Real estate companies, like most investment vehicles, require special attention when it comes to valuation.
Valuation ideally requires predictable and stable cash flows, that are simply not the way real estate companies operate. When valuing them using the Equidam tool, you need to assume that the properties purchased will be sold in the furthest projected year.
Given their nature, their value is mostly based on their assets. For this reason, it might be needed to adjust the weight of the qualitative methods (Checklist and Scorecard) in the Advanced Settings tab, to the limit of setting the weight to zero, effectively removing the methods.
Further changes may depend on the specific case of the company, as well as the overall applicability of the Equidam tool for these purposes.