Advanced Real Estate Financial Modelling and Investment Analysis using Excel

Module 1: Excel Best Practices and Real Estate Fundamentals

ü  Advanced Excel shortcuts for rapid modelling

ü  Data validation and naming conventions for professional spreadsheets

ü  Understanding the time value of money (TVM) in property

ü  Differentiating between Property Level and Investor Level returns

ü  Practical Session: Setting up a dynamic "Global Settings" tab to drive the entire model

Module 2: The Real Estate Investment Analysis Module Breakdown: Core Inputs

ü  Constructing the "Sources and Uses" table

ü  Setting up acquisition price and closing cost variables

ü  Modelling unit mix and gross potential rent (GPR)

ü  Integrating market growth assumptions and inflation

ü  Practical Session: Building a dynamic acquisition input sheet with automated unit mix calculations

Module 3: Forecasting Operating Cash Flows and NOI

ü  Modelling vacancy, credit loss, and concessions

ü  Categorizing operating expenses: Fixed vs. Variable

ü  The Net Operating Income (NOI) calculation methodology

ü  Handling "Below the Line" vs. "Above the Line" items

ü  Practical Session: Constructing a 120-month operating cash flow statement

Module 4: Real Estate Investments Fundamentals Analysis: Capital Expenditures

ü  Modelling recurring vs. non-recurring CapEx

ü  Tenant Improvements (TI) and Leasing Commissions (LC) schedules

ü  Building a renovation/value-add budget timeline

ü  Reserves for replacement and their impact on cash-flow

ü  Practical Session: Building a TI/LC schedule that triggers based on lease expiry dates

Module 5: Debt Structures and Leveraged Analysis Modelling

ü  Modelling Senior Debt: Interest-only vs. Amortizing loans

ü  Debt Service Coverage Ratio (DSCR) and Loan-to-Value (LTV) constraints

ü  Handling loan origination fees and exit fees

ü  Mezzanine and Bridge loan integration

ü  Practical Session: Practical Session: Building a dynamic debt schedule with an automated "sweep" feature

Module 6: Advanced Valuation: Terminal Value and Exit Strategies

ü  Calculating the exit price using the Terminal Cap Rate

ü  Modelling "Costs of Sale" and net sales proceeds

ü  Hold period optimization analysis

ü  The impact of the "Reversion" on total project returns

ü  Practical Session: Creating an automated exit valuation summary based on varying hold periods

Module 7: Real Estate Investments Fundamentals Analyzing: Returns Metrics

ü  Unleveraged vs. Leveraged IRR (Internal Rate of Return)

ü  NPV (Net Present Value) and the Discount Rate selection

ü  Equity Multiple and Cash-on-Cash yield calculations

ü  The "Peak Equity" requirement analysis

ü  Practical Session: Constructing a professional "Returns Dashboard" with automated charts

Module 8: Sensitivity and Scenario Analysis Training

ü  Building 2-way Data Tables for Cap Rate vs. Rent Growth

ü  Creating "Toggle" buttons for Base, Upside, and Downside scenarios

ü  Stress-testing the DSCR for lender compliance

ü  Breakeven occupancy analysis

ü  Practical Session: Setting up a scenario manager to switch between three different market outlooks

Module 9: Equity Waterfalls and Joint Venture (JV) Structuring

ü  The logic of "Promotes" and "Hurdles"

ü  Modelling a 2-tier and 3-tier waterfall structure

ü  Catch-up clauses and Clawback provisions

ü  The GP/LP profit split dynamics

ü  Practical Session: Practical Session: Building an IRR-based waterfall model to calculate the Sponsor's promote

Module 10: Model Auditing, Presentation, and Capstone Project

ü  Using "Trace Precedents" and "Trace Dependents" to audit models

ü  Checking for circular references and "Hard-coding" errors

ü  Formatting models for Investment Committee presentations

ü  Final Capstone Project: Modelling a complex value-add acquisition

ü  Practical Session: Presenting the final model to the group for peer-review and "stress-testing"

About Our Trainers

Our trainers are industry veterans with over 15 years of experience in real estate private equity, investment banking, and financial consulting. They have successfully modeled and advised on property transactions exceeding USD 2 Billion across global markets. Each trainer is a certified Excel Expert and holds a professional background in delivering technical training analysis for institutional clients.

Quality Statement

Phoenix Center for Policy, Research and Training is dedicated to providing the highest caliber of technical instruction. Our real estate investment analysis course is continuously updated to reflect the latest market benchmarks and Excel functionalities. We ensure a low trainer-to-participant ratio to provide personalized feedback on all financial models built during the course.

Tailor-Made Courses

We understand that every organization has unique challenges and opportunities as well as unique training needs. Phoenix Training Center offers tailor-made courses designed to address specific requirements and challenges faced by your team or organization. Whether you need a customized curriculum, a specific duration, or on-site delivery, we can adapt our expertise to provide a training solution that perfectly aligns with your objectives. We can customize this Course to focus on your industry, specific risk profile, or internal stakeholder dynamics. Contact us to discuss how we can create a bespoke training program that maximizes value and impact for your team. For further inquiries, please contact us on Tel: +254720272325 / +254737296202 or Email training@phoenixtrainingcenter.com

Admission Criteria

ü  Participants should be reasonably proficient in English. 

ü  Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

Terms and Conditions

ü  Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

ü  What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

ü  Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

ü  The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

ü  Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training. Or call us on +254720272325 / +254737296202

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

ü  Groups of 5 People and Above – Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.

ü  Invoice: We can send a bill directly to you or your company.

ü  Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

ü  Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

ü  Participants may cancel attendance 14 days or more prior to the training commencement date.

ü  No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Accommodation and Airport Transfer

For physical training attendees, we can assist with recommendations for accommodation near the training venue. Airport pick-up services can also be arranged upon request to ensure a smooth arrival. Please inform us of your travel details in advance if you require these services. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737296202