
The Road to Stabilized NOI – Loss to Lease in Multifamily Property Underwriting (Updated Sept 2026)
The calculation of stabilized Net Operating Income for a property is synonymous with building a stabilized proforma. This modeling process starts by estimating revenues and then the expenses, which means we must adjust the anticipated revenues…

The AI.Edge Q3 2026 Build Competition Is Live!
The AI.Edge Q3 2026 Build Competition is officially open, and we want to see what you build.
Running from September 3rd through September 30th, this quarter's competition keeps the momentum going from a strong first half of 2026. Q1 and Q2…

Data Center Development Model (Updated Sept 2026)
As the built environment evolves to meet the demands of an increasingly digital world, data centers have emerged as one of the most sophisticated and capital-intensive asset classes in commercial real estate. What was once considered a niche…

An AI Skill for the A.CRE Industrial Development Model
We've been working on a project to make our library of Excel models AI-ready. The idea is straightforward: pair every A.CRE Excel model with an AI Skill, a packaged set of instructions and reference files that teaches an AI assistant how to…

Industrial Real Estate Development Model (Updated Aug 2026)
Allow me to share my Industrial Development Model in Excel. Over the past few years, I've been working to add more specialty real estate models to our library. While our All-in-One model certainly has its place, oftentimes really digging into…

Understanding the AI Tech Stack: Model, Harness, Tools, Knowledge, and Human Judgment
For the past few years, we've spent a ton of time testing dozens of AI models. Starting at gpt-3 in 2022, to most recently Grok 4.6. From closed source models like Anthropic's Opus to open weight models like Kimi or Nemotron.
As part of that…

Mixed-Use Development Model: Condo and Retail (Updated Aug 2026)
In this post, I walk you through the A.CRE Mixed Use Development Model for Condo and Retail projects. The model is basically a reworked and expanded version of the Condo Development Model, so if you are familiar with that, this should feel and…

Condominium Development Model (Updated July 2026)
After posting the construction draw module that demonstrates how to calculate the true LTC of a development loan, I decided that since we have yet to publish a condo development model, to build upon that module to create one.
This condominium…

A.CRE Hotel Valuation Model in Excel (Updated July 2026)
I am excited to introduce our new Hotel Valuation (Acquisition) Model to underwrite both stabilized and value-add hotel opportunities. This hotel pro forma is designed to allow users to do everything from a quick back of the envelope exercise…

Advanced Mortgage Amortization Module (Updated July 2026)
In recent months, I've been working on an advanced real estate investment amortization table with interest-only capability, fixed and variable interest rates, multiple interest calculation methods (i.e. 30/360, Actual/Actual, Actual/365, Actual/360),…

An AI Skill for the A.CRE Data Center Development Model
We've been working on a project to make our library of Excel models AI-ready. The idea is straightforward: pair every A.CRE Excel model with an AI Skill, a packaged set of instructions and reference files that teaches an AI assistant how to…

Short-Term Rental Acquisition Model (Updated June 2026)
In today's real estate landscape, short-term rentals (STRs) stand out as one of the most dynamic and potentially high-yield asset classes. From compact urban units serving business travelers to luxury vacation homes attracting high-net-worth…

Commercial Mortgage Loan Analysis Model (Updated June 2026)
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…

CRE Market Risk Heat Map: AI-Powered Risk Scoring in Minutes (Updated June 2026)
Picture two analysts. Same deal, same market, same deadline.
The first one opens three browser tabs: a CBRE market report from last quarter, a CoStar snapshot, and a news article about a new industrial development two miles from the…

Residential Land Development Pro Forma (Updated June 2026)
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…
