Course curriculum

  • 1

    Introduction

    • Course Objectives

    • Download Course Files

    • High Level Considerations

    • Terms and Definitions
  • 2

    Reaching Loan-to-Cost

    • Budget

    • Land, Due Diligence, and Closing Costs

    • Soft Costs

    • Fees

    • Types of Fees

    • Land Servicing

    • Hard Costs

    • Financing

    • Sales, Marketing, and Lease-Up

    • Other

    • Contingency

    • Loan-to-Cost Roundup - Nuances in Line Items

    • Loan-to-Cost Roundup - Differences in Line Items

    • Loan-to-Cost Roundup - Other Concepts and Calculations

    • Loan-to-Cost Roundup - Loan Amount and Required Equity
  • 3

    Calculating Interest Expense

    • Calculating Interest - Pre-Construction

    • Calculating Interest - Construction

    • Calculating Interest - Pre-Leasing, Lease-Up, Stabilization, and Sale

    • Maximum Loan Amount
  • 4

    Quantitative Terms in the Term Sheet

    • Interest Rate

    • Interest Payments
  • 5

    Qualitative Terms in the Term Sheet

    • Loan-to-Cost, Interest Rates, and Tradeoffs

    • Key Qualitative Terms in the Term Sheet
  • 6

    Construction Loan Repayment

    • Development Scenarios

    • Build-to-Sell Units

    • Sale of a Stabilized Operating Asset

    • Take-Out Loan
  • 7

    Final Considerations

    • Capital Stack

    • Promote Structure
  • 8

    Conclusion

    • Conclusion
  • 9

    Qualified Assessments

    • Qualified Assessment

    • Share Your Feedback

    • Course Completion