Track One (Thursday)

Trending Issues in Business Valuation

Thursday, August 18, 2022 9:20 a.m. - 11:00 a.m. MT

Business Valuation of a Real Estate Centered Entity

Thursday, August 18, 2022 11:20 a.m. - 12:10 p.m. MT

In this session we will discuss the methods and pitfalls of valuing a business with a real estate component, or real estate properties that have a going-concern business deriving value and customer patronage for the location. Properties such as hotels, fueling stations, car washes, and senior living facilities can be valued by CVAs, CBAs, or real estate appraisers given the varying purposes for the assignment. Various methods will be highlighted, with the need to understand the real estate appraisal that may be provided with included equipment and “going-concern” intangible value.   References will be made to Chapter 33 “Valuing Business with Real Property” in the forthcoming Valuing a Business, 6th edition to be published in 2022. 

After attending this session, attendees will be able to:

  • Classify the types of real estate centered businesses presented to valuers
  • Cite recent economic trends that affect real estate properties
  • Identify the databases of comparable sale information available to real estate appraisers and how these compare to business valuation transaction databases
  • Identify the methods used in real estate appraising to estimate intangible value, real property with improvements, and embedded equipment
  • Indicate the dangers of reviewing and adopting a real property appraisal conclusion in a business valuation analysis without testing the real estate appraiser’s method and rationale for including intangible assets and equipment assets
  • Recognize the necessity for co-working projects in complex real property and equity assignments

Total CPE: 1
Fields of Study: Finance: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

All CVAs and CBAs who are asked to appraise operating companies with real estate having a locational advantage for customer patronage.


Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:


Asset-Based Approach to Business Valuation: Conceptual Foundations and Practical Applications

Thursday, August 18, 2022 1:00 p.m. - 2:40 p.m. MT

Goodwill and Executive Compensation in Business Valuation

Thursday, August 18, 2022 3:00 p.m. - 4:40 p.m. MT