Appraisal of Medical Office Buildings

• 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.
  

Program Overview:
Online Syllabus

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.

Equipment:

• A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
• You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.
• Free Review: Using a Financial Calculator: Formulas, Symbols, Math Review, and Sample Problems; and Financial Calculator Practice Exercises.
• For additional help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
• HP-12C calculator User’s Manual.

Additional Information:

Requirements:

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