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Real Estate Financial Modeling Accelerator (Updated Sept 2020)

Since starting A.CRE, Michael and I have fielded email after email requesting a more structured real estate financial modeling training program on the site. Over the years, we've covered hundreds of real estate modeling topics in our blog,…
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Book Review: The Big Short

Why I liked “The Big Short” Having first watched The Big Short (the film) I was curious to explore the book in search of any insights I may have initially missed. The book did not disappoint and provided an easy-to-read narrative which…
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Haas School of Business – University of California, Berkeley – MBA Real Estate Profile

Haas has a fantastic Real Estate curriculum with a tight knit community, exceptional faculty, and great extracurricular programming. When I started at Haas I knew I wanted to commit myself to real estate, so I tried to take advantage of…
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The A.CRE MBA Real Estate Series

Spencer and I are excited to introduce the A.CRE MBA Real Estate Profile series. This series is intended to provide prospective MBA students with a glimpse into some of the world's top MBA real estate programs and what they have to offer those…
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Build Your Future: Considerations for an MBA Real Estate Program

Real estate is one of the largest, most complex, and influential facets of any economy. Whether you're considering a career in real estate banking, investing, development, or management, you'll need an understanding of the unique economics at…
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Book Review: The Liar’s Ball

Why I liked “The Liar’s Ball” Although the book was slightly gossipy in places, I found it did a great job of detailing the fascinating history of the GM (General Motors) Building, really giving the reader a behind the scenes look into…
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The A.CRE Method for Doing Cap Rate Math in Your Head

In this post, I'd like to share a method, that with a little practice, will enable you to quickly do cap rate math in your head; whether it’s quickly figuring out what the sale or purchase price would be of a property based on the NOI and…
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Book Review: The Real Estate Game

Why I Liked Poorvu's, The Real Estate Game Whilst certain real estate technocrats may argue this book is overly simplistic, I politely disagree. I thoroughly enjoyed revisiting some of the more basic real estate fundamentals explored in the…
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Graduate Real Estate Series: USC’s Dollinger Master of Real Estate Development

The Dollinger Master of Real Estate Development program at The University of Southern California is an intense, one-year graduate real estate program that exposes students to many broad areas of commercial real estate. The USC Dollinger…
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Graduate Real Estate Series: Johns Hopkin’s MS in Real Estate and Infrastructure

The Johns Hopkins Carey Business School MS in Real Estate and Infrastructure program has been a leader in real estate education for over 27 years. Distinguished by it's location in the Carey Business School, the MS in Real Estate and Infrastructure…
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Construction Draw Schedule: Accounting For True LTC

When lenders provide debt for a development project, they lend based on a Loan-to-Cost ratio (LTC), which is simply the percent of the total budget the lender will agree to lend to the borrower. So, if a project costs $10MM, and a lender loans…
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Graduate Real Estate Series: NYU Schack Institute of Real Estate’s MSRE and MSRED Programs

The Schack Institute of Real Estate at New York University offers a flexible, 42-credit graduate real estate education in various real estate disciplines including finance and development. Located in the epicenter of global real estate, New…
a shopping center with robust sales and low occupancy cost
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Tenant Sales and Occupancy Cost in Retail Underwriting

When underwriting a retail investment, rollover risk is an incredibly important consideration. You, as a prospective debt or equity investor in the property, need to understand how secure the cash flows you're buying are; or in other words,…
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Calculate Residual Land Value in Excel

Here's the scenario. You're a real estate developer. You spot a prime parcel of land that would be perfect for your real estate project. So you approach the owner of the land about selling and she says, "Okay, bring me an offer." How much do…
a group of real estate professionals at a networking event
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The State of Real Estate Crowdfunding

Following the housing crash of 2007 - as regulations were introduced and credit tightened - emerging companies were left with little or no access to the capital markets. In an effort to ameliorate the credit crunch, Congress drew up the Jumpstart…
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San Francisco Development Explosion! – Interactive Map & Side Project

San Francisco's downtown area is currently going through an unprecedented, skyline redefining transformation. So many incredible developers and architects are in the process of leaving their mark on this city and it's all happening or will…