Real estate valuation at institutional level
Credit institutions, insurance companies and institutional investors place the highest demands on the independence, methodology and documentation of their real estate valuations. Every assumption must be traceably justified, every source disclosed, and the result must withstand both internal and external review.
With over 20 years of professional practice in the institutional real estate sector — including as a portfolio manager for open-ended real estate funds at Catella and Real I.S. — we know the documentation standards, regulatory requirements and internal review processes of these clients from our own experience.
Our quality promise to institutional clients:
- ✓Mortgage lending values pursuant to § 16 PfandBG with full traceability
- ✓IFRS 13 fair value — Level 3 valuation models documented
- ✓Solvency II / VAG-compliant for insurance clients
- ✓Compatible with internal review processes and audits
Mortgage lending value report
- Pursuant to § 16 PfandBG
- Complete methodology documentation
- All property types
- Review-ready & auditable
- Nationwide
Who do we work for?
We regularly work for institutional clients from the financial and real estate industry with regulatory demanding valuation requirements.
Credit institutions & Pfandbrief banks
Banks and Pfandbrief banks require mortgage lending value reports pursuant to § 16 PfandBG for lending and Pfandbrief cover. We prepare externally commissioned appraisal reports that meet the requirements of BaFin supervision and internal lending guidelines.
- Mortgage Lending Value Report pursuant to § 16 PfandBG
- BelWertV-compliant
- Commercial & residential properties
- Auditable & review-ready
Insurance companies & Pension funds
Insurance companies and pension funds value real estate within their capital investments in accordance with Solvency II and IFRS. We provide the regulatory-compliant valuation basis for annual financial statements, internal reporting and BaFin reporting.
- Solvency II & VAG-compliant
- IFRS 13 Fair Value (Level 3)
- Annual Financial Statement Valuation
- Auditor-verified documentation quality
Real estate funds (open-ended & closed-ended)
Open-ended and closed-ended real estate funds are subject to regular NAV valuation by independent valuers. We prepare external appraisal reports for existing portfolios, transaction support and annual reports in accordance with KAGB requirements.
- NAV Valuation & Annual Appraisal Report
- Compliant with § 216 ff. KAGB (German Investment Code)
- Transaction Support for Purchase & Sale
- Independent & BaFin-compliant
Asset managers & REITs
Asset managers and publicly listed real estate companies (REITs) require robust third-party appraisal reports for transactions, portfolio reporting and investor relations. We provide the external expertise for due diligence processes and portfolio analyses.
- Portfolio reporting & due diligence
- Transaction Support for Purchase & Sale
- Independent Second Opinion
- Nationwide Property Coverage
Our services for the financial and real estate industry
We prepare all valuation formats required in the institutional and regulated environment.
Mortgage lending value report
Sustainable valuation pursuant to § 16 PfandBG and BelWertV for secured lending and Pfandbrief cover. Complete documentation of all sustainability assumptions and market data.
→ Learn moreMarket value appraisal (IFRS/HGB)
Complete valuation pursuant to § 194 BauGB with documentation standard for IFRS 13 fair value (Level 3) or HGB balance sheet value. For annual financial statements, investment property and capital investment valuation.
→ Learn morePortfolio valuation
External valuation of multiple properties for fund reporting, NAV determination and annual financial statements. We prepare structured reports with consistent methodology and efficient turnaround times for portfolios.
Due diligence valuation
Transaction-related valuation for acquisition and sale processes. We provide the independent third-party opinion that investors and banks need as external validation during the transaction process.
Rental value appraisal
Independent determination of the market-standard net cold rent for income approach calculations, rent adjustments in existing portfolios, and the validation of acquisition rent assumptions during the transaction process.
→ Learn moreExpert opinion
Plausibility review of existing valuations, second opinions on internal estimates, or supplementary expert opinions for the auditor — at the same methodological level as a full appraisal report.
Why Tobias Streckel?
Regulatory Expertise
PfandBG, IFRS 13, Solvency II, KAGB — we know the regulatory requirements and build our appraisal reports on that foundation.
Institutional Practice
As a portfolio manager at Real I.S., I have personally commissioned institutional valuations and reviewed them internally.
Independence
No conflicts of interest from brokerage or property management mandates — we operate exclusively as an independent valuer.
Nationwide Coverage
Valuations for portfolios across Germany — flexible, with short lead times and consistent methodology across all locations.
Process for Institutional Clients
Initial Consultation & Requirements Clarification
Alignment on the valuation purpose, the required appraisal report format (market value, mortgage lending value, IFRS fair value) and the specific documentation requirements. For portfolios, the processing order and the overall timeline are discussed.
Receipt of Documents & Quotation
Upon receipt of the valuation documents (lease agreement, land register extract, building description, and, if applicable, energy performance certificate and floor plans), you will receive a binding fixed-price quotation with a delivery schedule. For portfolios, a framework agreement is offered.
Inspection & Market Research
Personal on-site property inspection with complete documentation of characteristics. Parallel market data research and comparative analysis. For portfolio assignments involving multiple properties, travel planning is coordinated to ensure efficiency and cost transparency.
Valuation & Internal Quality Control
Application of the relevant valuation approaches with full source references and justification of all value assumptions. Each appraisal report undergoes an internal plausibility review before delivery.
Delivery & Review Support
Delivery as a bound copy and as a PDF. Should the auditor, internal risk management, or the supervisory authority have any questions, we remain available to provide clarifications and supplementary information.
Frequently asked questions
Do you prepare mortgage lending value reports pursuant to Section 16 PfandBG?+
Yes. We prepare mortgage lending value reports in accordance with Section 16 PfandBG and the BelWertV for all common property types. The reports document all sustainability assumptions and market data in the depth required by credit institutions and auditors.
Are your appraisal reports IFRS 13 compliant?+
Yes. Our market value appraisals can be used as Level 3 valuations under IFRS 13. The valuation models and all input parameters are fully disclosed and documented, so that the appraisal report meets the auditor's requirements for investment property under IAS 40.
Can you value portfolios comprising multiple properties?+
Yes. We prepare portfolio valuations using consistent methodology and structured reporting. For portfolios of three or more properties, we offer volume discounts and a framework agreement for recurring valuation cycles (e.g., annual fund valuations). Please contact us for an individual quotation.
Are you available to answer the auditor's questions?+
Yes. We are available to provide clarifications to the auditor, internal risk management, or the supervisory authority — in writing or by phone. Supplementary appraisal reports and updated opinions are prepared on request under separate terms.
Request an Institutional Real Estate Valuation
We prepare the appraisal report format required by your regulatory environment — delivered on time and to institutional standards.
