Real Estate Financial Modeling Tools

Mixed-Use Condominium Building Development Financial Modeling Self-Study Video Tutorial with Excel File

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Sample Content


SKU: SKU-359 Categories: ,

An interactive Video Tutorial that teaches you how to efficiently model the ground-up development of a for-sale residential condominium building with ground-floor retail and for-sale parking. Includes fully-assembled, fully-unlocked Excel file with 12 hands-on Tutorial exercises and accompanying solutions.

Product includes the following items, which never expire:

 Online access to an easily navigated 65-minute Video Tutorial, playable on any device including PC, Mac, phones and tablets

SelfStudy750pxwide

 Accompanying fully-unlocked Excel file, which you can repurpose and customize for future analyses.

Excel file includes the following tabs:

  • Profile, Lot and Building Information
  • Stacking Plan
  • Sources and Uses Overview
  • Cost Inputs & Capital Structure
  • Sources and Uses – Exercise
  • Sources and Uses – Solution
  • Construction Bell-Shaped Curve
  • Unit Mix and Pricing – Exercise
  • Unit Mix and Pricing – Solution
  • Cash Flow Overview
  • Cash Flows – Exercise
  • Cash Flows – Solution

What You Will Learn

A mastery of Excel-based technical financial projection modeling skills for the projection modeling of a mixed-use residential condominium building with ground-floor retail and income-producing parking. A strong emphasis is placed on leveraging the power of conditional (“If, Then”) statement formulas.

Topics covered include the modeling of:

  • Site and building profile for above- and below-grade project elements
  • Uses and Sources of Funds without creating potentially dangerous circular references
  • Dynamic land purchase closing
  • Dynamic base building hard costs allocation from a bell-shaped curve lookup table
  • Modeling multiple retail tenants
  • Three equity sources, mezzanine loan, and senior construction loan
  • Weighted average unit pricing for Market, Pre-Sales and Affordable units
  • Optimizing unit sizes to consume all available FAR
  • Dynamic unit absorption for pre-sales and regular sales
  • Sale of retail condominium unit

Video Tutorial Contents

  • Introduction
  • Profile, Lot & Building Information (7 mins)
  • Stacking Plan (1 min)
  • Sources & Uses Overview (2 mins)
  • Cost Inputs & Capital Structure (Section)
  • Circular References (2.5 min)
  • Stating Equity and Mezzanine Dollar Amounts (1 min)
  • Sources & Uses Exercise Tab (Section)
  • Control Panel & Analysis Timeline (1 min)
  • Certificate of Occupancy (C of O) (1.5 min)
  • Retail Component Timing (40 sec)
  • Dynamic Timeline (40 sec)
  • Elapsed Month # (5 sec)
  • Construction Month # (10 sec)
  • Construction Status (15 sec)
  • Uses of Funds (Section)
  • Basic Setup & Customization (30 sec)
  • Land & Acquisition Costs (20 sec)
  • Exercise #1 (30 sec)
  • Exercise #1 Solution (1 min)
  • Hard Costs & Contingency and VLOOKUP Function (1.5 min)
  • Construction Bell-Shape Curve Tab (3 min)
  • Retail Tenant Improvements (TIs) (1 min)
  • Exercise #2 (30 sec)
  • Exercise #2 Solution (1.5 min)
  • Soft Costs (1 min)
  • Furnishings, Fixtures & Equipment (FF&E) (1 min)
  • Subtotal Eligible Senior Loan Costs (15 sec)
  • Financing Costs Overview (20 sec)
  • Total Development Costs (20 sec)
  • Sources of Funds (Section)
  • Developer Sponsor Equity Direct Project Costs Draw (45 sec)
  • Operating & Financing Deficits (30 sec)
  • Developer Partner Equity Priority (10 sec)
  • Developer Partner Equity Direct Project Costs Draw (40 sec)
  • Third Party Investor Equity Priority (10 sec)
  • Third Party Investor Direct Project Costs Draw (30 sec)
  • Total Equity Investment (5 sec)
  • Mezzanine Loan Overview (10 sec)
  • Mezzanine Loan Direct Project Costs Draw (20 sec)
  • Mezzanine Loan Origination Costs (10 sec)
  • Mezzanine Loan Cash Interest Payments (10 sec
  • Mezzanine Loan Repayment (1 min)
  • Mezzanine Loan End of Period Balance (10 sec)
  • Senior Loan Overview (5 sec)
  • Senior Loan Direct Project Costs Draw (1.5 min)
  • Senior Loan Fees (10 sec)
  • Senior Loan Funded Interest Reserve and Cash Interest Payments (1.5 min)
  • Senior Loan Repayment (20 sec)
  • Senior Loan Ending Balance (10 sec)
  • Property Cash Flow As Source Of Funds (1.5 min)
  • Operating & Financing Deficits Combined (1 min)
  • Interest Rate Sensitivity Analysis (Section)
  • Resizing The Senior Loan With Goal Seek (2 min)
  • Creating A Macro To Run Goal Seek (3 min)
  • Exercise #3
  • Exercise #3 Solution
  • Unit Mix and Pricing Exercise Tab (Section)
  • Exercises #4, 5, 6, 7 (30 sec)
  • Exercises #4, 5, 6, 7 Solutions (1.5 min)
  • Cash Flow Overview Tab (40 sec)
  • Cash Flows Exercise Tab (Section)
  • Cash Flow Assumptions (40 sec)
  • Pre-Sales (20 sec)
  • Regular Market Rate Units (20 sec)
  • Affordable Units (20 sec)
  • Exercise #8 (45 sec)
  • Exercise #8 Solution (2.5 min)
  • Parking and Storage Sales (15 sec)
  • Revenues Overview (20 sec)
  • Exercise #9 (20 sec)
  • Exercise #9 Solution (20 sec)
  • Retail Net Operating Income (NOI) (20 sec)
  • Gross Revenue & Selling Costs (10 sec)
  • Net Revenues (10 sec)
  • Operating Expenses & Real Estate Taxes (30 sec)
  • Exercise #10 (5 sec)
  • Exercise #10 Solution (1.5 min)
  • Exercise #11 (10 sec)
  • Exercise #11 Solution (1 min)
  • Net Revenue After Expenses and Retail Condominium Sale Before Financing Costs (15 sec)
  • Unlevered Cash Flow (45 sec)
  • Net Revenue Before Retail Sale After Financing Costs (15 sec)
  • Exercise #12 (15 sec)
  • Exercise #12 Solution (20 sec)
  • Net Revenue After Retail Sale After Financing Costs (10 sec)
  • Levered Cash Flow (45 sec)
  • The Transaction Story Revisited (40 sec)
  • Net Levered Cash Flow (Pre-Income Tax Profit) (10 sec)
  • Investment Performance Metrics (10 sec)

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