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SO1lW2fB : Hh(I~UJ V9f. O.11.W
<br />File : Post Desgn Development • 9-98 COIII~fI0U89 SQUBfB
<br />
<br />Properry Type : Oifice 3 Retail Cour16 High Stree~
<br />Salem, Orepon
<br />Portfollo • SCHEDULE OF PROSPECTNE CASH FLOW
<br /> In Inllated DollazsYor the Fiscel Yeu 6eginninp 711M997
<br />Year 1 Year 2 Year 3 Year 4 Yeu 5 Yeer 6 Year T
<br />2004
<br />J Year B
<br />Juo-2005 Year 9
<br />Jun-2006 Year 10
<br />Juo-2D07
<br />Fa the Years Ending Juo-1998 Jun-1999 Jun-2000 Jun•2001 Jurr2002 Jun•2003 un•
<br />POTENT44LGROSSREVENUE S1
<br />gqg,p59 iS 829,059 51,829,059 51,829,059 1f ,829,059 51,829,059 ~1,829,059 51,829,059
<br />Bese Rental Revenue ,
<br />059
<br />829
<br />1
<br />1,829,059
<br />1,829,059
<br />1,829,059
<br />1,829,059
<br />1,829,058
<br />1,829,059
<br />1,829,059
<br />Scheduled Base Rental Revenue ,
<br />,
<br />F~cpense Reimbursement Revenue 31~g~ 37,502 43,967 50,693 57,685 64,959 72,523 80,3BB
<br />CLEANING FJ(P 8,691 10,418 12,213 14,D81 16,023 18,042 20,145
<br />342
<br />1 22,329
<br />~87
<br />1
<br />PERSONNEL 579 6gq 814 93B 1,068 1,202 , ,
<br />AryNOR MAINT 373
<br />6 7,638 8,958 10,324 11,750 13,233 14,772 16,375
<br />OTHERMWNT ,
<br />110
<br />8 723
<br />9 11,399 13,143 14,955 16,&41 18,801 20,840
<br />HVAC MAINT ,
<br />739
<br />1 ,
<br />084
<br />2 2,~42 2,816 3,205 3,607 4,029 ~,46/
<br />ELEC NWNT ,
<br />3,5~3qp ,
<br />42,362 49,687 57,263 65,164 73,379 81,922
<br />358
<br />3 90,806
<br />721
<br />3
<br />UTWTIES ~~qg 1~73g 2,036 2,348 2,672 3,006 , ,
<br />SECURITYIUFE SAFTY
<br />MANAGMENTFEE
<br />GROUNDSIROADS MAINT
<br />REAL PROPERTY TAX 924
<br />4 5,903 6,922 7,981 9,080 10,226 11,415 12,654
<br />INSURANCE ,
<br />PROF FEES Z~ ~ qpg q~,q 534 602 669 745
<br />OTHER BLDG MGMT COSTS
<br /> 779
<br />98 118,408 13B,B26 160,056 182,136 205,091 228,978 253'$~~
<br />Total Reimbursemenl Revenue ,
<br /> 800
<br />130 136,032 141,473 147,132 153,017 159,138 165~F~04 172~124
<br />Parking Revenue ,
<br />058
<br />638
<br />2 083,499
<br />2 2,109,358 2,136,247 2,164,212 2,193,294 2,223,539 2,254,994
<br />TOTAL POTENTIAL GROSS REVENUE ,
<br />,
<br />9 F+&`+ ,
<br />9 633 _ (9,704, 9 77e -(,~4) -~-~ 10 01 10102
<br />Generel Vacancy 073
<br />049
<br />2 073,866
<br />2 2,099,654 2126,469 2,154,358 2,183,360 2,213,523 2,244,892
<br />EFFECTIVE GROSS REVENUE ,
<br />, ,
<br />OPERATING El(PENSES 155,428 161,645 168,111 174,836 181,829 189,102 196,666
<br />630
<br />54 2W,533
<br />815
<br />56
<br />CLEANING EXP
<br />L q3,114 44,901 46,698 48,565 50,508 52,528
<br />3
<br />502 ,
<br />64Z
<br />3 ,
<br />3
<br />788
<br />PERSONNE
<br />MINOR MAINT 2,878
<br />661
<br />31 2,993
<br />928
<br />32 3,113
<br />34,245 3,238
<br />35,615 3,367
<br />37,039 ,
<br />38,521 ~
<br />40,062 '
<br />41,664
<br />OTHERMAINT
<br />T ,
<br />40,296 ,
<br />41,908 43,584 45,328 47,141 49,026
<br />506
<br />10 50,988
<br />926
<br />10 53,027
<br />363
<br />11
<br />HVAC NWN
<br />ELEC MAINT g p5
<br />576
<br />175 8,980
<br />599
<br />182 9,340
<br />189,903 9,713
<br />197,499 10,102
<br />205,399 ,
<br />213,615 ,
<br />222,160 ,
<br />231,046
<br />UTILITIES ,
<br />~ ~gg ,
<br />~~4gq 7,783 8,094 8,418 8,755 9,105 9,469
<br />SECURINILIFE SAFTY
<br />MANAGMENTFEE
<br />GROUN0.SIROADSMAINT ~g~ 378
<br />1g 20,153 20,959 21,798 22,610 23,576 24,519
<br />REAL PROPERTY TAX 24,466 ,
<br />25,444 26,46Z 27,520 28,621 29,766 30,957 32,195
<br />INSURANCE
<br />PROF FEES ~ 439
<br />1 497
<br />1 1,557 1,619 1,684 1,751 1,821 1,894
<br />OTHER BLDG MGhfT COSTS ,
<br />509
<br />382 ,
<br />529,757
<br />550,949
<br />572,986
<br />595,906
<br />619,742
<br />644,533
<br />670,313
<br />TOTAL OPERATING EXPENSES ,
<br /> 691
<br />1539 544,109
<br />1 1548,T05 1553,483 1,558,452 1,563,618 1568 1,574,579
<br />NET OPERATING INCOME , ,
<br />LEASING 8 CAPITAL COSTS 026
<br />23 23,947 24,905 25,902 26,938 28,015 29,136 30,301
<br />MAJOR MAINT ,
<br />23
<br />026
<br />947
<br />23
<br />24,905
<br />25,902
<br />26
<br />28,015
<br />29,136
<br />30,301
<br />TOTAL LEASING 3 CAPITAL COSTS , ,
<br /> 665
<br />1516 162
<br />520
<br />1 800
<br />1
<br />523 527,561
<br />1 1,531~514 1.535,603 1~539~ `8~4 ~'S44'2~8
<br />CASH FLOW BEFORE DEBT SERVICE , ,
<br />, ,
<br />, ,
<br />DEBTSERVICE 1,p81,636 1,058,924 1,035,026 1,009,880 983,421 955`,~82 926,288
<br />590
<br />371 895,165
<br />194
<br />621
<br />InterestPeyments q35
<br />023 457,736 481,834 506,T79 533,238 561,078 , ,
<br />Principal Paymenis ,
<br />659
<br />516
<br />1
<br />1,516,660
<br />1,518,660
<br />1,516,659
<br />1,516,659
<br />1,518,660
<br />1,516,659
<br />1516,659
<br />TOTAL DEBT SERVICE ,
<br />,
<br /> (condnued on ne~A pope)
<br />Tfine : 5:14 pm
<br />~ :~
<br />Pape :1
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