Appraisal of Medical Office Buildings

Description

 

Changing trends in medical practice, health insurance, and demographics are fostering changes in the design of and demand for medical office buildings. Designed specifically for commercial appraisers who want to branch out into the specialty of medical office building appraisals, the seminar focuses on the sales comparison and income approaches. You’ll identify the key differences between medical office construction and standard office construction and through historical data, learn about long-term trends and their influence on the market.

 

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Program State Approval & Hours

Some AI educational programs may not be approved in every state and every delivery format. To see a list of all state approvals across all formats for this course, please use the link below.

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Who should Enroll

General real property appraisers

Objectives

  • Differentiate between the types of healthcare services and the types of healthcare facilities they occupy.
  • Examine how changes in the healthcare industry are influencing medical office demand.
  • Analyze how practice trends are changing the size, configuration, and location of medical offices.
  • Examine how the medical office market is responding to healthcare trends.
  • Distinguish characteristics of medical office buildings from standard office buildings.
  • Analyze important clauses to consider in a review of medical office leases.
  • Describe trends in the medical office leasing market.
  • Illustrate when to apply the sales comparison approach for valuation of a leased fee interest in a medical office building.
  • Demonstrate the use of appropriate guidelines for selection of comparable sales for valuation of a leased fee interest in a medical office building.
  • Properly apply transactional and property adjustments in the sales comparison approach for leased fee interests in medical office buildings.
  • Distinguish between major factors contributing to the economic characteristics adjustment for a medical office building.
  • Demonstrate proper methodology in the sales comparison approach for valuing a fee simple interest in a medical office building.
  • Distinguish how and when to use direct capitalization for valuation of a leased fee interest in a medical office building.
  • Examine and consider the following factors in estimating the leased fee capitalization rate: tenant quality, rent level, and lease type.
  • Examine and consider the following factors in estimating the leased fee capitalization rate: term remaining, options remaining, location, and others.
  • Illustrate direct capitalization for valuation of leased fee interests in single-tenant medical office buildings.
  • Demonstrate proper data collection techniques to support leased fee capitalization rates for medical office buildings.
  • Demonstrate proper application of discounted cash flow analysis in the valuation of leased fee interests in medical office buildings.
  • Illustrate proper methods for estimating a reversion in the valuation of leased fee interests in medical office buildings by discounted cash flow analysis.
  • Demonstrate proper application of discounted cash flow analysis in the valuation of leased fee interests in single-tenant medical office buildings.
  • Demonstrate proper application of discounted cash flow analysis in the valuation of leased fee and fee simple interests in multi-tenant medical office buildings.

Prerequisites

Knowledge and experience with basic appraisal theories and fundamental appraisal practices

Exam

No Exam

Level

Intermediate

Appraisal Institute CE Points

Attend: 75 AI Points

Class Time

7 hours

Assignments

Yes. Participants must complete mandatory assignments in this program. Please plan your time accordingly and allow up to 5 days for the instructor to review your assignments. The instructor may ask for a re-submission of incomplete assignments. You may advance through the program while you are waiting for your instructor to review your work. You may also contact the instructor to request expedited review.


Program Overview


Required and/or Recommended Equipment


System Requirements


Additional Information

Online Course Access
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Other Details
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