BCBridge Credit IntelligenceCredit decision prototype
Juniper Ridge ApartmentsLocked base · Soft Landing

Underwriting · live centralized model

One case. One calculation path. No silent plugs.

Change a meaningful case assumption. Every dependent metric, policy result, stress case, breakpoint, and recommendation updates through the same frozen engines.

Locked base case0 changed inputs

Case inputs

Edit the underwriting

Click a value and type its replacement. Press Enter or click outside the field to apply it.

ILLUSTRATIVE

Live outputs

Instant decision impact

35/35 traced

Calculated stabilized NOI

$1,169,520

Effective rental income + other income − operating expenses

$1,559,520 + $70,000 − $460,000 = $1,169,520

190.6% growth from acquisition NOI

Loan-to-cost

77.51%

Total commitment ÷ total project cost

$12,440,639 ÷ $16,050,000 = 77.51%

WATCH · 80.00% maximum

Stabilized LTV

58.51%

Total commitment ÷ stabilized value

$12,440,639 ÷ $21,264,000 = 58.51%

PASS · 70.00% maximum

Committed debt yield

9.40%

Stabilized NOI ÷ total commitment

$1,169,520 ÷ $12,440,639 = 9.40%

PASS · 8.00% minimum

Refinance coverage

1.033×

Permanent proceeds ÷ refinance payoff

$12,849,355 ÷ $12,440,639 = 1.033×

EXCEPTION · 1.05× minimum

Refinance surplus

$408,716

Permanent proceeds − refinance payoff

$12,849,355 − $12,440,639 = $408,716

Permanent proceeds less the full $12.440639M commitment

Operating build

Stabilized NOI reconciliation

DERIVED
Unit typeUnitsMonthly rent
One bedroom18$3,400
Two bedroom18$4,200
Gross potential rent
$1,641,600
Less vacancy (5.00%)
($82,080)
Other income
$70,000
Operating expenses
($460,000)
Calculated stabilized NOI
$1,169,520

This amount is calculated once and consumed by valuation, policy, stress, refinance, dashboard, and review outputs.

Locked baseline → current decision state

What Changed

Only threshold-material changes appear. Each one carries its old value, new value, materiality test, downstream credit impact, and disposition consequence.

0 material
Materiality gate0 material changes

COUNT(changed inputs where ABS(current − baseline) ≥ field materiality threshold)

0 of 0 changed inputs = 0
Disposition impactNO DISPOSITION CHANGE

Current calculated disposition compared with locked baseline disposition

PROCEED — CONDITIONAL → PROCEED — CONDITIONAL
Policy impactBase UNCHANGED · Stress UNCHANGED

Current worst selected-stress policy status compared with locked baseline

EXCEPTION → EXCEPTION
Payoff guardrail$0 change — full commitment preserved

Current refinance payoff − locked baseline refinance payoff

$12,440,639 − $12,440,639 = $0

No material changes

The active decision state reconciles to the locked Juniper Ridge and Soft Landing baseline. COUNT(material changes) = 0.

Impact rows compare the entire current decision state with the locked baseline; blended changes are never misrepresented as single-input attribution.

Complete calculation auditFormula, actual case values, and result for every central-engine output35/35 traced

Property & operations

OutputFormulaNumbers usedResult
Unit countDERIVEDSum of unit counts in the operating schedule18 + 1836
Price per unitDERIVEDPurchase price ÷ property units$11,500,000 ÷ 36$319,444
Current NOIDERIVEDPurchase price × reported acquisition cap rate$11,500,000 × 3.50%$402,500
Gross potential rentDERIVEDΣ(unit count × stabilized monthly rent × 12)(18 × $3,400 × 12) + (18 × $4,200 × 12)$1,641,600
Vacancy lossDERIVEDGross potential rent × stabilized vacancy$1,641,600 × 5.00%$82,080
Effective rental incomeDERIVEDGross potential rent − vacancy loss$1,641,600 − $82,080$1,559,520
Stabilized other incomeILLUSTRATIVEIllustrative underwriting input — not calculatedInput carried into the NOI build: $70,000$70,000
Stabilized operating expensesILLUSTRATIVEIllustrative underwriting input — not calculatedInput carried into the NOI build: $460,000$460,000
Stabilized NOIDERIVEDEffective rental income + other income − operating expenses$1,559,520 + $70,000 − $460,000$1,169,520
NOI growthDERIVEDStabilized NOI ÷ current NOI − 1$1,169,520 ÷ $402,500 − 1190.56%

Capital & bridge

OutputFormulaNumbers usedResult
Total project costDERIVEDPurchase + closing + renovation + contingency + financing + interest reserve + other reserves$11,500,000 + $250,000 + $2,800,000 + $280,000 + $320,000 + $800,000 + $100,000$16,050,000
Sponsor equityDERIVEDTotal project cost − total commitment$16,050,000 − $12,440,639$3,609,361
Sponsor liquidity sourcesDERIVEDPre-close liquidity + additional documented equity sources$7,200,000 + $9,361$7,209,361
Sponsor liquidity reconciliation gapDERIVEDSponsor liquidity sources − required sponsor equity − post-close liquidity$7,209,361 − $3,609,361 − $3,600,000$0
Loan-to-costDERIVEDTotal commitment ÷ total project cost$12,440,639 ÷ $16,050,00077.51%
Funded debt yieldDERIVEDCurrent NOI ÷ initial funded amount$402,500 ÷ $10,500,0003.83%
Committed debt yieldDERIVEDStabilized NOI ÷ total commitment$1,169,520 ÷ $12,440,6399.40%
Annual bridge interest — initial fundingDERIVEDInitial funded amount × bridge interest rate$10,500,000 × 9.50%$997,500
Annual bridge interest — full commitmentDERIVEDTotal commitment × bridge interest rate$12,440,639 × 9.50%$1,181,861
Bridge interest-only DSCR — initial fundingDERIVEDCurrent NOI ÷ annual interest on initial funding$402,500 ÷ $997,5000.404×
Capex contingencyDERIVEDCapex contingency ÷ renovation budget$280,000 ÷ $2,800,00010.00%

Valuation & takeout

OutputFormulaNumbers usedResult
Stabilized valueDERIVEDStabilized NOI ÷ exit cap rate$1,169,520 ÷ 5.50%$21,264,000
Stabilized LTVDERIVEDTotal commitment ÷ stabilized value$12,440,639 ÷ $21,264,00058.51%
Annual mortgage constantDERIVED12 × [r(1+r)ⁿ ÷ ((1+r)ⁿ − 1)]r = 6.50% ÷ 12; n = 30 × 12 = 3607.5848163%
LTV-sized permanent proceedsDERIVEDStabilized value × permanent maximum LTV$21,264,000 × 70.00%$14,884,800
DSCR-sized permanent proceedsDERIVEDStabilized NOI ÷ (minimum DSCR × annual mortgage constant)$1,169,520 ÷ (1.20 × 7.5848163%)$12,849,355
Permanent proceedsDERIVEDLesser of LTV-sized and DSCR-sized proceedsMIN($14,884,800, $12,849,355)$12,849,355
Binding permanent-loan constraintDERIVEDConstraint producing the lower permanent proceeds$12,849,355 DSCR vs. $14,884,800 LTVDSCR
Refinance payoffDERIVEDLocked v1 payoff = full bridge commitmentFull commitment carried as payoff: $12,440,639$12,440,639
Refinance coverageDERIVEDPermanent proceeds ÷ refinance payoff$12,849,355 ÷ $12,440,6391.033×
Refinance surplusDERIVEDPermanent proceeds − refinance payoff$12,849,355 − $12,440,639$408,716

Sponsor support

OutputFormulaNumbers usedResult
Required sponsor liquidityDERIVEDTotal commitment × policy minimum liquidity percentage$12,440,639 × 10.00%$1,244,064
Sponsor liquidity cushionDERIVEDPost-close liquidity − required liquidity$3,600,000 − $1,244,064$2,355,936
Required sponsor net worthDERIVEDTotal commitment × policy minimum net-worth percentage$12,440,639 × 100.00%$12,440,639
Sponsor net-worth cushionDERIVEDSponsor net worth − required sponsor net worth$25,000,000 − $12,440,639$12,559,361

Source lineage · active decision state

Know what is sourced, assumed, and calculated.

100% tracedTraced decision inputs ÷ total decision inputs114 ÷ 114 = 100%
ILLUSTRATIVE

Case inputs

Every Juniper Ridge input carries a field-level source label and provenance note.

ILLUSTRATIVE

Scenario and policy

Stress inputs and centralized thresholds remain separate from calculated outputs.

DERIVED

Calculated outputs

Credit, policy, stress, breakpoint, and recommendation outputs are generated by the central engines with formula, values, and result.

PUBLIC

Public-source inputs

0 PUBLIC transaction facts are used in the active case.

COUNT(active inputs where source type = PUBLIC): COUNT(PUBLIC inputs) = 0
Complete input provenance registerEvery sourced case input plus active stress, policy, and reviewer control114/114 traced

Property

InputCurrent valueSource stateSource and note
Nameproperty.nameJuniper Ridge ApartmentsILLUSTRATIVEJuniper Ridge case studySample case input.
Addressproperty.address100 Juniper Ridge WayILLUSTRATIVEJuniper Ridge case studySample case input.
Cityproperty.cityDenverILLUSTRATIVEJuniper Ridge case studySample case input.
Stateproperty.stateCOILLUSTRATIVEJuniper Ridge case studySample case input.
Asset Typeproperty.assetTypeMultifamilyILLUSTRATIVEJuniper Ridge case studySample case input.
Unitsproperty.units36ILLUSTRATIVEJuniper Ridge case studySample case input.
Year Builtproperty.yearBuilt1,962ILLUSTRATIVEJuniper Ridge case studySample case input.
Strategyproperty.strategyValue-add renovationILLUSTRATIVEJuniper Ridge case studySample case input.

Acquisition

InputCurrent valueSource stateSource and note
Purchase Priceacquisition.purchasePrice$11,500,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Occupancy At Saleacquisition.occupancyAtSale97.00%ILLUSTRATIVEJuniper Ridge case studySample case input.
Acquisition Cap Rateacquisition.acquisitionCapRate3.50%ILLUSTRATIVEJuniper Ridge case studySample case input.

Operations

InputCurrent valueSource stateSource and note
One bedroom · Unit Countoperations.unitTypes[0].unitCount18ILLUSTRATIVEJuniper Ridge case studySample case input.
One bedroom · Current Monthly Rentoperations.unitTypes[0].currentMonthlyRent$2,250ILLUSTRATIVEJuniper Ridge case studySample case input.
One bedroom · Stabilized Monthly Rentoperations.unitTypes[0].stabilizedMonthlyRent$3,400ILLUSTRATIVEJuniper Ridge case studySample case input.
Two bedroom · Unit Countoperations.unitTypes[1].unitCount18ILLUSTRATIVEJuniper Ridge case studySample case input.
Two bedroom · Current Monthly Rentoperations.unitTypes[1].currentMonthlyRent$2,700ILLUSTRATIVEJuniper Ridge case studySample case input.
Two bedroom · Stabilized Monthly Rentoperations.unitTypes[1].stabilizedMonthlyRent$4,200ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilized Vacancyoperations.stabilizedVacancy5.00%ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilized Other Incomeoperations.stabilizedOtherIncome$70,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilized Operating Expensesoperations.stabilizedOperatingExpenses$460,000ILLUSTRATIVEJuniper Ridge case studySample case input.

Business plan

InputCurrent valueSource stateSource and note
Closing CostsbusinessPlan.closingCosts$250,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovation BudgetbusinessPlan.renovationBudget$2,800,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Capex ContingencybusinessPlan.capexContingency$280,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Financing CostsbusinessPlan.financingCosts$320,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Interest ReservebusinessPlan.interestReserve$800,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Other ReservesbusinessPlan.otherReserves$100,000ILLUSTRATIVEJuniper Ridge case studySample case input.

Sponsor capacity

InputCurrent valueSource stateSource and note
Pre Close Liquiditysponsor.preCloseLiquidity$7,200,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Additional Equity Sourcessponsor.additionalEquitySources$9,361ILLUSTRATIVEJuniper Ridge case studyIllustrative outside-equity source that exactly reconciles the locked pre-close liquidity, calculated sponsor equity, and locked post-close liquidity assumptions.
Post Close Liquiditysponsor.postCloseLiquidity$3,600,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Net Worthsponsor.netWorth$25,000,000ILLUSTRATIVEJuniper Ridge case studySample case input.

Sponsor execution

InputCurrent valueSource stateSource and note
Sponsor NamesponsorExecution.sponsorNameIllustrative value-add multifamily sponsorILLUSTRATIVEJuniper Ridge case studySample case input.
Value Add Multifamily Experience YearssponsorExecution.valueAddMultifamilyExperienceYears12ILLUSTRATIVEJuniper Ridge case studySample case input.
Total Projects CompletedsponsorExecution.totalProjectsCompleted18ILLUSTRATIVEJuniper Ridge case studySample case input.
Comparable Projects CompletedsponsorExecution.comparableProjectsCompleted7ILLUSTRATIVEJuniper Ridge case studySample case input.
Largest Comparable Renovation BudgetsponsorExecution.largestComparableRenovationBudget$5,000,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Median Realized Cost Variance %sponsorExecution.medianRealizedCostVariancePct6.00%ILLUSTRATIVEJuniper Ridge case studySample case input.
Median Realized Schedule Variance MonthssponsorExecution.medianRealizedScheduleVarianceMonths2 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Dedicated Construction LeadsponsorExecution.dedicatedConstructionLeadYesILLUSTRATIVEJuniper Ridge case studySample case input.
Dedicated Asset Management LeadsponsorExecution.dedicatedAssetManagementLeadYesILLUSTRATIVEJuniper Ridge case studySample case input.
Organizational CapacitysponsorExecution.organizationalCapacityDedicated construction and asset-management leads supported by a third-party property manager and general contractor.ILLUSTRATIVEJuniper Ridge case studySample case input.
Prior Lender PerformancesponsorExecution.priorLenderPerformanceSample profile input modeled as satisfactory; lender references and loan-performance history remain open diligence.ILLUSTRATIVEJuniper Ridge case studySample case input.
Cost Control ApproachsponsorExecution.costControlApproachUnit-level scopes, monthly draw certification, variance reporting, and sponsor-funded overruns after available reserves.ILLUSTRATIVEJuniper Ridge case studySample case input.

Execution plan

InputCurrent valueSource stateSource and note
Acquire · Start MonthexecutionPlan[0].startMonth0 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · End MonthexecutionPlan[0].endMonth1 monthILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · ObjectiveexecutionPlan[0].objectiveClose on the asset with the capital plan, scope, controls, and closing diligence ready to execute.ILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · Key AssumptionsexecutionPlan[0].keyAssumptionsClose under the acquisition and initial funding terms in the central deal record.; Preserve the occupied asset through the transition into renovation.; Renovation scope, budget, permits, and contractor plan are substantially ready at closing.ILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · Required ExecutionexecutionPlan[0].requiredExecutionComplete legal, physical, environmental, insurance, and property-management diligence.; Finalize unit-level scopes, draw controls, contractor terms, and the renovation sequence.ILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · Lender ExposureexecutionPlan[0].lenderExposureThe lender funds the acquisition before the renovation thesis and rent premium have been proven.ILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · Failure ModesexecutionPlan[0].failureModesPhysical or legal diligence reveals unbudgeted work.; The sponsor closes before scopes, contracts, permits, or operating controls are ready.ILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · Early Warning IndicatorsexecutionPlan[0].earlyWarningIndicatorsMaterial third-party-report exceptions remain unresolved near closing.; Scope coverage, contractor pricing, or permit timing remains incomplete.ILLUSTRATIVEJuniper Ridge case studySample case input.
Acquire · Lender ProtectionsexecutionPlan[0].lenderProtectionsClosing conditions tied to third-party reports, verified sources and uses, and evidence of required sponsor equity.; Documented future-funding conditions and lender consent for material budget reallocations.ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · Start MonthexecutionPlan[1].startMonth1 monthILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · End MonthexecutionPlan[1].endMonth19 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · ObjectiveexecutionPlan[1].objectiveComplete the unit renovation program without exhausting contingency, liquidity, or operating runway.ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · Key AssumptionsexecutionPlan[1].keyAssumptionsComplete the scope inside the renovation budget and contingency in the central deal record.; Maintain the pace implied by the modeled stage window and unit count.; Sponsor funds overruns after available contingency and reserves; the loan commitment stays fixed.ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · Required ExecutionexecutionPlan[1].requiredExecutionSequence resident turnover, unit downtime, construction, inspections, and lease-up without compounding vacancy.; Control draws, lien releases, scope changes, schedule variance, and contractor performance monthly.ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · Lender ExposureexecutionPlan[1].lenderExposureFuture advances increase while renovation disruption can temporarily weaken occupancy, cash flow, and interest coverage.ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · Failure ModesexecutionPlan[1].failureModesCosts exceed contingency or unit completion pace falls behind the modeled schedule.; Resident disruption, permitting delays, or contractor weakness reduces occupancy and extends carry.ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · Early Warning IndicatorsexecutionPlan[1].earlyWarningIndicatorsCost-to-complete rises faster than remaining budget and contingency.; Completed units per month, days offline, lien status, or draw documentation deteriorates.ILLUSTRATIVEJuniper Ridge case studySample case input.
Renovate · Lender ProtectionsexecutionPlan[1].lenderProtectionsControlled future funding with inspections, lien waivers, monthly budget-to-actual reporting, and cost-to-complete tests.; Sponsor-funded overruns after reserves, completion support, and the ability to stop advances after an uncured default.ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · Start MonthexecutionPlan[2].startMonth6 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · End MonthexecutionPlan[2].endMonth24 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · ObjectiveexecutionPlan[2].objectiveProve the modeled rents, occupancy, expense load, and calculated stabilized NOI.ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · Key AssumptionsexecutionPlan[2].keyAssumptionsAchieve the unit rents stored in the central operating schedule.; Reach the vacancy, other-income, and expense assumptions in the central deal record.; Lease-up overlaps the latter portion of the renovation program.ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · Required ExecutionexecutionPlan[2].requiredExecutionDeliver renovated units at a consistent pace and convert qualified demand without excessive concessions.; Track achieved rents, renewals, traffic, absorption, vacancy, concessions, expenses, and trailing NOI.ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · Lender ExposureexecutionPlan[2].lenderExposureThe repayment case depends on a large rent and NOI increase while renovation and lease-up risks overlap.ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · Failure ModesexecutionPlan[2].failureModesMarket rents or absorption do not support the modeled premium.; Concessions, vacancy, or operating expenses prevent the asset from reaching target NOI.ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · Early Warning IndicatorsexecutionPlan[2].earlyWarningIndicatorsAchieved rents, leasing velocity, renewal retention, or occupancy trail plan.; Concessions, delinquency, expense run rate, or rolling three-month NOI worsen.ILLUSTRATIVEJuniper Ridge case studySample case input.
Stabilize · Lender ProtectionsexecutionPlan[2].lenderProtectionsMonthly operating reporting, leasing milestones, variance triggers, and no distributions before required performance is achieved.; Extension eligibility tied to progress, liquidity, reserve sufficiency, and minimum operating performance.ILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · Start MonthexecutionPlan[3].startMonth21 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · End MonthexecutionPlan[3].endMonth27 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · ObjectiveexecutionPlan[3].objectiveRepay the full modeled commitment through permanent financing or a sale before the bridge maturity window closes.ILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · Key AssumptionsexecutionPlan[3].keyAssumptionsUse the exit cap, permanent rate, amortization, DSCR, and LTV assumptions in the central deal record.; The full commitment is treated as the refinance payoff.; The modeled exit may use extension availability but must remain inside the full term.ILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · Required ExecutionexecutionPlan[3].requiredExecutionBegin lender or buyer outreach before stabilization is complete and maintain current third-party reports and diligence materials.; Demonstrate sufficient in-place NOI, value, DSCR, and liquidity to close the takeout or fund any required paydown.ILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · Lender ExposureexecutionPlan[3].lenderExposurePermanent proceeds are DSCR-constrained and modeled refinance coverage is below the illustrative 1.05x minimum.ILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · Failure ModesexecutionPlan[3].failureModesRates, cap rates, or NOI produce takeout proceeds below the bridge payoff.; The sponsor begins the exit process too late or cannot fund a required equity cure.ILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · Early Warning IndicatorsexecutionPlan[3].earlyWarningIndicatorsRefinance coverage, term remaining, lender engagement, or third-party-report timing falls behind plan.; Trailing NOI, DSCR-sized proceeds, value, or sponsor liquidity deteriorates.ILLUSTRATIVEJuniper Ridge case studySample case input.
Refinance / Sell · Lender ProtectionsexecutionPlan[3].lenderProtectionsExtension conditions, refinance-process milestones, cash management, and periodic updated takeout sizing.; Sponsor paydown or equity cure, additional carry support, sale process requirements, or HOLD if repayment cannot be demonstrated.ILLUSTRATIVEJuniper Ridge case studySample case input.

Bridge structure

InputCurrent valueSource stateSource and note
Initial Funded Amountloan.initialFundedAmount$10,500,000ILLUSTRATIVEJuniper Ridge case studySample case input.
Bridge Interest Rateloan.bridgeInterestRate9.50%ILLUSTRATIVEJuniper Ridge case studySample case input.
Initial Term Monthsloan.initialTermMonths24 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Extension Countloan.extensionCount2ILLUSTRATIVEJuniper Ridge case studySample case input.
Extension Monthsloan.extensionMonths6 monthsILLUSTRATIVEJuniper Ridge case studySample case input.
Total Commitmentloan.totalCommitment$12,440,639ILLUSTRATIVEJuniper Ridge case studySample case input.

Exit assumptions

InputCurrent valueSource stateSource and note
Exit Cap Rateexit.exitCapRate5.50%ILLUSTRATIVEJuniper Ridge case studySample case input.
Permanent Interest Rateexit.permanentInterestRate6.50%ILLUSTRATIVEJuniper Ridge case studySample case input.
Permanent Amortization Yearsexit.permanentAmortizationYears30ILLUSTRATIVEJuniper Ridge case studySample case input.
Permanent Minimum DSCRexit.permanentMinimumDscr1.20×ILLUSTRATIVEJuniper Ridge case studySample case input.
Permanent Maximum LTVexit.permanentMaximumLtv70.00%ILLUSTRATIVEJuniper Ridge case studySample case input.

Selected downside

InputCurrent valueSource stateSource and note
Selected stress scenariostress.scenarioNameSoft LandingILLUSTRATIVESoft Landing downside caseActive stress assumption.
Stabilized NOI Change %stress.stabilizedNoiChangePct-5.00%ILLUSTRATIVESoft Landing downside caseActive stress assumption.
Exit Cap Rate Change Bpsstress.exitCapRateChangeBps25 bpsILLUSTRATIVESoft Landing downside caseActive stress assumption.
Capex Overrun %stress.capexOverrunPct5.00%ILLUSTRATIVESoft Landing downside caseActive stress assumption.
Stabilization Delay Monthsstress.stabilizationDelayMonths2 monthsILLUSTRATIVESoft Landing downside caseActive stress assumption.
Permanent Interest Rate Change Bpsstress.permanentInterestRateChangeBps25 bpsILLUSTRATIVESoft Landing downside caseActive stress assumption.

Illustrative policy

InputCurrent valueSource stateSource and note
Max LTCpolicy.maxLtc80.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Max Stabilized LTVpolicy.maxStabilizedLtv70.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Min Stabilized Debt Yieldpolicy.minStabilizedDebtYield8.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Min Refi Coveragepolicy.minRefiCoverage1.05×ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Min Capex Contingency %policy.minCapexContingencyPct10.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Min Sponsor Liquidity % Of Commitmentpolicy.minSponsorLiquidityPctOfCommitment10.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Min Sponsor Net Worth % Of Commitmentpolicy.minSponsorNetWorthPctOfCommitment100.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
LTC Abovepolicy.watchThresholds.ltcAbove75.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Stabilized LTV Abovepolicy.watchThresholds.stabilizedLtvAbove65.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Stabilized Debt Yield Belowpolicy.watchThresholds.stabilizedDebtYieldBelow9.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Refinance Coverage Belowpolicy.watchThresholds.refinanceCoverageBelow1.10×ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Capex Contingency Belowpolicy.watchThresholds.capexContingencyBelow12.50%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Sponsor Liquidity Below % Of Commitmentpolicy.watchThresholds.sponsorLiquidityBelowPctOfCommitment15.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Sponsor Net Worth Below % Of Commitmentpolicy.watchThresholds.sponsorNetWorthBelowPctOfCommitment125.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Stabilized LTV Abovepolicy.hardStops.stabilizedLtvAbove80.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Refi Coverage Belowpolicy.hardStops.refiCoverageBelow0.90×ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.
Liquidity Below % Of Required Minimumpolicy.hardStops.liquidityBelowPctOfRequiredMinimum50.00%ILLUSTRATIVEBridge Credit Policy — Sample ThresholdsCentralized sample policy threshold.

Human judgment

InputCurrent valueSource stateSource and note
Major diligence gap designatedjudgment.majorDiligenceBlockingNoILLUSTRATIVEExplicit human credit judgmentExplicit reviewer input. The prototype never infers this judgment or converts it into an approval action.
Active hard stop designated unmitigablejudgment.unmitigableFailureNoILLUSTRATIVEExplicit human credit judgmentExplicit reviewer input. The prototype never infers this judgment or converts it into an approval action.