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.

a. From the above data, develop a pro forma statement for a base year showing net operating income (NOI) for Summer Place.

Property Information: SUMMER PLACE MALL Age of Improvement 10 years Rentable Area (RA) 400,000 square feet Common Area (CA) 160,000 square feet Number of Tenants 40 Financial Information: Average Base Rents Overage Rents ( 5 Tenants) 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 Bqual to 108 of total rental revenue Operating Expenses: Maintenance/Repair $1,200,000 Management/administration/Leasing Expenses $230,000 Property Taxes $1,715,000 Insurance $105,000 Other 0 Other Information: Recurring CAPEX/Improve Allowance $160,000 Property Information: SUMMER PLACE MALL Age of Improvement 10 years Rentable Area (RA) 400,000 square feet Common Area (CA) 160,000 square feet Number of Tenants 40 Financial Information: Average Base Rents Overage Rents ( 5 Tenants) 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 Bqual to 108 of total rental revenue Operating Expenses: Maintenance/Repair $1,200,000 Management/administration/Leasing Expenses $230,000 Property Taxes $1,715,000 Insurance $105,000 Other 0 Other Information: Recurring CAPEX/Improve Allowance $160,000