Real Estate Debt Structures, Risk & Financial Modelling
Learn how to construct a robust real estate geared cashflow model from scratch. Understand senior debt and mezzanine finance for investment and lending decisions. Master credit fundamentals which will enhance your property lending analysis and underwriting processes.
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Real Estate Debt Structures, Risk & Financial Modelling
Course Overview
Learn how to construct a robust real estate geared cashflow model from scratch.
Understand senior debt and mezzanine finance for investment and lending decisions.
Master credit fundamentals which will enhance your property lending analysis and underwriting processes.
Pricing
Prices exclude VAT (if applicable) Contact us for Partner discounts.
In Person
Attend the course in person, in Central London.
£2,620
Early Booking
SAVE £235
Early Bird Discount when you book & pay at least 30 days in advance.
Virtual Live
Attend the course, live from anywhere in the World.
£2,145
Early Booking
SAVE £195
Early Bird Discount when you book & pay at least 30 days in advance.
On Demand
Instant download of course materials & videos.
£1,716
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
Course Content
Day 1
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 2
Pro-Forma Development Cash Flow 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 3
Real Estate Risk
Sensitivity Analysis
- Data tables
Scenario Analysis
- Automatic scenario modelling
Stimulation Analysis
- Monte Carlo analysis
Case Study
Learn how to add a real life tenancy schedule and debt facilities into the models. Analyse investment – grade commercial property transactions in the European markets.
This course is aimed at financial analyst working at banks, private equity firms and real estate consultancies.
