(Chicago, April 5, 2005) A new Financial Analysis Spreadsheet that helps real estate and asset managers evaluate the performance of their properties is now available from the Institute of Real Estate Management (IREM®). Originally created for the Asset Analysis courses offered by IREM, the spreadsheet has intuitive design features that enable users to easily analyze property performance based on owners' goals and objectives.

Once performance data is input into the appropriate cells of the spreadsheet, it automatically:

• Amortizes and analyzes property loans
• Arrives at net operating income (NOI) based on property income and expenses
• Calculates cash-on-cash return, value enhancement, net present value (NPV) and internal rate of return (IRR)
• Creates T-bars to visualize income stream
• Establishes market rental rates using a comparison grid.

PRICE AND ORDERING INFORMATION
The IREM Financial Analysis Spreadsheet, accompanied by a “Spreadsheet Essentials” document detailing the technical requirements and instructions for usage, is free to IREM members and priced at $19.95 for non-members. It can be ordered in a downloadable ZIP file containing the Microsoft Excel-formatted spreadsheet and PDF-formatted usage instructions by accessing the link on the IREMFIRST section of the IREM® website at www.iremfirst.org.

ABOUT THE INSTITUTE OF REAL ESTATE MANAGEMENT
The Institute of Real Estate Management (IREM^®) has been the source for education, resources, information and membership for real estate management professionals for more than 70 years. An affiliate of the NATIONAL ASSOCIATION OF REALTORS^®, IREM is the only professional real estate management association serving both the multi-family and commercial real estate sectors.

With 82 U.S. chapters, seven international chapters and several other partnerships around the globe, IREM is an international organization that serves as an advocate on issues affecting the real estate management industry.

Membership includes approximately 16,700 individual members and 530 corporate members. IREM promotes ethical real estate management practices through its credentialed membership programs, including the Certified Property Manager^® (CPM^®) designation, the Accredited Residential Manager (ARM^®) certification, and the Accredited Management Organization (AMO^®) accreditation. These esteemed designations certify competence and professionalism for those engaged in real estate management. In addition, IREM offers Associate membership status.