7 questions reported in JLL interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
Questions
7
Easy · Medium
5 · 2
Hard
0
Model builds
0
Built in the spreadsheet grid
Asset Management
Leasing spreads, capex programmes, refinancing and hold-sell analysis. 6 questions
How Do You Identify and Implement Expense Reductions?
Easy
Expense reduction directly improves NOI. This tests operational management skills.
What are the common opportunities to reduce operating expenses in commercial real estate, and how do you implement them without hurting tenant satisfaction?
Operating Expense Recoveries and the Reconciliation
Easy
Common in office and retail asset-management interviews because recoveries determine whether an apparent expense overrun reaches NOI.
In a multi-tenant office building, annual controllable operating expenses are $1.20 million. A tenant occupies 10% of the building and its lease requires reimbursement of its pro-rata share of…
An asset-management case after a reassessment creates an unbudgeted NOI shortfall.
A suburban office asset has $8.0 million of annual NOI before property tax. Its tax bill rises from $1.20 million to $1.65 million after a reassessment, while the budget assumed no increase.…
Cap rates, NOI, going-in versus exit yield and levered returns. 1 question
Normalising Comparable Property Sales
Medium
A live underwriting exercise testing whether an analyst can turn transaction data into a credible bid range.
You have three comparable office sales, but one has a long lease to an investment-grade tenant, one is 25% vacant and one includes a parking garage with separate income. How would you use them to…