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Apolis

Deal: Sample site: Aspen Court Apartments

Sample site: Aspen Court Apartments

Sample

Lowry Hill East (the Wedge). Underwriting lives in the listing builder; the deal page publishes from it when the debt signs.

Open the underwriting

A sample deal in the live format. Notes, documents and changes are sample records.

Stage
Raising
By right
Gate due
Dec 2026
Construction term sheet countersigned, Sponsor
Days in stage
12
Updated Nov 6
Units
118
Ground-up
Total cost · estimated
$33.8M

Timeline

By right, 14 months from site control to close. Current phase: Financing and closing.

  1. 1. Site control2 mo

    Complete
    Gate
    Purchase agreement executed, diligence period open
    Owner
    Counsel

  2. 2. Feasibility2 mo

    Complete
    Gate
    Untrended yield on cost clears the screen
    Owner
    Sponsor

  3. 3. Design to permit set5 mo

    Complete
    Gate
    Building permit application filed
    Owner
    Architect

  4. 4. Permitting3 mo

    Complete
    Gate
    Building permit issued
    Owner
    City

  5. 5. Financing and closing2 mo

    Current phase
    Gate
    Loan and equity close the same day as land
    Owner
    Sponsor

Today's zoning carries the count. The city is a plan reviewer, not a vote. Months are the phase's illustrative default.

Tasks for Raising

0 of 7 closed. Stage entered Oct 26. Sample team.

  • Loan request packageDue Nov 9

    Capital

  • GC award and GMP contractDue Nov 16

    Construction managerGates the stage

  • Loan commitmentDue Nov 20

    CapitalGates the stage

  • Signed term sheetDue Dec 10

    CapitalGates the stage

  • Equity raise committedDue Jan 24

    CapitalGates the stage

  • AppraisalDue Dec 25

    Analyst

  • Closing checklist completeDue Feb 13

    LegalGates the stage

Gate review: leaving Raising

0 of 2 partners have decided. Moving forward without approval shows a warning. Sample partners. Decisions are never edited; a change is a new entry.

  • Sample Dana OrtizPendingNot yet decided
  • Sample Marcus LeePendingNot yet decided

Record decision

Decision

Name
Sample site: Aspen Court Apartments
Stage
Raising
Units
118
Strategy
Ground-up
Zoning path
By right
Estimated total development cost
$33,800,000
Waiting on
Construction term sheet countersigned
Gate due
Dec 2026
Gate owner
Sponsor
Days in stage
12
Note
Underwriting lives in the listing builder; the deal page publishes from it when the debt signs.
Working surface
Open the underwriting
Location
Lowry Hill East (the Wedge) (neighborhood centroid 44.955, -93.293)