This model is from the perspective of the Equity investor’s position in a 20 year REIT deal that has multiple equity and debt deployments in the first 5 years and then cash flows following.
This is for ramping, so in the first 5 years you can define various debt and/or equity deployments. The NOI (net operating income) will be determined by total deploymnets each year (per starting cap) and then a defined inflation rate from there on out for each deployment round (up to 5).
You can have more than one building per year, but this top-down style model will assume the NOI is a blanket number based on total capital deployed each year in the first 5 years.
i.e. if you deploy 100mm in year 2 across 3 different properties, the NOI will be an aggregate of all 3 based on the total cost and starting cap defined.
The debt is a defined % of equity per year. You can easily change this by manually entering figures into column Z instead of letting it use the debt to equity % defined in B10.
Debt can be toggled between either everything being a bond with a fixed interest payment and redemption at year 20, or p+I loans where you define the terms of each loan in tabs Loan1-Loan5.
Note, the loans in each tab will define their loan amount based on the total debt that is used in each of the first 5 years. i.e. loan1 starts in year 1, loan2 starts in year2, etc…
The aggregate effect of all 5 loans is accounted for in the ‘Amortization by year’ which tracks principal + interest payments and total outstanding balance. This allows for a proper cash projection at the exit year.
|Industry||Investment, Real Estate|
|Summary||A top-down based financial model to plug in various assumptions about multiple real estate investments and see the resulting effects over 20 years.|
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|Use Cases||Amortization, Cash Flow Analysis, Cash Flow Projections, CFO, DCF Model, Debt Amortization, Debt Schedule, Debt Service Coverage, Dividends, Excel, Financial Feasibility, Financial Projections, Financing, Forecast, Forecasting, IRR, Loans, Net Yield, NPV, Pro-Forma, Property Valuation, Rental income, Revenue Projections, Sensitivity Analysis, Terminal Value|