Mixed-Use Real Estate Development Financial Model

A development pro forma model is a real estate underwriting model used to evaluate a ground-up 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.

A development model underwrites a project you're building: land, phasing, hard and soft costs, construction loan draws, lease-up, and stabilization before exit. An acquisition model underwrites an existing operating asset from the day you buy it, starting with an in-place rent roll and a going-in cap rate. TILT builds both, for mixed-use, residential, commercial, and hotel.

Yes. It's a macro-enabled Excel workbook you download and run on your own computer. Nothing runs in the cloud and your files stay local. The license covers your company rather than individual seats, so your whole team can use it.

Yes. It handles any combination of residential and/or commercial and/or hotel uses in one model: 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, and more are all built in.

Yes. The same model handles residential-only, commercial-only, or hotel-only projects. Segments you don't select don't appear in your workbook. Many TILT clients start with a single asset class and add segments as their deal flow expands. TILT also builds dedicated residential, commercial, and hotel development models if you know you'll only ever need one.

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 the moment you push them, with assumptions hard-coded into the formulas and no way to model a real capital stack. The TILT model handles mixed-use, complex financing, and full partnership waterfalls, and it produces output your lender and your LPs can read. You also get help directly from Justin, who built it, and if you ever need something it doesn't do, he can add it.

Yes. There's a dedicated construction loan cash flow sheet with monthly draws, interest accrual, and payoff timing, and it calculates the loan interest for you as the draw schedule changes. You can size the loan by LTC, LTV, stabilized DSCR, or dollar amount, and run it alongside mezzanine debt, C-PACE, TIF, grants, and a refinance in the full capital stack.

LTC sizes the loan as a percentage of total project cost, which is what governs during construction. DSCR sizes it against the debt service the stabilized property can actually carry, which is what governs at permanent financing. Lenders test both. The model runs both and shows you which one is binding.

Yes. If you need a LIHTC financial model in Excel, TILT supports federal and state credit layers plus bridge loan logic. It also handles C-PACE alongside a construction loan, TIF as pay-as-you-go or bond, grant infusions across up to 20 dates, alternative loans, and separate land and 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.

Pricing is a base model plus a la carte add-ons such as C-PACE, TIF, LIHTC, alternative loans, and multi-date exit. The base model covers one property type with standard functionality. The license covers your company rather than individual seats.

Yes. We can transfer your existing rent roll, unit mix, and cost budget into the model for you on an hourly basis, so you're not retyping hundreds of line items to get your first deal running. Your deal information stays confidential.

Continuously. We work on the model every day, and improvements ship as they're built rather than in annual releases. When a client asks for something that belongs in the standard model, it usually ends up there.

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), we build it in on an hourly basis. Custom work is a normal part of how TILT works.

Yes. Through RE Analyst services, we work as part of your team: we populate the model from your raw data or OM and act as a third-party check on the numbers, prepare offering memorandums and investor decks, and build custom models for deals a standard template can't handle. It's hourly or retainer, per deal or ongoing.

Each TILT model includes up to one hour of working time with Justin in total. You can use 15 to 30 minutes before buying to run your deal structure through the model; that time counts toward the hour, and the remainder can be used to set up your first project. Ongoing technical support ("what does this cell do," "how do I enable macros") is free. Hourly help is available if you want Justin on the line for project input or analysis.

Microsoft Excel 365 on Windows or Mac, with macros enabled. It's a standard workbook that runs on your own computer. There's nothing to install and nothing runs in the cloud.

Tell us what you need through the form below. You can first book a complimentary 15 to 30 minute screen-share to test your deal structure. If you buy, that time counts toward the model's one included hour with Justin. The model is typically delivered within 24 hours, longer if your quote includes custom work.