This would have been easier a few years ago. Most lenders are headed away from "Pre-Leased" Pro-Forma income and sticking with historical data, sales comp or construction cost for values. A big problem with your scenario is you can't lease what you don't own or represent. I would take a look at absorption rates in the area also to see if a 90 day lease up is even possible. I have doubts that Allen, Texas is that hot of a retail market right now. In order to make it happen a lender would want leases with national clients occupying the center. Good luck with your efforts, unfortunately these are the cards we a dealt in 2011.
Jun 6, 2011