Foundations Of Real Estate Financing

America’s landscape is undergoing a profound transformation as demand grows for a different kind of American Dream--smaller homes on smaller lots, multifamily options, and walkable neighborhoods. This trend presents a tremendous opportunity to reinvent our urban and suburban areas. But in a time of fiscal austerity, how do we finance redevelopment needs? In Foundations of Real Estate Development Finance: A Guide for Public-Private Partnerships, urban scholar Arthur C. Nelson argues that efficient redevelopment depends on the ability to leverage resources through partnerships. Public-private partnerships are increasingly important in reducing the complexity and lowering the risk of redevelopment projects. Although planners are an integral part of creating these partnerships, their training does generally not include real-estate financing, which presents challenges and imbalances in public-private partnership. This is the first primer on financing urban redevelopment written for practicing planners and public administrators. In easy-to-understand language, it will inform readers of the natural cycle of urban development, explain how to overcome barriers to efficient redevelopment, what it takes for the private sector to justify its redevelopment investments, and the role of public and nonprofit sectors to leverage private sector redevelopment where the market does not generate sufficient rates of return. This is a must read for practicing planners and planning students, economic development officials, public administrators, and others who need to understand how to leverage public and non-profit resources to leverage private funds for redevelopment.

Foundations of Real Estate Financial Modelling is specifically designed to provide an overview of pro forma modelling for real estate projects. The book introduces students and professionals to the basics of real estate finance theory before providing a step-by-step guide for financial model construction using Excel. The idea that real estate is an asset with unique characteristics which can be transformed, both physically and financially, forms the basis of discussion. Individual chapters are separated by functional unit and build upon themselves to include information on: Amortization Single-Family Unit Multi-Family Unit Development/Construction Addition(s) Waterfall (Equity Bifurcation) Accounting Statements Additional Asset Classes Further chapters are dedicated to risk quantification and include scenario, stochastic and Monte Carlo simulations, waterfalls and securitized products. This book is the ideal companion to core real estate finance textbooks and will boost students Excel modelling skills before they enter the workplace. The book provides individuals with a step-by-step instruction on how to construct a real estate financial model that is both scalable and modular. A companion website provides the pro forma models to give readers a basic financial model for each asset class as well as methods to quantify performance and understand how and why each model is constructed and the best practices for repositioning these assets.

NAMED ONE OF THE BEST COMMERCIAL REAL ESTATE BOOKS BY THE MOTLEY FOOL "Staiger gives us the technical tools needed to build robust pro forma modeling around our real estate assets." –MillionAcres Now in its third edition, Foundations of Real Estate Financial Modelling equips a new generation of students and professionals with a resource MillionAcres guarantees they’ll "use throughout [their] commercial investing career[s]." Designed to provide increased scalable basis of pro forma modelling for real estate projects, this complete update and revision of the classic text offers a step-by-step introduction to building and understanding the models underlying investments in properties from single-family rentals to large-scale developments. Case studies drawn from the author’s storied investment career put models into real-world context while problem sets at the end of each chapter provide hands-on practice for learners at any stage of their real estate careers. This edition employs the innovative financial metric P(Gain) to quantify the probability of a Return of Capital, ensuring readers’ ability to answer the most fundamental question of investing—What is the probability I’ll get my money back? The fully revised and enhanced third edition is organized in three functional units: (1) Real Estate Valuation Basics, Theory, and Skills, (2) Real Estate Pro Forma Modelling, and (3) Real Estate Pro Forma (Enhancements). Chapters cover: Interest Rates (Prime, LIBOR, SOFR) Amortization (Cash-Out Refinance modelling) ADC (Acquisition, Development, Construction) Module Rent Roll Module (including seasonality) Waterfall Hotel Consolidation Stochastic Modelling and Optimization Additional chapters are dedicated to risk quantification and include scenario, stochastic, and Monte Carlo simulations, equity waterfalls, and integration of US GAAP financial statements. A companion website provides the real estate pro forma models to readers as a reference for their own constructed models, www.pgainllc.com. An ideal companion in the classroom and the boardroom, this new edition of Foundations of Real Estate Financial Modelling will make even novices the "experts in the room on [their] chosen asset class" (MillionAcres).

Foundations of Real Estate Financial Modelling is specifically designed to provide an overview of pro forma modelling for real estate projects. The book introduces students and professionals to the basics of real estate finance theory before providing a step-by-step guide for financial model construction using Excel. The idea that real estate is an asset with unique characteristics which can be transformed, both physically and financially, forms the basis of discussion. Individual chapters are separated by functional unit and build upon themselves to include information on:AmortizationSingle-F.

Real Estate Financial Modelling is specifically designed to provide an overview of pro forma modelling for real estate projects. The book introduces students and professionals to the basics of real estate finance theory before providing a step-by-step guide for financial model construction using Excel. The idea that real estate is an asset with unique characteristics which can be transformed, both physically and financially, forms the basis of discussion.