Real Estate Financial Modeling 2.0 teaches you how to master the questions and case studies you’ll need to win offers at the top real estate private equity firms, brokerages, development firms, and investment banks. Two topics matter more than anything else in any real estate interview: (1) Your interest in real estate and knowledge of the industry. (2) Your ability to answer technical questions competently, complete modeling tests, and prove that you can do the work.
- Module 1: Real Estate Overview and Short Case Studies/Modeling Tests: In this module, you will get an introduction to Real Estate Financial Modeling, and you’ll practice key skills with short case studies/modeling tests across the main property and deal types.
- Module 2: Four-Hour Office Development Modeling Test (100 Bishopsgate): In this module, you will complete a 4-hour real estate development modeling test for an office property in the City of London (100 Bishopsgate). You will expand on the simplified 90-minute version in the introductory module and build in support for a monthly schedule with flexible refinancing and exit dates and multiple scenarios.
- Module 3: Two-Hour Hotel Acquisition & Renovation Modeling Test (Jumeirah Beach Hotel): In this case study, you’ll complete a 2-hour hotel acquisition and renovation modeling test based on a 5-star resort in Dubai, the Jumeirah Beach Hotel.
- Module 4: Three-Hour Multifamily Acquisition & Credit Case Study (The Lyric): In this case study, you will build a multifamily acquisition and credit analysis model and make an investment recommendation on the Senior Loan, Mezzanine, or Preferred Equity used to fund the property.
- Module 5: Four-Hour Office/Retail Acquisition & Renovation Modeling Test (45 Milk Street): In this case study, you will build an acquisition and renovation model for a mixed-use office/retail property and make investment recommendations for the Limited Partners, General Partners, Senior Lenders, and Mezzanine Investors.
- Module 6: Two-Hour Pre-Sold Condo Development Modeling Test (Heritage Cyrela): In this case study, you will build a condo development model for the Heritage Cyrela, a super-high-end luxury complex in São Paulo. You will then use the model to make investment recommendations for the Limited Partners and Developers and identify the key risk factors in the deal.
- Module 7: Four-Hour (or 1-Week) REIT Valuation Modeling Test (AvalonBay): In this case study, you will build a 3-statement model and valuation for AvalonBay, a leading U.S.-based multifamily REIT. You will then use the model to create a hedge fund/asset management stock pitch, an equity research report, and an investment banking pitch book for the company.
- Module 8: Two-Hour REIT Debt vs. Equity Case Study (SPH REIT): In this case study, you’ll project the performance of individual properties for SPH REIT, a Singaporean retail REIT, on a half-year basis, and you’ll create a 3-statement model that supports the S$ 500 million acquisition of Seletar Mall, a new property, using Equity and Debt.
- Module 9: Three-Hour REIT M&A and Merger Model Case Study (Digital Realty / DuPont Fabros): In this case study, you’ll complete a quarterly merger model and supplemental analysis for Digital Realty’s $5.8 billion acquisition of DuPont Fabros, and you’ll learn how purchase price allocation and the combination of the financial statements differ for REITs.
- Module 10: Two and a half-Hour REIT Leveraged Buyout and LBO Model Case Study (Blackstone / Pure Industrial Real Estate Trust): In this case study, you’ll analyze Blackstone’s $2.5 billion CAD leveraged buyout of Pure Industrial Real Estate Trust (PIRET) in Canada and make an investment recommendation for or against the deal.
- Module 11: Certification Quiz: In this final module, you can test your knowledge of the course material with a 60-question certification quiz testing all the topics and case studies above.
View the other BIWS courses offered: https://www.bionicturtle.com/partner-products/