Debt & Financing for Real Estate

Explore how real estate debt and financing structures work across investment and development projects. Learn how to model loan facilities, interest calculations, debt covenants, refinancing scenarios, and financing structures used in commercial real estate transactions.

  • DIFFICULTY LEVEL: Intermediate

  • CPD HOURS: 9.0

Debt & Financing for Real Estate

Explore how real estate debt and financing structures work across investment and development projects. Learn how to model loan facilities, interest calculations, debt covenants, refinancing scenarios, and financing structures used in commercial real estate transactions.

  • DIFFICULTY LEVEL: Intermediate

  • CPD HOURS: 9.0

Course Overview

Debt and financing are central to commercial real estate investment and development. Understanding how loan structures work - and how to model them accurately - is essential for analysing risk, evaluating returns, and making informed investment decisions.

This course provides a practical introduction to real estate debt modelling and financing analysis using Excel and real-world commercial property examples.

You’ll learn how to interpret term sheets, understand different loan structures, model debt drawdowns and repayments, calculate financing costs, and analyse key lender covenants including Loan to Value (LTV), Interest Cover Ratio (ICR), and Debt Service Cover Ratio (DSCR).

The course also explores refinancing, hedging structures, leveraged cash flow modelling, and debt-related return analysis, helping you understand how financing impacts investment performance across both investment and development transactions.

Whether you work in acquisitions, investment, development, valuation, or lending, this course provides practical debt modelling skills used across the commercial real estate industry.

What you will learn

By the end of this course, you’ll be able to:

  • Understand the fundamentals of commercial real estate debt and financing structures

  • Interpret loan term sheets and understand key financing terminology

  • Model different types of real estate loans and debt facilities in Excel

  • Build leveraged cash flow models for investment and development projects

  • Calculate debt drawdowns, repayments, and financing costs

  • Model interest calculations, arrangement fees, exit fees, and rolled-up costs

  • Understand and model refinancing scenarios within real estate cash flows

  • Analyse debt covenants including LTV, ICR, and DSCR

  • Understand the role of hedging structures including swaps, caps, and floating rate debt

  • Evaluate leveraged returns and the impact of financing on investment performance

  • Apply Excel modelling techniques and error-checking methods used in debt analysis

  • Improve your understanding of commercial real estate finance and underwriting principles

Who this course is for

This course is designed for professionals looking to strengthen their understanding of commercial real estate debt, financing structures, and leveraged financial modelling.

It is particularly valuable for:

  • Real estate analysts and financial modellers

  • Investment and acquisitions professionals

  • Development and underwriting professionals

  • Debt advisory and lending professionals

  • Surveyors and valuation professionals working with leveraged cash flows

  • Anyone involved in commercial real estate finance or investment analysis

A basic understanding of Excel and real estate financial modelling is recommended. No prior debt knowledge is required.

Ready to improve your debt modelling skills?

Join the EiP Academy to access this course alongside the full library of real estate financial modelling training, live support sessions, downloadable tools, and practical case studies.

FAQs

What is real estate debt modelling?

Real estate debt modelling involves analysing how loan facilities, financing costs, repayments, and lender covenants impact investment and development cash flows.

Will I learn how to model leveraged cash flows?

Yes. The course teaches you how to build leveraged investment and development cash flow models in Excel using practical real estate financing examples.

Do you cover debt covenants?

Yes. The course includes modelling and analysis of key debt covenants including Loan to Value (LTV), Interest Cover Ratio (ICR), and Debt Service Cover Ratio (DSCR).

Is refinancing covered?

Yes. The course explores refinancing assumptions, refinance drawdowns, repayment structures, and how refinancing impacts cash flow analysis.

Will I learn about hedging and interest rate structures?

Yes. The course includes an introduction to hedging structures including swaps, caps, floating rate debt, and related financing considerations.

Is this suitable for beginners?

This course is best suited to professionals with a basic understanding of Excel and real estate financial modelling who want to improve their debt and financing analysis skills.

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