Crosswinds Apartments

Crosswinds Apartments | OFFERING MEMORANDUM

FINANCIAL ANALYSIS

PRO FORMA RENTS

PRO FORMA RENT/SF

% / $ DIFF. BETWEEN CURRENT RENT AND PRO FORMA

2022 MAX LIHTC RENT (GROSS)

2022 MAX LIHTC RENT (NET)

DISCOUNT TO NET MAX

UNIT COUNT

AVERAGE SF

CURRENT RENT

CURRENT RENT/SF

UTILITY ALLOWANCE

TYPE

AMI

1BR

21

60%

670

$756

$1.13

$910

$1.36

20%

$154

$1,053

$143

$910

17%

60% - Voucher

1BR - Voucher

3

670

$804

$1.20

$910

$1.36

13%

$106

$1,053

$143

$910

12%

2BR

48

60%

836

$877

$1.05

$1,087

$1.30

24%

$210

$1,263

$176

$1,087

19%

60% - Voucher

2BR - Voucher

21

836

$926

$1.11

$1,087

$1.30

17%

$161

$1,263

$176

$1,087

15%

3BR

10

60% 1,070

$1,035

$0.97

$1,233

$1.15

19%

$198

$1,459

$226

$1,233

16%

60% - Voucher

3BR - Voucher

6

1,070

$995

$0.93

$1,233

$1.15

24%

$239

$1,459

$226

$1,233

19%

Totals

109

90,884

$1,153,812

$1,398,852

21%

$1,629,156 $230,304 $1,398,852

18%

Averages

834

$882

$1.06

$1,069

$1.28

$187

$1,246

$1,069

BY BEDROOM

SET ASIDE

1 Bedroom

2 Bedroom

60% AMI

3 Bedroom

60% AMI - Voucher

TYPE 1 BR 2 BR 3 BR

60% Voucher TYPE

#

%

#

%

1 Bedroom 2 Bedroom 3 Bedroom

24 69 16

22% 63% 15%

60% AMI

79 30

72% 28%

60% AMI - Voucher

Totals

109

100%

Totals

109

100%

| FINANCIAL ANALYSIS

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