EDUCATIONAL PROGRAM CPM: 3 BLOCK PROGRAM

Educational program
CPM: CERTIFIED PROPERTY MANAGER
3 BLOCK PROGRAMM

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

Instructor: 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.

3rd BLOCK PROGRAM

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

Registration:
Lubov Borodulina
+7 (812) 640-60-70
+7 (495) 668-09-37
coordinator@proestate.ru