Tax Modelling in REPE

Hi, 

I am sure this has been asked somewhere before but I was unable to find it. Also sure the answer will be obvious but it is right now not clear to me.

I have been looking at sample REPE models (office buildings) and there is no tax modelling at all. It is simply Gross Rent, Net Rental Revenue, NOI and then Operational Cashflows, which are used as the basis for MoM and IRR calculations. Why are taxes not modelled (or depreciations, like in a corporate PE model)? And where would taxes ultimately come in?

Best regards and thanks in advance!

1 Comments
 

Cum quas voluptas est placeat voluptatem nihil qui. Nam voluptas corrupti nobis aut error suscipit. Minus eum placeat labore fuga in autem. Reiciendis sunt est ut voluptatem et.

Sit voluptatibus nostrum saepe earum unde numquam. Et aut minus dolores quaerat repellat ipsa.

Nulla fugit aspernatur quae est ut qui rerum enim. Sit veritatis voluptate dignissimos voluptas quia.

Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 04 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

November 2026 Investment Banking

  • Vice President (17) $409
  • Associates (58) $261
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (29) $183
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (77) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”