,969
2,234,381,969
2,365,301,680
(130,919,711)
(16,364,964)
(114,554,748)
$
$
$
$
$
$
$
$
$
$
$
$
$
3,099,572,586
14,567,991
3,085,004,595
783,591,167
2,301,413,428
2,301,413,428
2,365,301,680
(63,888,252)
(7,986,032)
(55,902,221)
ED CASH FLOWS
Year 1
$ 2,106,119,303
$ 46,543,468,810
Year 1
$ 1,842,854,390
$ 46,575,866,607
$
$
Year 2
2,169,302,883 $
(195,998,798) $
Year 3
2,234,381,969 $
(130,919,711) $
Year 4
2,301,413,428
(63,888,252)
$
$
Year 2
1,898,140,022 $
(171,498,948) $
Year 3
1,955,084,223 $
(114,554,748) $
Year 4
2,013,736,750
(55,902,221)
T ASSUMPTIONS
46,802,651,187
35,101,988,390
5.40%
360
0
0
9.00%
OWS (10-YEAR PRO FORMA)
Year 5
Year 6
Year 7
Year 8
$ 3,192,559,764
$
15,005,031
$
$
$ 3,177,554,733
$ 807,098,902
$ 2,370,455,831
$
$ 2,370,455,831
$ 2,365,301,680
$
5,154,150
$
644,269
$
4,509,882
$ 3,288,336,557
$
15,455,182
$
$
$ 3,272,881,375
$ 831,311,869
$ 2,441,569,506
$
$ 2,441,569,506
$ 2,365,301,680
$
76,267,825
$
9,533,478
$
66,734,347
$ 3,386,986,654
$
15,918,837
$
$
$ 3,371,067,816
$ 856,251,225
$ 2,514,816,591
$
$ 2,514,816,591
$ 2,365,301,680
$ 149,514,911
$
18,689,364
$ 130,825,547
$ 3,488,596,253
$
16,396,402
$
$
$ 3,472,199,851
$ 881,938,762
$ 2,590,261,089
$
$ 2,590,261,089
$ 2,365,301,680
$ 224,959,408
$
28,119,926
$ 196,839,482
Year 5
$ 2,370,455,831
$
5,154,150
Year 6
$ 2,441,569,506
$
76,267,825
Year 7
$ 2,514,816,591
$ 149,514,911
Year 8
$ 2,590,261,089
$ 224,959,408
Year 5
$ 2,074,148,852
$
4,509,882
Year 6
$ 2,136,373,318
$
66,734,347
Year 7
$ 2,200,464,517
$ 130,825,547
Year 8
$ 2,266,478,453
$ 196,839,482
Project Disposition
Holding Period (10 years)
10
Terminal cap rate
Selling expenses
Marginal Tax Rate
Capital Gains Tax
9.00%
5.00%
12.50%
5.10%
Year 9
$
$
$
$
$
$
$
$
$
$
$
$
$
3,593,254,141
16,888,294
3,576,365,846
908,396,925
2,667,968,921
2,667,968,921
2,365,301,680
302,667,241
37,833,405
264,833,836
Year 10
$
$
$
$
$
$
$
$
$
$
$
$
$
3,701,051,765
17,394,943
3,683,656,822
935,648,833
2,748,007,989
2,748,007,989
2,365,301,680
382,706,309
47,838,289
334,868,020
$ 31,449,424,763
$ 1,572,471,238
Year 11
$
$
$
$
$
$
$
$
$
$
$
$
$
3,812,083,318
17,916,792
3,794,166,526
963,718,298
2,830,448,229
2,830,448,229
2,365,301,680
465,146,548
58,143,319
407,003,230
$ 29,876,953,525
$ 25,304,763,896
$ 4,572,189,629
$
$ 4,572,189,629
$
$
Year 9
2,667,968,921
302,667,241
Year 10
$ 32,624,961,514
$ 4,954,895,938
$
$
Year 9
2,334,472,806
264,833,836
Year 10
$ 33,501,737,263
$ 4,907,057,649
Source:
https://www.trulia.com/c/ma/boston/bostonview-apartments-130-bowdoin-st-boston-ma-02108–2001394215
https://www.apartments.com/bostonview-apartments-boston-ma/mqk9s9h/
https://www.padmapper.com/buildings/p33161/bostonview-apartments-at-130-bowdoin-st-boston-ma-02108
https://pm.charlesgaterealty.com/our-portfolio/bostonview-apartments
https://apartmentloanstore.com/boston/massachusetts/cap-rate
https://apartmentloanstore.com/boston/massachusetts/multifamily-loan-rates
https://joeshimkus.com/MA-Tax-Rates.aspx
https://www.ocbuyshouses.com/blog/capital-gains-tax-ma/
https://www.census.gov/quickfacts/fact/dashboard/bostoncitymassachusetts/PST045221
08–2001394215
oston-ma-02108
Purchase answer to see full
attachment
Population Estimates, July 1 2021, (V2021)
Population estimates base, April 1, 2020, (V2021)
Population, percent change – April 1, 2020 (estimates base) to July 1, 2021, (V2021)
Population, Census, April 1, 2020
Population, Census, April 1, 2010
Age and Sex
Persons under 5 years, percent
Persons under 18 years, percent
Persons 65 years and over, percent
Female persons, percent
Race and Hispanic Origin
White alone, percent
Black or African American alone, percent(a)
American Indian and Alaska Native alone, percent(a)
Asian alone, percent(a)
Native Hawaiian and Other Pacific Islander alone, percent(a)
Two or More Races, percent
Hispanic or Latino, percent(b)
White alone, not Hispanic or Latino, percent
DEMOGRAPHICS
Population
Population Estimates, July 1 2021, (V2021)
Population estimates base, April 1, 2020, (V2021)
Population, percent change – April 1, 2020 (estimates base) to July 1, 2021, (V2021)
Population, Census, April 1, 2020
Population, Census, April 1, 2010
Age and Sex
Persons under 5 years, percent
Persons under 18 years, percent
Persons 65 years and over, percent
Female persons, percent
Race and Hispanic Origin
White alone, percent
Black or African American alone, percent(a)
American Indian and Alaska Native alone, percent(a)
Asian alone, percent(a)
Native Hawaiian and Other Pacific Islander alone, percent(a)
Two or More Races, percent
Hispanic or Latino, percent(b)
White alone, not Hispanic or Latino, percent
654,776
676,216
-3.20%
675,647
617,594
4.90%
15.80%
11.80%
52.00%
52.10%
24.20%
0.30%
9.80%
0.10%
7.20%
19.50%
44.70%
Businesses
Total employer establishments, 2020
Total employment, 2020
Total annual payroll, 2020 ($1,000)
Total employment, percent change, 2019-2020
Total nonemployer establishments, 2019
All employer firms, Reference year 2017
Men-owned employer firms, Reference year 2017
Women-owned employer firms, Reference year 2017
Minority-owned employer firms, Reference year 2017
Nonminority-owned employer firms, Reference year 2017
Veteran-owned employer firms, Reference year 2017
Nonveteran-owned employer firms, Reference year 2017
GEOGRAPHY
Geography
Population per square mile, 2020
Population per square mile, 2010
Land area in square miles, 2020
Land area in square miles, 2010
FIPS Code
ECONOMIC INFO
Population Characteristics
Veterans, 2016-2020
Foreign born persons, percent, 2016-2020
Housing
Housing units, July 1, 2021, (V2021)
Owner-occupied housing unit rate, 2016-2020
Median value of owner-occupied housing units, 2016-2020
Median selected monthly owner costs -with a mortgage, 2016-2020
Median selected monthly owner costs -without a mortgage, 2016-2020
Median gross rent, 2016-2020
Building permits, 2021
Families & Living Arrangements
Households, 2016-2020
Persons per household, 2016-2020
Living in same house 1 year ago, percent of persons age 1 year+, 2016-2020
Language other than English spoken at home, percent of persons age 5 years+, 2016-2020
Computer and Internet Use
Households with a computer, percent, 2016-2020
Households with a broadband Internet subscription, percent, 2016-2020
Education
High school graduate or higher, percent of persons age 25 years+, 2016-2020
Bachelor’s degree or higher, percent of persons age 25 years+, 2016-2020
Health
With a disability, under age 65 years, percent, 2016-2020
Persons without health insurance, under age 65 years, percent
Economy
In civilian labor force, total, percent of population age 16 years+, 2016-2020
In civilian labor force, female, percent of population age 16 years+, 2016-2020
Total accommodation and food services sales, 2017 ($1,000)(c)
Total health care and social assistance receipts/revenue, 2017 ($1,000)(c)
Total transportation and warehousing receipts/revenue, 2017 ($1,000)(c)
Total retail sales, 2017 ($1,000)(c)
Total retail sales per capita, 2017(c)
Transportation
Mean travel time to work (minutes), workers age 16 years+, 2016-2020
Income & Poverty
Median household income (in 2020 dollars), 2016-2020
Per capita income in past 12 months (in 2020 dollars), 2016-2020
Persons in poverty, percent
BUSINESSES
Businesses
Total employer establishments, 2020
Total employment, 2020
Total annual payroll, 2020 ($1,000)
Total employment, percent change, 2019-2020
Total nonemployer establishments, 2019
All employer firms, Reference year 2017
Men-owned employer firms, Reference year 2017
Women-owned employer firms, Reference year 2017
Minority-owned employer firms, Reference year 2017
Nonminority-owned employer firms, Reference year 2017
Veteran-owned employer firms, Reference year 2017
Nonveteran-owned employer firms, Reference year 2017
GEOGRAPHY
Geography
Population per square mile, 2020
Population per square mile, 2010
Land area in square miles, 2020
Land area in square miles, 2010
FIPS Code
15,124
28.20%
X
35.30%
$581,200
$2,470
$818
$1,685
X
273,188
2.35
80.00%
37.10%
92.50%
87.10%
87.90%
51.30%
8.20%
3.90%
69.70%
67.40%
6,072,943
21,411,934
5,475,132
12,080,224
$17,552
30.7
$76,298
$46,845
18.00%
X
X
X
X
X
15,358
9,110
2,316
2,426
10,036
536
11,997
13,976.70
12,792.70
48.34
48.28
2507000
PROPERTY LEVEL DETAILS
Property Name
Address:
Total SQ Footage
Rent per SQ Footage per month
Total Rentable Units
Class
Going-In Market Cap
Going-Out Market Cap
Permanent Loan Rate
Building Parameters:
SF Per Unit
Number of Units
Project Cost Estimate
Value as Developed
Loan Parameters:
Loan Amount (75% LTV):
Staff salaries
Insurance
Utilities
Sales/Mktng/Admin
Management Fee
Repairs
Maintenance Captal Expenditures
Total Operating expenses
Taxes
BostonView Apartments
130 Bowdoin St, Boston, MA 02108
627
$
2,600
145
A
4.50%
9.00%
5.40%
Project Operations
Multifamily Apartments
Annual growth in rent
Vacancy Rate
Operating Expenses
Acquisition Cost
627
145
$
$
$
46,802,651,187
46,802,651,187 Cash Flow During Acquisition
Property Acquisition
35,101,988,390
Improvement Cost
8.0%
Total Investment
1.6%
2.0%
3.3%
Permanent Loan
3.5%
Perm. Loan Fees
2.0%
Net outflow from develop.
5.0%
Cash Flow During Operations
25.4%
Potential Gross Income (PGI)
Less: Vacancy
12.5%
Reimbursable Exp.
Misc. Inc.
Effective Gross Income (EGI)
Operating Exp.
Net Income
Less: Depreciation
Net Operating Income (NOI)
Annual Debt Service
BTCF – avail. for distribution
Less: Marginal Tax
ATCF – avail. for distribution
Cash Flow from Sale in Yr 10
Closing costs
Year 0
$ 46,802,651,187
$
$ 46,802,651,187
$ 46,802,651,187
Net cash flow at sale
Outstanding mortgage balance
BTER – avail. for distribution
Less: Capital Gains Tax
ATER – avail. for distribution
PROJECT LEVERED AND UNLEVERED CASH FLOWS
BEFORE TAX
Year 0
Project (unlevered)
$ (46,802,651,187)
Project (levered)
$ (46,802,651,187)
AFTER TAX
Project (unlevered)
Project (levered)
Year 0
$ (46,802,651,187)
$ (46,802,651,187)
PROJECT ASSUMPTIONS
Units
145
$
Rent/Mo.
1,630,200
Project Acquisition
Value as developed
Loan Amt. (75% loan-to-cost)
Loan interest rate
Loan amortization period
Loan acquisition costs
Project acquisition costs
Implied Capitalization Rate:
3.00%
0.47%
25.40%
$ 46,802,651,187
EXPECTED CASH FLOWS (10-YEAR PRO
Year 1
Year 2
Year 3
Year 4
$ 35,101,988,390
$
$ 35,101,988,390
$
$
$
$
$
$
$
$
$
$
$
$
$
2,836,548,000
13,331,776
2,823,216,224
717,096,921
2,106,119,303
2,106,119,303
2,365,301,680
(259,182,377)
(32,397,797)
(226,784,580)
$
$
$
$
$
$
$
$
$
$
$
$
$
2,921,644,440
13,731,729
2,907,912,711
738,609,829
2,169,302,883
2,169,302,883
2,365,301,680
(195,998,798)
(24,499,850)
(171,498,948)
$
$
$
$
$
$
$
$
$
$
$
$
$
3,009,293,773
14,143,681
2,995,150,092
760,768,123
2,234,381,969
2,234,381,969
2,365,301,680
(130,919,711)
(16,364,964)
(114,554,748)
$
$
$
$
$
$
$
$
$
$
$
$
$
3,099,572,586
14,567,991
3,085,004,595
783,591,167
2,301,413,428
2,301,413,428
2,365,301,680
(63,888,252)
(7,986,032)
(55,902,221)
ED CASH FLOWS
Year 1
$ 2,106,119,303
$ 46,543,468,810
Year 1
$ 1,842,854,390
$ 46,575,866,607
$
$
Year 2
2,169,302,883 $
(195,998,798) $
Year 3
2,234,381,969 $
(130,919,711) $
Year 4
2,301,413,428
(63,888,252)
$
$
Year 2
1,898,140,022 $
(171,498,948) $
Year 3
1,955,084,223 $
(114,554,748) $
Year 4
2,013,736,750
(55,902,221)
T ASSUMPTIONS
46,802,651,187
35,101,988,390
5.40%
360
0
0
9.00%
OWS (10-YEAR PRO FORMA)
Year 5
Year 6
Year 7
Year 8
$ 3,192,559,764
$
15,005,031
$
$
$ 3,177,554,733
$ 807,098,902
$ 2,370,455,831
$
$ 2,370,455,831
$ 2,365,301,680
$
5,154,150
$
644,269
$
4,509,882
$ 3,288,336,557
$
15,455,182
$
$
$ 3,272,881,375
$ 831,311,869
$ 2,441,569,506
$
$ 2,441,569,506
$ 2,365,301,680
$
76,267,825
$
9,533,478
$
66,734,347
$ 3,386,986,654
$
15,918,837
$
$
$ 3,371,067,816
$ 856,251,225
$ 2,514,816,591
$
$ 2,514,816,591
$ 2,365,301,680
$ 149,514,911
$
18,689,364
$ 130,825,547
$ 3,488,596,253
$
16,396,402
$
$
$ 3,472,199,851
$ 881,938,762
$ 2,590,261,089
$
$ 2,590,261,089
$ 2,365,301,680
$ 224,959,408
$
28,119,926
$ 196,839,482
Year 5
$ 2,370,455,831
$
5,154,150
Year 6
$ 2,441,569,506
$
76,267,825
Year 7
$ 2,514,816,591
$ 149,514,911
Year 8
$ 2,590,261,089
$ 224,959,408
Year 5
$ 2,074,148,852
$
4,509,882
Year 6
$ 2,136,373,318
$
66,734,347
Year 7
$ 2,200,464,517
$ 130,825,547
Year 8
$ 2,266,478,453
$ 196,839,482
Project Disposition
Holding Period (10 years)
10
Terminal cap rate
Selling expenses
Marginal Tax Rate
Capital Gains Tax
9.00%
5.00%
12.50%
5.10%
Year 9
$
$
$
$
$
$
$
$
$
$
$
$
$
3,593,254,141
16,888,294
3,576,365,846
908,396,925
2,667,968,921
2,667,968,921
2,365,301,680
302,667,241
37,833,405
264,833,836
Year 10
$
$
$
$
$
$
$
$
$
$
$
$
$
3,701,051,765
17,394,943
3,683,656,822
935,648,833
2,748,007,989
2,748,007,989
2,365,301,680
382,706,309
47,838,289
334,868,020
$ 31,449,424,763
$ 1,572,471,238
Year 11
$
$
$
$
$
$
$
$
$
$
$
$
$
3,812,083,318
17,916,792
3,794,166,526
963,718,298
2,830,448,229
2,830,448,229
2,365,301,680
465,146,548
58,143,319
407,003,230
$ 29,876,953,525
$ 25,304,763,896
$ 4,572,189,629
$
$ 4,572,189,629
$
$
Year 9
2,667,968,921
302,667,241
Year 10
$ 32,624,961,514
$ 4,954,895,938
$
$
Year 9
2,334,472,806
264,833,836
Year 10
$ 33,501,737,263
$ 4,907,057,649
Source:
https://www.trulia.com/c/ma/boston/bostonview-apartments-130-bowdoin-st-boston-ma-02108–2001394215
https://www.apartments.com/bostonview-apartments-boston-ma/mqk9s9h/
https://www.padmapper.com/buildings/p33161/bostonview-apartments-at-130-bowdoin-st-boston-ma-02108
https://pm.charlesgaterealty.com/our-portfolio/bostonview-apartments
https://apartmentloanstore.com/boston/massachusetts/cap-rate
https://apartmentloanstore.com/boston/massachusetts/multifamily-loan-rates
https://joeshimkus.com/MA-Tax-Rates.aspx
https://www.ocbuyshouses.com/blog/capital-gains-tax-ma/
https://www.census.gov/quickfacts/fact/dashboard/bostoncitymassachusetts/PST045221
08–2001394215
oston-ma-02108
Purchase answer to see full
attachment
Explanation & Answer:
1 Excel Sheet
User generated content is uploaded by users for the purposes of learning and should be used following Studypool’s honor code & terms of service.
Have a similar assignment? "Place an order for your assignment and have exceptional work written by our team of experts, guaranteeing you A results."
Complete the 
Complete the order payment after filling in the order form. We’ll receive your order and assign it to a writer.
The assigned writer will complete your paper and forward it to our Editing Team for review and approval.
Once approved by the editor, the completed paper will be uploaded to your account for you to download, review and approve.