Certificate in Real Estate Finance and Investments

Badge awarded to

Mario Hinojosa Ternero

Issued on 14 Apr 2026 by

ESCP Business School Madrid

This badge certifies that you have successfully completed the online Certificate in Real Estate Finance and Investments at ESCP Business School. This certifies that you have developed practical, job-relevant skills in real estate finance and investments. The programme covers Excel-based pro-forma analysis and valuation, mortgage design and debt calculations (including prepayment), refinancing strategies, capital structure analysis, and advanced real estate waterfall modeling in Excel. It also includes core real estate economics with a focus on business cycles and the financial feasibility of affordable housing development, including the role of financial and fiscal subsidies. We are aware that visibility is important for your career, so we have habilitated the following link for you to share the certificate in social media. Congratulations! Best regards,

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Achievement Type	Badge
Field of Study	Real Estate Finance & Investments

Issuer

ESCP Business School Madrid

dgarcia@escp.eu

Criteria

This badge is awarded to participants who successfully complete the online programme and demonstrate competency in real estate finance, investments, and economics, including:

### Competencies demonstrated

Use Excel to build pro-forma analyses and apply valuation methods for income-producing properties.
Understand and design mortgage structures for investors, including repayment features and constraints.
Calculate mortgage debt with prepayment options and evaluate their financial implications.
Evaluate and execute debt refinancing strategies and assess outcomes across scenarios.
Explain the role of debt in real estate, including its benefits, risks, and trade-offs.
Determine and calculate capital structures for real estate assets (debt/equity mix, layered capital).
Model and calculate cash flows under varying capital structures and scenarios using Excel.
Build advanced real estate “waterfall” spreadsheets in Excel for multiple deal structures and investor allocations.
Run financial feasibility analyses for real estate developments.
Assess the impact of financial and fiscal subsidies on the feasibility of affordable housing developments.
Interpret real estate markets through core economic forces and real estate business cycles.

### Completion requirements

Complete 40 hours of online learning content across five modules, including interactive materials, activities, and videos.
Complete required learning activities and any end-of-module checks/assessments established by the programme.

### Instructor

Taught by Dr. Jaime Luque, Full Professor of Real Estate at ESCP Business School, holder of the Real Estate Tech Innovation Chair.