Page 8 - MONECO Financial Training Catalogue

COMMERCIAL REAL ESTATE VALUATION

DATES: October 14 – 15, 2024 • PRICES: € 1,260 In-class, € 945 Online • LOCATION: Prague and Online
Attend this intensive 2-day training program and learn:

• How valuers use traditional Course Description:
and modern methods to Real estate valuation reports can be opaque and difficult to decipher and yet are
appraise property a crucial element of the world of investment and development. This course will
develop skills by taking participants through the process of preparing commercial
• The differing techniques property valuations. Participants will be introduced to basic valuation approaches
to valuing various property and how to identify the key drivers of real estate value. Building on the initial theory,
types more sophisticated methods will be covered that combine in the production of high-
quality valuation reports.
• What is meant by an IVS Each session will provide an insight to the valuation profession looking at the
compliant valuation report? procedures followed by property valuation experts. Day 1 will introduce you to
the main concepts, offering an overview of the methodologies employed in the
• How to interpret the results appraisal of real estate as well as the main regulatory frameworks. Day 2 will provide
through better understanding an opportunity to examine practical examples that will include development sites,
of the underlying inputs and leisure properties and multi-tenant assets.
assumptions What is the goal of this training?
• Valuation of development This training will be of interest to practicing and novice valuers, as well as those that
use valuation reports and stakeholders in the real estate investment process. The
sites training will also bridge the gap between users of property valuation reports and the
valuers who prepare them. This will ensure the instruction and report processes will
• How to approach the run smoother, saving time and expense. You will learn the relevance of real estate as
valuation of emerging real an investment medium, particularly relevant as the availability and sophistication of
estate asset classes property investment products continues to grow.
• Current trends in the pan- Who should attend? • Investors • Property Analysts
European property market • Fund Managers • Real Estate Financers
• Asset Managers
• Valuation Professionals
MONDAY, OCTOBER 14 • Valuations for secured lending, • Discounted Cash Flow (DCF) model for
00
09 – 09 10 valuations for financial reporting RE
Welcome and Introduction Case study: Comparison of methods • Internal Rate of Return v NPV
10
09 –12 15 • Worth or Value, Appraisal or Valuation?
15
Section 1: Introduction to Property 12 –13 15 Case study: Valuation of single-let
Valuation Lunch investment using modern methods,
15
• Run through of topics for the two 13 –17 00 comparison and discussion
days. Section 3: Starting small – valuation
• Warm up exercise – “Why do we of a single-let property (Investment TUESDAY, OCTOBER 15
00
need to value property?” method) 09 –12 15
• Property as an Asset Section 5: Development Valuation
• Market conditions in CEE Inputs • Warm up exercise – “Value sensitive
• ntroduction to methods of property • Consider and compare lease terms factors – discussion”
valuation • Calculation of a suitable capitalisation • Stages of development
• Overview of main organisations that rate • Traditional Methods
regulate Real Estate Valuation, IPMS, • Valuation Arithmetic (PV, Year’s • Modern Methods
Ethics Purchase, growth) • Comparison
Case study: Consideration of Case study: Valuation of development
comparable buildings – what features Outputs site
drive value? • Initial yield
• Reversionary yield Section 6: Multi-let Properties
Section 2: Commercial Real Estate • Equivalent yield • Valuing multi-let assets
Valuation Methods and Bases • Equated yield • WAULT and Running yield
• Commercial Real Estate valuation Case study: Valuation of a single-let • Valuation specifics by property type –
methods investment opportunity, calculation of inherent differences between the main
• UK model – 5 traditional methods of equivalent and equated yields sectors
valuation plus modern methods Case study: Shopping centre valuation
• US/International model – 3 Section 4: Growth Explicit Models – qualitative v quantitative measures
approaches of Valuation and their effects on valuation
• How methods affect value • Cash flow for real estate investments
• Growth implicit methods v Growth • Discount rate
Explicit methods • Net Operating Income
• Worth v Price v Value
8 Hybrid course – both classroom and online training available.