Pro Forma II: Investment Waterfalls - Spring 2025
Modeling investment waterfalls is the most complex task in developing a pro forma, but it doesn’t need to intimidate you. In this course, you will develop the skills to be able to produce your own investment waterfall pro forma.
Charles Tu
Daniel F. Mulvihill Endowed Chair of Real Estate, University of San Diego - Knauss School of Business
Registration for this course closes April 8, 2025.
Pricing:
- ULI Members: $395
- ULI Members (Government/NonProfit/Academic): 11% off Member Price
- Non-Members: $525
Topics
Overview
This course takes you from the point of being capable of modeling a basic development or investment pro forma, to being able to model investment waterfalls in the context of advanced analytics and sensitivities testing. Develop and hone your analytical skills while learning to model investment pro formas involving multiple investors with different stakes and deals.
Learning Objectives
Upon completion of this course, you will:
- Understand how to test your pro forma’s sensitivities to avoid costly errors.
- Model investment waterfalls to plan distributions to equity partners.
- Analyze a complex pro forma.
This course counts towards the Pro Forma Fundamentals Certificate - Winter 2025.
To earn a certificate, you can complete courses in live, on-demand, or hybrid (live + on-demand) formats. Purchase the full certificate upfront or enroll in individual courses over time. If you upgrade from individual courses to a full certificate, you may qualify for a prorated price. Contact learning@uli.org to explore your options.
Format
This course includes three live online Q&A Sessions with the instructor in addition to on-demand content.
- Tuesday, April 1, 2025 from 12-1pm EST
- Thursday, April 3, 2025 from 12-1pm EST
- Tuesday, April 8, 2025 from 12-1pm EST
* Please note that all live courses have a 180-day access period from the date of the first live session, unless purchased as part of a certificate. If you have any questions, please reach out to learning@uli.org.
Instructor
Charles Tu
Daniel F. Mulvihill Endowed Chair of Real Estate, University of San Diego - Knauss School of Business
A dedicated and passionate teacher, Dr. Tu has taught many courses at the graduate, undergraduate and professional levels. His expertise is in finance-related subjects, such as real estate finance and investment, asset management, capital markets, and financial modeling. Dr. Tu produced academic research in a wide range of topics, including housing valuation, smart growth and the new urbanism, sustainable and green buildings, commercial mortgage-backed securities (CMBS), real estate investment trusts (REITs), multifamily housing, retail shopping centers, and real estate education. He has also published with ULI. Dr. Tu received his PhD from George Washington University and earned the Chartered Financial Analyst (CFA) designation.
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