EPRA NRV
Comparison of EPRA NTA and EPRA NDV
EPRA net tangible assets (NTA) place the focus on calculating a property company’s tangible assets. This assumes that property companies buy and sell properties and thus have to recognise deferred taxes. Intangible assets and the market values of intangible assets are adjusted for.
Shareholders are interested in knowing the full amount of liabilities and the resulting enterprise value when assets are sold and liabilities are not held to maturity. EPRA NDV therefore includes financial instruments and other liabilities at fair value after deducting all taxes incurred.