4 questions reported in Related interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
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Model builds
Built in the spreadsheet grid
Development spreads, cost overruns, lease-up risk and construction draws. 4 questions
Development interviews test whether you understand the risk premium being earned.
Why would a developer build a property rather than buy an existing one? Quantify the return they're targeting and name the risks they're taking.
Development interviews test whether you understand the financing, not just the pro forma.
Walk me through how a construction loan is structured and drawn. What protects the lender?
How a developer decides what a site is worth. And the calculation is unforgiving.
A site can support 200,000 sf of apartments. Stabilised NOI would be $9m, exit cap 5.5%, hard and soft costs $110m, and you require a 20% profit margin on cost. What can you pay for the land?
A development asset-management case after an unexpected field condition threatens a project's budget and delivery date.
During construction, the general contractor submits a $3m change order for subsurface remediation and says it will delay delivery by two months. The project has $2m of contingency remaining. How would…
Write your answer, get it graded on technical accuracy, completeness and communication, and see exactly which mechanic you missed.
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