{
  "dealId": "demo-pass-001",
  "dealName": "Riverside Gardens",
  "expectedVerdict": "PASS",
  "property": {
    "address": "2850 Riverside Parkway",
    "city": "San Antonio",
    "state": "TX",
    "zip": "78209",
    "county": "Bexar",
    "propertyType": "multifamily",
    "yearBuilt": 2018,
    "totalUnits": 150,
    "totalSqFt": 142500,
    "avgUnitSqFt": 950,
    "stories": 4,
    "buildings": 3,
    "parking": { "type": "garage", "spaces": 225 },
    "amenities": ["pool", "fitness center", "clubhouse", "business center", "dog park", "rooftop deck", "package lockers", "EV charging"],
    "unitMix": {
      "types": [
        { "type": "Studio", "count": 20, "avgSqFt": 550, "marketRent": 1200, "inPlaceRent": 1175 },
        { "type": "1BR/1BA", "count": 60, "avgSqFt": 750, "marketRent": 1450, "inPlaceRent": 1425 },
        { "type": "2BR/2BA", "count": 55, "avgSqFt": 1100, "marketRent": 1850, "inPlaceRent": 1825 },
        { "type": "3BR/2BA", "count": 15, "avgSqFt": 1350, "marketRent": 2300, "inPlaceRent": 2275 }
      ]
    }
  },
  "financials": {
    "askingPrice": 28000000,
    "pricePerUnit": 186667,
    "currentNOI": 1850000,
    "proFormaNOI": 1920000,
    "inPlaceOccupancy": 0.96,
    "marketOccupancy": 0.95,
    "trailingT12Revenue": 3100000,
    "trailingT12Expenses": 1250000,
    "capExBudget": 150000,
    "renovationBudget": 0,
    "estimatedClosingCosts": 420000
  },
  "financing": {
    "targetLTV": 0.70,
    "estimatedRate": 0.0575,
    "loanTerm": 10,
    "amortization": 30,
    "loanType": "Agency",
    "interestOnly": false,
    "ioPeriod": 0
  },
  "investmentStrategy": "core",
  "targetHoldPeriod": 7,
  "targetIRR": 0.10,
  "targetEquityMultiple": 1.6,
  "targetCashOnCash": 0.07,
  "seller": {
    "name": "Riverside Development Group",
    "entity": "Texas Limited Partnership",
    "broker": "Michael Chen",
    "brokerFirm": "Meridian Advisors",
    "motivations": ["fund maturity", "return of capital to LPs"]
  },
  "timeline": {
    "loiDate": "2026-01-10",
    "psaExecutionDate": "2026-01-20",
    "ddStartDate": "2026-01-21",
    "ddExpirationDate": "2026-02-20",
    "financingCommitmentDeadline": "2026-03-05",
    "closingDate": "2026-03-20",
    "extensionOptions": ["10 days with $25,000 hard deposit"]
  },
  "notes": "Stabilized core asset. Built in 2018 with modern finishes. Strong submarket fundamentals with 3.5% rent growth over last 12 months. Institutional-quality construction and amenities. Minimal deferred maintenance. In-place rents are at market - limited loss-to-lease. Clean title, no known environmental issues. This is a straightforward acquisition with strong fundamentals."
}
