Page 8 - MONECO Financial Training Catalogue
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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.
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