Does anyone have a debt fund case study they’re willing to share? I’m really just trying to see the nuances between a debt case and an equity case in terms of the key asks they want to see. Looking to make the switch from debt to equity this year. Thanks!!!
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Why are you looking to make the switch, isn't the debt side where the activity is? Looking to get into debt so that's why I asked.
A case I did for a debt fund gave me costs spent to date and had to model out a proforma for remaining costs (say $20mm out of $160mm total in the loan, $140mm spent). I then looked at DY, DSCR, IRR, YOC, EM and was provided a list of questions. In there I said whether I thought the current deal made sense and what issues they would face. They provided about 10 questions regarding risks, proforma, and outputs.
Appreciate the response dude! Super insightful. I meant to say looking to switch from equity to debt*. In the costs spent that they gave you, did they provide anything else? How do you build out a pro forma just off of how much was spent on building a project? Also, what types of questions did they ask?
A rent roll, projected rent from a brokerage which you were expected to use, I used publicly available sources for taxes but overall just building out a proforma and answering questions (risks and mitigants, do you think this is a good deal yes or no and why, what are some other questions you would want to ask that aren't answered and what are some assumptions you made (ie it's a refi, so assumed spread for YoC wouldn't really be something to look at))
Any chance you have this and are able to share?
"We'd like for you to put together an acquisition model and investment memo for the attached property assuming a 5 year hold. Below are some takeaways that we'd be looking for"
DM for the memo, this is a case study for an associate position at Urban Standard.
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