Mixed-Use Real Estate Development Financial Model

A development pro forma model is the financial model used to underwrite a ground-up real estate construction project. It forecasts revenues, hard and soft costs, financing draws, and returns from land acquisition through stabilization and exit. The TILT development model handles mixed-use and single-asset-class projects in one engine with over 1,000 hours of development work behind it.

Yes. The model is a macro-enabled Excel workbook you download and run on your own computer, in Excel for Windows or Mac. Nothing runs in the cloud, there's no per-seat licensing, and your files stay local. Everyone at your company can use it.

Yes. The TILT development model handles any combination of residential, commercial or retail, and/or hotel uses on a single site. Up to 20 commercial segments, 40 residential segments, and a full hotel operation in one project. Shared land basis, segment-specific operating expenses, segment-specific exits all built in.

Yes. The same model handles residential-only, commercial-only, or hotel-only projects with no extra work. You just leave the unused segments empty. Most TILT clients start with a single asset class and add segments as their deal flow expands. You don't need a different model for each asset class.

The model includes a dedicated construction loan cash flow sheet with monthly draws, interest accrual, and payoff timing, and it calculates the loan interest automatically with no circular references or iterative calculation turned on. You can size the loan by LTC, dollar amount, stabilized DSCR, or percent of stabilized value, and run it alongside mezzanine debt, CPACE, TIF, grants, and a refinance in the full capital stack.

Yes. TILT specifically built the model for complex capital stacks: CPACE alongside a construction loan on different rate and fee structures, TIF as pay-as-you-go or bond, LIHTC with federal and state credit layers plus bridge loan logic, grant infusions across up to 20 dates, alternative loans for nonstandard structures, and bifurcated land plus construction loans.

Yes. Up to 6 LP investors and 6 GP sponsors with configurable preferred returns, IRR hurdles, and multi-tier promote splits. The waterfall logic flows through to deal summary outputs and per-stakeholder cash flow sheets without manual reconciliation.

Up to 20 phases, in series or in parallel. Phase timing drives cost spending, loan draws, and revenue start dates across the project. Common uses include staged townhome releases, multi-tower projects, and developments with separate vertical and horizontal phases.

Free spreadsheets usually cover one asset class and break when you push them, with circular references and assumptions hard-coded into the formulas. The TILT model is a 1,000+ hour build that handles mixed-use, complex capital stacks, and full partnership waterfalls without circular references. You also get help directly from Justin, who built it, and if you ever need something it doesn't do, he can add it.

TILT can customize the model. If your project needs something the standard build doesn't cover (a specific financing structure, a one-off output sheet, a custom waterfall), Justin builds it in for an hourly fee. Customizations are part of how TILT operates, not a rare exception.

Every TILT model purchase includes 1 hour of complimentary setup help with Justin to walk through your first project together. Most first projects are completed inside that hour. Ongoing technical support ("what does this cell do," "how do I enable macros") is free for the life of the license. Hourly help is available if you want Justin on the line for project input or analysis.

Start with a free consultation. Justin walks through your project, confirms the model fits, and gets you set up, including one hour of complimentary setup help on your first deal. Use the contact form below or the buttons above to start the conversation.