Define: Pro Forma NOI

How is Pro Forma NOI defined in a legal contract?

• Pro Forma NOI means the total anticipated income and reimbursements from prearranged leases in the coming [number] months, minus the total estimated stabilized expenses linked to the space covered by such a lease, according to the current appraisal of the property. This is determined reasonably by the lender. Seen in 3 SEC filings
• Pro Forma NOI means an annualized pro forma amount of scheduled income (rental and reimbursement) under property leases, which have been executed before the date of determination and where tenants are expected to take occupancy and commence rent payment prior to the [date]. This does not include revenues from tenants in bankruptcy. The final value is derived after deducting all operating expenses. Seen in 2 SEC filings
• Pro Forma NOI means the pro forma net operating income of a given unit, calculated by adding together the total annual rents and other payments payable under existing and approved new leases, then subtracting the projected operating expenses for the interim period. Seen in 2 SEC filings
• Pro Forma NOI means the pro forma stabilized net operating income for a property, based on the property's appraisal, but with a [number] per residential unit capital reserve subtracted. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of pro forma noi' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Pro Forma NOI means the anticipated net operating income from pre-existing and approved leases, subtracting projected operating expenses.

Relevant Contract Types

• Commercial Lease Contracts
• Rental Agreements
• Property Management Contracts

Relevant Circumstances

• During the negotiation or renewal of lease agreements
• When developing financial forecasts for a property-based business
• In the process of property appraisal for loan purposes

Relevant Sectors

• Real Estate
• Property Management

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Genie Definition 2

• Pro Forma NOI means estimated income less any related stabilized expenses, based on property appraisal, excluding capital reserve.

Relevant Contract Types

• Income Property Loans
• Commercial Mortgage Contracts

Relevant Circumstances

• Evaluation of income-generating properties for lending purposes
• When making investment decisions in real estate

Relevant Sectors

• Real Estate Investment
• Banking and Finance

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