List of Reports and Datasets Included with the ARVDI xl AAM Excel Addin

This is a list of the 63 Data sets/Reports that are included with every release of the ARVDI xl AAM Excel addin for ARGUS Asset Management (a/k/a DYNA) Users.

The Excel add-in enables users to connect to a DYNA Database (SQL or MDB) and set a number of parameters such as:

  1. Projects to include
  2. Start Date for Results
  3. Number of Months, Quarters and Years of Data to include
  4. Set a Lease Forecast Review Period Date Range
  5. Check if Results should end at a Property Sale Date
  6. Check if Results should be excluded for an account where all amounts are Zero
  7. Check if Sign Changes should be applied to the Financial Results
  8. User has the option to select Results by Account Number for some Reports
  9. Select 1, a few, or ALL 63 Reports/Data sets for processing
Report Level Report Name DB Source Is a Result Comment
1 Admin CHART Both No Import the Chart and then Add Group Columns you want to use for Account Selection (e.g. Group 1: CAM Expense, CAM Tax). Save the Chart to its own Excel file for future use. Review the Chart for completeness and setup in Argus.
2 Admin Portfolio Category List SQL No List of Portfolio Categories set up in ARGUS
3 Admin Portfolio Classification List SQL No List of Portfolio Classifications for each Category set up in ARGUS
4 Admin Tenant Category List SQL No List of Tenant Categories set up in ARGUS
5 Admin Tenant Classification List SQL No List of Tenant Classifications for each Category set up in ARGUS
6 Property Summary Summary NOI Detail CapX Both Yes Includes Asset Management calculated NOI, Property Level TI and LC and other Capital disbursements (Parent only – no SubAccount detail) that affect Cash.
7 Property Summary Summary NCF Data Both Yes Includes Asset Management calculated summary Totals for NOI, NOI-Receipts, Capital Expenditures, Cash Flow and NRA. If your model setup matches the Asset Management formulas then these amounts can be used for Quick PV and IRR calculations as well as a quick overview of the performance of a Portfolio.
8 Property Detail All Property Results Both Yes Includes ALL Asset Management non-Tenant related time series results records.
9 Property Detail Financial Data With NRA Both Yes This is the primary Financial data for Reporting and includes all Forecast time series results for Revenue, Expenses, Debt Service and Capital.
10 Property Detail By Period Input SQL Yes This is a fairly raw data dump of amounts entered By Period in Asset Management. Lookup formulas to other datasets (e.g. Receipts or Disbursements) would add more definition/meaning to the data.
11 Property Detail Actuals Both Yes If Actuals are current in the financial model then you can easily generate a table of Actuals for your Project(s) over any time period. Could be very useful in meeting an ad hoc customer/appraiser/investor/leasing agent request for Actuals.
12 Sale Data Sale Activity Sale Date1 SQL Yes If Sale 1 is setup in Asset Management, this will provide the Sale Proceeds and some other key amounts for the Sale Date month.
13 Model Setup All Receipts and Disb SQL No Review the financial model Receipt and Disbursement setup for consistency, use of ControlRef values, accounting and NOI treatment, Begin Dates, Inflation Table use and Inflation Start.
14 Model Setup Disbursement Setup SQL No Review the financial model Disbursement setup for consistency, use of ControlRef values, accounting and NOI treatment, Begin Dates, Inflation Table use and Inflation Start.
15 Model Setup Receipts Setup SQL No Review the financial model Receipt setup for consistency, use of ControlRef values, accounting and NOI treatment, Begin Dates, Inflation Table use and Inflation Start.
16 Select by Account Property Results by Acct SQL Yes Select Accounts from your Chart and then view the Financial Results for those Accounts. This is very useful for analyzing an Account Group (e.g. CAM Insurance Expense) across a Portfolio.
17 Select by Account Receipts-Disb By ControlRef SQL No Select specific financial model Receipt and Disbursement records by Account Number where the ControlRef is the Account number.
18 Select by Account Actuals by Acct SQL Yes If Actuals are current in the financial model then you can easily generate a table of Actuals for specific Accounts for your Project(s) over any time period. Could be very useful in meeting a customer/investors/leasing agents request for Actuals.
19 Tenant Setup Tenant Register SQL No Complete list of All Base Lease, Renewal and Option Tenants setup in Argus including Tenant Name, Suite, Lease Start and End, and Renewal Assumptions. Provides the portfolio analyst with a complete list of tenants that can be searched for reasonableness (e.g. Start dates for Spec Tenants), completeness of input (e.g. use of Tenant Reference codes, TI and LC Tables). The Excel file format makes it possible to compare Tenant Registers between ARGUS Versions and from forecast Quarter to Quarter.
20 Tenant Setup Tenant Register-Classifications SQL No Tenant Register plus All Tenant Classifications
21 Tenant Forecast All Tenant Results Both Yes Includes ALL Asset Management Tenant related time series results records.
22 Tenant Forecast Gross Potential SQL Yes Includes Base Rent, Free Rent, SL Adjustment, Vacancy-Credit, Downtime-Delayed Starts
23 Tenant Forecast Base Rent SQL Yes Includes Base Rent, Fixed Steps and CPI
24 Tenant Forecast Free Rent SQL Yes Includes Free Rent
25 Tenant Forecast SL Adjustment SQL Yes Includes SL Adjustment.
26 Tenant Forecast Percent Rent SQL Yes Includes Percent Rent and Offsets
27 Tenant Forecast Recovery Revenue SQL Yes Includes all Tenant specific Recovery Revenue
28 Tenant Forecast Cam Pool Contr SQL Yes This is under review for modification or removal. Currently repeats amounts for each occurrence of use with a Recovery.
29 Tenant Forecast Tenant Improvements SQL Yes Includes Tenant Improvements (TI) modeled at the Tenant level.
30 Tenant Forecast Leasing Commissions SQL Yes Includes Leasing Commissions (LC) modeled at the Tenant level.
31 Tenant Forecast All Capital SQL Yes Includes TI, LC and Tenant Misc Capital Receipts and Disbursements
32 Tenant Forecast Misc NOI SQL Yes Includes Tenant Miscellaneous Revenue and Expenses, if any.
33 Tenant Forecast Misc Capital SQL Yes Includes Tenant Misc Capital Receipts and Disbursements
34 Tenant Forecast Vacancy-Credit SQL Yes Includes Tenant Level Vacancy and Credit Loss amounts.
35 Tenant Forecast Downtime-Delayed Starts SQL Yes Includes Gross Potential Revenue related to space currently not leased due to Downtime or a delayed start.
36 Tenant Forecast Activity Date And Area SQL Yes Includes Codes to indicate when a Lease starts and ends and the type of activity (New, Renewal, Option, Spec Renewal, Mid-Lease change) and the occupied square feet.
37 Tenant Forecast Avg Occupied Area By Tenant Both Yes
38 Tenant Forecast Market Info By Tenant Both Yes
39 Tenant Forecast Passing Rent By Tenant Both Yes
40 Tenant Forecast Setup Lease Forecast-All Tenants SQL No List of Tenants with special columns related to the Lease Forecast Period
41 Tenant Forecast Setup Suite Dates Overlap SQL No List of Tenants that have the same Suite leased 2 or more times in same time period.
42 Tenant Forecast Setup Vacant Units SQL No List of Units that are Vacant at the start of the Lease Forecast period.
43 Tenant Forecast Setup Roll in Lease Forecast SQL No List of Tenants that End during the Lease Forecast period.
44 Tenant Forecast Setup Check Start Date SQL No List of Spec and Vacant units that Start before the Lease Forecast period.
45 Tenant Forecast Setup Move Options Forward SQL No List of Tenants where the Base Lease expired before the Lease Forecast period and have an active Renewal or Option.
46 Tenant Forecast Setup Leases End Before Forecast SQL No List of All Tenants that Expire before the Lease Forecast period.
47 Tenant Forecast Setup Vacant through Forecast SQL No List of Units that do not Lease until after the Lease Forecast period.
48 Global Forecast Data Forecast Expense Rates SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
49 Global Forecast Data Forecast Lease Rates SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
50 Global Forecast Data Forecast SalesVol Rates SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
51 Global Forecast Data Forecast Inflation Table SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
52 Global Forecast Data Forecast Free Rent Months SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
53 Global Forecast Data Forecast Vacancy Credit Rates SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
54 Global Forecast Data Forecast Downtime Months SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
55 Global Forecast Data Forecast TI Rates SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
56 Global Forecast Data Forecast LC Rates SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
57 Global Forecast Data Forecast Interest Rates SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
58 Global Forecast Data Forecast Renewal Probability SQL Yes Forecast amounts based on table setup. Shows average for Quarterly and Yearly amounts.
59 Global Forecast Data Forecast ALL Global Rates SQL Yes Includes data for all of the Forecast Tables.
60 Reference Table Input Building Area Setup SQL No Shows key fields for the Building area tables. Check for consistent use of ControlRef and Building area names.
61 Reference Table Input Defined Dates Setup SQL No Check for consistent use of ControlRef, Date names and Dates.
62 Reference Table Input Downtime Setup SQL No Check for consistent use of ControlRef and names
63 Reference Table Input Lease Rates Setup SQL No Check for consistent use of ControlRef, Rate names and Rates.

Shadow Space Definition

Our definition of “Shadow Space” is space that is Leased, paying rent, under utilized, and not suitable for Sublet.

Do you agree with this definition or do you have an alternative to suggest?

The concept is most applicable to office space where the Tenant has laid off a substantial amount of its work force in the leased premises but cannot terminate the lease and may not want to go through the time and effort to consolidate within the leased space. When the lease expires, unless there is a substantial economic recovery, the Shadow Space would most likely be vacated.

Shadow space is not normally tracked in Market Data Reports. As an industry however, Real Estate Investors should try to calculate the extent of Shadow Space when doing cash flow projections, net absorption predictions, market share and Valuations. If a Sub Market has a large amount of Shadow Space, and/or the Tenants within a Property have Shadow Space it could dramatically impact Net Absorption.

An estimate of Shadow Space could be calculated for a SubMarket and a Property as follows:

Leased Area
Less: space available for Sublet
Less: Utilized Area (see calculation below)
Shadow Space

Utilized Area = # of Office Workers X Avg Office Area per Worker (e.g. 250 Square Feet)

BUDGETING TIPS FOR 2013-14 OFFICE LEASING ASSUMPTIONS

1. Consider a new Lease re-negotiation strategy for Leases expiring in 2013 and possibly 2014
If the job market does not recover there could be significant pricing wars to maintain occupancy. A pro-active leasing strategy may help reduce your exposure.

2. Survey your tenants/buildings to determine number of Office workers on premises:

  • Do they have empty work spaces due to layoffs?
  • What is the average footprint per employee (e.g. 350 SqFt/office worker)?
  • Does the tenant have a new footprint target per employee for their next lease (e.g. 200 SqFt/office worker)

3. Then calculate Shadow Space, if any

4. Estimate Shadow Space in your Market (see our Post on a definition for Shadow Space)

5. Determine amount of sublet space in your building(s)

6. Determine amount of sublet and available space in your market

7. Obtain and Study the Net Absorption Projections for your Market and make sure the following are taken into consideration:

  • projected job growth for office workers in your market
  • possible downsizing due to smaller footprints per office worker
  • possible give back of space due to previously laid off office workers
  • properly includes consideration for sublet and shadow space

8. Estimate where you will fall relative to Net Absorption
To out perform the market average will require an aggressive Leasing and Concession strategy

  • Is it reasonable to expect to match the market net absorption with average lease terms?
  • Under perform relative to projected Market Net Absorption
  • could be do to excessive turnover in your portfolio
  • what are your options to boost occupancy
  • do you feel market Net Absorption projections are too aggressive

9. Take a hard look at inflation Assumptions regarding Lease Terms and Recoveries
Historically huge federal deficit spending has led to high inflation
You can protect yourself with:

  • CPI indexed lease clauses
  • Expense Increase pass-throughs
  • short term leases

10. Run Leasing Sensitivities to determine impact on Cash Flow, Debt Coverage, Present Value, Future Value
A. Leasing terms favorable to tenant should result in faster Lease-up

  • Lower effective rent (Start Rate and Rent Steps)
  • Shorter Lease Term (e.g. 3 Years)
  • Higher concessions (TI and Free Rent)
  • Lower Downtime assumption
  • Higher Renewal Probability

B. Leasing terms LESS favorable to tenant should result in slower Lease-up

  • Higher effective rent (Start Rate and Rent Steps)
  • Longer Lease Term (e.g. 5+ Years)
  • Lower concessions (TI and Free Rent)
  • Higher Downtime assumption
  • Lower Renewal Probability