Educational program

September 30 – October 04, 2015
Venue: Crowne Plaza St. Petersburg – Ligovsky 4*, 61, Ligovsky pr., St. Petersburg

IvanovInstructor: Alexander Ivanov, CPM ®, Managing Partner, Grant Thornton Corporate Finance.
In 1994 graduated from the Moscow State University. In 1995 he established the Russian Valuation Company, which has become one of the leaders in property valuation market. In 1998 Mr. Ivanov received CPM degree and in 1999 got accreditation of the IREM instructor. He also has CCIM, RICS and TEGOVA degrees. Mr. Ivanov has wide experience in real estate consulting. He has implemented many investment, valuation, concept design and financing projects.


ASM603 – Investment Real Estate Financing and Valuation – Part One
Economics of real estate investment. Financial goals and objectives of the owner, macroeconomic influences on real estate investment
Sources of financing. Public and private lenders, lender perceptions and requirements
Loan calculation. Loan types, loan amortization, effective interest rate calculation
Loan analysis. Loan-to-value, debt coverage, leverage applications
Property valuation and capitalization rates. Appraisal methods, capitalization rates, mortgage equity analysis, equity residual model

ASM604 – Investment Real Estate Financing and Valuation – Part Two
The time value of money. Components and calculations of TVM
Discounted cash flow and leases. Financial impact of lease concessions, lease buyouts, lease proposal comparisons
Discounted cash flow and valuation. DCF analysis vs. capitalization, market value calculation, investment value calculation
Measures of investment return. Cash-on-cash return, value enhancement, net present value, internal rate of return
Mid-stream analysis. Reasons for conducting a mid-stream analysis, mid-stream analysis calculations

ASM605 – Investment Real Estate Financing and Valuation – Part Three
Before-tax cash flow. Applying concepts to conduct cash flow analysis
Analysis of alternatives. Testing potential courses of action for a property
Making a recommendation. Determining the best alternative given ownership goals
Taxation. Overview of taxation and its impact on real estate


Lubov Borodulina
+7 (812) 640-60-70
+7 (495) 668-09-37

Business tour Helsinki – St. Petersburg
Technologies of the North: construction and management of buildings

September 21 – 25, 2015
General partner: YIT
Partners: VTB Development, SRV, NAI Becar, BTK Development *
*To be confirmed

Four-day program includes visits to:
• New residential and commercial projects of St. Petersburg (1 day)
• Completed and under construction projects in Helsinki (3 days): commercial, residential, mixed-use projects and social infrastructure (elderly care homes, school, student campuses)

• Master planning with functional allocations
• Development in historical areas
• Management of mixed-use projects
• Residential project of different price ranges
• Energy efficient technologies, infrastructure, engineering systems, finishing

Projects in St. Petersburg*:

1 Nevskaya Ratusha – public and business center (VTB Development)
2 Smolny prospect – premium class residential complex (YIT Lentek)
3 Au pont rouge – mixed-use development (BTK Development)
4 NAI Becar apartment projects

Projects in Helsinki*:

5 Merenkulkijanranta residential complex – coastal development
6 Large-scale mixed-use project Dixi – includes shopping mall, office property.
7 Tripla mixed-use development in Pasila district, includes shopping mall, offices, hotels, apartments, transport hub.
8 Business park Avia Forum

Other projects*:

*To be confirmed


Business tour program:
Christina Yudina
+7 (812) 640-60-70

Anna Rytova
+7 (812) 640-60-70
+7 (495) 668-09-37

Academy of Real Estate invites you to participate in the annual Capacity building conference “Warehouse management”. It will take place on April 24, 2015 at ARTPLAY (10, Nizhnyaya Syromyatnicheskaya str., Moscow). The leading experts will discuss the most acute problems of owners and management companies, share experience and find solutions for warehouse management in the times of crisis.

The event is organized by: Academy of Real Estate (ARE), supported by PROEstate Events and the Russian Guild of Property Managers and Developers.

Each owner of warehouse property is interested to get stable income, retain tenants in the times of crisis, optimize operational costs, decrease project prime cost.

The program will also include information about the current tendencies in:

  • tenant needs (location, size, format)
  • rent rates, bonuses for tenants
  • conditions of rent agreements
  • forecasts for warehousing market 2015
  • staff optimization
  • new equipment: to buy, or nor not to buy
  • taxes: cadastral value of land plots

Invited speakers:

  • Vyacheslav Holopov, Partner and Director for Office and Warehouse Property of Knight Frank Russian and CIS
  • Ilia Pronichkin, Head of the tenants’ department of MLP
  • Aleksander Perfiliev, Commercial Director of Warehouse and Industrial property of Accent Property Menagement;
  • Olga Mironova, Commercial Director of Dega Group;
  • Aleksander Mamunin, Commercial Director Александр Мамунин, коммерческий директор направления индустриальной недвижимости компании PPF;
  • Ekaterina Leksina, Head of Marketing Department of FM-Kraft Management company
  • Artem Pichugov, MRICS, Head of Management department of Radius Group
  • Aleksander Kuzin, Senior Consultant of Warehouse and Industrial property of CBRE
  • Sergey Kazinets, Partner of the law firm AVELAN
  • Olga Gavrilova, Deputy Director for work with clients of MD company

To learn more about the event please visit the web-site:

Leading experts discussed advantages of BIM-technologies at the annual capacity building conference: “Construction management”.

Building information modeling (BIM) is a process involving the generation and management of digital representations of physical and functional characteristics of a construction project on all stages of its lifecycle – from project planning to operation and demolition.

Marina Korol, MAAM Professor, General Director of Concurator, Executive director of Non-commercial Partnership Intellectual construction, believes that BIM is an advanced technology, which has already proved its relevance and importance on the state level.

According to Sergey Volkov, Managing Partner of Smart Innovative Building Solutions, Building information modeling is a new integrated visual approach to information analysis and management. The technology is most relevant in the times of crisis when the business is trying to reduce costs and increase efficiency.

Raymond Fadel, Regional Director of AECOM, confirmed that BIM-technologies help to save time and money, enable to foresee possible risks.
Konstantin Zakharov, Manager for Business Development at Autodesk, assures that by means of applying BIM-technologies it is possible to cut project costs by 10-30% at the stage of construction. Moreover, building information modeling helps to reduce time for project documentation preparation by 5 months and time for design – in 2 times.

Berksan Buyukyildiz, Managing Partner of Orteksan, shared plans of Turkish construction companies to launch joint projects with some Russian real estate companies. Partnership contract signing will be held in Moscow at the International Real Estate Investment forum PROESTATE.
To see the whole episode at RBC TV, follow the link.