Real Estate PEReal Estate PE
Daily Cash Flow Tracker: Real Estate Portfolio
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Real Estate PEClient engagement
Multifamily Acquisition Model
An institutional-grade value-add underwriting model for a 190-unit multifamily acquisition: full debt sizing, monthly cash flows, and a levered equity waterfall.
Shown anonymised at the client's request.
- Client
- Confidential
- Our role
- Financial Modeling Lead
The engagement
The client needed an underwriting model that could withstand lender and investor scrutiny, one that sized debt against real covenant tests, not just a target LTV.
What we built
A 7-tab model with assumptions-driven inputs, a 60-month renovation and operating forecast, a monthly debt schedule with DSCR/LTV/debt-yield/LTC sizing checks, a sources & uses, a levered equity cash-flow and IRR analysis, and an executive dashboard.
The outcome
Base case underwrote to a 47.0% levered IRR, 5.60x equity multiple, 17.1% average cash-on-cash, and $34.0M in net equity proceeds on a 5-year hold.
Deliverables
- 7-tab linked Excel model
- Assumptions-driven inputs
- 60-month operating forecast
- Monthly debt schedule
- Equity returns & IRR analysis
- Annual summary
- Executive dashboard
Skills & tools
- Real Estate Underwriting
- Value-Add Modeling
- Debt Sizing (DSCR/LTV/LTC)
- Levered IRR & Equity Multiple
- Sources & Uses
- Exit Valuation
- Advanced Excel
- KPI Dashboard
Deliverable (view only)
ProtectedMultifamily Acquisition Model
Opens in a distraction free, full screen reader. View only, no download.
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