Debt and Financing · Part of the EiP Academy

Debt and Financing for Real Estate

Model loan facilities, interest, covenants and refinancing with confidence, from reading a term sheet to building the debt schedule.

Intermediate

9.0 CPD hours

about this course

Understand the loan, then model it

This course takes you from reading a term sheet to building a full debt schedule, with acquisition, capex and refinance drawdowns, fees, margin and hedging.

You then model repayments and test the loan against LTV, interest cover and debt service cover, so you know what the lender will check.

Who this course is for

Analysts who build property cash flows

Acquisitions and investment professionals

Asset managers who monitor loans

Development professionals who fund schemes

Graduates moving into real estate finance

Candidates preparing for modelling tests

What you'll end up with

This is what you'll learn to do

By the end of the course, you will be able to model a real estate loan from the term sheet and test it against the covenants.

  • Read a term sheet and pick out what matters for the model

  • Model drawdowns, fees, margin and interest

  • Add hedging with swaps, caps and floating rates

  • Model repayments, including at sale, at term and at refinance

  • Test the loan with LTV, interest cover and debt service cover

What you will learn

Skills you can use at work straight away

  • Reading a term sheet

  • Loan types and drawdowns

  • Fees and margin

  • Hedging with swaps and caps

  • Amortisation and repayments

  • LTV, ICR and DSCR

  • Covenant tests and cure accounts

  • Refinancing

Practical examples

Excel examples and downloadable files to work through.

Supporting materials

Everything you need alongside the lessons.

Academy access

Included in the EiP Academy, with future updates while your membership is active.

Want more than one course?

Get all our courses in the EiP Academy

All of our courses, the EiP Model Library and a community of property professionals, in one membership.

FAQs

What debt metrics does the course cover?

Loan to value, interest cover ratio and debt service cover ratio, including how to flag a breach with conditional formatting and how a cure account works.

Does the course cover hedging?

Yes. It covers swaps, caps and floating rates, and how each one changes the interest cost in your model.

Do I need to be able to build a cash flow first?

It helps to be comfortable with Excel and a basic property cash flow. If you are newer to Excel, Excel Foundations is a good place to start.

How long will I have access?

You have unlimited access for 12 months, in line with the EiP Academy, which is a 12-month programme. Nothing renews automatically, and you can renew when the period ends.

Do I get instant access?

Yes. Access is sent to you by email as soon as your order is confirmed.

Is this course included in the EiP Academy?

Yes. It is included in the EiP Academy, together with the other courses, the EiP Model Library and a community of property professionals. If you want more than one course, take a look at the Academy.

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