To estimate the contract value, we need to calculate the total rent paid over the 15-year lease term. The monthly rent schedule is provided, and we can calculate the total rent as follows: Total rent = (Monthly rent) x (Number of months) Using the initial monthly rent of $20,173.40 and the 15-year lease term (180 months), we can estimate the total rent as follows: Total rent = ($20,173.40 + $41,758.94 + $43,220.50 + $44,733.22 + $46,298.88 + $47,919.34 + $49,596.52 + $53,129.03 + $54,988.55 + $56,913.15 + $58,905.11 + $60,966.78 + $63,100.62 + $65,309.14) x (12 months/year) x (15 years) However, since the monthly rent increases over time, we need to calculate the total rent for each period and sum them up. Total rent = ($20,173.40 x 12) + ($41,758.94 x 12) + ($43,220.50 x 12) + ($44,733.22 x 12) + ($46,298.88 x 12) + ($47,919.34 x 12) + ($49,596.52 x 12) + ($53,129.03 x 12) + ($54,988.55 x 12) + ($56,913.15 x 12) + ($58,905.11 x 12) + ($60,966.78 x 12) + ($63,100.62 x 12) + ($65,309.14 x 12) Total rent ≈ $20,173.40 x 12 + $41,758.94 x 12 + $43,220.50 x 12 + $44,733.22 x 12 + $46,298.88 x 12 + $47,919.34 x 12 + $49,596.52 x 12 + $53,129.03 x 12 + $54,988.55 x 12 + $56,913.15 x 12 + $58,905.11 x 12 + $60,966.78 x 12 + $63,100.62 x 12 + $65,309.14 x 12 Total rent ≈ $5,371,965.12 Adding the FF&E allowance of $77,590.00, the total contract value can be estimated as follows: Total contract value ≈ $5,371,965.12 + $77,590.00 Total contract value ≈ $5,449,555.12 Therefore, the estimated contract value is approximately $5,449,555.12.
