Purpose
The purpose of this post is to outline the key functions of the Outparcel in CREModels development models. These features should be universal across all development models unless noted otherwise.
Outparcel Sales
The outparcel sales section of the model allows users to sell of portions of the property at different times throughout the hold period.
A) “Outparcel Sales” Column
This column is for name of each outparcel being sold off.
B) “Sale Month” Column
This column allows users to input the month in which each specific outparcel is sold. This column is monthly values.
C) “Proceeds” Column
This column allows users to input the total sale price of each individual outparcel being sold.
D) “Cost of Sale” Column
This column allows users to input a cost of sale percentage that will be subtracted from the sale proceeds to determine the net proceeds of each specific outparcel sale.
E) “Net Proceeds” Column
This column automatically calculates the proceeds of the sale after subtracting the cost of selling the outparcel. The cost of sale is determined by the proceeds multiplied by the cost of sale percentage. Net proceeds are proceeds less the cost of sale.
F) “Release %” Column
This column allows users to input a release percentage which determines how much of the proceeds are released to payoff the construction loan. The total release towards the construction loan can be seen in cell E67 of the Annual Cash Flows tab.
G) “Mezz Release %” Column
This column allow users to input a mezz debt release percentage which determines how much of the proceeds are released to pay off the mezz debt.
F) “$ Release” Column
This column sums the release % and the mezz release % to determine the total release in dollars.
