Click on File/New Assumptions on menu bar.

Type in the specifications below, pressing enter after each completed entry, and click OK.

• Investment Name - 'Owner Representation'
• Square Feet or Units - '100'
• Fiscal Year Starts on - 'Jan 1'
• Comments - Leave Blank.

• Price of Property - '2' (always 2 for Owner rep)
Closing Costs - '0' (always 0 for Owner rep_
Date of Acquisition - '1.10'
Holding Period - '7'
Inflation Rate - '3'
Sale Price Method - Select "No Sale Price Computed" from the list (always 0 for Owner rep)
Sale Price Parameter - '0' (always 0 for Owner rep)
Selling Costs - '0' (always 0 for Owner rep)

Verifying Your Entries - Click on Basic button to bottom right, and wait a second. When the Basic Analysis screen appears, choose the Vertical view (at the bottom right of the screen). When done, click on Exit.

Owner Representation is a Before Tax analysis.Two assumptions matter here:

1. Make sure the General Vacancy Factor is '0'
2. The Present Value Discount Rate Before Tax will is the discount rate that will be used when evaluating the leases.

Assumptions for lease 1

• 10,000 SqFt
• Years 1-3 = $10.00/SqFt/Year
• Years 3-6 = $12.00/SqFt/Year
• Year 7 = $14.00/SqFt/Year
• Expense Stop = ($1.00/SqFt/Year) Flat
• Tax Stop = ($0.25/SqFt/Year) Flat
• Moving Costs = None
• Security Deposit = $10,000.00 One Time at Acquisition Date
• Security Return = ($10,000.00) One Time at End of Lease
• (Enter '99' into Revenue Start Date)

Assumptions for lease 2

• 10,000 SqFt
• Years 1-3.5 = $12.00/SqFt/Year
• Years 3.5-7 = 5% Increase
• Expense Stop = None
• Tax Stop = None
• Moving Costs = None
• Security Deposit = ($10,000.00) One Time at Acquisition Date
• Security Return = $10,000.00 One Time at End of Lease
• (Enter '99' into Revenue Start Date)

Transfer Pages Dialog - allows you to Copy and Delete Assumption Page Blocks within and between Assumption Sets. This means you never have to enter a multi-page lease or loan twice. Just copy it from the Assumption Set where you entered it to the current Assumption Set using this Transfer Pages capability. Using other capabilities here, you can replicate Page Blocks (like multi-page leases) and delete Page Blocks. If you have an Assumption Set with no pages of a particular type (for instance, no expense pages), you can copy a page of that type from another Assumption Set into the current Assumption Set. Use this capability without fear, because any changes you make can be eliminated by pressing the Cancel button or the Escape key.

Compare using Lease Analysis

• Creates summary and detail reports for leases in a Retail, Office, or Industrial analysis as well as lease abstracts for individual leases. Lease Analysis is also used to prepare Tenant Representation and Owner Representation presentations. Measures computed include Dollars, Present Value, Rentable Square Feet ($/RSF), and Usable Square Feet ($/USF).

Compare using Detail Analysis (revenue)

• Creates reports for the projection results in detail areas of: Depreciation, Capital Spending, Tax Credits, Draw and Repay, Loan Interest, Loan Principal, Debt Service, Amortized Points, Revenue, Taxable Income, Management Fee, Expense, and Taxable Expense.

Assuption Edit Screen

SubPages

• A SubPage is an assumption page where the Page Title begins with the ampersand character (&), the cash flows that are produced for that assumption page are added to the cash flows for the previous assumption page. This is very useful when planning for a single item requires more than one page.