# Multifamily Offering Memorandum Template (Markdown)

Free Multifamily Offering Memorandum structure from IntellCRE (intellcre.com/models/multifamily-offering-memorandum-template/). Anything in [square brackets] is a placeholder to replace with your own facts. Nothing here is real property data.

How to use: paste this into Claude, ChatGPT, Gemini or any assistant together with your deal facts, or fill it in by hand and paste it into your own document.

Skip the typing: IntellCRE builds this from your deal documents. Try it, free to start: https://app.intellcre.com/register

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## 1. Intro

- **Cover Page:** [Property name]; [Address]
- **Presented By:** [Brokerage]; [counsel-approved disclaimer]

## 2. Executive Summary

- **Price estimate:** [$]
- **Price per unit:** [ ]
- **In-place cap rate:** [ ]
- **Proforma cap rate:** [ ]
- **Occupancy:** [ ]
- **Average in-place rent:** [ ]
- **Loss-to-lease:** [ ]
- **Unit count:** [ ]
- **Year built / renovated:** [ ]
- **Net rentable SF:** [ ]
- **Average unit size:** [ ]
- **Parking ratio:** [ ]
- **Utilities (RUBS / master-metered):** [ ]

## 3. The Asset

- **Property Overview:** [Description]
- **Photos and Area:** [Captions; area description]
- **Points of Interest:** [List with distances]

## 4. Unit Mix and Rent Roll

- **Unit type:** [ ]
- **Beds / baths:** [ ]
- **Count:** [ ]
- **Avg SF:** [ ]
- **In-place rent:** [ ]
- **Market rent:** [ ]
- **Occupied:** [ ]

## 5. Value-Add and Renovation Plan

- **Scope item:** [ ]
- **Units:** [ ]
- **Cost per unit:** [ ]
- **Rent premium:** [ ]
- **Return on cost:** [ ]
- **Timing:** [ ]

## 6. Financials

- **Income and Expenses / Development Budget:** [Current and proforma; source and period]
- **Assumptions:** Vacancy and credit loss, Rent growth, Unit turn cost, Renovation budget, Management fee, Exit cap rate

## 7. Sale Comparables

- **Sale Comps Summary:** Units, Year built, Sale price, Price per unit, Price per SF, Cap rate, GRM

## 8. Rent Comparables

- **Rent Comps Summary:** Property, Unit type, Avg SF, Rent, Rent per SF, Concessions

## 9. Market Overview

- **Submarket occupancy:** [Value; source and date]
- **Average asking rent:** [Value; source and date]
- **Rent growth (12 mo):** [Value; source and date]
- **Units under construction:** [Value; source and date]
- **Renter share of households:** [Value; source and date]
- **Median household income:** [Value; source and date]

## 10. Advisory Bios and Contact Us

- **Advisors:** [Name, title, license, contact]

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## Drafting rules

- Use only facts the user supplied. Never invent property data, tenants, statistics, comps or quotes.
- If a fact is missing, write [TBD: what is needed] in its place.
- Every market statistic needs its source and date as given by the user; otherwise mark it [TBD: source and date].
- Show arithmetic for any figure you derive and flag it as calculated.
- Write in plain, factual US English. Avoid unsupported superlatives.
- Avoid this multifamily mistake: mixing in-place and proforma rents in one column.
- Avoid this multifamily mistake: showing a renovation premium without cost and timing.
- Avoid this multifamily mistake: using language that describes or prefers a type of resident (fair housing).
- Avoid this multifamily mistake: leaving utility recovery (rubs) unexplained.
- Leave confidentiality and disclaimer text as [Insert the brokerage's counsel-approved language]; do not write legal text.
- For residential property, avoid language that describes or prefers a type of resident or neighborhood demographic.