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Real Estate Capital Account Tracking Tool

I'll be the first to admit that real estate asset management doesn't get the attention it deserves on AdventuresinCRE.com. The real reason for this is that we're not necessarily asset management experts. I spent some time working in asset management…
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After Tax Analysis in Real Estate

When modeling real estate investments, industry practice is generally to stop at before tax cash flow. And this makes sense in most instances. No two owners of real estate have the exact same tax situation and no two properties necessarily…
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Waterfall Model For Real Estate Joint Ventures

I've just wrapped up a new waterfall model over the weekend that I am excited to share on the site. This model was built as an addition to the acquisitions model I posted a few weeks back. And like the acquisition model, I made an attempt…
Real Estate IRR Partitioning
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IRR Partitioning in Excel

In this post, I'd like to show you how to partition the internal rate of return of your real estate investment in Excel. I also throw in a quick equity multiple partition, to highlight how the time value of money affects your returns. I've recorded…
equity multiple
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Real Estate Waterfall Model - Equity Multiple Hurdles

NOTE: Since writing this post, I've combined my IRR and equity multiple waterfall models into one. While this post still describes the methodology used to model equity waterfalls based on an equity multiple promote structure, the Excel file…
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Excel Real Estate Equity Waterfall Model - Monthly Periods

When I decided to share my real estate equity waterfall model in Excel, I never imagined it would be as popular as it has. The model has been downloaded nearly a thousand times and many of you have written to extend your thanks for sharing.…
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Scenario Analysis using the Equity Waterfall Model

I received a question this morning asking how to use scenario (or sensitivity) analysis with our Real Estate Equity Waterfall Model. I started to answer the question via email, decided to build an Excel file to go along with my answer, and ultimately…
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How to Use My Real Estate Equity Waterfall Model

I took a few minutes this weekend, and created a video to help you use my real estate equity waterfall (IRR hurdle technique) model that I built in Excel. Again, keep in mind that the model is not standalone, but can be used with any of the…
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Real Estate Equity Waterfall Model - IRR Hurdles

I had some free time this weekend, so I thought I'd build a basic real estate equity waterfall model to share. The model allows for up to four tiers (IRR or equity multiple hurdles), with the first tier paying a preferred return, pari-passu,…