Joint Venture Waterfall Templates

Joint venture and waterfall models

Make the economics clear before the cash starts moving.

A focused collection of editable Excel models for preferred returns, preferred equity, IRR and MOIC hurdles, GP catch-ups, promote splits, cumulative distributions, funds and deal-specific waterfalls.

24 included models GP and LP return views Monthly and annual logic Easy to adapt and import
Fully editable filesNo hidden formulas, locked tabs or black-box distribution logic.
Immediate accessDownload after purchase and receive a link by email.
Mostly single-tab toolsDesigned for review and easy importing into a larger model.
Clear incentive alignmentShow how deal terms affect operator and investor returns.

Follow every dollar through the waterfall

Choose the structure closest to your agreement, then configure contributions, timing, hurdle definitions and splits around the actual deal terms.

Fund

Define capital contributions

Set GP and LP investment amounts, ownership, funding timing and the capital that must be returned.

Accrue

Calculate the preferred return

Model simple or compounding preferences, accrual balances, current payments and unpaid amounts.

Hurdle

Test each distribution tier

Apply return-of-capital rules, IRR or MOIC hurdles, high-water marks and GP catch-up provisions.

Split

Allocate cash and returns

Calculate promote or carry splits, residual distributions, partner cash flows, IRR and equity multiples.

This bundle is a strong fit if...

You evaluate or structure multiple joint ventures and need several ways to allocate cash between sponsors, operators and investors.

You compare preferred return, preferred equity, IRR and MOIC structures.
You need transparent waterfall logic that can be explained and audited.
You want reusable modules for funds, acquisitions and operating partnerships.

An individual model may be enough if...

You have one fixed distribution structure and do not expect to model alternative waterfalls.

Your agreement has one simple preference and one residual split.
You need a waterfall already built into one specific acquisition model.
You can review the individual model links below before choosing the full bundle.

Explore everything included

Search all 24 models or filter the collection by preferred return structures, waterfalls, funds and deal models with built-in distribution logic.

Showing 24 models

IRR & Distribution Waterfalls

Cash Flow IRR Waterfall

Master joint venture deals with this versatile model, offering insights into cash flow waterfalls with 3 IRR hurdles.

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IRR & Distribution Waterfalls

Cash Flow IRR Waterfall (2)

An IRR hurdle cash flow waterfall template that includes a GP catch-up provision. Aligns GP-LP interests, and illustrates cash distribution logic.

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Preferred Return & Equity

Preferred Return

Unravel joint venture cash flows with this template, simplifying investor and sponsor distributions based on preferred returns.

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Preferred Return & Equity

Preferred Return (2)

Joint venture spreadsheet for non-compounded preferred return hurdles. Ideal for GP/LP deals based on simple interest rate tiers.

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Preferred Return & Equity

Preferred Return (3)

A template to run various scenarios for a preferred return fund. This logic includes the option for GP catch-up hurdles.

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Preferred Return & Equity

Preferred Return (5)

Easily plug your cash flows into the top of this joint venture model, set your cash splits and hurdle rates, and analyze.

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Preferred Return & Equity

Preferred Equity

Explore complex funding structures with this preferred equity model, featuring optional common equity waterfall with IRR hurdles.

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Preferred Return & Equity

Preferred Equity (2)

Dynamic preferred equity waterfall template for joint ventures, offering 3-tier cash distribution logic over 10 years. Hurdle based on MOIC.

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IRR & Distribution Waterfalls

Cumulative Distribution

Efficiently manage LP and GP cash flow splits based on cumulative LP distributions with this model. Ideal for up to 60 periods.

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Fund & Fee Structures

Multi-Member Fund

Advanced Excel tool for tracking investment fund activities. Supports 20 members, 50 assets, 20-year timeline. Features IRR calculations / dividends.

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Deal Models with Waterfalls

Single Tenant Industrial

An underwriting template to analyze single tenant industrial real estate opportunities as an operator-only or joint venture group.

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Deal Models with Waterfalls

LBO Model with T12 Reference

A financial model built to analyze new business acquisitions. Drop your T12s in here and then base future projections off historical data.

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IRR & Distribution Waterfalls

Monthly Waterfall

Joint venture cash-flow waterfall templates with investor and sponsor IRR hurdles, adjustable distribution splits and return summaries. The purchase includes five template types, including monthly waterfalls, a sensitivity variant and a multifamily acquisition version with refinancing logic.

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Deal Models with Waterfalls

Self Storage: Up to 6 Funds

Analyze up to 6 self-storage investments over time. Includes GP and LP perspective with IRR hurdles. Each deal has its own configuration assumptions.

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Deal Models with Waterfalls

Business Turnaround Framework

An Excel template that makes it easy to model different scenarios in a business turnaround that involves a GP / Operator coming in to help the owners.

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Turn agreement language into working logic

Make each distribution tier explicit.

The templates show when cash moves from one tier to the next and how that change affects both investor and operator economics.

Return of capitalTrack contributed capital and determine when it has been fully repaid.
Preferred returnCalculate accrual, payment timing and any unpaid preference balance.
Hurdles and catch-upTest IRR, MOIC or cumulative thresholds and GP catch-up mechanics.
Promote and final splitAllocate remaining cash and summarize partner-level returns.

Frequently asked questions

The practical details about selecting, adapting and using the waterfall models.

Can I buy individual models instead?

Yes. Every template in the catalog links to its individual model page. The bundle is best for buyers who expect to compare or reuse several waterfall structures.

Can I add this logic to another financial model?

Yes. Nearly all of these waterfall tools use compact single-tab logic, making them easier to study and import. You will still need to connect the distribution cash flow and timing to your main model carefully.

What is the difference between a hard and soft hurdle?

A hard hurdle generally applies the performance allocation only above the hurdle. A soft hurdle can apply it more broadly once the hurdle is met. Always configure the spreadsheet to match the governing agreement.

Do the templates support multiple hurdles?

Several models support multiple IRR, MOIC or cumulative distribution tiers, while others focus on one preferred return or preferred equity structure. Each model card describes its primary design.

Are the spreadsheets fully editable?

Yes. Formulas and tabs are visible and editable so you can change assumptions, trace the logic and adapt the framework to the actual joint venture.

How is the bundle delivered?

The files are immediately downloadable after purchase. You will also receive an email with a download link, which is helpful when purchasing on a mobile device.

One-time purchase

Get the complete Joint Venture Waterfall Bundle.

Download all 24 models immediately and compare the distribution structures before adapting one to your deal.

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