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NEBF Real Estate
Submission Guidelines

Submissions to NEBF Staff usually consist of an initial submission and, subsequently, the submission of comprehensive due diligence materials. The initial submission should contain, at a minimum, the basic project information needed to underwrite the development on a preliminary basis. This should include at least the following information:     

• Project Description – a general overview of the project including project size, location, development plan, preliminary architectural renderings and site plan.

• Proposed Investment Structure –  the proposed capital requirements of the project (i.e., amount and terms of proposed joint venture equity, mezzanine debt, etc.), including projected third-party capital.

• Monthly Development Budget – a monthly budget detailing land, hard cost and soft cost line items over the expected construction and lease-up or sell-out period.

• Monthly Pro Forma – a monthly projection of project income and expenses including a summary of assumptions used to create the pro forma. The timeframe of the pro forma should cover the life of the investment or 10 years.

• Market Information – a brief description of the applicable market conditions and the project’s profile relative to that market.