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Description

Investment Analysis for Non-Listed Real Estate Investments

, Online

Investment analysis is a critical function in ensuring robust underwriting of acquisitions and maximising the income performance of assets. This online course, which takes place in two-hour sessions over four days, will use a combination of theory, an illustrative cash-flow model and a case study, to demonstrate best practice modelling techniques within real estate. It will consider the inputs and outcomes of cash-flow modelling, as well as examining limitations and how to critique results.

The INREV Investment Analysis online course starts with a bottom-up approach from the asset to the fund level, while later focusing on the impact of issues such as debt, tax structuring and fees. The final session brings all the elements together in a case study.

The course will include the following topics:

  • Investment analysis essentials including a high level understanding of cognitive biases in decision making
  • Key model inputs for real estate cash-flow analysis and model set-up
  • In-depth analysis of the impact of debt financing
  • The impact of taxes and structuring on real estate returns
  • The effect of specific fund fee structures and levels on returns to investors

The course will include presentations by industry experts, group discussions and a case study to allow participants to share their views. 

Who should attend the course?
This course is aimed at individuals involved in investment analysis at both the asset and fund level. This could include junior analysts or more experienced individuals wishing to get an update on cash-flow analysis for real estate. The course will be of interest for investors, investment managers and advisers, specifically acquisition, asset managers and lenders.

Attendees should already have a good competency level in finance and be familiar with Excel-based techniques for cashflow modelling. Please note that this is not and Excel cash-flow modelling course.

Upon completion of the seminar participants will be able to:

  • Identify and understand the limitations involved with modelling techniques;
  • Benefit from improved or refreshed technical skills for investment analysis;
  • Better critique the underlying assumptions and outcomes of models;
  • Understand the current landscape surrounding debt financing;
  • Have a high level overview of the impact of taxes and structuring;
  • Benefit from an improved understanding of fund fee structures and performance fees.

This course is open to INREV members and non-members and counts towards the INREV/ Henley Certificate for Non-listed Real Estate Investments.

Where

Where

Online

Programme

Fees & Terms

Fees

Online Course for INREV members (€ 350)

Terms and conditions

Fee non-members: €450

General

1.1. This INREV training course is open to INREV members and non-members.  

1.2. For all attendees, the Membership Terms and Conditions fully apply. In the event of any conflict or inconsistency between any provisions of these course Terms and Conditions and the Membership Terms and Conditions, first these course Terms and Conditions and then the Membership Terms and Conditions shall prevail.

1.3. Attendees will hereinafter together be referred to as “Applicants”.

1.4. The costs of attending the training course (Attendance Fee) is €350 for members and €450 for non-members.

1.5. Admission to this course is subject to registration and subsequent written confirmation of that registration by INREV. Please note that limited seats per organisation are available (limited to three seats per member organisation and one seat per non-member organisation).

1.6. All personal data provided to INREV by Applicants, during the application process or afterwards, will be processed in accordance with the Privacy Statement of INREV, which can be found on the INREV website.

 

Cancellation and attendance policy

2.1. After registration for the online course, cancellation is possible if that cancellation request is written to training@inrev.org before Monday 31 October 2022

2.2 In case of a no-show the full course fee is due.

2.3 To deliver a successful course, active contribution is of huge importance and therefore we expect participants to attend all sessions live (incl. the break-out sessions and case studies). If you fail to attend a session, we are regrettably unable to grand you with the course Certificate of Attendance.

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