Open Items — Development
3
open
2
answered
1
deferred · not now
A question here waits on a person, not a document. For values
read out of files see
Projection Review.
open
Morgan
Dependent dates
Pinecrest Senior Living
waiting 41 days
The completion date slipped to May 2027. Does the exit in 2031 move with it, or was 2031 fixed by the sponsor's fund life?
Cost of leaving it open ·
Until this is answered the Lifecycle tab shows the exit as unchanged beside a completion that moved, and the two cannot both be right.
open
Morgan
How we treat it
Birch Lane Townhomes
waiting 22 days
If the hard-cost overrun passes the sponsor's 5% share, do we fund our pro-rata share from the Harbor LP reserve or call it from the partners?
Cost of leaving it open ·
The report shows the overrun as unfunded until someone decides; a capital call that is not in the 13-week forecast would land on a week already carrying two.
open
Morgan
A figure that needs a decision
Pinecrest Senior Living
waiting 8 days
The projection assumes 70% occupancy at month 12 of lease-up; the sponsor's own underwriting said 60%. Which assumption stands?
Cost of leaving it open ·
The expected first distribution moves by two quarters between the two figures.
deferred
Casey
How we treat it
Sep 24, 2026
When the sponsor's letter and the lender's draw schedule disagree on a milestone date, which one does the report print?
Cost of leaving it open ·
The report prints whichever was read last; the slip measured against it can flip sign between two updates.
Deferred until the next sponsor call; the lender's schedule is the stricter of the two and the report will say which it used.
— Morgan Hale
answered
Casey
What the report should cover
Aug 26, 2026
Should land held for a future phase appear on the development report at all, or only once a project has a budget?
Cost of leaving it open ·
Two parcels carry a cost and no plan; shown, they read as stalled projects; hidden, the land is in no report.
Show them in their own block, labelled held for a future phase, with the cost and the acquisition date and nothing else.
— Morgan Hale
answered
Jordan
A figure that needs a decision
Birch Lane Townhomes
Aug 10, 2026
The sponsor's update says 48 units; the underwriting says 44. Which is the project of record?
Cost of leaving it open ·
Expected profit per unit on the development report is computed from the stored count, so the figure changes by 9% depending on the answer.
48 — the sponsor added four units when the site plan was re-approved; the underwriting predates the re-approval.
— Toviya Slager
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