XIRR Waterfall Templates

Replies to This Discussion

Permalink Reply by Penelope Lynch on September 7, 2009 at 11:37am

Ted,

I don't have a 'plug and play' template, but the calculation is fairly straightforward, and I attach a simple illustration, which might help you assemble what you need. I'll keep an eye out and try to reply if you find it doesn't make sense!

All best,

Penny

Attachments:

• freecashIRRwaterfallillus.xls, 32 KB

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Permalink Reply by Dheeraj on July 6, 2010 at 11:21am

Penelope,in todays market an investment of whatever magnitude is not entirely funded through either sponsors equity or internal accrual. debt is included for obvious reasons. once debt is tied up, it not only brings tax relief but also brings with it several of riders as documented in the financing document. more important of that is the distribution waterfall and provision for cash sweep. particularly for non conventional investment, conditions on cash sweep are stringent and limits distribution of surplus cash. I think the model need to make provision for those conditions also.

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Permalink Reply by Guy Ravid on August 21, 2010 at 4:17pm

Penny,

Any chance that you can walk me through this template ?

If yes please give me your skype or another way to contact you. I am currently overseas (European time) and would like to make sure I understood your numbers.

Thanks,

Guy

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Permalink Reply by Dean Altshuler on June 18, 2010 at 7:46pm

I happened to find this site today. Your reply is pretty old by now, so I'm probably a little late, but I can help you, assuming Penelope has not already. Kindly let me know. I am an expert both in IRR waterfalls and in EXCEL.

Best regards,
Dean Alt

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Permalink Reply by David Murphy on July 5, 2010 at 8:20pm

Hi Dean,

I have a real estate investment company and need some help creating an IRR waterfall template for our business and some other EXCEL worksheets. Wondering if I could discuss this with you.

Dave Murphy

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Permalink Reply by Dean Altshuler on July 5, 2010 at 8:32pm

Certainly. E-mail me at dean at qdrealtyadvisors dot com (trying to prevent spam here).

Dean

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Permalink Reply by william white on December 27, 2010 at 12:13am

have small project.  how should i contact you for pricing

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Permalink Reply by Dean Altshuler on December 27, 2010 at 12:40am

Send me an e-mail directly from your address to dean at qdrealtyadvisors dot com.   Give me a phone # and a good time to call.    I'm in California.

 

Dean

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Permalink Reply by Richard Wong on July 5, 2010 at 9:55am

Great illustration Ted, great work on this.

Thanks,
Richard

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Permalink Reply by Thomas Troestl on July 5, 2010 at 1:31pm

hi ted,

i have attached a complete template from the urban land institute, its a real estate template,
quite detailed, development plus standing investment, see the last sheets, i hope it works.

regards
thomas

Attachments:

• Chap 4 figs 4-3 thru 4-9_all tables(1).xls, 175 KB
• Kopie von Chap 6_Lookback return with sliding profit split(1).xls, 33 KB

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Permalink Reply by Dean Altshuler on July 5, 2010 at 4:48pm

What Penelope did was really clever, and she included disclaimers, but I do want to note that it works only when all contributions occur before all distributions. If not, then it anticipates future contributions in deciding how to split prior distributions, something that is not generally workable.

Dean Altshuler

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Permalink Reply by PRINCE ODURO on July 19, 2010 at 2:14pm

I attached a management accounts report. I hope it will be useful for someone.

Attachments:

• MGT REPORT.xlsx, 165 KB

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