SmartHelping / Real Estate Acquisition / Excel
Multi-Family Acquisition Excel Model
Underwrite up to four property acquisitions with annual pro formas, refinance options, and an optional investor/sponsor IRR waterfall. Review each property separately and see the combined results.
Immediate download includes the single-property and four-property versions. By purchasing, you agree to the Terms of Service.
Video walkthrough & spreadsheet preview
See how the acquisition assumptions flow into investment returns.
Two versions in one download
Analyze one building or up to four acquisitions.
Both versions are included in the $45 purchase. Choose the workbook that fits the number of properties you want to analyze.
Four-property version
Turn each acquisition on or off with a selector. Each property has its own assumptions, debt, refinance settings, and joint venture waterfall, with individual and consolidated results.
Single-property version
Use the same model structure with tabs and inputs for one building. This separate workbook removes the additional property configurations. Read about the single-property update.
Acquisition underwriting workflow
Start with operating assumptions, then add the financing and distribution terms.
Choose detailed or high-level assumptions
Use the detailed unit mix and expense inputs, or select high-level assumptions and enter a single current revenue figure and a single current expense figure.
Set revenue and expense growth
Define the operating assumptions and growth rates that drive the annual pro forma. In the four-property workbook, enter a separate set of assumptions for each acquisition.
Model debt, refinance, and exit timing
Enter the financing assumptions and choose the refinance and exit years. The model calculates the resulting debt service and cash available under those assumptions.
Review the distributions and return outputs
Use the optional IRR hurdles to model investor and sponsor distributions. Review the property-level results, combined reporting, DCF analysis, and printable executive summary.
Refinance timing & joint venture distributions
See how financing and profit-sharing terms affect the cash flow.
Dynamic refinance event
Change the refinance year and exit year to see how debt service and available cash change. Each property in the four-property version has its own debt and refinance assumptions.
Optional IRR hurdle waterfall
Define IRR thresholds and the investor/sponsor split at each tier. As a hurdle is met, remaining cash moves into the next tier and follows that tier's distribution percentages.
Promote schedules tied to return performance
Model a larger sponsor share at higher investor IRR hurdles. The distribution calculations follow the hurdle rates and profit splits you enter.
Separate terms for each acquisition
Each property can use its own joint venture waterfall. Review its cash flow allocation individually, then see the consolidated results for the properties included in the analysis.
Reports & valuation
Review each property and the combined investment.
Annual pro forma
Follow the projected operating results and cash flows on an annual basis, including the effects of financing and refinance assumptions.
Individual and consolidated results
Review the data for each acquisition and the consolidated view of the properties switched on in the four-property workbook.
DCF analysis with NPV
Evaluate discounted cash flows and net present value for each individual property and for the properties in aggregate.
Printable executive summary
Use the executive summary for a print-ready overview of the analysis. Keep the more detailed assumptions and calculations in the pro forma tabs.
Flexible assumption detail
Use the level of detail your deal information supports.
Start with current revenue and expenses when you need a quick underwriting view, or use the detailed unit and expense assumptions when more information is available. The model brings operations, financing, refinance timing, and distributions into the same analysis.
More templates in one purchase
Explore the bundles that include this model.
Real Estate Financial Models Bundle
Explore the collection of real estate financial models and investment analysis templates.
Explore the bundleJoint Venture Waterfall Models Bundle
Explore the collection of joint venture distribution and cash flow waterfall templates.
Explore the bundleThe Super Smart Bundle
Explore the broader SmartHelping financial model collection, which also includes this acquisition template.
Explore the bundleQuestions before you start
A few useful details.
How many properties can I analyze?
The multi-property workbook supports up to four acquisitions, each with an on/off selector and separate assumptions. A single-property workbook is also included in the download.
Do I need a detailed unit mix to use the model?
No. Select high-level assumptions to enter current revenue and expenses as single figures. You can also use detailed assumptions for the unit mix and expense inputs.
Is the model annual or monthly?
This template uses an annual pro forma and annual cash flow waterfall calculations.
Can I change the refinance and exit years?
Yes. The refinance logic calculates the effects on debt service and cash available as you change the refinance and exit timing.
Are the IRR hurdles required?
No. The IRR hurdle waterfall is optional. When used, it allocates cash between the investor and sponsor according to the defined hurdle rates and tier splits.
Does the model include DCF and NPV?
Yes. DCF analysis with NPV is included for each individual property and for the properties in aggregate.
What is included in the purchase?
The $45 USD one-time purchase includes the four-property and single-property Excel workbooks, available to download immediately. For questions about your setup, contact SmartHelping.
Multi-family acquisition underwriting
Connect the property assumptions to the investment returns.
Multi-Family Acquisition Excel Model — $45, one-time purchase. Both versions included.
