A few years ago, I recorded my screen as I built a 3-tier real estate equity waterfall model. What I didn’t mention in that Watch Me Build video, is that the kind of waterfall I built is colloquially called a European-style equity waterfall. And while that type of waterfall is extremely common, both in the […]
At A.CRE, we’ve built dozens of custom GPTs for internal and external purposes. Some of the GPTs have general application, while others are custom GPTs specifically for commercial real estate. One such CRE-specific GPT that we recently built and that I’m particularly excited to share today is our first real estate analyst GPT: our Advanced […]
Microsoft Excel is the primary tool used by real estate financial modeling professionals. Even while numerous non-Excel alternatives have attempted to de-throne Excel, the 35+ year-old software has shown to be surprisingly resilient to competition. And thus, if you intend to work in real estate you must be proficient in Excel. So what does it […]
Consider this scenario: you have a 50 tenant rent roll, consisting of various tenant types (i.e. small inline, large inline, junior anchor, anchor, etc.), and you want to calculate the weighted average rent for each tenant type. If I asked you, what is the fastest and cleanest way to do this in Excel, what would […]
So you’ve made it past the HR screening interview. You have the education and experience the company is looking for, but now they want to be sure you possess the real estate financial modeling skills necessary to do the job. They’ve asked you to take part in a multi-hour real estate technical interview. In that interview, they’ll […]
In this Watch Me Build session, I’ll walk you through constructing a custom GPT that near-instantly sifts through Industrial Offering Memorandums to pinpoint whether an investment aligns with your criteria. At the heart of this build is a tailored GPT setup that efficiently processes and analyzes complex data sets found in these OMs. Custom GPTs […]
I’m excited to share my Retail Development Model in Excel. This pro forma analysis tool comes as I’ve continued to build and share specialty real estate models, tailor-made for specific investment scenarios and property types. This model is an adaptation of my Office Development Model and Industrial Development Model. It’s specifically built to analyze both […]
I’m excited to share my Office Development Model in Excel. This pro forma analysis tool comes as I’ve continued to build and share specialty real estate models, tailor-made for specific investment scenarios and property types. This model is an adaptation of my Industrial Development Model. It’s specifically built to analyze both merchant-build and build-to-core, ground-up […]
Over the years, I’ve received various requests to augment our library of real estate Excel models to include a model for underwriting and analyzing commercial mortgage loans. Specifically, people have asked for a tool to calculate the loan amount (ie. loan sizing) based on a combination of tests – debt service coverage ratio, loan-to-value, and […]
I originally uploaded this equity/construction loan draw and interest calculation tool to our library of real estate financial analysis models in 2016. Over the years, I’ve continued to update it as suggestions, comments, and requests flowed in from our readers. The model is meant to be used to forecast construction budget cash flows (uses), and then model […]
An important component in any acquisition, development, and value-add model is the Sources and Uses of Capital section. Of course, how the sources and uses are modeled and how those cash flows are visualized will vary from one model to the next. But no model is complete without an accurate estimation of the sources and […]
We’ve received numerous requests over the years for a Self Storage Development Model in Excel. With strong investment and development activity in this niche property type, I recognize a self storage model on A.CRE is long overdue. But with so many other projects on our plates and limited experience with self storage, we just hadn’t […]
As many of you know, I started my career in residential land development first as a broker and later as a principal. During that time I built my fair share of residential land development Excel pro formas, modeling returns and forecasting cash flows for my clients and investor partners. I’ve since transitioned into the institutional side […]
We often field questions about how to model property tax abatements. It’s a concept we cover in our the ‘Advanced Modeling – Property and Portfolio’ endorsement in our Accelerator real estate financial modeling training program and something that has come up several times in our Accelerator Q&A. So, I thought it worthwhile to write a […]
I’m often asked to share models centered around residential development and home building. This is an area of real estate I’m completely comfortable in, since I spent the first 10 years of my career in new residential development. Not surprisingly, I’ve assembled a decent size library of Excel pro formas for land developers and home […]