{
  "dealId": "test-deal-001",
  "dealName": "Parkview Apartments",
  "property": {
    "address": "4200 Parkview Drive",
    "city": "Austin",
    "state": "TX",
    "zip": "78745",
    "county": "Travis",
    "propertyType": "multifamily",
    "yearBuilt": 1998,
    "totalUnits": 200,
    "totalSqFt": 180000,
    "avgUnitSqFt": 900,
    "stories": 3,
    "buildings": 8,
    "parking": { "type": "surface", "spaces": 320 },
    "amenities": ["pool", "fitness center", "clubhouse", "business center", "dog park", "playground", "laundry facility"],
    "unitMix": {
      "types": [
        { "type": "1BR/1BA", "count": 80, "avgSqFt": 725, "marketRent": 1350, "inPlaceRent": 1225 },
        { "type": "2BR/1BA", "count": 40, "avgSqFt": 900, "marketRent": 1600, "inPlaceRent": 1450 },
        { "type": "2BR/2BA", "count": 60, "avgSqFt": 1050, "marketRent": 1800, "inPlaceRent": 1650 },
        { "type": "3BR/2BA", "count": 20, "avgSqFt": 1200, "marketRent": 2100, "inPlaceRent": 1900 }
      ]
    }
  },
  "financials": {
    "askingPrice": 32000000,
    "pricePerUnit": 160000,
    "currentNOI": 1920000,
    "proFormaNOI": 2240000,
    "inPlaceOccupancy": 0.93,
    "marketOccupancy": 0.95,
    "trailingT12Revenue": 3360000,
    "trailingT12Expenses": 1440000,
    "capExBudget": 500000,
    "renovationBudget": 2000000,
    "estimatedClosingCosts": 960000
  },
  "financing": {
    "targetLTV": 0.75,
    "estimatedRate": 0.065,
    "loanTerm": 10,
    "amortization": 30,
    "loanType": "Agency",
    "interestOnly": true,
    "ioPeriod": 2
  },
  "investmentStrategy": "value-add",
  "targetHoldPeriod": 5,
  "targetIRR": 0.15,
  "targetEquityMultiple": 1.8,
  "targetCashOnCash": 0.08,
  "seller": {
    "name": "Parkview Holdings LLC",
    "entity": "Texas LLC",
    "broker": "Jane Smith",
    "brokerFirm": "Apex Capital Markets",
    "motivations": ["portfolio rebalancing", "capital recycling"]
  },
  "timeline": {
    "loiDate": "2026-01-15",
    "psaExecutionDate": "2026-01-25",
    "ddStartDate": "2026-01-26",
    "ddExpirationDate": "2026-02-25",
    "financingCommitmentDeadline": "2026-03-15",
    "closingDate": "2026-03-31",
    "extensionOptions": ["15 days with $50,000 hard deposit"]
  },
  "notes": "Value-add opportunity. Units have not been renovated since 2010. Interior renovations estimated at $10,000/unit for upgraded finishes, appliances, and flooring. Expected rent premium of $200-300/unit post-renovation."
}
