# Offering Memorandum Template (Markdown)

Free Offering Memorandum structure from IntellCRE (intellcre.com/models/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:** [Document title: Offering Memorandum]; [Highlight line]; [Property name]; [Address]; [Additional line]
- **Presented By:** [Brokerage name, logo, contact details]; [Confidentiality and disclaimer: insert counsel-approved language]
- **Table of Contents:** Generated from the pages below.

## 2. The Asset

- **Executive Summary:** [Price estimate]; property data; return metrics: Current cap rate, Proforma cap rate, Stabilized cap rate, GRM, Cash on cash, YoC, IRR, Equity multiple, ROE, ROI. Include only metrics the facts support.
- **Property Overview:** [Description of the property, site, building, amenities, recent improvements]
- **Photos:** [Photo list with captions]
- **Area:** [Description of the surrounding area and access]
- **Points of Interest:** [Map and list of nearby points of interest with distances]
- **Area Photos:** [Photo list with captions]

## 3. Financials

- **Unit Mix Summary:** [Unit or space type, count, size, current and market rent]
- **Rent Roll:** Columns: Unit #, # of units, Unit type, Dimensions, SF, Current rent (per SF, annually), Lease to, Year 1 rent (per SF, annually), Pre-reno rent, Proforma rent (per SF, annually), Note
- **Income and Expenses:** [Current and proforma income and expense lines, NOI]
- **Income and Expense Chart:** [Chart of income and expense categories]
- **Operating Projections:** [Year-by-year projections, labeled as projections]
- **Financing:** [Loan terms and DCR, if financing is shown]
- **Equity Waterfall:** [Optional: only if a waterfall is part of the offering]
- **Value Scenarios:** [Scenarios and resulting values and returns, with DCR]
- **Sensitivity Analysis:** [Sensitivity table, for example cap rate vs. price]
- **Assumptions:** [Hold term, exit cap rate, working capital, closing costs (acquisition and sale), acquisition fee, total cash to close, acquisition date, total acquisition costs]

## 4. Sale Comparables

- **Sale Comps Map:** [Map of the selected sale comps with the subject]
- **Sale Comps Summary:** Columns: Built/Renovated, Units, Sale price, Price per unit, Rentable area, Price per area, Avg area, Cap rate, Gross rent multiplier, Percentage difference, Averages row, Subject row
- **Sale Comps Chart:** [Charts: price per unit, price per area, cap rate, gross rent multiplier]
- **Sale Comps Detailed:** Per comp: Built/Renovated, Units, Rentable area, Price per area, Price per unit, Sale price, Sale date, Lot size, Cap rate, Gross rent multiplier, Unit type

## 5. Rent Comparables

- **Rent Comps Map:** [Map of the selected rent comps with the subject]
- **Rent Comps Summary:** [Rent comp summary table with the subject row]
- **Rent Comps Detailed:** [Per comp detail]
- **Rent Comps Sort:** [Comps sorted by rent]

## 6. Market Overview

- **City Overview:** [City description with source]
- **Demographics:** [Population, households, income; source and date]
- **Employers:** [Largest employers; source]
- **Employment:** [Employment by sector or trend; source and date]

## 7. Tenants Overview

> Only when tenant profiles exist.

- **Tenants:** [Tenant profiles and rent schedules]

## 8. Advisory Bios

- **Advisory Bio:** [Name, title, short bio, contact, license number for each advisor]

## 9. Outro

- **Contact Us:** [Main line]; [Secondary line]; advisor headshots and contacts; [Message line]; [Office address]

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## Drafting rules

- Follow the section and page order below exactly. Skip a page only if the user has no data for it, and say which pages you skipped.
- Use only facts the user supplied. Never invent property data, tenants, statistics, comps, testimonials 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; if none was given, mark it [TBD: source and date].
- Show arithmetic for any figure you derive (NOI, price per unit, cap rate) and flag it as calculated.
- Write in plain, factual US English. Avoid unsupported superlatives such as best, unmatched or irreplaceable.
- For residential property, avoid language that describes or prefers a type of tenant or neighborhood demographic.
- On Presented By, leave the confidentiality and disclaimer text as [Insert the brokerage's counsel-approved language]. Do not write legal text.
- Keep the broker's brand out of the structure; the broker adds logo and colors.