Office Property Appraisal
The following case study is related to the valuation of a partially leased office property located in Milan, Italy. Even if nameless, it is based on realistic data with the main goal of describing a full application of the Discounted Cash Flow Approach. It is focused on the determination of key elements such as the time horizon, the intermediate cash flows, the Terminal Value, and the discount rate. Although this case study presents all the major elements of a valuation report, various sections have been simplified and some minor parts are omitted.