Lease-Up and Stabilization Pro Forma☆

Models the months between first delivery and stabilization — leasing pace, concessions, the operating shortfall and interest carry — and tests whether the permanent loan or sale at the end actually repays the construction or bridge loan.

What it does

• Builds the absorption curve from evidence and pre-leases, not a straight line
• Shows face rent and net effective rent, and carries concessions until they burn off
• Sizes the month-by-month shortfall and the peak cash call, without double-counting construction interest
• Reports breakeven, physical stabilization and economic stabilization as separate dates
• Sizes the takeout on every test, computes the payoff gap, and stresses slower leasing, deeper concessions and higher rates

When to use it

• Underwriting a construction or bridge loan's exit
• Leasing is behind plan and the reserve is draining
• A maturity or extension test is approaching
• A takeout lender asks for the stabilization case

What to have ready

• The delivery schedule and unit mix or space plan
• Pre-leases, market rent, concession and absorption evidence
• Lease-up operating expenses
• Construction loan terms and takeout assumptions

How to use it

1. Download it with the button above. You'll sign in with a work email — that's how the creator knows who is using their skill.
2. Copy the install prompt from the "Run it in Claude" box, and paste it into Claude along with the file. Claude installs the skill, fills in your firm's details where the file has [BRACKETED] placeholders, and runs a quick test with you.
3. Then just ask in plain English. Claude picks the skill up on its own when a request matches it. Anything it still needs, it asks you for — it won't invent a number.

"Model lease-up for [PROJECT], a [NUMBER]-unit building delivering [MONTH YEAR]. Does it stabilize before our loan matures, and does the refinance pay us off?"

What you get back

A monthly lease-up schedule, milestone dates, shortfall and carry table, stabilized NOI and takeout sizing with the payoff gap, and a sensitivity table.

Good to know

• Output quality tracks input quality. A missing figure is flagged as missing — it is never estimated to fill a gap.
• Every draft is a starting point for your own review, not a finished decision.
• Runs anywhere Claude does: the Claude app, Claude Desktop, or Claude Code.
• Absorption, rent, concession and cap rate figures cited by the author are dated and must be replaced with current submarket evidence. Agency and HUD program terms mentioned are for reference; confirm current terms with the lender.

Source & credit

Imported from Avi Hacker's open-source cre-agent-skills library (Apache-2.0). Author: Avi Hacker, J.D. (The AI Consulting Network) — https://github.com/ahacker-1/cre-agent-skills. LenderSkills added front matter so Claude can recognize the skill; it also appended a legal disclaimer, and the package header lists every change. The author's content is otherwise unmodified. Full credit to the author. Avi Hacker did not submit this listing and does not endorse it — the original is free at the link above.

Legal disclaimer

This skill drafts; it does not decide. Its output is not legal, tax, accounting, appraisal, or investment advice, and using it creates no attorney-client, fiduciary, or advisory relationship. Nothing it produces is a commitment to lend or an offer to sell a security. Verify every number, date, citation, and conclusion against the source documents, and have a qualified professional licensed in the relevant jurisdiction review the work before you rely on it or send it to a borrower, investor, counterparty, or regulator. Laws, rates, and market data change. The final work product is yours.