REIT Analyst Modeling Assessment

I have an upcoming assessment for a REIT analyst role specializing in retail.

A quick description of the role include:
Assembling / Maintaining property pro-forma models;
Analyze potential leases with CF projections and sensitivity analyses
Analyze potential lease deals for value

HR mentioned an assessment to judge the use of excel and to mimic parts of the job. I come from a different background and have very limited knowledge other than the knowledge gained from CFA I/II; What're some things to expect in this upcoming assessment and does anyone have a working sample of what to expect? Appreciate the feedback.

Real Estate Modeling Course

  • Real-life RE Modeling Tests from actual Interviews
  • Various asset classes including multi-family, commercial and more
  • Huge discount - until more tests and cases added

Comments (4)

Most Helpful
Sep 20, 2018 - 5:24pm

Kind of sounds like an asset management analyst role? If you are going to be modelling leases, I would just be familiar with how to model a lease cash flow (rent (and straightline adjustment since this is a reit), plus CAM reimbursements, minus expenses) and return concepts like IRR, NPV, payback period, incremental yield, and calculating FFO impact. Might not hurt to be familiar with percentage rent and how that is generally treated, given that this is a retail.

Sep 26, 2018 - 1:39am

I've had excel tests at brokerage interviews (HFF/Eastdil) that consisted of one section dedicated to showing knowledge of basic functions: SUMIF, VLOOKUP, INDEXMATCH, etc - And one section dedicated to building a very simple pro-forma and DCF valuation with given inputs. They aren't going to try and grill you on complex modeling stuff for an analyst roll so dont worry too much. Just understand how to populate a retail pro forma and maybe to create a data table for IRRs vs Exit Caps or Purchase Price at most. PM me if you need anything else

Start Discussion

Total Avg Compensation

April 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (32) $350
  • Associates (180) $232
  • 2nd Year Analyst (102) $151
  • 3rd+ Year Analyst (25) $146
  • Intern/Summer Associate (95) $145
  • 1st Year Analyst (387) $131
  • Intern/Summer Analyst (315) $82