Net Asset Value (NAV) is a critical measure of the value of a real estate vehicle, providing investors and managers with comparable insights into portfolio performance. To support consistency across accounting principles and reflect a more accurate economic value, INREV NAV was developed as a harmonised standard.
The 2019 NAV Comparison Paper examined differences in accounting NAV practices across regions and explored how a global NAV standard could enhance strategic decision-making for investors. Building on this, the 2020 GAAP Comparison Templates provide detailed guidance for reconciling local GAAP and other accounting conventions—including UK GAAP, Lux GAAP, German GAAP, NCREIF PREA RS, and EPRA—with INREV NAV. These templates help adjust for fair value, cost spreading, and multi-generational investor considerations.
In 2025, INREV published new Q&A guidance addressing both the treatment of goodwill and deferred tax liabilities (DTL). The Goodwill Q&A clarifies how to adjust recorded goodwill for differences between IFRS values and the economic value reflected in purchase prices, as well as how to treat other components of goodwill. The DTL guidance specifies that deferred tax liabilities should be measured asset by asset, rather than using a fixed percentage, ensuring alignment with disposal methods, tax structuring, and market conditions.
For professionals seeking a deeper understanding, the INREV Academy offers training courses: the updated eLearning Introduction to INREV NAV module provides foundational knowledge, while the Advanced NAV course (happening soon on 4–5 November 2025 in Amsterdam) delivers in-depth coverage of adjustments, calculations, and practical challenges, facilitated by leading industry experts.
By providing standardised templates, guidance, Q&A, and training, INREV NAV helps investors and managers achieve consistent, transparent, and comparable reporting—strengthening confidence in global non-listed real estate markets.