The industry looks for common metrics to report and compare performance of real estate investment vehicles that operate across different regions of the globe.
However, in practice we use different NAV calculations in different regions. To better understand the differences between IFRS, INREV NAV and US GAAP Fair Value NAV a comparison and first gap analysis was developed by INREV, ANREV, NCREIF and PREA Reporting Standards.
The resulting short paper explains the main differences when calculating NAVs across regions and the potential impact of these differences.
This is an initiative from the Global Standards Steering Committee
This paper summarises the main accounting NAV differences across regional industry practices and looks at whether the development of a global NAV would facilitate strategic decision-making for global investors.