You have been asked to develop a pro forma statement of cash flow for the coming (base) year for Summer Place Mall. The information given to you is listed below. Property Information: SUMMER PLACE MALL Age of Improvement Rentable Area (RA) Common Area (CA) Number of Tenants. Financial Information: Average Base Rents Overage Rents (5 Tenants) 10 years 400,000 square feet 160,000 square feet 40 CAM Expenses Recoverable from Tenants Average Lease Term Vacancy $20 per square feet 50,000 square feet @ $8.00 per square feet 50,000 square feet $5.00 per square feet 3.5 years Equal to 10% of total rental revenue Operating Expenses: Maintenance/Repair Management/administration/Leasing Expenses Property Taxes Insurance Other Other Information: Recurring CAPEX/Improve Allowance Required: $ 1,200,000 $230,000 $ 1,715,000 $105,000 $ 160,000 a. From the above data, develop a pro forma statement for a base year showing net operating income (NOI) for Summer Place. Required: a. From the above data, develop a pro forma statement for a base year showing net operating income (NOI) for Summer Place. SUMMER PLACE MALL Revenue: Base rents Add: Overage rents CAM recoveries Less: Vacancy Less: Operating expenses Insurance Maintenance/Repair Management/Administration/Leasing Property taxes Total operating expenses Recurring capital expenses Net operating income 0 0 $ 0