Apers Open Models Project
The Apers Open Model Collection.
Closing the gap between scratching on the back of an envelope and keying in Argus for hours.
FILTER BY ASSET
FILTER BY DEPTH
Pocket screeners
Single-tab screeners for the top of the funnel. Triage a deal in twenty minutes with the inputs a broker teaser actually gives you.
AQ-001
Quick Acquisition Screener
Underwrite acquisition teasers into pass/no-pass verdicts with levered returns, debt coverage, and sensitivity output. A 1-page screening package: going-in cap rate, stabilized NOI, levered IRR, equity multiple, DSCR, and a 5x5 sensitivity matrix.
View →AN-004
Bulk Deal Screening Workbook
A horizontal screening grid for rapidly triaging a large batch of deals on a single sheet.
View →AQ-110
Multifamily Core/Core-Plus Pocket Model
Underwrite stabilized multifamily acquisitions with a single-sheet core pro forma and return summary.
View →AQ-130
Multifamily Value-Add Pocket Model
Underwrite value-add multifamily acquisitions on a single sheet with 5-year annual projections.
View →AQ-200
Office Lease Rollover Pocket Model
A high-velocity screener for office acquisitions. Lease rollover is simplified to an average annual percentage of square footage rather than modeled lease-by-lease. Built for triage, not IC-ready underwriting.
View →AQ-300
Retail Shopping Center Pocket Model
A single-tab retail shopping center screener that splits gross leasable area between anchor and shop space.
View →Boutique
Mid-market pro formas
The right level of structure for deals that don't need a full institutional pro forma. Unit-level rent rolls, 5-year cash flows, real debt mechanics.
Institutional
Full underwriting models
When the deal needs the full kit. Monthly cash flows, multi-tier waterfalls, scenario engines, refinance mechanics, and the detail an institutional LP will ask for in diligence.
CS-001
Multi-Class Equity Waterfall
Sophisticated distribution waterfall for complex capital structures with multiple investor classes, preferred returns (compounding annually), GP catch-up, and three IRR-tested promote tiers. Built for funds and JVs with multi-class equity, GP promote, and clawback provisions.
View →DV-002
Redevelopment / Adaptive Reuse Model
A merchant-build pro forma for converting an existing building to a new use (office-to-residential, retail-to-multifamily). Models monthly construction draws, capitalized interest reserve, and exit at stabilization.
View →TX-101
Low-Income Housing Tax Credit (LIHTC) Screening Model
Affordable housing development model for 4% or 9% LIHTC deals.
View →AQ-301
Anchored Retail Shopping Center Model
A 10-year acquisition pro forma for grocery- or big-box-anchored retail centers. Supports up to 50 tenants with anchor / junior anchor / shop / pad segmentation, four lease recovery types (NNN, Modified Gross, Base-Year Stop, Gross), sales-based percentage rent, and simple debt sizing for levered returns.
View →AQ-211
Office Core Pro Forma Model
A full underwriting model for stabilized, core office acquisitions with institutional-quality tenant rosters and long weighted-average lease terms.
View →DV-001
Ground-Up Development Model
Ground-up development pro forma for multifamily and commercial assets.
View →DV-003
Construction-to-Perm Loan Transition Model
Tracks the financing transition from a construction loan to permanent financing at stabilization.
View →DV-004
Construction Project Cost Tracker
Project cost ledger that tracks budgeted, committed, and spent amounts at the GL line-item level from land closing through stabilization. Designed as the single source of truth for development costs and the handoff bridge into the DV-1xx pro forma series.
View →AQ-401
Industrial Warehouse / Distribution Center Model
Underwrite industrial warehouse and distribution center acquisitions with a 10-year cash flow projection.
View →AQ-201
Office Full-Service Lease Rollover Model
Detailed monthly cash flow model for multi-tenant office properties with complex lease rollover schedules, TI/LC packages, and free rent periods. Supports up to 50 tenants over a 120-month horizon with full-service gross (FSG) lease economics. Probability-weighted or binary rollover logic toggles between a blended retention model and explicit per-tenant renew/vacate decisions.
View →AQ-141
Multifamily Opportunistic Pro Forma Model
Underwrite distressed or heavy-lift multifamily acquisitions requiring significant capital investment and extended lease-up. Phased renovation draws, S-curve absorption, bridge-to-permanent refinance, and GP/LP waterfall distribution.
View →AQ-131
Multifamily Value-Add Pro Forma Model
Underwrite value-add multifamily acquisitions with 10-year monthly cash flow projections and phased renovation modeling.
View →AQ-132
Multifamily Value-Add Affordable/Workforce Variant
Underwrite value-add acquisitions of affordable and workforce multifamily properties with AMI-constrained rent growth across 4 income tiers.
View →AQ-331
Retail Value-Add Pro Forma
Underwrite retail strip center acquisitions involving repositioning, re-tenanting, and outparcel development over a user-defined hold period.
View →No models in this asset class yet. Show all models →