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Underwrite ground-up commercial development deals in minutes, not days. This fully-integrated Excel model handles the entire deal lifecycle: construction budgeting, monthly draw schedules, construction-to-perm financing, suite-by-suite lease-up, and a 5-tier equity waterfall, all driven from a clean, color-coded assumptions tab.
Suite-by-Suite Rent Roll & Lease-Up Engine
Detailed rent roll with per-suite terms: rent, escalations, free rent, TI/LC, recovery structure (NNN, Modified Gross, Fixed)
Auto or Manual lease-up modes. Set an absorption pace and let the model lease vacant suites automatically, or hand-schedule each suite's start date
Market leasing assumptions (up to 4 MLA profiles) with renewal probability, downtime, and rollover economics
Full Development Budget with Cost Curves
Land, hard, and soft cost line items with individual start/end dates
Linear or S-curve (normal) cost distribution for realistic monthly draws
Automatic sources & uses with operating deficit funding and prepaid interest
Construction + Refinance Debt Module
Construction loan with I/O period, origination fees, and prepaid interest
Built-in refinance logic: perm loan sized off forward NOI and cap rate, with amortization, prepay penalties, and payoff timing
Fixed or floating rate structures with SOFR curve, spread, rate cap, and floor
5-Tier Equity Waterfall
IRR-based promote structure with preferred return, GP/LP splits, and sponsor fees (asset management, disposition)
Full partnership returns: profit, IRR, and equity multiple by entity
10 tabs, cleanly separated into Inputs (Unit Mix, Costs, Assumptions), Outputs (Investment Summary, Annual P&L), and Calculations (Monthly P&L engine, Waterfall, Debt Tables), with a Navigation tab so you always know where everything lives.
Who it's for: Developers, sponsors, acquisition analysts, and brokers underwriting ground-up commercial projects (office, retail, industrial, flex).
Underwrite ground-up commercial development deals in minutes, not days. This fully-integrated Excel model handles the entire deal lifecycle: construction budgeting, monthly draw schedules, construction-to-perm financing, suite-by-suite lease-up, and a 5-tier equity waterfall, all driven from a clean, color-coded assumptions tab.
Suite-by-Suite Rent Roll & Lease-Up Engine
Detailed rent roll with per-suite terms: rent, escalations, free rent, TI/LC, recovery structure (NNN, Modified Gross, Fixed)
Auto or Manual lease-up modes. Set an absorption pace and let the model lease vacant suites automatically, or hand-schedule each suite's start date
Market leasing assumptions (up to 4 MLA profiles) with renewal probability, downtime, and rollover economics
Full Development Budget with Cost Curves
Land, hard, and soft cost line items with individual start/end dates
Linear or S-curve (normal) cost distribution for realistic monthly draws
Automatic sources & uses with operating deficit funding and prepaid interest
Construction + Refinance Debt Module
Construction loan with I/O period, origination fees, and prepaid interest
Built-in refinance logic: perm loan sized off forward NOI and cap rate, with amortization, prepay penalties, and payoff timing
Fixed or floating rate structures with SOFR curve, spread, rate cap, and floor
5-Tier Equity Waterfall
IRR-based promote structure with preferred return, GP/LP splits, and sponsor fees (asset management, disposition)
Full partnership returns: profit, IRR, and equity multiple by entity
10 tabs, cleanly separated into Inputs (Unit Mix, Costs, Assumptions), Outputs (Investment Summary, Annual P&L), and Calculations (Monthly P&L engine, Waterfall, Debt Tables), with a Navigation tab so you always know where everything lives.
Who it's for: Developers, sponsors, acquisition analysts, and brokers underwriting ground-up commercial projects (office, retail, industrial, flex).
