2024 IAC BV - Counterpoint to DCF as Only Method for RE Holding Companies

Session Description

Some hold the position (such as a presenter at the 2023 ASA Conference) that a discounted cash flow method is the only acceptable way to value interests in real estate holding companies.  In stating that position, the application of a discount for lack of control to the NAV is discarded an unacceptable method of valuation.  This presentation provides counterpoints to some of the assertions in that presentation (and expressed in similar documents/presentations) while discussing an acceptable means of using the NAV and a DLOC.  An income approach is excellent, but that doesn't mean that other approaches are unacceptable.

Speaker

Carla Glass, FASA, CFA

Continuing Education

Review of this session recording will award 1.8 CE hour. 

CPE credit is not awarded for this pre-recorded offering.