Virtual Deal Simulator
The Capstone: Ridgemont Trails, Start to Finish
Source, underwrite, structure, negotiate, and package one value-add multifamily deal end to end.
You’ll Practice
- Qualify a sponsor's experience, equity sourcing, and business plan before underwriting a single number
- Recognize when a seller's reported expenses understate the true cost of ownership, and normalize NOI accordingly
- Size a bridge loan against a loan-to-cost constraint and verify a competing lender's quote actually works at the requested amount
- Compare lender quotes on total cost and execution risk, not just headline rate
- Negotiate a specific, realistic term (a recourse burn-down trigger) instead of either accepting a term sheet as-is or making an unrealistic ask
- Assemble a loan submission package with only the documents that actually belong in it
- Underwrite a stabilized exit value from a renovation business plan
expertMultifamily (96 units, value-add)Bridge acquisition + renovation, structured for a future stabilized refinanceStage 1 of 10 · 0 scored so far
The Assignment
Whitfield Value-Add Partners, LLC has a signed contract to acquire Ridgemont Trails Apartments for $8,200,000 and has come to you to place the debt. The plan: renovate all 96 units over roughly 18 months, push rents to market, and refinance or sell once stabilized. Your job spans the whole deal -- qualify the sponsor, review their numbers, size and place the loan, negotiate terms, and package the file for closing.
- Property
- Ridgemont Trails Apartments -- 96 units, built 1998
- Purchase Price
- $8,200,000
- Renovation Budget
- $960,000 ($10,000/unit)
- Current Avg. Rent
- $1,050/unit/month
- Business Plan
- Full interior renovation, reposition to market rent, refinance or sell at stabilization