Real Estate Financial Modeling Tools

Professional Version: Mixed-Use Apartment/Multi-Family Building Acquisition and Individual Unit Renovation Pro-Forma Template



Academic / U.S. Military Price

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SKU: 82 Category:

An Excel-based spreadsheet analysis tool for the acquisition of an existing apartment/multi-family rental building with or without retail and income-producing parking components. Allows for modeling of the renovation of individual apartment units while continuing to operate the building, identifying and highlighting the income generation and cost savings resulting from the individual unit improvement program.

A blended average approach is used to simulate the income and expense profiles of both pre- and post-renovated unit states. In other words, while there is a rent roll input tab, the model does not key off of specific unit rollovers and renovations — it approximates the unknown sequencing of the unit rollovers using an average unit renovation budget and the aforementioned blended average income and expense values.

The model is monthly in nature, and it is a 100% unlocked Excel file with fully transparent formulas that can be further tailored to suit the particulars of your transactions.

User-Friendly Features

  • Compatible with both PC and Mac
  • Includes instructions for use, with detailed annotations tied to select cells
  • Two-page assumptions input and reporting screen optimized for dashboard-style viewing
  • Persistent calculation checks and data validation protections to prevent faulty inputs
  • Hyperlink navigation enables fast, intuitive access to all tabs
  • Institutional-quality print-ready reporting tabs that are brandable to your company

Functional Highlights

The model supports the following:

  • Differentiation between fair market and any affordable/rent-controlled units with respect to rent growth, operating expenses, and unit renovation schedules and budgets
  • Quick inputting of the apartment unit mix only instead of the entire rent roll, as well as full rent roll inputting with tagging of units as renovated vs. unrenovated and fair-market vs. rent-controlled
  • Unit batch, or unit-by-unit renovation of the apartments modeled on a monthly basis, with post-renovation rent bump, and with or without post-renovation operating and maintenance savings
  • Conversion of any affordable/rent-controlled units to fair market, on a monthly basis, including tenant buyout cases
  • Two layers of acquisition financing (both senior and mezzanine amortizing or interest-only, or amortizing with an interest-only period), and a subsequent refinancing through an amortizing permanent loan with or without an interest-only period
  • Up to three joint venture equity partnership players, and up to two 5-tier IRR-based waterfalls (capable of supporting a double-promote structure for the Sponsor)

Model Tabs

0     Model Overview and Instructions
1     Back of the Envelope Model
2     Rent Roll Inputs
3     Assumptions Inputs
4     Capital Structure Exhibit
5     Master Retail Leasing Exhibit
6     Retail Tenant 1 Inputs
7     Retail Tenant 2 Inputs
8     Retail Tenant 3 Inputs
9     Retail Tenant 4 Inputs
10   Retail Tenant 5 Inputs
11   Monthly Cash Flow Inputs
12   Annual Cash Flow Inputs
13   Renovation Timing Exhibit
14   Joint Venture Partnership Structure Exhibit
15   Monthly IRR Waterfall #1 Exhibit
16   Monthly IRR Waterfall #2 Exhibit
17   Sensitivity Tables Exhibit
18   Stabilized Pro Forma Executive Summary Exhibit
19   Joint Venture Partnership Returns Summary – 3 Players Exhibit
20   Joint Venture Partnership Returns Summary – 2 Players Exhibit
21   Senior Acquisition Loan Monthly Amortization Schedule Exhibit
22   Mezzanine Acquisition Loan Monthly Amortization Schedule Exhibit
23   Permanent Loan Monthly Amortization Schedule Exhibit
24   Retail TI and LC Amortization Exhibit

Model Timeline

11 years (expandable)


Print-ready, brandable reports are included in the model. See the Sample Reports link above.

License Type And Multiple-User Pricing

Licenses are sold on a per-user basis
Multi-user pricing quotes are available here

Included With Purchase

  • Blank template (inputs are all set to zero) and a version of the template with a sample deal loaded in
  • Standard version of the template for crisp presentation of less complex deals
  • 1 year of online ticket-based support

SPECIAL BONUS included with purchase ($179 value)

Equity Joint Venture Partnership and Waterfall Modeling Video Tutorial

Learn the detailed mechanics of the waterfall structure in the template, and more.

Includes the following items, which never expire:

 Online access to an easily navigated 80-minute Video Tutorial, playable on any device including PC, Mac, phones and tablets

 PDF of the 60-slide presentation

 Accompanying fully-unlocked, annotated Excel file, compatible with both PC and Mac, with the following tabs:

  1. Preferred Return Non-Compounded Annual
  2. Preferred Return Non-Compounded Annual Solution
  3. Preferred Return Compounded Monthly
  4. Preferred Return Compounded Monthly Solution
  5. 3-Tier Annual Waterfall with Look-Back
  6. Double-Promote Profit Sharing
  7. Double-Promote Monthly Waterfall # 1 with Look-Back
  8. Exercise – Rebuild Tier #3
  9. Double-Promote Monthly Waterfall #2 with Look-Back
  10. Double Promote Returns Summary Exhibit
  11. Alternate Compounding Periods
  12. Sample Partnership Structure 1
  13. Sample Partnership Structure 2
  14. Sample Partnership Structure 3
  15. Claw-Back.
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Support Level

Standard Support, Priority Support

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