Real Estate Investment Trust Investor Education Webinars – PART 1 – Income REIT

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INTRODUCTION TO UNDERWRITING & VALUATION OF REAL ESTATE INVESTMENTS

The Kenyan capital market has only one REIT that is listed on the Nairobi Securities Exchange. However, investors, and more so the institutional fund managers see the underlying advantages of investing in REIT securities. Nonetheless, the market does not have other examples by which to compare and analyze a REIT investment. In this regard, Renaissance Capital, a global full-fledged investment bank licensed and regulated by the Capital Markets Authority, together with Masterdam, a Netherlands based real estate corporate finance firm and the REITs Association of Kenya (RAK) are introducing a 2-part series on Real Estate Investment Trusts (REITS) – Income and Development Trusts.

Hosted by: Renaissance Capital

Moderator: Karimi Warui - Vice President Investment Banking, Renaissance Capital Kenya

Speaker: Christos Angelis - Masterdam, President of CAIA Netherlands

Panelists:

Kenneth Masika - Vice Chairperson, REITs Association of Kenya and Director, Lloyd Masika Limited

Hilda Njoroge MRICS - Secretary, REITs Association of Kenya and Property Investment Manager, Co-op Trust Investment Services Limited

WEBINAR A: INCOME-PRODUCING ASSETS

• Defining a Real Estate Asset
• Advantages and Disadvantages of Income-Producing Real Estate Assets
• Comparison with Equities & Bonds
• Assessing Income Profile & Forecast Rental Growth
• Understanding OPEX & CAPEX in Real Estate
• Underwriting NOI & RE Cashflows
• Asset Management Quality & Operating Assets
• Investment Comparable Analysis
• Introduction to Valuation Methodologies
• Valuation Process & Considerations (Example)
• Converting Valuations into Business Plans
• Ways to Gain Exposure to Income-Producing Assets (equity)

ICIFA members will earn 1 unstructured CPD point per hour while CISI members will earn 1 structured CPD point per hour.

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