All templates utilize the sponsor (GP) / investor (LP) dynamic.
The first template is a one-pager cash flow waterfall with 3 IRR Hurdles. Simply enter in the project total contributions and distributions per period, fill out the hurdle rates / split percentages, and the formulas do all the rest. This is a clean view for each tier and in aggregate.
The soft and hard preferred equity and preferred return templates are based on the user simply plugging in cash contributions distributions from year 0 to 10 and then all the logic takes place. The preferred equity has a subordinate IRR hurdle waterfall as well that can have its own preferred leg (soft or hard) and the pref. is like mezzanine debt in this scenario.
One interesting template in this bundle is the preferred equity model that looks at an equity multiple as a hurdle rather than an IRR. This can sometimes be easier to understand for investors or sponsors if they don't see this sort of structure all the time. Anyway, that model has cash split at a defined rate until all investor funds are repaid (it could be 100% / 0% or what have you) and then all cash is split at a new rate up to a certain equity multiple being attained by the investor. Finally, after the equity multiple is achieved, cash is split at a final rate.
There is also a monthly-based IRR hurdle waterfall structure built a few different ways and includes sensitivity for up to 5 scenarios that all go through their own waterfall cash distribution schedule as well as one template that lets the sponsor pool have two different hurdle rates / contribution levels.
The self storage model is one of the best I ever built. I included it here because the final results were run through an IRR hurdle waterfall for each deal individually (up to 6 over the model timeline) and the user can view it as the investor or the sponsor on an individual deal basis as well as in aggregate. The cool thing about this template is that the user can see what happens if they start with a single initial investment, to a deal, exit, and then use the proceeds for the next deal and so on without every adding new equity.
Finally, there is a traditional multifamily real estate model that has a regular IRR hurdle waterfall distribution schedule linked into it. The model goes out for up to 10 years and includes dynamic logic for an initial loan as well as a ReFi loan. The terms can include an interest-only period as well. This has recently been updated to allow for up to 4 properties to be analyzed on the same workbook.
There is a cumulative distribution cash flow waterfall that has tiers based on total cash distributed to the investor. This is not based on any IRR hurdles but rather total cash distributed.
*Latest template added to this: Multi-member fund (crypto/stock multi-member investment manager tracking template)
