Valuation

Professional excellence, structured methodologies and full regulatory compliance: integrated support for all market players at every stage of the real estate lifecycle.

Real estate consultants in a meeting for valuation, portfolio analysis and advisory support across investment, lending and NPE activities

We support institutional investors, funds, family offices, corporates and operators in the NPE and credit sectors throughout the entire asset lifecycle — from acquisition to disposal, including periodic reporting. Our methodology combines international standards (RICS, IVS, EVS) and sector guidelines (ABI) with advanced quantitative analysis and multidisciplinary due diligence, ensuring transparent valuations focused on value creation. A distinctive approach based on documentable technical rigour and independent judgement.  

Our services

Investment

  • Valuations of real estate funds as Independent Expert  
  • Valuations of real estate funds as External Valuer  
  • Valuations for financial reporting purposes (IAS/IFRS)  
  • Valuations for insurance purposes (Solvency II, IVASS)  
  • Mass appraisal and real estate portfolio valuations  
  • Highest & Best Use (HBU) analysis, supported by market analysis and economic-financial feasibility studies  
  • Strategic analysis and positioning of real estate assets and portfolios  
  • Independent fairness opinions (second opinions) on valuations and assumptions  
  • Advisory and valuation for development and urban regeneration transactions 

Loan

  • Valuations for lending and depositary banks (including second opinions)  
  • Determination of Mortgage Lending Value  
  • Valuations supporting origination activities  
  • Valuations for real estate leasing transactions  
  • Credit Risk Mitigation activities  
  • Asset Quality Review (AQR)  
  • Real estate and instrumental asset appraisals for IAS/IFRS purposes  
  • Support for subsidised finance transactions  

NPE

  • Data Quality Review for NPE portfolios  
  • Valuations of distressed mortgage collateral  
  • Business plans for credit positions and special purpose vehicles (REOCO)  
  • Definition of management and value enhancement strategies (NPE plans)  
  • Determination of Judicial Value (JV)  
  • Procedure value  
  • Smart APPraisal 

Our approach

Our approach is based on a structured operating method that integrates document analysis, site inspections and valuation modelling according to the characteristics of the asset/portfolio. Activities are carried out in compliance with international valuation standards, in accordance with industry best practices and applicable regulatory requirements. The process includes progressive levels of verification and quality control, with independent internal review, traceability of assumptions and management of conflicts of interest. Integration with technical, legal and market areas ensures a comprehensive, consistent valuation aligned with the relevant context. 

Frequently Asked Questions

Which valuation and regulatory standards do you follow in your valuation activities?

Valuation activities are carried out in compliance with the main international standards, in particular IVS (International Valuation Standards) and RICS (Red Book), as well as the ABI Guidelines for credit-related valuations, where applicable, in line with the current regulatory framework (including Ministerial Decree 30/2015 for real estate funds). These frameworks ensure transparency, methodological consistency and full compliance in valuation processes. In practice, we adopt documented, traceable and verifiable criteria, which are essential for audit, financial reporting, financial transactions and engagement with national and international institutional stakeholders. 

How do you integrate ESG factors into valuation activities?

ESG factors (environmental, social and governance) are increasingly recognised by the market, particularly by institutional investors. Aspects such as energy efficiency, sustainability and climate risks directly affect real estate value and are incorporated, particularly in DCF valuations, into prospective cash flows, risk profiles, market rental levels and investment requirements connected to decarbonisation processes. These elements support responsible investment strategies aligned with European regulations. In this area, RPV actively participates in Assoimmobiliare working groups dedicated to the integration of ESG criteria into valuation processes, in line with RICS guidelines.

What safeguards do you use to manage conflicts of interest and ensure valuation independence?

We ensure independence and impartiality through a rigorous conflict-of-interest management system, based on organisational and information separation between the different functions. The framework includes formalised policies, internal controls, independent review and preventive disclosure obligations. Any potential conflict situations are promptly shared with the parties involved, identifying suitable solutions to ensure transparent and proper management, in line with industry best practices (RICS, IVS) and applicable regulations. 

Contact us
RINA Prime