Hi all, I have an upcoming interview with a group that focuses on corporate and real estate lending, mostly primary financing and acquisitions of distressed secondary loans. Occasionally, they make equity investments in real estate as well. To provide some context, I have worked half a year in the RE brokerage/capital markets industry and graduated from a target school. I anticipate they will mostly focus on real estate debt underwriting. I am already familiar with debt service, debt yield, and basic debt underwriting. What type of questions do you expect I will get?

In real estate, as you are aware, NOI is used to underwrite the loan, hence DSC and DY. In corporate lending, you'll have EBITDA and variations of it such as EBITDAR, depending on the industry. If your acquiring distressed loans, you are acquiring them at a discount typically and look to see collateral value. The idea is if you buy at a certain discount, you can make a hefty profit if the business turns around or if you are able to foreclose. In real estate, its simple, collateral is the property. In corporate lending, collateral could be anything from inventory to A/R.

Interview with a Corporate and Real Estate Lending Group

teddythebear

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Interview with a Corporate and Real Estate Lending Group

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