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Real Estate Financial Modeling Accelerator (Updated June 2026)

Before launching the Accelerator program, Michael and I received countless emails requesting a more structured, step-by-step real estate financial modeling training program. Over the years, we've covered hundreds of real estate modeling…
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NYC Office Building Brings 2nd Highest Price Ever

If there's one thing I remember from my pre-2008 days, it was seeing a lot of stories like this. Are we in bubble territory yet? SL Green Realty has agreed to buy CIM Group's 11 Madison Ave. The 29-story office tower in Manhattan,…
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Prologis to Acquire KTR Capital in JV with Norges

It was announced last week that Prologis, the world's largest industrial REIT, has agreed to buy KTR Capital Partners for $5.9 billion. KTR owns and operates 70 million square feet of real estate across the U.S. I think the deal is interesting…
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The Fourth Major Asset Class

David Funk, a professor of mine and the former director of the Baker Program in Real Estate at Cornell University, recently published some interesting research into asset reallocation by institutional investors that more heavily favors commercial…
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Hotel Value-Add Assignment Example

I built this multi-scenario , value-add hotel investment model from scratch in Excel for an assignment in one of my real estate finance courses at Cornell. Keep in mind, this model is not plug-and-chug ready. However, with a few tweaks it works…
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GE Capital to Sell RE Assets to Blackstone, Wells Fargo

GE is unwinding its financial companies, and as a consequence, is selling off its real estate assets. Blackstone and Wells Fargo have reportedly agreed to buy GE Capital's real estate assets for $23bn. This is the largest deal of its kind since…
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Blackstone to Buy 2nd Tallest Building in U.S.

At $1.3bn, The Blackstone Group is set to become the next owner of the iconic Willis Tower (formerly the Sears Tower) in Chicago, IL. The group selling the building, bought it for $841mm in 2004. A few links with deal specifics: http://www.bloomberg.com/news/articles/2015-03-16/blackstone-group-agrees-to-buy-chicago-s-willis-tower http://www.benzinga.com/trading-ideas/long-ideas/15/03/5331305/blackstones-willis-tower-purchase-set-a-record-but-is-it-a-ba http://www.chicagobusiness.com/article/20150306/NEWS12/150309828/blackstone-in-talks-to-buy-willis-tower-for-1-5-billion Frequently…
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S&P: Real Estate to Become its Own Sector

As further evidence that real estate is fast becoming the fourth major institutional asset class, S&P has announced that it will create a new sector for the industry. "S&P Dow Jones Indices, a leading provider of financial market…
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Multifamily Development Model

This is the first in a series of Excel models on adventuresincre.com Here is a basic multifamily development model that I put together. I didn't build this model from scratch, but rather pieced together several other models to arrive at…