PROJECT FINANCE
REAL ESTATE
Introduction
The Real Estate Project Finance Program has a total duration of 24 hours, distributed over 8 days, during which the main techniques and tools of project finance applied to real estate are presented through practical case studies.
Throughout the course, practical case studies of structured financing are analyzed, applied to various real estate assets: residential, logistics, shopping centers, and alternative assets.
The program is designed for real estate professionals interested in expanding or updating their knowledge of structured real estate asset financing.
Why this program?
- Professional instructors from leading banks, funds, and real estate advisory firms.
- Recorded sessions so you won’t miss a class and can rewatch them anytime.
- Access to Project Finance models and real case studies.
- Certificate upon completion of the program.
Module 1
Introduction to Project Finance
- Introduction to financial structuring.
- Risk analysis and due diligence.
- Financial structuring and debt sizing.
- Security package and contractual structure.
- Specific features of other types of financing.
MÓDULO 2
Financial Model I
- Introduction to the financial model.
- Best practices for building a financial model.
- Analysis of investment costs.
- Balance sheet and income statement.
- Cash flow calculation.
Module 3
Project Finance Process
- Structuring a Project Finance process in Real Estate.
- Process phases.
- Term Sheet.
- Value creation throughout the process.
Module 4
Financial Model II
- Review and analysis of a Term Sheet.
- Debt sizing conditions.
- Key ratios (Debt Service Coverage Ratio, lock-up ratios, maximum leverage, Loan Life Coverage Ratio, etc.).
- Covenant analysis.
- Interest and fee structure.
- Translating Term Sheet conditions into the financial model.
- Sources and uses of project financing.
Module 5
Modeling Case Study I (Residential)
- Project presentation and key characteristics.
- Development of the financial model.
- Analysis and discussion of the results.
- Use of programming tools for building project finance models.
Module 6
Structuring a Project Finance Model
- Revenues and expenses.
- Cash flow categorization: operating, investing, and financing.
- Modeling assumptions.
Module 7
Modeling Case Study II
- Project finance modeling case study: Alternative Assets.
- Project analysis.
- Bank debt sizing.
- Ratio calculation and interpretation.
- Scenario analysis and interpretation.
- Sensitivity analysis.
Module 8
Financing Structures: Traditional vs Alternative Lenders
Objective
Credit approval and management.
- Types of debt and financing.
- Types of lenders: Traditional lenders, Debt funds.
- Key ratios & covenants.
- Deal structuring and sensitivity analysis.
Module 9
Valuation Methods
- Importance and uses of appraisals and valuations.
- Differences between ECO and RICS appraisals/valuations.
- Valuation methods by asset type: Replacement Cost, Income Capitalization, Comparables, DCF, GAV & NAV.
Module 10
Investment and Financing Strategies in Real Estate Funds
- Roundtable discussion where professionals from Real Estate Investment and Financing Funds will debate investment and financing strategies for real estate projects.
Module 11
Modeling Case Study III
Objective
Apply all course concepts to a real Project Finance Real Estate case.
- Project analysis.
- Bank debt sizing.
- Calculation and interpretation of ratios and guarantees.
- Scenario calculation and interpretation.
- Sensitivity analysis.
Faculty
Pablo Gerez
Associate Capital Markets
Jesús Gómez
Head of CRE Finance
Luis González
Head of Underwriting & Valuations
Carlos de Heredia
Investment Associate
Joaquín Linares
Head of Real Estate Equity
Ignacio Matiacci
Director Debt & Structured Finance
José Ignacio Tramuns
Head of Project Finance CRE & Hotel Finance EMEA
Wiebe Marco Klaassen
Associate Director Equity, Debt & Structured Finance
Fees and Dates
ADMISSION PROCESS
- The course will remain open until all spots are filled.
- To reserve your spot, you must complete the payment through the following link.
Price: 1.550 €
Schedule: Tuesdays and Thursdays from 17:30 to 20:30 (CET)
Timetable in Madrid:
If you have any questions about the course, please send us an email at academic.office@realestatefinanceinstitute.com
November
| M | T | W | Th | F | S | Su |
|---|---|---|---|---|---|---|
| 1 | 2 | |||||
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 17 | 18 | 19 | 20 | 21 | 22 | 23 |
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
04.11 | Introduction. Financial Model I.
06.11 | Project Finance Process.
11.11 | Financial Model II.
13.11 | Modeling Case Study I.
18.11 | Structuring a Project Finance Model.
20.11 | Modeling Case Study II.
25.11 | Financing Structures. Valuation Methods.
27.11 | Strategies. Modeling Case Study III.
FREQUENTLY ASKED QUESTIONS
The course is designed for professionals in the real estate sector, financial institutions, private equity firms, and investment banks involved in the development and financing of real estate projects, who are interested in deepening their knowledge of how to professionally structure and finance real estate projects under Project Finance schemes.
In previous editions, participants had an average of 15 years of experience, and we have welcomed students from over 20 countries.
The course is completely ONLINE. The classes are live at the scheduled time and will be recorded for you to watch again whenever you want. During the sessions, you can ask questions to the instructors who will answer them live.
Yes, the course offers opportunities to network with other participants who are open to connecting. Additionally, in some courses, you will have the chance to solve case studies in study groups, collaborating with peers from different companies and countries.
In the past, we have had participants from 17 different countries, creating a rich and diverse networking environment.
You can make the payment by bank transfer or on the website itself with a debit/credit card.
Unfortunately, we do not offer payment plans at this time.
Every student in the course has the same conditions and there are no scholarships or individual discounts. Companies that register 3 or more employees have a 10% discount by employee while companies that register 6 or more employees have a 20% discount.
Yes, if you miss any session, you will be able to watch the recorded version. All recorded sessions will remain available for 2 months after the course ends, allowing you to catch up at your convenience.
To earn the course certificate, students are required to pass a test or complete a case study. This requirement can be fulfilled even if you miss a live session, as the necessary materials and guidance will be provided.
The course consists of 8 sessions, each lasting 3 hours. In total, the program spans 24 hours of interactive and engaging content.
Yes, you will have access to all course materials for 2 months after the course concludes. This allows you to review the content and reinforce your learning at your convenience during this period.
All Excel and PDF files provided during the course are downloadable.
Yes. At the end of the program, students who have successfully completed all the course modules will receive a certificate accrediting that they have completed and passed the course successfully.
Contact us through our email: academic.office@realestatefinanceinstitute.com
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academic.office@realestatefinanceinstitute.com