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 1 to you is listed below 2 Inputs: 3 Property Information: 4 SUMMER PLACE MALL 5 Age of Improvement (in years) 6 Rentable Area (RA) (sq. ft.) 7 Common Area (CA) (sq. ft.) 8 Number of Tenants 9 Operating Expenses (annual): 10 Maintenance/Repair 11Mgmt/admin./Leasing Expenses 12 Property Taxes 13 Insurance 14 Other 15 a. From the above data, develop a pro forma statement for a base year showing net operating income (NOI) for Summer Place. 16 b. If you plan to begin work on future pro formas for Summer Place, list at least five major factors that you would consider 17 Outputs: 18 a. 19 Proforma Income Statement 20 Revenues 21 Baserent 22 Overage rent 23 +CAM recoveries 24-Vacancy losses 25 -Effective gross income (revenue) 26-Maintenance/repair expense 27-Mgmt/admin./leasing expense 28 Property taxes 29-Insurance expense 30Other expense 31 Operating income before capital expense 32Recurring capital expense 33 Net operating income (NOI) 34 b Financial Information: Avg. Base Rents (per sq. ft.) 10 Overage Rents (5 Tenants) (sq. ft.) 400,000Overage Rents (5 Tenants) (per sq. ft.) 20.00 50,000 $8.00 $5.00 3.5 10.00% 160,000CAM Expenses Recoverable from Tenants (per 40 Average Lease Term Vacancy (in years) Vacancy (% of total base rental revenue) $1,200,000.00 Other Information: $230,000.00 Recurring CAPEX/Improve Allowance 160,000.00 $1,715,000.00 $105,000.00 0.00 Period 1 Input your five reasons below 35 2 36 37 4 38 5 39 40