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Real Estate Discounted Cash Flow Model Development and Design: The process of developing a new DCF model at a multinational real estate consultancy
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics.
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics.
2011 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Due to increasing skill and awareness of overall functions in programs such as Excel, an increasing number of analysts at real estate firms and consultancies have started developing "desktop" versions of valuation models used for professional appraisal of property value. Due to personal preferences, differences in schools and professional backgrounds, these so called desktop models vary in quality, robustness, accuracy, design and user friendliness. Professional software suites are not suitable either, as they are expensive, hard to learn, hard to adapt to specific needs of the business, outdated design and need of additional IT resources.

At a multinational Real Estate consultancy such as Jones Lang LaSalle, requirements on tools used for professional opinions on questions as important as property value, are rigorous. Therefore, decision was made to develop a new DCF model which would be closely monitored by management and have a prismatic approach meaning that the model would satisfy the needs of more than one division at Jones Lang LaSalle. When reviewing existing models and practices at the company, the result became a tailored DCF valuation model that was focused on increasing efficiency of appraisers at Jones Lang LaSalle. Aside from being robust and technically sophisticated, the result also suited the specific needs of Jones Lang LaSalle in terms of features and user interface. Development of the model involved several divisions to ensure that the needs were met for Research & Valuation, Capital Markets, Corporate Solutions and Asset Management at Jones Lang LaSalle.

Place, publisher, year, edition, pages
2011. , 42 p.
Keyword [en]
Discounted Cash Flow, Jones Lang LaSalle, Valuation Model, Spreadsheet, Appraisal
National Category
Civil Engineering
Identifiers
URN: urn:nbn:se:kth:diva-76078OAI: oai:DiVA.org:kth-76078DiVA: diva2:490753
Subject / course
Finance
Educational program
Master of Science - Real Estate Management
Uppsok
Technology
Supervisors
Examiners
Available from: 2012-02-06 Created: 2012-02-06 Last updated: 2012-02-06Bibliographically approved

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fulltext(1155 kB)8175 downloads
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f7031f3f39a44a8f1d8a911b265c2e14b2f8448d80fd08e62817a9d7c2eac6029fdb3ec373959356159fbdc406796d1234e6945b27cb24b9a4f4cdf8e3568f47
Type fulltextMimetype application/pdf

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