The INREV Investment Analysis course was held in Paris on 2–3 December 2025, bringing together 25 participants for an interactive programme focused on strengthening underwriting and investment decision-making skills in non-listed real estate.
Led by Marianne Hemon-Laurens (LaSalle Investment Management), the course combined expert-led presentations with discussions and a practical case study. Participants explored key aspects of investment analysis and their impact on cashflow models, including debt, tax, and fund fee structures, with a strong focus on real-world application. Speakers shared many personal investment experiences and deal stories that were highlighted by attendees as a key strength of the programme.
Here are the topics our speakers highlighted:
- Simone Pozzato (Hines) – discussed cashflow model inputs, value drivers, exit mechanics and error checks to avoid common pitfalls
- Sally Hurst (M&G Real Estate) – shared the borrower perspective on commercial real estate debt strategies and negotiation essentials
- Lizzie Dean (Brookfield Properties) – shared an overview of the current tax landscape and impact on deal structuring and cash flows
- Laurens-Jan Portier (a.s.r. Real Assets Investment Partners) – presented different fund fee structures and how investors reviewed them, plus practical examples
The course had high engagement throughout the programme, and participants valued the networking opportunities with peers, including a course dinner.
The course also coincided with INREV’s first-ever Soirée de Noël in Paris, bringing together our members in France. Attendees enjoyed festive drinks at the Hoxton Paris, as well as a property tour of Bergère, a landmark workspace in development in the 9th Arrondissement, providing a unique opportunity to combine industry insights with social connection. A special thanks to LaSalle Investment Management for co-hosting and sponsoring this event.
