|
b) majority vote on 3
key items; more
on 4th
item
(4 pts)
b) majority vote on 2 key items; more
on items
3-4
(3 pts)
b) majority vote on 1 key item; more
on
2-4
(2 pts)
b) more than majority vote needed on
all key
items
(1 pts)
* Unanimous, if transition to successor
GP not provided for
PROPERTY ACQUISITION
9. Leverage: _____
(consistent with the quality of the property, tenants and the objectives
of the partnership, defined as purchase price-down pmt. divided by
purchase price)
a) Less than
60%
(5 pts)
b) 60% to
70%
(4 pts)
c) 71% to
80%
(3 pts)
b) 81% to
90%
(2 pts)
b) 91% and
above
(1 pts)
10. Financing*: _____
a) Current pay loan due in 15 or more
years
(5 pts)
b) Current pay loan due in 11-15
years (4 pts)
c) Deferred pay loan due in 6-10
years (3 pts)
d) Deferred pay loan in 5-8
years
(2 pts)
e) Deferred pay loan due in less
than 5
years
(1 pts)
NOTE: Deferred pay = accrued interest
or zero coupon loan
* Notice to LP of GP's interest to
incur secured or
unsecured debt
11. Valuation Ratio: _____
(MAI appraisal divided by the partnership consideration: p/c = debt +
capital raised)
a) MAI is greater than 100% of
p/c (5 pts)
b) MAI is 96% to 100% of p/c
(4 pts)
c) MAI is 90% to 95% of p/c
(3 pts)
b) MAI is 85% to 89% of p/c (2 pts)
b) MAI is less than 85% of p/c
(1 pts)
PROPERTY PERFORMANCE/COMPETITION
12. Assumptions: _____
(Forecasts/Projections)
|
a) "Big 5
Forecast: Rent/Inflation increases at or under 5%; 8.0%-8.5% loaded cap
rates on acquisition sale (5 pts.)
b) Conservative forecast 5%-7%
Rent/Inflation increases 7.5%-8.0%
ld. cap rates on acquisition and
sale
(4 pts)
c) Conservative projections 7%-8%
Rent/Inflation increases 7%-7.5%
ld. cap rates on acquisition and
sale
(3 pts)
d) Aggressive projections 8%-9%
Rent/Inflation increases 6.5%-7.0%
ld. cap rates on acquisition and
sale
(2 pts)
e) Aggressive projections 9% or more
Rent/Inflation increases 6.0%-6.5%
ld. cap rates on acquisition and
sale
(1 pts)
13. Percentage of Supply to Demand:
_____
a)
90% (5 pts)
b) 95%
(4 pts)
c) 100%
(3 pts)
d) 110%
(2 pts)
e) 120%
(1 pts)
14. Partnership Consideration per sq.
ft. _____
vs. Competition: (Loaded vs Unloaded)
a)
105%
(5 pts)
b)
110%
(4 pts)
c) 115%
(
(3 pts)
d)
120%
(2 pts)
e)
125%
(1 pts)
15. Risk Factors (% of normal risk)
_____
a)
80% (5 pts)
b)
90% (4 pts)
c)
100%
(3 pts)
d) 110%
(2 pts)
e)
120%
(1 pts)
TOTAL POINTS ____
NOTE: A minimum of 55 points is
required for consideration. Most approved programs fail between 58 and 64
points. However, a score of "1" in any one category may cause
the offering to be rejected.
ScoreCards
Reproduction, photocopying or
incorporation into any information retrieval system / or external or
internal use is prohibited unless permission is obtained from the publisher.
|