I desparetely need help with a DCF valuation...!

Hello there,

I am a beginner so apologies for sounding like an amateur. I am currently analyzing a DCF valuation from CBRE for a commercial property. See the image below. The discount rate in the DCF is set at 8%. The rent/cash from the property flows monthly in advance (as far as that is relevant).

I'm confused, because the NOI in year 1 is 129.432, of which the PV is then 124.878. The NOI in year 2 is 140.815 of which the PV is 125.895, and the NOI in year 3 is 118.887, of which the PV is then 98.477.

When I calculate the PV of these cash flows at 8% I arrive at 119.844 for year 1, 120.726 for year 2 and 94.376 for year 3, so completely different. I am sure that I am doing something wrong or misunderstanding something.

I was wondering if any of you could help me out. I created my account at Wallstreet Oasis for the purpose of asking for help on this matter. Many thanks in advance for your time, I really appreciate it!