Hi, has anyone done a super day with JBG Smith in an RE acquisitions role? Just like to know what I can expect in terms of the interviews. More specifically:
1.) What kind of stuff do they like to ask in the behavorial interviews? (I'd like to know what type of person they're looking for.
2.) I understand that there will likely be a real estate modeling test. What can I expect here? Will it be a more case study type deal where I present it as well or is it just a test of real estate modeling / waterfalls?
a.) Will there be an Argus test as well?
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why real estate, tell me about yourself, where would you invest 100M today
Modeling excel test is common, usually multifamily. Know general debt.
No Argus test that i am aware of for any company
Thanks Chekdastack
1.) In terms of the $100 mm question, guessing the way to approach that is asset allocation to diversify your income streams? I have an idea of what I would approach thi, but how would you go about answering this? 2.) For the modeling test, is it basically just getting to levered FCF and then doing a waterfall based on promote splits?
I would be very surprised if they asked you to model a waterfall for a entry level role. getting to levered fcf and being able to answer and show return metrics (IRR and Eqity multiple) should be enough.
For the $100M, diversifying is a pro but be passionate about what you choose. there is no wrong answer in reality. if you pick industial, be able to tell them why and where and back up your answer
If you buy a building at a 6% cap rate and you finance it using 50% debt, what’s the cash on cash return in year one?
Thanks JSmithRE2010 , assuming that they would give me NOI / interest rate so that I could get to levered FCF?
They’ll give an interest rate but not NOI. That’s the trick part
The CoC return is the same regardless if it’s a $100mil building or $1mil building. This is a very common interview question for real estate firms
Different role, but they asked to fully model an acquisition/disposition of a retail property in about 45 mins.. and due to computer issues, I ended up with 30 mins.
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