CRE Case Studies Modeled After Real Interview Tests
Practice acquisition, value-add, development and credit case studies modeled after the real ones firms give candidates in CRE interview processes, so nothing on test day feels new.
- Deal TypesAcquisition, Value-Add, Development, Credit
- FormatsTimed and Take-Home
- Modeled AfterReal Interview Case Studies
Three Kinds of Case Studies You Will Be Given
Firms test the same skills in different amounts of time. Knowing the format tells you how much detail the grader expects.
1-Hour Timed Test
A short property summary and a blank workbook. Build a clean pro forma, size the loan and get to a levered IRR and a bid. Speed and structure matter most.
2 to 3-Hour Modeling Test
A fuller package with a rent roll, operating history and debt terms. Expect monthly or annual cash flows, a waterfall or refinance, and sensitivity tables.
Take-Home Case
Several days to build a model and write an investment memo or short deck. Judgment and how you present the recommendation count as much as the math.
Practice Case Studies
Every case is modeled after case studies candidates are given in real interview processes, from REPE and REITs to development and private credit. Filter by the role you are interviewing for. New case studies are in production, so join the list below and you will be the first to know when each one goes live.
Multifamily Acquisition Case Study
Underwrite a stabilized 120-unit apartment community: build the pro forma, size the loan and decide whether the deal clears the fund's return target.
- 1-hour timed format
- Pro forma, debt sizing and returns
- Maximum bid price and DSCR check
Value-Add Case Study
Model a renovation plan with unit turns, rent premiums, a capex budget and a refinance at stabilization, then decide whether the business plan works.
- Renovation pace and rent lift
- Capex reserves and refinance
- Levered returns by scenario
Development Case Study
Take a ground-up project from land and budget through construction draws, lease-up and a permanent loan, then test the yield on cost against the exit.
- Budget, draws and interest reserve
- Lease-up and stabilization
- Yield on cost and development spread
Loan Underwriting Case Study
Size and structure a loan from the lender's side: DSCR, debt yield and LTV tests, a downside case and a credit memo recommending terms.
- Loan sizing to the binding constraint
- Downside and stress cases
- Credit memo and term sheet
Work Every Case the Way You Will Be Tested
Set a Clock
Read the prompt once, note what the firm is asking for, and give yourself the same time limit you would have in the interview.
Build From Blank
Start from an empty workbook. Inputs on one side, the pro forma, debt and returns flowing from them, nothing hard-coded.
Make the Call
Write two or three sentences: invest or pass, at what price, and the one or two risks that would change your mind.
Review and Repeat
Go back through your build, note where you lost time or got stuck, and run it again until it feels routine. Want a second set of eyes? Book a 1-on-1 Review.
Watch a 1-Hour Acquisition Case Solved Live
A simple retail acquisition model built from scratch with Excel shortcuts and dynamic formulas. This is the level of speed and structure a timed test expects.
Real Estate Case Study FAQ
What Is a Real Estate Case Study Interview?
It is a modeling test that firms use in real estate private equity, acquisitions, development and lending interviews. You get a short package on a property, build a model in Excel, and make a recommendation on whether to invest and at what price.
How Long Are CRE Modeling Tests?
Most fall into three formats: a 1-hour timed test, a 2 to 3-hour modeling test, and a take-home case that runs several days and usually adds a memo or presentation.
Are These Real Interview Case Studies?
Each case study is modeled after a real case used in CRE interview processes and includes the case document: the prompt, the property package and the deliverables the firm expects, exactly as a candidate would receive them.
Can You Help Me With a Case Study I Have Been Assigned?
Yes. In a 1-on-1 session we explain the concepts, model alongside you and review your work so you understand it. We do not complete assignments for you.
Does the Course Include Case Studies?
Yes. The real estate financial modeling course includes three full case studies, an acquisition, a value-add with a refinance and a ground-up development, each built end to end with the finished workbooks included.
Be First When New Case Studies Go Live
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