The definitive resource on
commercial real estate capital

What the site covers

The site explains how money moves into commercial property. Lending and credit pages cover loan terms, debt service coverage, loan to value and the covenants a lender writes into a term sheet. Valuation pages work through cap rates and net operating income. Other pages cover funds and private equity vehicles, plus REITs. Securitization gets its own treatment, with pools and tranches. A separate area covers banks and regulation, including how examiners look at concentration in real estate loans.

Raising capital and vetting partners

Capital raisers will find pages on waterfalls and promote splits, family offices in real estate, sponsor diligence and partner vetting. Calculators and templates sit beside Vetti framework pages for scoring a sponsor’s track record and reading a pro forma.

Explore the site

• CalculatorsCalculators and templates for loan sizing, breakeven, capital stacks, preferred returns and sponsor diligence.
• LearnGuides on lending, valuation, funds, REITs, securitization & the other parts of commercial real estate finance.
• CapitalHow sponsors raise equity and debt, structure the deal and split the profits, and how investors vet the people on the other side.
• QuestionsDirect answers to the questions sponsors, capital raisers and family offices ask most.
• Vetti deal vettingStress tests that show how rates, exit cap rates, reserves & cost overruns change what a deal can take.
• VideosInterviews and talks with practitioners on raising capital and structuring deals.
• InfographicsCharts and diagrams that show how deals, capital stacks and market data fit together.