The industry looks for common metrics to report and compare performance of real estate investment vehicles that operate across different regions of the globe.

However, in practice we use different NAV calculations in different regions. To better understand the differences between IFRS, INREV NAV and US GAAP Fair Value NAV a comparison and first gap analysis was developed by INREV, ANREV, the NCREIF and PREA Reporting Standards.

The resulting short paper explains the main differences when calculating NAVs across regions and the potential impact of these differences.

This is an initiative from the Global Standards Steering Committee.