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This is an exclusive programme offered by Cambridge Finance and in line with the Royal Institution of Chartered Surveyors (RICS) financial modelling competency.

Cambridge Finance is the only real estate financial modelling training company regulated by RICS. We are their exclusive partners in their real estate finance and investment content development.

Duration – 5 days

CPD Hours – 35

Location: Central London

Level – Beginner – Advanced

  • Overview
  • Prices & Dates
  • Content
  • Participants
  • Testimonials

Certificate in Real Estate Financial Modelling

Course Overview

This is an exclusive programme offered by Cambridge Finance and in line with the Royal Institution of Chartered Surveyors (RICS) financial modelling competency. Cambridge Finance is the only real estate financial modelling training company regulated by RICS. We are their exclusive partners in their real estate finance and investment content development.

The Certificate in Real Estate Financial Modelling comprises of the following:   

Real Estate Investment & Financial Modelling

Real Estate Debt Structures & Financial Modelling

Learning outcomes

Give investment recommendation based on quantitative methods.

Construct fully automated multi-tenant property cash flows from scratch.

Audit third-party cash flows.

Understand how cash flow inputs and outputs are interlinked.

Develop and produce sensitivity and scenario analysis.

Pricing

Prices exclude VAT (if applicable) Contact us for Partner discounts.

In Person

Attend the course in person, in Central London.

£4,485

Early Booking
SAVE £405

Early Bird Discount when you book & pay at least 30 days in advance.

Virtual Live

Attend the course, live from anywhere in the World.

£3,536

Early Booking
SAVE £321

Early Bird Discount when you book & pay at least 30 days in advance.

On Demand

Instant download of course materials & videos.

£2,830

Lifetime Instant
Access

Early Bird Discount when you book & pay at least 30 days in advance.

In House

Book this course for your in house team.

Price On Request

Please contact if your would like to discuss specific requirements or simple fill out our booking form below.

Dates

17
Mar
2025

Certificate in Real Estate Financial Modelling

Clock Icon 09:30 AM - 04:30 PM

Location Icon The Cumberland Hotel, Great Cumberland Pl, London W1H 7DL

Find Out More
17
Mar
2025

Certificate in Real Estate Financial Modelling (Virtual Live)

Clock Icon 09:30 AM - 04:30 PM

Location Icon Virtual Online Live

Find Out More

Course Content

Day 1

Best practice in financial models

  • Simple tips to help you become an efficient financial modeller.
  • How to avoid errors and present your models in a persuasive way

Implicit investment valuation methods

  • Term & Reversion
  • Layer / Hardcore
  • Property yields
  • Defining term and reversionary yields
  • Calculating the equivalent yield

Build your cash flow from scratch

  • Inputs: passing rent, estimated rental value, initial and exit yields, market growth, review cycles and most
  • importantly, target returns
  • Outputs: internal rate of return, net present value and worth
  • Annual and quarterly discounted cash flows: modelling purchase price, passing rent, rent reviews, exit rent and exit price

Analyse the results

  • IRR, NPV and Worth
  • Data tables & sensitivity analysis
  • Risk visualisation (charts)

Case study

Single-tenant office building in the UK

Day 2

Multi tenant properties

  • Modelling tenancy schedules and rents forecast
  • Rent reviews, upward-only, break options, lease expiry
  • Modelling hypothetical second leases
  • Void period, rent free and estimated rental values

Time-varying rental growth

Net Operating Income Forecast

  • Modelling capital expenditure for refurbishment and operating costs (letting fees, void costs, empty rates)

Investment decision

  • When to accept the project and make investment recommendation

Case Study

Multi-tenant office building in the UK

Day 3

Capital Structure, sources of debt funds & lending criteria

  • Capital structures: debt & equity
  • Explanation of different debt & equity structures
  • Sources of debt fund & lending criteria

Debt Covenants & calculations

  • Operational Covenants: asset maintenance, disclosure requirements, insurance and credit line
  • Financial Covenants: interest cover ratio, debt service coverage, loan to value, debt yield

Senior debt repayment modelling

Rolled-Up (Capitalised) Interest

Interest Only

Constant Amortisation

Fully-Amortising Constant Payment

Partially-Amortising Constant Payment

Day 4

Pro-forma cash flow development modelling

  • Site Purchase
  • Gross Development Value (GDV) versus Net Development Value (NDV)

Development Timeline Modelling:  Phases and Duration

Development Costs Modelling: Hard Costs and Soft Costs

  • S-Curve
  • Straight-Line
  • Known Costs

Mezzanine finance

  • Modelling mezzanine structures
  • Mezzanine interest and fees

Debt Prioritisation

  • Modelling cash flow waterfall
  • Coupon and capital repayment schedule

Analysis

  • Maximum loan amount based on financial covenants
  • Credit Analysis
  • Stress test
  • Capital adequacy calculations

Case study:

Office development lending 

Day 5

Real Estate Risk

Sensitivity Analysis 

Data Tables

Scenario Analysis

Automatic scenario modelling

Simulation Analysis

Monte Carlo analysis 

Case Study:

Learn how to add a real life tenancy schedule and debt facilities into the models. Analyse any investment-grade commercial property transactions in the European markets.

Add your content here…

Analysts in commercial property investment and capital markets.

APC candidates (Property Finance and Investment /Commercial Property Pathway) who would like to take financial modelling as a competency to Level 2 and 3.

Real estate professionals who want to receive the Cambridge Finance Certificate to demonstrate financial modelling skills on their CV.

Upcoming Courses

On Demand Booking

Certificate in Real Estate Financial Modelling