Report Card

WILLOW CREEK SHOPS

Real Estate · Retail · Active · #1007

← All deals RE Financials Deal page

Grade

Weighted score

2.29

1 best · 5 worst

Coverage

65%

floor 50%

Top driver

Returns & Cash Flow

Weighted score — Backup Calculation

Performance — 25% of the grade, computed from 57% of its rubric	2.89
Returns & Cash Flow — 25% of the grade, computed from 100% of its rubric	3.31
Debt — 20% of the grade, computed from 65% of its rubric	1.00
Manager — 15% of the grade, computed from 88% of its rubric	1.32
= Weighted score	2.29

Formula: ( Performance x 25% + Returns & Cash Flow x 25% + Debt x 20% + Manager x 15% ) / 85%

Branch taken: Divided by 85%, not 100%, because 4 of the 5 components scored.

1 is best, 5 is worst — the OPPOSITE polarity to the Deal Parameters scores, which run 1 low to 5 high. A component with no scoreable KPI drops out of both the numerator and the denominator rather than scoring 5, so a deal is never punished for data we have not loaded.

Source: services/report_card.py → score_deal()

Coverage — Backup Calculation

Performance — 25% of the grade	57%
Returns & Cash Flow — 25% of the grade	100%
Debt — 20% of the grade	65%
Value — 15% of the grade	0%
Manager — 15% of the grade	88%
= Coverage	65%

Formula: Performance x 25% + Returns & Cash Flow x 25% + Debt x 20% + Value x 15% + Manager x 15%

Branch taken: At or above the 50% floor, so a grade is issued.

The share of the rubric's weight that actually had a number behind it. It is NOT a data-quality score and not a confidence interval: a grade at 40%% coverage and one at 90%% are different claims about the same deal.

Source: services/report_card.py → score_deal()

Top driver — Backup Calculation

= Top driver

None

Formula: the component with the largest ( score - 1 ) x weight

What is dragging the grade down hardest, weight included — not simply the worst-scoring component. A 5 at 15%% weight pulls less than a 4 at 25%%. ⚠️ The MINUS ONE is the whole point: scores run 1-5 with 1 best, so score x weight equals (score - 1) x weight plus weight — and that trailing term is a constant every component carries whether or not it is doing any damage, larger for the heavier ones. Ranking on it partly ranks by weight alone, which named Performance on a deal whose Value scored 4.65. What is left is the exact share of the distance from a perfect 1 that this component owns. Blank means nothing is dragging: every component scored 1.

Source: services/report_card.py → score_deal()

THE SCORES

Component	Score	Prior	Why
Returns & Cash Flow 25%	3.31	—	Current cash yield: 6.0%
Value 15%	—	—	Awaiting Total value multiple, Appreciation vs all-in basis, Value trend.
Performance 25%	2.89	—	Physical occupancy: 94.2% · still awaiting Leasing flow, New rent vs market
Debt 20%	1.00	—	DSCR: 4.48 · still awaiting LTV, Covenant headroom
Manager 15%	1.32	—	Transparency & track record: 2 · still awaiting Financial accuracy

Lower is better: 1 is the best score, 5 the worst, so a FALL in the number is an improvement. Scores are shaded green (1) through red (5), the same scale as the Rollup grid. Prior is the last recorded score that was different — it fills in once a grade moves.

Performance — Backup Calculation

P-2 Economic occupancy — weight 7.2% within the component	2
P-4 NOI vs budget — weight 6.6% within the component	1
P-1 Physical occupancy — weight 6.0% within the component	3
P-3 Collections — weight 5.4% within the component	3
P-6 NOI trend (year over year) — weight 4.2% within the component	3
P-23 NOI margin — weight 3.6% within the component	4
P-25 Expense variance to budget — weight 3.0% within the component	5
P-26 Revenue variance to budget — weight 3.0% within the component	1
= Performance	2.89

Formula: ( P-2 Economic occupancy x w + P-4 NOI vs budget x w + P-1 Physical occupancy x w + P-3 Collections x w + P-6 NOI trend (year over year) x w + P-23 NOI margin x w + P-25 Expense variance to budget x w + P-26 Revenue variance to budget x w + 9 more ) / 0.567

Branch taken: Coverage 57% — 0.566 of 1.000 rubric weight had a number behind it.

Each KPI is banded 1-5 against its own four cut-points, then blended by weight. Only the 17 KPI(s) with a value take part; the rest renormalise away.

Source: services/report_card.py → score_deal()

Returns & Cash Flow — Backup Calculation

CF-1 Current cash yield — weight 34.0% within the component	4
CF-2 Lifetime annualized operating return — weight 15.0% within the component	4
CF-3 Distribution recency — weight 12.0% within the component	2
CF-4 Actual vs underwritten cash yield — weight 12.0% within the component	4
CF-5 Distribution coverage — weight 10.0% within the component	1
CF-6 Unpaid preferred return — weight 9.0% within the component	5
CF-7 Months of cash — weight 8.0% within the component	1
= Returns & Cash Flow	3.31

Formula: ( CF-1 Current cash yield x w + CF-2 Lifetime annualized operating return x w + CF-3 Distribution recency x w + CF-4 Actual vs underwritten cash yield x w + CF-5 Distribution coverage x w + CF-6 Unpaid preferred return x w + CF-7 Months of cash x w ) / 1.000

Branch taken: Coverage 100% — 1.000 of 1.000 rubric weight had a number behind it.

Each KPI is banded 1-5 against its own four cut-points, then blended by weight. Only the 7 KPI(s) with a value take part; the rest renormalise away.

Source: services/report_card.py → score_deal()

Debt — Backup Calculation

D-1 DSCR — weight 25.0% within the component	1
D-6 Debt yield — weight 18.8% within the component	1
D-3 Months to maturity — weight 15.0% within the component	1
D-4 Rate structure — weight 6.2% within the component	1
= Debt	1.00

Formula: ( D-1 DSCR x w + D-6 Debt yield x w + D-3 Months to maturity x w + D-4 Rate structure x w ) / 0.650

Branch taken: Coverage 65% — 0.650 of 1.000 rubric weight had a number behind it.

Each KPI is banded 1-5 against its own four cut-points, then blended by weight. Only the 4 KPI(s) with a value take part; the rest renormalise away.

Source: services/report_card.py → score_deal()

Manager — Backup Calculation

M-1 Reporting timeliness — weight 20.0% within the component	1
M-2 Reporting completeness — weight 20.0% within the component	1
M-5 Transparency & track record — weight 16.0% within the component	2
M-4 Responsiveness — weight 12.0% within the component	1
M-6 Unit turn time — weight 12.0% within the component	2
M-7 Preventive maintenance completion — weight 8.0% within the component	1
= Manager	1.32

Formula: ( M-1 Reporting timeliness x w + M-2 Reporting completeness x w + M-5 Transparency & track record x w + M-4 Responsiveness x w + M-6 Unit turn time x w + M-7 Preventive maintenance completion x w ) / 0.880

Branch taken: Coverage 88% — 0.880 of 1.000 rubric weight had a number behind it.

Each KPI is banded 1-5 against its own four cut-points, then blended by weight. Only the 6 KPI(s) with a value take part; the rest renormalise away.

Source: services/report_card.py → score_deal()

WHAT WE LAST RECEIVED

Last data received	—	Newest operating period in the model, anchored on Total Income so a static attribute row cannot pass as a filing.
What it was	—	The statement TYPE. The operating store records the period and the source feed, not the document type, so this stays blank rather than guessing.
Last reviewed	—	Nobody has recorded a view on this deal yet — saving anything under YOUR VIEW below stamps it.

QUESTIONS FOR THE MANAGER 0 raised by this deal's numbers

#	Raised because	Question	Your answer
Nothing in this deal's numbers raises a question right now.

Each question is triggered by a rule over this deal's own figures — distribution recency, capital position, operating yield, loan maturity, leverage, occupancy, collections, missing underwriting, coverage. A rule that cannot see its input stays silent rather than asking about a figure nobody has. Answers are keyed to the RULE, so one stays attached to what it answered even as the list re-orders.

PERFORMANCE, BY DEPARTMENT

Occupancy & Leasing

2.9 56%

25 KPIs →

Collections & Delinquency

Building & Maintenance

Each department score is its own KPIs blended over the weight that ANSWERED — sum(band × weight) ÷ sum(weight of the KPIs that produced a value). So a missing reading lowers the percentage beside the score, never the score itself. Click a department to land on the KPIs behind it; click any KPI row to open its inputs.

PERFORMANCE

RE Financials →

Code

KPI

Value

Band

Weight

Cut-points

Controlled by

Occupancy & Leasing 2.95 56% answered · 7 of 25 KPIs scored

P-1

ⓘ

occupancy

0.9425

App · RE Financials (Occupancy - Units)

Open RE Financials →

94.2%

6.0%

higher is better · 0.986333 / 0.956333 / 0.916333 / 0.886333

Manager RE Financials →

P-2

ⓘ

total rental income	865,110
Market Rent / GPR (T-12)	917,994

App · RE Financials (GPR less vacancy / LTL / concessions / bad debt)

Open RE Financials →

94.2%

7.2%

higher is better · 0.977233 / 0.937233 / 0.897233 / 0.847233

Manager RE Financials →

P-7

Leasing flow ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

6.0%

higher is better · 1.044667 / 1.027167 / 0.927167 / 0.777167

Manager

P-8

New rent vs market ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

6.0%

higher is better · 1.0196 / 1.0136 / 0.9736 / 0.9236

Manager

P-9

Renewal rate ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

3.0%

higher is better · 0.709 / 0.609 / 0.509 / 0.409

Manager

P-27

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

marketing expense (T-12)	8,997
units	0.0000

App - RE Financials (TOTAL MARKETING)

Open RE Financials →

—

1.2%

lower is better · 114.0 / 163.0 / 182.0 / 232.0

Manager RE Financials →

P-28

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

total other income	34,604
units	0.0000
other income per unit (T-12), = total / units	—
months in the window	12

App - RE Financials (TOTAL OTHER INCOME Per Unit)

Open RE Financials →

—

1.2%

higher is better · 148.0 / 75.0 / 67.0 / 43.0

Manager RE Financials →

P-29

ⓘ

Concessions (T-12)	-3,672
Market Rent / GPR (T-12)	917,994

App - RE Financials (Concessions / Market Rent GPR)

Open RE Financials →

0.4%

1.8%

lower is better · 0.0 / 0.0019 / 0.0037 / 0.0098

Manager RE Financials →

P-30

ⓘ

Loss to Lease (T-12)	6,426
Concessions (T-12)	-3,672
Market Rent / GPR (T-12)	917,994

App - RE Financials (Loss to Lease + Concessions / GPR)

Open RE Financials →

1.1%

1.8%

lower is better · 0.0194 / 0.0255 / 0.0391 / 0.0741

Manager RE Financials →

P-31

ⓘ

TOTAL RENTAL INCOME Per SQ FT (T-12)

0.0000

App - RE Financials (TOTAL RENTAL INCOME Per SQ FT)

Open RE Financials →

1.8%

higher is better · 2.23 / 1.96 / 1.66 / 1.52

Manager RE Financials →

P-32

ⓘ

Market Rent / GPR Per SQ FT (T-12)

0.0000

App - RE Financials (Market Rent / GPR Per SQ FT)

Open RE Financials →

0.6%

higher is better · 2.69 / 2.06 / 1.86 / 1.78

Market RE Financials →

P-33

ⓘ

TOTAL RENTAL INCOME (prior 12m)	840,905
total rental income	865,110

App - RE Financials (T-12 vs prior T-12)

Open RE Financials →

2.9%

3.0%

higher is better · 0.074 / 0.056 / 0.043 / -0.011

Manager RE Financials →

P-36

Rent against market ⓘ awaiting feed

—

higher is better · 0.95 / 0.84 / 0.76 / 0.69

Manager RE Financials →

P-42

Vacancy by unit type ⓘ awaiting feed

rent roll with bed_count. The column exists and is empty.

—

lower is better · 0.04 / 0.07 / 0.1 / 0.15

Manager

P-43

At risk of move-out ⓘ awaiting feed

rent roll with notice status.

—

lower is better · 0.03 / 0.06 / 0.1 / 0.15

Manager

P-48

Concession position against market ⓘ awaiting feed

concession comparables. zori gives market RENT but not concessions.

—

lower is better · 0.8 / 1.0 / 1.25 / 1.6

Manager

P-53

Applications, last 30 days ⓘ awaiting feed

leasing system.

—

higher is better · 25.0 / 16.0 / 10.0 / 5.0

Manager

P-54

Showings, last 30 days ⓘ awaiting feed

leasing system.

—

higher is better · 60.0 / 40.0 / 25.0 / 12.0

Manager

P-55

New leases, last 30 days ⓘ awaiting feed

leasing system.

—

higher is better · 12.0 / 8.0 / 5.0 / 2.0

Manager

P-56

Move-outs, last 30 days ⓘ awaiting feed

leasing system.

—

lower is better · 4.0 / 7.0 / 11.0 / 16.0

Manager

P-59

Renewal rate ⓘ awaiting feed

rent roll with lease dates across periods. Present for two properties, neither of them in this book.

—

higher is better · 0.6 / 0.5 / 0.4 / 0.3

Manager

P-60

Turnover rate, annualized ⓘ awaiting feed

move-out dates.

—

lower is better · 0.35 / 0.45 / 0.55 / 0.7

Manager

P-61

Renewal acceptance rate ⓘ awaiting feed

leasing system.

—

higher is better · 0.7 / 0.55 / 0.4 / 0.25

Manager

P-64

Months since last rent increase ⓘ awaiting feed

rent roll with last_increase_date. The column exists and is empty.

—

lower is better · 12.0 / 18.0 / 24.0 / 36.0

Manager

P-65

Cost per lead ⓘ awaiting feed

leasing system lead counts.

—

lower is better · 40.0 / 70.0 / 110.0 / 175.0

Manager

Collections & Delinquency 2.69 100% answered · 2 of 8 KPIs scored

P-3

ⓘ

collections

0.9725

App · RE Financials (Collections)

Open RE Financials →

97.2%

5.4%

higher is better · 0.99 / 0.989067 / 0.959067 / 0.929067

Manager RE Financials →

P-14

ⓘ

Bad Debt (T-12)	-2,754
Market Rent / GPR (T-12)	917,994

App · RE Financials (Bad Debt / GPR)

Open RE Financials →

0.3%

2.4%

lower is better · 0.0 / 0.005467 / 0.020467 / 0.035467

Manager RE Financials →

P-49

Delinquency aged 31-60 days ⓘ awaiting feed

AR ageing by tenant. The financials carry bad debt, not the buckets.

—

lower is better · 0.01 / 0.02 / 0.035 / 0.06

Manager

P-50

Delinquency aged 61-90+ days ⓘ awaiting feed

AR ageing by tenant.

—

lower is better · 0.005 / 0.012 / 0.025 / 0.045

Manager

P-51

Delinquency rate ⓘ awaiting feed

AR ledger.

—

lower is better · 0.05 / 0.09 / 0.14 / 0.2

Manager

P-52

Payment plan success ⓘ awaiting feed

property manager's collections log.

—

higher is better · 0.75 / 0.6 / 0.45 / 0.3

Manager

P-62

Eviction timeline ⓘ awaiting feed

counsel and the property manager.

—

lower is better · 45.0 / 75.0 / 120.0 / 180.0

Manager

P-63

Eviction rate ⓘ awaiting feed

eviction filings by property.

—

lower is better · 2.0 / 4.0 / 7.0 / 12.0

Manager

Financial Control 2.53 69% answered · 5 of 8 KPIs scored

P-4

ⓘ

noi	458,854
budget noi	358,920

App · RE Financials (Actual vs Budget)

Open RE Financials →

127.8%

6.6%

higher is better · 1.032667 / 1.022667 / 0.972667 / 0.872667

Manager RE Financials →

P-5

NOI vs underwriting ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

4.2%

higher is better · 1.044667 / 1.027167 / 0.927167 / 0.777167

Manager RE Financials →

P-6

ⓘ

NOI (prior 12m)	446,016
noi	458,854

App · RE Financials (T-12 vs prior T-12)

Open RE Financials →

2.9%

4.2%

higher is better · 0.1045 / 0.0545 / 0.0045 / -0.0455

Manager RE Financials →

P-22

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

total operating expenses	440,860
units	0.0000

App - RE Financials (TOTAL OPERATING EXPENSES Per Unit)

Open RE Financials →

—

3.0%

lower is better · 7229.0 / 9035.0 / 10831.0 / 13581.0

Manager RE Financials →

P-23

ⓘ

noi margin

0.5100

App - RE Financials (NOI / TOTAL INCOME)

Open RE Financials →

51.0%

3.6%

higher is better · 0.608 / 0.558 / 0.522 / 0.446

Manager RE Financials →

P-24

Effective gross income per unit ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

1.8%

higher is better · 2156.0 / 1832.0 / 1526.0 / 1396.0

Manager RE Financials →

P-25

ⓘ

total operating expenses	440,860
budget total operating expenses	336,260

App - RE Financials (Actual vs Budget)

Open RE Financials →

1.31x

3.0%

lower is better · 0.98 / 1.03 / 1.1 / 1.2

Manager RE Financials →

P-26

ⓘ

total income	899,714
budget total income	695,180

App - RE Financials (Actual vs Budget)

Open RE Financials →

1.29x

3.0%

higher is better · 1.02 / 0.99 / 0.95 / 0.9

Manager RE Financials →

Building & Maintenance 2.00 25% answered · 1 of 14 KPIs scored

P-10

R&M and turnover per unit ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

3.0%

lower is better · 0.682 / 0.832 / 1.032 / 1.282

Manager RE Financials →

P-11

Contract services per unit ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

2.4%

lower is better · 0.682 / 0.832 / 1.032 / 1.282

Manager RE Financials →

P-35

ⓘ

total capex	17,994
budget total capex	14,840

App - RE Financials (TOTAL CAPEX, Actual vs Budget)

Open RE Financials →

1.21x

1.8%

lower is better · 1.05 / 1.25 / 1.6 / 2.2

Manager RE Financials →

P-37

Renovation schedule variance ⓘ awaiting feed

capital plan with dates. property_capex holds budget dollars by category, no schedule.

—

lower is better · 0.0 / 15.0 / 30.0 / 60.0

Manager

P-38

Renovation payback ⓘ awaiting feed

renovation cost and achieved premium, per unit.

—

lower is better · 24.0 / 36.0 / 48.0 / 60.0

Manager

P-39

Renovation premium ⓘ awaiting feed

rent roll carrying renovation status per unit.

—

higher is better · 250.0 / 175.0 / 125.0 / 75.0

Manager

P-40

Renovation throughput ⓘ awaiting feed

renovation completions by month.

—

higher is better · 1.1 / 1.0 / 0.85 / 0.65

Manager

P-44

Units turned, last 30 days ⓘ awaiting feed

make-ready log.

—

higher is better · 12.0 / 8.0 / 5.0 / 2.0

Manager

P-45

Units waiting to turn ⓘ awaiting feed

make-ready log.

—

lower is better · 3.0 / 6.0 / 10.0 / 18.0

Manager

P-46

Days vacant ⓘ awaiting feed

rent roll with move_out dates. The column exists and is empty.

—

lower is better · 21.0 / 30.0 / 45.0 / 60.0

Manager

P-47

Make-ready time ⓘ awaiting feed

make-ready log.

—

lower is better · 7.0 / 12.0 / 18.0 / 28.0

Manager

P-57

Work orders completed against open ⓘ awaiting feed

maintenance system.

—

higher is better · 4.0 / 2.5 / 1.5 / 0.9

Manager

P-58

Average work order completion ⓘ awaiting feed

maintenance system.

—

lower is better · 2.0 / 4.0 / 7.0 / 14.0

Manager

P-67

ⓘ awaiting feed

turnover expense (T-12)	15,835
units	0.0000

App - RE Financials (TOTAL TURNOVER)

Open RE Financials →

—

lower is better · 0.9 / 1.05 / 1.25 / 1.5

Manager RE Financials →

Admin — 0% answered · 0 of 1 KPIs scored

P-12

G&A per unit ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

1.8%

lower is better · 0.682 / 0.832 / 1.032 / 1.282

Manager RE Financials →

Insurance — 0% answered · 0 of 1 KPIs scored

P-13

Insurance per unit ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

1.8%

lower is better · 0.682 / 0.832 / 1.032 / 1.282

Market RE Financials →

Utilities 5.00 36% answered · 1 of 5 KPIs scored

P-15

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

utilities expense (T-12)	62,980
units	0.0000

App - RE Financials (TOTAL UTILITIES Per Unit)

Open RE Financials →

—

2.4%

lower is better · 731.0 / 1060.0 / 1787.0 / 2046.0

Manager RE Financials →

P-16

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

Utilities - Water & Sewer (T-12)	19,524
units	0.0000

App - RE Financials (Utilities - Water & Sewer)

Open RE Financials →

—

0.9%

lower is better · 435.0 / 699.0 / 838.0 / 1312.0

Manager RE Financials →

P-17

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

Utilities - Electricity (T-12)	0.0000
units	0.0000

App - RE Financials (Utilities - Electricity)

Open RE Financials →

—

0.9%

lower is better · 148.0 / 189.0 / 240.0 / 300.0

Manager RE Financials →

P-18

ⓘ

utilities expense (T-12)	62,980
Rebill / Reimb - General / Other Utilities (T-12)	0.0000
Rebill / Reimb - Water & Sewer (T-12)	0.0000
Rebill / Reimb - Electric (T-12)	0.0000
Rebill / Reimb - Trash (T-12)	0.0000
Rebill / Reimb - General (T-12)	0.0000
Rebill / Reimb - Oil & Gas (T-12)	0.0000
Rebill / Reimb - Extermination / Pest Control (T-12)	0.0000
RUBS - General (T-12)	0.0000
RUBS - Water & Sewer (T-12)	0.0000

App - RE Financials (all Rebill / Reimb and RUBS lines)

Open RE Financials →

0.0%

2.4%

higher is better · 0.855 / 0.49 / 0.164 / 0.031

Manager RE Financials →

P-41

Electricity consumption per occupied unit ⓘ awaiting feed

utility meter data, or a bill that states kWh.

—

lower is better · 350.0 / 450.0 / 600.0 / 800.0

Manager

Taxes — 0% answered · 0 of 1 KPIs scored

P-19

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

real estate taxes expense (T-12)	89,971
units	0.0000

App - RE Financials (TOTAL REAL ESTATE TAXES Per Unit)

Open RE Financials →

—

1.8%

lower is better · 973.0 / 1588.0 / 2041.0 / 2753.0

Market RE Financials →

Payroll 5.00 50% answered · 1 of 2 KPIs scored

P-20

ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

payroll expense (T-12)	98,969
units	0.0000

App - RE Financials (TOTAL PAYROLL Per Unit)

Open RE Financials →

—

1.8%

lower is better · 1269.0 / 1507.0 / 1696.0 / 2003.0

Manager RE Financials →

P-21

ⓘ

payroll expense (T-12)	98,969
total income	899,714

App - RE Financials (Payroll as % of Income)

Open RE Financials →

11.0%

1.8%

lower is better · 0.063 / 0.077 / 0.084 / 0.097

Manager RE Financials →

RETURNS & CASH FLOW

Distributions →

Code

KPI

Value

Band

Weight

Cut-points

Controlled by

CF-1

ⓘ

operating distributions, T-12	53,910
invested capital	900,000
last operating distribution	2026-07-14

App · Distributions engine (ex-Synd)

Open Distributions →

6.0%

34.0%

higher is better · 0.105433 / 0.085433 / 0.065433 / 0.035433

Sponsor (us) Distributions →

CF-2

ⓘ

operating distributions, life to date	138,143
invested capital	900,000
first funded	2024-02-01
years held (floored at 0.5)	2.69

App · Distributions engine

Open Distributions →

5.7%

15.0%

higher is better · 0.1227 / 0.0927 / 0.0677 / 0.0327

Sponsor (us) Distributions →

CF-3

ⓘ

last operating distribution	2026-07-14
as of	2026-10-09

App · Distributions engine

Open Distributions →

2.90

12.0%

lower is better · 1.0 / 3.0 / 6.0 / 12.0

Manager Distributions →

CF-4

ⓘ

actual cash yield, T-12 (CF-1)	0.0599
underwritten cash yield, same window	0.0737

App · deal_underwriting (scripts/import_underwriting.py)

Open Distributions →

81.3%

12.0%

higher is better · 1.056667 / 1.031667 / 0.881667 / 0.681667

Manager Distributions →

CF-5

ⓘ

cash generated by the property	338,331
our share of the asset	1
distributions paid, same window	53,910
the window both cover	2025-10 to 2026-09 (12 months filed)
months in the window	12

App · RE Financials (Net Cash Flow × ownership) ÷ distributions

Open RE Financials →

6.28

10.0%

higher is better · 1.5 / 1.2 / 1.0 / 0.8

Sponsor (us) RE Financials →

CF-6

ⓘ

preferred return rate	8
base - invested capital	900,000
one year's pref	7,200,000
years accrued	2.69
accrued to date	19,351,233
operating distributions, life to date	138,143
capital returned, life to date (negatives ignored)	0.0000
counted toward the pref	138,143
unpaid	19,213,090
basis	all returns — ASSUMED, not confirmed for this deal
LP / GP split	70% / 30%
pref / split note	8% compounding pref, return of capital, then 70/30; manager co-invests 10% pari passu
terms recorded as	confirmed

App · DIT preferred return + distributions engine (operating + capital returned)

Open Deal sheet →

2.67

9.0%

lower is better · 0.0 / 0.25 / 0.5 / 1.0

Sponsor (us) Deal sheet →

CF-7

ⓘ

unrestricted cash	506,951
monthly cash need	45,282
cash as of	2026-09
months of need the window covers	12

App - RE Financials: the property's own balance-sheet cash over its operating expenses + debt service

Open RE Financials →

11.20

8.0%

higher is better · 6.0 / 5.453333 / 4.453333 / 3.453333

Manager RE Financials →

DEBT

Debt & Refi → (book-level)

Code

KPI

Value

Band

Weight

Cut-points

Controlled by

P-66

Reserve balance per unit ⓘ awaiting feed

reserve balances mapped to these investments.

—

higher is better · 600.0 / 400.0 / 250.0 / 100.0

Manager

D-1

ⓘ

noi	458,854
total debt service	102,529

App · RE Financials + debt module

Open Debt & Refi → (book-level)

4.48

25.0%

higher is better · 1.5 / 1.481667 / 1.331667 / 1.181667

Sponsor (us) Debt & Refi →

D-2

LTV ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

20.0%

lower is better · 0.441 / 0.541 / 0.641 / 0.741

Sponsor (us) Debt & Refi →

D-3

ⓘ

maturity date	2031-01-30
as of	2026-10-09
loan read from	property_debt

App · debt module / maturity schedule

Open Debt & Refi → (book-level)

51.71

15.0%

higher is better · 36.0 / 34.9 / 22.9 / 16.9

Sponsor (us) Debt & Refi →

D-4

ⓘ

loan type	Fixed
interest-only or amortising	Amortizing
the ladder	1 fixed & amortising · 2 fixed, interest-only · 3 floating (rubric: with a cap) · 4 floating, uncapped · 5 in default / forbearance
this deal lands on	1 — fixed and amortising
why	the loan type is fixed, and it is amortising
loan read from	property_debt

App · debt module (categorical)

Open Debt & Refi → (book-level)

1.00

6.2%

lower is better · 1.0 / 2.0 / 3.0 / 4.0

Sponsor (us) Debt & Refi →

D-5

Refinance gap [PUBLIC DATA] ⓘ awaiting feed

—

lower is better · -0.002833 / -0.001583 / 0.005917 / 0.015917

Market

D-6

ⓘ

NOI, T-12	458,854
loan balance	1,478,700

App · RE Financials + debt module

Open Debt & Refi → (book-level)

31.0%

18.8%

higher is better · 0.1109 / 0.1009 / 0.0909 / 0.0809

Sponsor (us) Debt & Refi →

D-7

Covenant headroom ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

15.0%

higher is better · 0.2654 / 0.1654 / 0.1154 / 0.0854

Sponsor (us)

D-8

Recourse exposure ⓘ awaiting feed

—

lower is better · 0.0 / 0.25 / 0.5 / 1.0

Sponsor (us) Debt & Refi →

VALUE

RE Financials →

Code	KPI	Value	Band	Weight	Cut-points	Controlled by
V-1	Total value multiple ⓘ This deal has no value for it; the KPI is weighted and does fire on other deals.	—	—	40.0%	higher is better · 2.0 / 1.936 / 1.536 / 1.236	Market RE Financials →
V-2	Appreciation vs all-in basis ⓘ This deal has no value for it; the KPI is weighted and does fire on other deals.	—	—	35.0%	higher is better · 0.599833 / 0.349833 / 0.199833 / 0.049833	Market RE Financials →
V-3	Value trend ⓘ This deal has no value for it; the KPI is weighted and does fire on other deals.	—	—	25.0%	higher is better · 0.172667 / 0.102667 / 0.042667 / -0.027333	Market RE Financials →

MANAGER

Reporting coverage → (book-level)

Code

KPI

Value

Band

Weight

Cut-points

Controlled by

M-1

ⓘ

latest statement held	2026-09
months since that statement	1

App · FS Tracker

Open Reporting coverage → (book-level)

1.00

20.0%

lower is better · 1.0 / 2.0 / 3.0 / 4.0

Manager Reporting coverage →

M-2

ⓘ

months filed in the last twelve

App · FS Tracker coverage

Open Reporting coverage → (book-level)

100.0%

20.0%

higher is better · 1.0 / 0.99 / 0.8635 / 0.6635

Manager Reporting coverage →

M-3

Financial accuracy ⓘ

This deal has no value for it; the KPI is weighted and does fire on other deals.

—

12.0%

lower is better · -0.653333 / -0.453333 / 0.546667 / 2.546667

Manager Reporting coverage →

M-4

Responsiveness ⓘ

1.00

12.0%

lower is better · 1.0 / 2.0 / 4.0 / 7.0

Manager

M-5

Transparency & track record ⓘ

2.00

16.0%

lower is better · 1.0 / 2.0 / 3.0 / 4.0

Manager

M-6

Unit turn time ⓘ

9.00

12.0%

lower is better · 5.0 / 10.0 / 14.0 / 21.0

Manager

M-7

Preventive maintenance completion ⓘ

96.0%

8.0%

higher is better · 0.95 / 0.9 / 0.8 / 0.65

Manager

Band — Backup Calculation

= Band

None

Formula: value vs four cut-points -> 1 (best) .. 5 (worst)

A KPI is banded against its OWN four cut-points, which live on the rubric and are editable. "Higher is better" ladders descend, "lower is better" ladders ascend. A value at or beyond the first cut-point scores 1; past the fourth, 5. A KPI with no value is ABSENT — it shows a dash, never a 5.

Source: report_card_kpi table → /report-card/rubric

Weight — Backup Calculation

= Weight

None

Formula: this KPI's share of its component

Relative within the component, not absolute. Weights renormalise around whatever is missing for this deal, so the ones shown need not total 100%% of what actually counted. A weight of 0 means the KPI is DEFINED but has no feed yet — it is on the card so that when data arrives it lands somewhere that already knows how to band it.

Source: report_card_kpi table → /report-card/rubric

DEAL INFORMATION TRACKER

Open the deal sheet →

How much of this deal's paperwork has been captured. A grade drawn from operating statements is a different claim from a grade on a deal whose documents nobody has read — this does not move the grade, it qualifies it.

Captured

35 / 51 69%

Human-confirmed

the rest are machine proposals

gp ownership

10%

auto · document

lp gp split

70% / 30%

confirmed · document

pref split note

8% compounding pref, return of capital, then 70/30; manager co-invests 10% pari passu

confirmed · document

preferred return

confirmed · document

purchase price

$2,465,000

confirmed · document

YOUR VIEW

Kept beside the model's grade, never over it. Where the two disagree, that gap is itself worth looking at.