Welcome to your interview.
The question is on your right: IRR vs Cap Rates. Take a moment with it first.
Talk your thinking through with me if you like - when you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes). Discussion and graded submissions share your five interviewer interactions, so spend them well.
How would you explain the difference between IRR (Internal Rate of Return) and Cap Rates to a non-financial stakeholder at Welltower?