Special rules for valuation

(1) Section 168 applies subject to subsections (2) to (4).
(2) For assets within the meaning of section 231(1) and section 234, the purchase price of these assets must be recognised at the time of acquisition and thereafter for no longer than twelve months. By way of derogation from the first sentence, the value must be newly determined and recognised where, in the opinion of the AIF capital management company, recognition of the purchase price is no longer appropriate on account of changes in material valuation factors; the AIF capital management company must document its decision and the reasons for it in a comprehensible manner.
(3) The incidental acquisition costs of an asset within the meaning of section 231(1) and section 234 must be recognised separately and depreciated in equal annual amounts over the expected duration of its belonging to the real estate collective investment fund, but over a period of at most ten years. Where an asset is disposed of, the incidental acquisition costs must be depreciated in full. The depreciation must not be taken into account in the income and expense statement.
(4) The value of the participation in a real estate company must be determined in accordance with the generally recognised principles for the valuation of business participations. The properties stated in the annual financial statements or in the statement of assets of the real estate company must in this connection be recognised at the value determined correspondingly to section 249(1).