Introduction to Modeling Investment Waterfall Distributions: ULI Live Online Workshop (October 2012)
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Students enrolling should be familiar with basic Excel commands and spreadsheet construction.
Course outline
Session 1: October 30, 2012 1:30–3:30 p.m. ET
Session highlights
- Theoretical understanding of structured products, i.e., bifurcating cash flows by IRR
- Understanding of specific Microsoft Excel functions required to build a waterfall
- Understanding of language and concepts of a waterfall in real estate, e.g., “pref rate”
- Rate conversions, e.g., equivalent nominal annual rate
Session 2: November 1, 2012 1:30–3:30 p.m. ET
Session highlights
- Complete waterfall model in Microsoft Excel that is compatible and scalable with existing spreadsheet models
- Quantify equity contributions
- Quantify project cash flows
- Quantify project characteristics
- Calculate the first waterfall (pref rate), i.e., Tier I
- Separate cash flows by tier investor
- Analyze investor cash flows
- Wrap-up/conclusion
Instructor
Roger Staiger is managing director for Stage Capital LLC, an international real estate advisory firm providing expertise to clients in areas of global portfolio management and asset repositioning. Staiger, through Stage Capital, has successfully repositioned over $500 million in distressed and inefficient real estate projects globally. During his 20-year career, Staiger has worked in a number of industries at senior levels. He was managing director for Constellation Energy’s retail commodity division, CFO for Caruso Homes, and a portfolio manager for a large commingled pension fund in New York. Staiger holds multiple degrees, including a BS in electrical engineering, an MBA in investments, an MA in international transactions, and an MS in finance. Currently, he holds faculty positions in the real estate departments at Georgetown University and Johns Hopkins University. Staiger makes numerous capital market and economic presentations to organizations internationally. He also appears regularly on television and is often quoted in national periodicals and local newspapers. |
{P0} Member Price:
$215.00
Non-Member Price:
$295.00