Moving to another question will save this response. Question 31 of 34 10 points Save Answer You are contemplating developing a 200 unit apartment complex (average unit size 900 sq. ft.) and want to do a quick feasibilley. You expect market rents to be about $2.25 p.s.f. (monthly). Assuming a 5% (of PGI) vacancy factor and 35% (of EGI) operating costs, what would be your expected Not for this project (rounded)? $3,301.000 53,001,000 b. $1,972.000 C. $2,912,000 d Moving to another question will save this response. Question 3 of 34 10 points Save Answer Land development loans are somewhat different than development loans for vertical developments such as office buildings. All of the following are true, but which statement highlights a key difference that is applicable only to land development loans? Ch17 Land development loans are funded over time via "draws Land development loans are usually floating rate interest loans Land development loans require a market analysis as part of underwriting process Land development loans often experience partial prepayments before they are fully drawn a. b OI Development is a risky business Auti