Limited Partnership Interest Valuation
Limited Partnership Interest Valuation is a resource guide to publications
which focus on valuation of limited partnership interests and related topics.
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Each resource listed below includes the source or publisher, a description
of the resource and its primary features, and any information that is accessible
free online.
For more information on books, publications, and other resources which focus
on business appraisal and related topics, see Business
Valuation Books and Publications.
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Comprehensive Guide
for the Valuation of Family Limited Partnerships
Partnership Profiles, Inc., 3rd edition, 2006
Guide illustrates how to use closed-end fund, REIT, and limited partnership data
to value ownership interests in family limited partnerships (FLPs) holding real
estate, marketable securities, and oil and gas interests. Detailed table of contents
available free online.
PPC Guide to Business Valuations
Practitioners Publishing Company, annual updates
Three-volume set includes section on limited partnership valuation engagements
covering topics such as overview and formation of FLPs, valuation methodology,
procedures, and examples, discounts for lack of marketability, IRC Chapter 14
considerations, and recent case decisions. Detailed table of contents available
free online.
Executive Summary
Report on Partnership Re-Sale Discounts
Partnership Profiles, Inc., annual
Report provides detailed analysis of secondary market price-to-net-asset-value
discounts for real estate limited partnership interests by partnership type (equity,
undeveloped land, and triple-net-lease), debt level (low to no debt and moderate
to high debt), and current distributions (distributing and non-distributing).
Partnership Profiles
Minority Interest Discount Database
Partnership Profiles, Inc., annual
Database provides secondary market transaction and historical financial information
for limited partnership interests in over 300 limited partnerships. Database package
includes the Executive Summary Report on Partnership Re-Sale Discounts; detailed
financial data including property holdings, distribution history, debt levels,
and operating statistics; and a CD-ROM disc containing the most recent annual
and quarterly reports for publicly-registered, non-publicly-traded limited partnerships
and REITs.
Valuing Undivided Interests in Real Property:
Partnerships and Cotenancies
Webb, Appraisal Institute, 2004
Publication demonstrates how to value real estate limited partnership interests
and common tenancy interests in real estate, including development of appropriate
discounts for lack of control and lack of marketability. Table of contents is
available free online.
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