RETAIL UNDERWRITING TEMPLATE
SUMMARY PAGE
PROJECT NAME	Sample Plaza Shopping Ctr
BORROWING ENTITY:	Alpha Partners LLC
PROJECT STREET ADDRESS:	12300 Main Street
CITY	Sampletown
STATE:	Colorado
ZIP:	00001
UNDERWRITTEN BY:	Jack Truhart, Chief Underwriter
RENTABLE AREA (per Rent Roll):	83,400	sf
LAND AREA	7.8	acres
LOT COVERAGE	24.5%
PARKING	400	spaces
PARKING RATIO:	4.8	per 1,000 sf
UNDERWRITING RESULTS (from Cash Flow worksheet):
LOAN AMOUNT:	$                                         9,250,000
LOAN / SF	$                                                110.91
TERM	10.0	YEARS
AMORT. PERIOD	30.0	YEARS
SPREAD	2.20%
INTEREST RATE	8.30%
COVERAGE RATIO	1.33
APPRAISED VALUE	$                                          12,000,000
(from Appraisal Review)
APPRAISED VALUE / SF	$                                                143.88
LOAN-TO-VALUE	77.1%