Intrinsic Value Real Estate Advisers was established out of a desire to help investors, and investment managers, make progress through clear investment thinking, decision making, strategies and governance. In an asset class prone to biases, accepted wisdoms and decisions justified by market practice, it is hard to distinguish signals from noise, to know what is useful and what is not, and, ultimately, to make progress. We aim to help by adopting and adapting the principles of value-investing to real estate as the basis for an investment framework, but also by blending broader evidence from research and behavioural insights into that framework. We do this by providing consultancy to the real estate industry, and beyond; this may be in the form of a discrete project or a longer-term strategic relationship. We also offer training which aims to be both thought provoking and practical.