Overview:
This commercial seminar is designed to benefit real estate appraisers and brokers in their review and analysis of distressed commercial properties. Basic real estate issues are discussed along with detailed considerations in an attempt to satisfy both the seasoned and entry level real estate analyst. Additionally, students will work through two case studies. All real estate analysts experienced or otherwise, can benefit from the enhanced awareness that appropriately analyzing distressed real estate can have on preparing supportable estimates of value on these type properties. Note: This short class covers commercial properties only.


Syllabus:
Module 1: Identification of the Problem
Module 2: Property-Specific Issues
Module 3: Traditional "As-Is" Market Value Methods
Module 4: Profit - The Missing Component
Module 5: Case Study - Office property
Module 6: Case Study - Retail property

Learning Objectives:

• Review basic physical and functional issues that cause real estate to become distressed.
• Explore "as is" value concepts to more accurately analyze distressed real estate properties.
• Distinguish between entrepreneurial profit and cost of capital.
• Explore the concept of reflecting entrepreneurial profit as a dollar amount deduction in "as is" value calculations.
• Review adaptive use potential on distressed commercial real estate.

AICP members may be able to earn Certification Maintenance (CM) credits for this activity. Visit www.planning.org/cm for a list of approved offerings.