The financial studies concerned the valuation of real estate held by the CPI group that must be reported in compliance with IAS 40 – Investment Property for the purposes of IFRS. The purpose of the studies was to determine the fair value of real estate. It was a very extensive portfolio of diverse properties comprising real estate held by the companies in the CPI consolidated group. The properties were located in the Czech Republic and Slovakia, with the most significant being portfolios of residential premises, commercial retail properties, hotels and land for development. The studies were prepared both for the real estate included in a portfolio for regular revaluations and for newly acquired real estate.
Erik Morgenstern: “Our successful cooperation with RSM Tacoma was based mainly on its team responsible for the individual valuation projects. The CPI group appreciates their expertise and the scope of their knowledge of the Czech as well as the Slovak real estate markets. Our communication also played a key role and definitely was to the satisfaction of both parties involved. The approach of RSM Tacoma to us as a client was very professional with a clear and strong focus on our requirements.”
How we helped
Jiří Skotnica “Valuation for the largest Czech real estate group has always been a great challenge. In particular, valuation of the group’s entire property portfolio for the purpose of international accounting standards was, in terms of its scope, one of the most demanding and the most interesting real estate projects in which we’ve had an opportunity to participate recently. We are pleased that our valuations helped the Client to achieve the desired purpose and met the requirements in respect of the quality of the service.”