0% found this document useful (0 votes)

82 views97 pages

6 3+economy Hotel Example V3 Unlocked

The investment summary outlines a project with a projected internal rate of return (IRR) of 17.26% and a gross profit of $12,618,138. The project involves 120 units with a total construction cost of $17,900,000 and an equity requirement of $6,500,000, with a sponsor IRR of 21.62%. Key financial metrics include a debt cover of 1.61 and a hold time prior to sale of 48 months.

Uploaded by

teddy

We take content rights seriously. If you suspect this is your content, claim it here.

Available Formats

Download as XLSX, PDF, TXT or read online on Scribd

0% found this document useful (0 votes)

82 views97 pages

6 3+economy Hotel Example V3 Unlocked

Uploaded by

teddy

We take content rights seriously. If you suspect this is your content, claim it here.

Available Formats

Download as XLSX, PDF, TXT or read online on Scribd

INVESTMENT SUMMARY

Project Level IRR 17.26% SENSITIVITY Base Case

Project Level Gross Profit $ 12,618,138 2.9x Gross Multiple Construction Phase Timing 6.00 Change 9 Months
Hold Time Prior to Sale 48.00 Change 48 Months
Equity Investor IRR 16.99% Operating Expenses 20% Increase Dollars
Equity Investor Gross Profit $ 11,660,205 2.9x Gross Multiple Rents 0% Decrease Tot. Monthly
Project Costs 0% Increase 17,900,000 Thous.
Sponsor IRR 21.62% Exit Cap -- Add/Subtract by 0.00% Increase 6.00%
Sponsor Gross Profit $ 957,933 3.9x Gross Multiple Vacancy Rates 0% Increase ALL by
Other Income 0% Yes
ROC 0.01%
Debt Cover 1.61 at stabilization

Base % Pre-Leased
Gross Monthly Annual during
Project Income Total Units Revenue/Unit Rent/Unit Base Monthly Rent Base Annual Rent Annual Bumps Pre-leased construction
120 Units 120 $ 2,400 $28,800.00 $ 288,000 $ 3,456,000 3% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Empty - - $ - - $ - 0% 0% 0%
Total 120 $ 2,400.00 $28,800.00 $ 288,000 $ 3,456,000

Project Costs Amounts Timing Timing (Max 10 years - 120 months)

Land Purchase $ 1,750,000 At COE Close of Escrow 10/1/2015
Legal, Title, & Closing $ 100,000 At COE Planning 3 Months
Survey and Appraisal $ 100,000 At COE Sitework 3 Months
Other $ - At COE Construction Phase 9 Months
Other $ - At COE Stabilization 36 Months
Other $ - At COE Time to Hold Prior to Sale 48 Months
Other $ - At COE Total Project Time 99 Months
Other $ - At COE
Other $ - At COE Financing Terms
A&E $ 500,000 During Planning Target LTC 63.7%
Other Professional Services $ 900,000 During Planning Equity Required 6,500,000
Other $ - During Planning Equity Investor Contirbution 6,175,000 95%
Sitework $ - During Sitework Sponsor Equity Contribution 325,000 5%
Other $ - During Sitework
Other $ - During Sitework Equity Contribution Timing
Other $ - Commencement of Construction At COE 6,500,000
Permits and Fees $ - Commencement of Construction At Commencement of Construction -
Other $ - Commencement of Construction
Construction $ 12,000,000 During Construction Tier 1: Preferred Return 12.0%
Other $ - During Construction
Parking $ - During Construction Tier 2: Equity Investor | Sponsor Split 90.0% 10%
Developer Fees $ - During Construction Until, Investor gets 18.0%
Fixture, Equipment, Furnishings $ 2,350,000 During Construction
Contingency $ - During Construction Tier 3: Sponsor Hurdle Amount -
Other $ - During Construction Sponsor Hurdle Pref Return 0.0%
Other $ - During Construction
Other $ - During Construction Tier 4 - Final Equity Investor | Sponsor Split 65.0% 35%
Other $ - During Construction
1 2
10/1/2015 11/1/2015

Planning 3 1 1
Sitework 3 - -
Construction 6 - -
Shop SpaceLeaseup 36 - -

Holding after Leasing is Complete 48 - -

Throughout 1 1
Collecting Rent - -
Total Project Length 96 1 1 1

120 Units space percentage Leased - 0% 0% 0% 0%

120 Units Collecting Rent on 36 120 - -
All or nothing rent bump start - - -
Rental Rate Multiplier 0 3% 1.00 1.00
for Multiplier 0% 0% 0%
Gross Rental Income 2,400.00 - -
Operating Expenses 48% - -
Vacancy 20% - -
Net Rental Income - -

Empty space percentage Leased - 0% 0% 0% 0%

Empty Collecting Rent on 36 - - -
All or nothing rent bump start - - -
Rental Rate Multiplier 0 0% 1.00 1.00
for Multiplier 0% 0% 0%
Gross Rental Income - - -
Operating Expenses 0% - -
Vacancy 0% - -
Net Rental Income - -

Empty space percentage Leased - 0% 0% 0% 0%

Total SF rented - -
% of Total SF rented 120 0% 0%

Revenues
Other Income 0% - -
Gross Rents Collected - -
Operating Expenses - -
Less Vacancy/Costs - -
Net Rents 127 - -

Net Revenues 143 - -

1000
Construction Costs
At COE 1,950 1950 0
Planning 1,400 466.6666667 466.6666667
Sitework - 0 0
Commencement of Construction - 0 0
Upon Leasing - 0 0
Construction 14,350 0 0
Throughout 200 16.66666667 16.66666667
Total Construction Costs 17,900 2,433 483

Equity Contributions 6,500 6,500 -

Construction Paid from Equity 6,500 2,433 483
Construction Paid from Debt - -

Construction Loan Balance 12,058 - -

Interest 2,381 60 - -
Interest Paid from Rents 1,723 - -
Construction Loan Repaid from Refinance - -
Construction Loan Paid from Sale - -

Refinance Loan 15,172 1 - -

Less Cost of Loan - -
Less Construction Loan - -
Net Proceeds - -

Refinance Loan Balance - -

Interest Paid - -
Principal Paid - -
Loan Repaid from Sale - -
Refinance Trigger 89 - -

Sale Proceeds - -
Less Cost of Sale 5.0% - -
Less Construction Loan - -
Less Permanent Loan - -
Net Proceeds - -

Cash Flow from Operations 2,896 - -

Cash Flow from Capital Transactions 16,221 - -

Stabilized Month - -

Gross Cash Flow (2,433) (483)

Net Present Value 8% 16,531 18,968
3 4 5 6 7 8 9 10
12/1/2015 1/1/2016 2/1/2016 3/1/2016 4/1/2016 5/1/2016 6/1/2016 7/1/2016

1 - - - - - - -
- 1 1 1 - - - -
- - - - 1 1 1 1
- - - - - - - -

- - - - - - - -
1 1 1 1 1 1 1 1
- - - - - - - -
1 1 1 1 1 1 1 1

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
0% 0% 0% 0% 0% 0% 0% 0%

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -

0 0 0 0 0 0 0 0
466.6666667 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 2391.666667 2391.666667 2391.666667 2391.66667
16.66666667 16.66666667 16.66666667 16.66666667 16.66666667 16.66666667 16.66666667 16.6666667
483 17 17 17 2,408 2,408 2,408 2,408

- - - - - - - -
483 17 17 17 2,408 642 - -
- - - - - 1,767 2,408 2,408

- - - - - 1,767 4,184 6,613

- - - - - 9 21 33
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -

- - - - - - - -

(483) (17) (17) (17) (2,408) (2,417) (2,429) (2,441)

19,455 19,942 19,963 19,984 20,004 22,417 24,839 27,274
11 12 13 14 15 16 17 18
8/1/2016 9/1/2016 10/1/2016 11/1/2016 12/1/2016 1/1/2017 2/1/2017 3/1/2017

- - - - - - - -
- - - - - - - -
1 1 - - - - - -
- - 1 1 1 1 1 1

- - - - - - - -
1 1 - - - - - -
- 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

0% 0% 3% 6% 8% 11% 14% 17%

- - 3 7 10 13 17 20
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.01 1.01 1.01
0% 0% 0% 0% 1% 1% 2% 2%
- - 8 16 24 32 40 48
- - (3) (6) (9) (12) (15) (19)
- - (2) (3) (5) (6) (8) (10)
- - 3 7 10 13 17 20

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
0% 0% 0% 1% 3% 4% 6% 7%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - 3 7 10 13 17 20
0% 0% 3% 6% 8% 11% 14% 17%

- - - - - - - -
- - 8 16 24 32 40 48
- - (3) (6) (9) (12) (15) (19)
- - (2) (3) (5) (6) (8) (10)
- - 3 7 10 13 17 20

- - 3 7 10 13 17 20

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
2391.66667 2391.66667 0 0 0 0 0 0
16.6666667 16.6666667 0 0 0 0 0 0
2,408 2,408 - - - - - -

- - - - - - - -
- - - - - - - -
2,408 2,408 - - - - - -

9,054 11,508 11,566 11,620 11,672 11,720 11,765 11,807

45 58 58 58 58 59 59 59
- - 3 7 10 13 17 20
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -

- - - - - - - -

(2,454) (2,466) (54) (51) (48) (45) (42) (39)

29,721 32,181 34,654 34,715 34,774 34,829 34,881 34,930
19 20 21 22 23 24 25 26
4/1/2017 5/1/2017 6/1/2017 7/1/2017 8/1/2017 9/1/2017 10/1/2017 11/1/2017

- - - - - - - -
- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 1 1

- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

19% 22% 25% 28% 31% 33% 36% 39%

23 27 30 33 37 40 43 47
- - - - - - - -
1.01 1.01 1.01 1.01 1.01 1.02 1.02 1.02
3% 3% 4% 4% 5% 5% 6% 6%
57 65 73 81 89 98 106 114
(22) (25) (28) (31) (34) (37) (41) (44)
(11) (13) (15) (16) (18) (20) (21) (23)
24 27 30 34 37 41 44 47

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
8% 10% 11% 13% 14% 15% 17% 18%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

23 27 30 33 37 40 43 47
19% 22% 25% 28% 31% 33% 36% 39%

- - - - - - - -
57 65 73 81 89 98 106 114
(22) (25) (28) (31) (34) (37) (41) (44)
(11) (13) (15) (16) (18) (20) (21) (23)
24 27 30 34 37 41 44 47

24 27 30 34 37 41 44 47

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

11,846 11,882 11,914 11,944 11,970 11,992 12,012 12,028

59 59 60 60 60 60 60 60
24 27 30 34 37 41 44 47
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -

- - - - - - - -

(36) (33) (29) (26) (23) (19) (16) (13)

34,976 35,018 35,058 35,094 35,127 35,157 35,183 35,206
27 28 29 30 31 32 33 34
12/1/2017 1/1/2018 2/1/2018 3/1/2018 4/1/2018 5/1/2018 6/1/2018 7/1/2018

- - - - - - - -
- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 1 1

- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

42% 44% 47% 50% 53% 56% 58% 61%

50 53 57 60 63 67 70 73
- - - - - - - -
1.02 1.02 1.02 1.02 1.03 1.03 1.03 1.03
6% 7% 7% 8% 8% 9% 9% 10%
122 131 139 148 156 164 173 181
(47) (50) (53) (57) (60) (63) (66) (70)
(24) (26) (28) (30) (31) (33) (35) (36)
51 54 58 61 65 68 72 75

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
19% 21% 22% 24% 25% 26% 28% 29%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

50 53 57 60 63 67 70 73
42% 44% 47% 50% 53% 56% 58% 61%

- - - - - - - -
122 131 139 148 156 164 173 181
(47) (50) (53) (57) (60) (63) (66) (70)
(24) (26) (28) (30) (31) (33) (35) (36)
51 54 58 61 65 68 72 75

51 54 58 61 65 68 72 75

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

12,040 12,050 12,056 12,058 12,058 12,058 12,058 12,058

60 60 60 60 60 60 60 60
51 54 58 60 60 60 60 60
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - 1 5 8 12 15
- - - - - - - -

- - - - - - - -

(9) (6) (2) 1 5 8 12 15

35,226 35,242 35,255 35,264 35,270 35,273 35,272 35,267
35 36 37 38 39 40 41 42
8/1/2018 9/1/2018 10/1/2018 11/1/2018 12/1/2018 1/1/2019 2/1/2019 3/1/2019

- - - - - - - -
- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 1 1

- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

64% 67% 69% 72% 75% 78% 81% 83%

77 80 83 87 90 93 97 100
- - - - - - - -
1.03 1.03 1.04 1.04 1.04 1.04 1.04 1.04
10% 11% 11% 12% 12% 12% 13% 13%
190 198 207 216 224 233 242 250
(73) (76) (80) (83) (86) (89) (93) (96)
(38) (40) (41) (43) (45) (47) (48) (50)
79 83 86 90 93 97 101 104

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
31% 32% 33% 35% 36% 38% 39% 40%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

77 80 83 87 90 93 97 100
64% 67% 69% 72% 75% 78% 81% 83%

- - - - - - - -
190 198 207 216 224 233 242 250
(73) (76) (80) (83) (86) (89) (93) (96)
(38) (40) (41) (43) (45) (47) (48) (50)
79 83 86 90 93 97 101 104

79 83 86 90 93 97 101 104

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

12,058 12,058 12,058 12,058 12,058 12,058 12,058 12,058

60 60 60 60 60 60 60 60
60 60 60 60 60 60 60 60
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

19 22 26 29 33 37 40 44
- - - - - - - -

- - - - - - - -

19 22 26 29 33 37 40 44
35,259 35,247 35,232 35,213 35,190 35,164 35,135 35,101
43 44 45 46 47 48 49 50
4/1/2019 5/1/2019 6/1/2019 7/1/2019 8/1/2019 9/1/2019 10/1/2019 11/1/2019

- - - - - - - -
- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 - -

- - - - - - 1 1
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

86% 89% 92% 94% 97% 100% 100% 100%

103 107 110 113 117 120 120 120
- - - - - - - -
1.04 1.05 1.05 1.05 1.05 1.05 1.06 1.06
14% 14% 15% 15% 16% 16% 17% 17%
259 268 277 286 295 303 304 304
(100) (103) (106) (110) (113) (117) (117) (117)
(52) (54) (55) (57) (59) (61) (61) (61)
108 111 115 119 123 126 126 127

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
42% 43% 44% 46% 47% 49% 50% 51%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

103 107 110 113 117 120 120 120

86% 89% 92% 94% 97% 100% 100% 100%

- - - - - - - -
259 268 277 286 295 303 304 304
(100) (103) (106) (110) (113) (117) (117) (117)
(52) (54) (55) (57) (59) (61) (61) (61)
108 111 115 119 123 126 126 127

108 111 115 119 123 126 126 127

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

12,058 12,058 12,058 12,058 12,058 12,058 12,058 -

60 60 60 60 60 60 60 -
60 60 60 60 60 60 60 -
- - - - - - 12,058 -
- - - - - - - -

- - - - - - 15,172 -
- - - - - - (190) -
- - - - - - (12,058) -
- - - - - - 2,924 -

- - - - - - - 15,172
- - - - - - - 63
- - - - - - - 25
- - - - - - - -
- - - - - - - 89

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

48 51 55 59 62 66 66 38
- - - - - - 2,924 -

- - - - - - - 1

48 51 55 59 62 66 66 127
35,064 35,024 34,980 34,932 34,880 34,825 34,766 34,706
51 52 53 54 55 56 57 58
12/1/2019 1/1/2020 2/1/2020 3/1/2020 4/1/2020 5/1/2020 6/1/2020 7/1/2020

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

1 1 1 1 1 1 1 1
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

100% 100% 100% 100% 100% 100% 100% 100%

120 120 120 120 120 120 120 120
- - - - - - - -
1.06 1.06 1.06 1.06 1.07 1.07 1.07 1.07
18% 18% 19% 19% 19% 20% 20% 21%
305 305 306 307 307 308 308 309
(117) (117) (118) (118) (118) (118) (118) (119)
(61) (61) (61) (61) (61) (62) (62) (62)
127 127 127 128 128 128 128 128

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
53% 54% 56% 57% 58% 60% 61% 62%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

120 120 120 120 120 120 120 120

100% 100% 100% 100% 100% 100% 100% 100%

- - - - - - - -
305 305 306 307 307 308 308 309
(117) (117) (118) (118) (118) (118) (118) (119)
(61) (61) (61) (61) (61) (62) (62) (62)
127 127 127 128 128 128 128 128

127 127 127 128 128 128 128 128

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

15,146 15,121 15,095 15,069 15,044 15,017 14,991 14,965

63 63 63 63 63 63 62 62
26 26 26 26 26 26 26 26
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

38 38 39 39 39 39 39 40
- - - - - - - -

- - - - - - - -

127 127 127 128 128 128 128 128

34,587 34,467 34,346 34,226 34,105 33,984 33,863 33,741
59 60 61 62 63 64 65 66
8/1/2020 9/1/2020 10/1/2020 11/1/2020 12/1/2020 1/1/2021 2/1/2021 3/1/2021

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

1 1 1 1 1 1 1 1
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

100% 100% 100% 100% 100% 100% 100% 100%

120 120 120 120 120 120 120 120
- - - - - - - -
1.07 1.08 1.08 1.08 1.08 1.08 1.09 1.09
21% 22% 22% 23% 23% 24% 24% 25%
309 310 310 311 312 312 313 313
(119) (119) (119) (119) (120) (120) (120) (120)
(62) (62) (62) (62) (62) (62) (63) (63)
129 129 129 129 130 130 130 130

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
64% 65% 67% 68% 69% 71% 72% 74%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

120 120 120 120 120 120 120 120

100% 100% 100% 100% 100% 100% 100% 100%

- - - - - - - -
309 310 310 311 312 312 313 313
(119) (119) (119) (119) (120) (120) (120) (120)
(62) (62) (62) (62) (62) (62) (63) (63)
129 129 129 129 130 130 130 130

129 129 129 129 130 130 130 130

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

14,939 14,912 14,886 14,859 14,832 14,805 14,778 14,751

62 62 62 62 62 62 62 61
26 27 27 27 27 27 27 27
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

40 40 40 41 41 41 41 42
- - - - - - - -

- - - - - - - -

129 129 129 129 130 130 130 130

33,620 33,498 33,375 33,253 33,130 33,007 32,884 32,760
67 68 69 70 71 72 73 74
4/1/2021 5/1/2021 6/1/2021 7/1/2021 8/1/2021 9/1/2021 10/1/2021 11/1/2021

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

1 1 1 1 1 1 1 1
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

100% 100% 100% 100% 100% 100% 100% 100%

120 120 120 120 120 120 120 120
- - - - - - - -
1.09 1.09 1.09 1.10 1.10 1.10 1.14 1.14
25% 25% 26% 26% 27% 27% 28% 28%
314 314 315 316 316 317 328 328
(121) (121) (121) (121) (121) (122) (126) (126)
(63) (63) (63) (63) (63) (63) (66) (66)
131 131 131 131 132 132 136 137

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
75% 76% 78% 79% 81% 82% 83% 85%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

120 120 120 120 120 120 120 120

100% 100% 100% 100% 100% 100% 100% 100%

- - - - - - - -
314 314 315 316 316 317 328 328
(121) (121) (121) (121) (121) (122) (126) (126)
(63) (63) (63) (63) (63) (63) (66) (66)
131 131 131 131 132 132 136 137

131 131 131 131 132 132 136 137

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

14,724 14,697 14,669 14,642 14,614 14,586 14,558 14,530

61 61 61 61 61 61 61 61
27 27 28 28 28 28 28 28
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

42 42 42 43 43 43 48 48
- - - - - - - -

- - - - - - - -

131 131 131 131 132 132 136 137

32,636 32,512 32,388 32,263 32,138 32,013 31,887 31,757
75 76 77 78 79 80 81 82
12/1/2021 1/1/2022 2/1/2022 3/1/2022 4/1/2022 5/1/2022 6/1/2022 7/1/2022

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

1 1 1 1 1 1 1 1
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

100% 100% 100% 100% 100% 100% 100% 100%

120 120 120 120 120 120 120 120
- - - - - - - -
1.14 1.14 1.15 1.15 1.15 1.15 1.15 1.16
29% 29% 30% 30% 31% 31% 31% 32%
329 330 330 331 331 332 333 333
(126) (127) (127) (127) (127) (127) (128) (128)
(66) (66) (66) (66) (66) (66) (67) (67)
137 137 137 138 138 138 138 139

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
86% 87% 89% 90% 92% 93% 94% 96%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

120 120 120 120 120 120 120 120

100% 100% 100% 100% 100% 100% 100% 100%

- - - - - - - -
329 330 330 331 331 332 333 333
(126) (127) (127) (127) (127) (127) (128) (128)
(66) (66) (66) (66) (66) (66) (67) (67)
137 137 137 138 138 138 138 139

137 137 137 138 138 138 138 139

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

14,502 14,474 14,445 14,417 14,388 14,359 14,331 14,302

60 60 60 60 60 60 60 60
28 28 29 29 29 29 29 29
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

48 48 49 49 49 49 50 50
- - - - - - - -

- - - - - - - -

137 137 137 138 138 138 138 139

31,627 31,496 31,365 31,234 31,103 30,971 30,839 30,707
83 84 85 86 87 88 89 90
8/1/2022 9/1/2022 10/1/2022 11/1/2022 12/1/2022 1/1/2023 2/1/2023 3/1/2023

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

1 1 1 1 1 1 1 1
- - - - - - - -
1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1

100% 100% 100% 100% 100% 100% 100% 100%

120 120 120 120 120 120 120 120
- - - - - - - -
1.16 1.16 1.16 1.17 1.17 1.17 1.17 1.17
32% 33% 33% 34% 34% 35% 35% 36%
334 334 335 336 336 337 338 338
(128) (128) (129) (129) (129) (129) (130) (130)
(67) (67) (67) (67) (67) (67) (68) (68)
139 139 139 140 140 140 140 141

0% 0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
97% 99% 100% 100% 100% 100% 100% 100%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

120 120 120 120 120 120 120 120

100% 100% 100% 100% 100% 100% 100% 100%

- - - - - - - -
334 334 335 336 336 337 338 338
(128) (128) (129) (129) (129) (129) (130) (130)
(67) (67) (67) (67) (67) (67) (68) (68)
139 139 139 140 140 140 140 141

139 139 139 140 140 140 140 141

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

14,272 14,243 14,214 14,184 14,155 14,125 14,095 14,065

59 59 59 59 59 59 59 59
29 29 29 30 30 30 30 30
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

50 50 51 51 51 52 52 52
- - - - - - - -

- - - - - - - -

139 139 139 140 140 140 140 141

30,574 30,441 30,308 30,175 30,041 29,907 29,773 29,638
91 92 93 94 95 96 97 98
4/1/2023 5/1/2023 6/1/2023 7/1/2023 8/1/2023 9/1/2023 10/1/2023 11/1/2023

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

1 1 1 1 1 1 - -
- - - - - - - -
1 1 1 1 1 1 1 -
1 1 1 1 1 1 - -

100% 100% 100% 100% 100% 100% 100%

120 120 120 120 120 120 120 -
- - - - - - - -
1.18 1.18 1.18 1.18 1.19 1.19 1.19 1.19
36% 37% 37% 38% 38% 38% 39%
339 340 340 341 342 342 343 -
(130) (130) (131) (131) (131) (131) (132) -
(68) (68) (68) (68) (68) (68) (69) -
141 141 142 142 142 142 143 -

0% 0% 0% 0% 0% 0% 0%
- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
100% 100% 100% 100% 100% 100% 100%
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

120 120 120 120 120 120 120 -

100% 100% 100% 100% 100% 100% 100%

- - - - - - - -
339 340 340 341 342 342 343 -
(130) (130) (131) (131) (131) (131) (132) -
(68) (68) (68) (68) (68) (68) (69) -
141 141 142 142 142 142 143 -

141 141 142 142 142 142 143 -

0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

14,035 14,005 13,975 13,944 13,914 13,883 13,852 -

58 58 58 58 58 58 58 -
30 30 30 31 31 31 31 -
- - - - - - 13,821 -
- - - - - - - -

- - - - - - 28,545 -
- - - - - - (1,427) -
- - - - - - - -
- - - - - - (13,821) -
- - - - - - 13,296 -

52 53 53 53 53 54 54 -
- - - - - - 13,296 -

- - - - - - - -

141 141 142 142 142 142 28,687 -

29,503 29,368 29,232 29,097 28,960 28,824 28,687 -
99 100 101 102 103 104 105 106
12/1/2023 1/1/2024 2/1/2024 3/1/2024 4/1/2024 5/1/2024 6/1/2024 7/1/2024

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
1.19 1.19 1.19 1.19 1.19 1.19 1.19 1.19

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -

- - - - - - - -
- - - - - - - -
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00