Valbridge
News 2014

State DOTs, Utilities and Airports Rely on Valbridge for Right-of-Way Done Right

Airport runway expansion in Atlanta… stadiums in Washington, D.C., and Minneapolis… electric transmission lines in West Texas… mining in Arizona… the central subway in San Francisco… highways and byways across the U.S.

Wherever there are right-of-way proceedings, including land or easement acquisitions and whole or partial takings, there’s Valbridge Property Advisors.

The organization’s track record in right-of-way, including eminent domain, is unmatched, reflecting the experience, acuity and in-depth market knowledge of Valbridge professionals, who work together locally and across state lines on single and multi-parcel assignments.

Valbridge understands the complexity of the eminent domain process, and provides valuation, consulting and expert-witness services for condemnations, inverse condemnations and other right-of-way acquisitions.

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Karl Finkelstein Elected President of South Carolina Appraisal Institute Chapter

Karl Finkelstein, MAI, of Charleston is the new president of the Appraisal Institute’s South Carolina chapter, having been elected by the organization's board of directors. The Appraisal Institute is the nation’s largest association of real estate appraisers with nearly 22,000 professionals worldwide, including 350 members in South Carolina.

Karl is Senior Managing Director of Valbridge Property Advisors | Atlantic Appraisals and Director of Marketing for Valbridge Property Advisors, Inc.

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Dustan Lane Earns MAI Designation

Dustan Lane of Valbridge Property Advisors l Robinson Company has earned the prestigious MAI designation from the Appraisal Institute, signifying his high level of experience in the evaluation of commercial and other types of properties.

Based in Greenville, S.C., Dustan, who received his bachelor’s degree from Florida State University, loves birding and carpentry. He’s been an appraiser for 12 years, working on a broad range of assignments including industrial and retail properties.

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Riding the Multifamily Market: Valbridge Experts Can Show You How

Is the multifamily sector still red hot? Absorption slowing? Rents rising? Is the market better for student or senior housing? What about affordable housing?

Apartment-market specialists at Valbridge can help you evaluate the potential for ground-up development, redevelopment or property rehabs — in addition to appraising assets for potential sale, acquisition, refinancing or financial reporting purposes.

Recently completed market studies by Valbridge offices in Hartford, Conn., and New Orleans analyze demand for rental units in those CBDs. Recent appraisals of proposed new $70 million+ properties in Orange County, Calif. and the Kansas City, Mo., CBD attest to high investor interest in those markets.

Valbridge also analyzes demand and market conditions, including rents, for the U.S. Department of Housing and Urban Development, Fannie Mae, Freddie Mac, multiple state housing agencies and various private clients.

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Commercial Property Executive Reports: Valbridge Invests in Appraisal Software Company

Valbridge Property Advisors recently closed on a strategic investment in Datappraise, which provides specialized database and report production software for commercial appraisers. Valbridge knows firsthand about Datappraise, because we are their largest customer!

You can read more about the benefits to Valbridge clients, who increasingly demand custom yet consistent appraisal reports across the U.S. market.

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Valbridge's Reaves Lukens Honored with Appraisal Institute Lifetime Achievement Award

Reaves C. Lukens, Jr., MAI, founder and principal of Valbridge Property Advisors | Lukens & Wolf, was honored with the Lifetime Achievement Award during the Appraisal Institute’s 2014 Annual Meeting in Austin, Texas.

The award is presented to an Appraisal Institute member who demonstrates high ethical standards, has contributed to the appraisal profession for at least 20 years and has well served his or her community.

Reaves has served the valuation profession for a half century. His contributions to the organization include serving as national and chapter president. A member of the Philadelphia Metro Chapter, he is a longtime Appraisal Institute instructor who has lectured at the university level.

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New & Notable

Michigan Governor Rick Snyder appoints Valbridge Senior Managing Director James T. Hartman, MAI (left), to the Michigan Board of Real Estate Appraisers...

Valbridge Senior Managing Director Arthur L. Schwertz, MAI, writes in the current issue of Valuation magazine about the challenges of appraising properties in historic districts including New Orleans...

Daniel Kann, MAI, Director of Multifamily Valuation for Valbridge Property Advisors | Shaner Appraisals, writes in the current issue of Colorado Real Estate Journal about the use and misuse of cap rates in real estate valuation...

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Amy Edmonds and Steve Henderson are Valbridge's Newest MAIs

Amy Edmonds of Valbridge Property Advisors l Axial Advisory Group and Steve Henderson of Valbridge Property Advisors | Free and Associates have earned the prestigious MAI designation from the Appraisal Institute, signifying their high level of experience in the evaluation of commercial and other types of properties.

Based in Williamsburg, Va., Amy, who received her bachelor’s degree from East Carolina University, loves to work out, kayak, waterski and travel. She’s been an appraiser for about five years, working on a broad range of assignments including religious facilities, subdivisions, retail, office, industrial, car washes, self-storage and mixed-use properties.

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Five Valbridge Pros Presenting at Appraisal Institute Annual Meeting


Five senior Valbridge professionals are speaking at the Appraisal Institute’s 2014 Annual Meeting from August 3-6 in Austin. Valbridge’s Texas offices are cosponsors of the conference.

“The Unique Appraisal – Case Studies in Appraising Special Purpose Properties” – Walter D. Carney, MAI, Matthew J. Lubawy, MAI, and Arthur L, Schwertz, MAI, are speakers on this panel examining unusual and really unusual assignments, including special purpose properties with complex cash flow.

“Lifestyle Properties – Going Concerns & Allocation Valuation Issues” – Gerald A. Teel, MAI, is speaking on this panel exploring recreation and special purpose properties known as lifestyle properties.

“Qualified Appraisals in U.S. Tax Court” – Joshua Wood, MAI, who also is an attorney, is speaking on this panel examining how the IRS classifies a “qualified appraisal,” including how the courts view appraisers’ analyses and conclusions.

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Valbridge Cycling Team Rides in "Wheels for Meals" Race

Valbridge Property Advisors | Robinson Company’s Greenville, S.C. office cycling team raced in the Wheels for Meals charity event. Partnered with KDS Commercial Properties, a brokerage firm, the team rode to benefit Meals on Wheels Greenville, which delivers 400,000+ meals each year to needy upstate residents.

The April 26 race raised over $141,000, enough to provide 32,000 meals. The Valbridge/KDS team was the #1 fundraiser with more than $22,000 raised, including by Valbridge’s own Mark Ratchford, MAI, SRA, who raised over $3,000 and finished as a top-five fundraiser.

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Valbridge Opens Office in West Palm Beach

Boyd, Schmidt & Brannum of West Palm Beach, Fla., has joined Valbridge to provide real estate valuation and advisory services to longtime regional clients as well as Valbridge clients with needs in Palm Beach County and the Treasure Coast of Florida, including Indian River, Martin and St. Lucie Counties.

The firm now will be known as Valbridge Property Advisors | Boyd, Schmidt & Brannum. Management remains the same with Senior Managing Directors David W. Boyd, MAI (pictured), Stephen M. Schmidt, SRA, and William H. Brannum. The three principals have worked together for 30 years.

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Edward Larson, Aaron Ward Earn MAI Designation


Edward Larson of Valbridge Property Advisors | The Oetzel-Hartman Group is Valbridge’s latest professional to earn the prestigious MAI designation from the Appraisal Institute, signifying his high level of experience in the evaluation of commercial and other types of properties.

Based in East Lansing, Mich., Ed followed in his father’s footsteps as an appraiser. Ed received his bachelor’s degree from Michigan State University. He has been an appraiser for 28 years, working on a broad range of assignments including golf courses, country clubs and office, agricultural, recreational, industrial, retail and apartment properties.

Aaron Ward, senior managing director of Valbridge Property Advisors | Mountain West (“News & Views,” October 14, 2013) also recently was credentialed as an MAI.

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Jeff Harris and Justin Sparr are Valbridge's Newest MAIs

Jeff Harris (left) of Valbridge Property Advisors | Axial Advisory Group and Justin Sparr of Valbridge Property Advisors | Walton Property Services have earned the prestigious MAI designation from the Appraisal Institute, signifying their high-level experience in the evaluation of commercial and other types of properties.

Based in Chesapeake, Va., Jeff’s been an appraiser since 2003, working on a broad range of assignments including retail, office, industrial, apartments and subdivisions. A graduate of Old Dominion University, he is a big sports fan who loves to travel with his wife and two year-old twins.

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"Raise Your Right Hand"... Valbridge Pros Star as Expert Witnesses

No one holds up better under cross-examination than a Valbridge professional.

With industry-leading credentials, Valbridge pros are sought-after expert witnesses. On any given day, odds are at least one Valbridge expert is in court with a client across the U.S.

Tax assessment appeals, title disputes, estate conflicts, and eminent domain, inverse condemnation, environmental contamination and right-of-way controversies are just some of the instances in which the company is hired to analyze the facts and circumstances and assist in property-related legal cases.

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Tech Platform Enables Consistent Appraisal Reports Nationwide


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Valbridge Enters New York City Market

Valbridge Property Advisors, one of the top three commercial real estate valuation and advisory services firms in the U.S., has expanded into the New York City market in combination with The Oxford Group, the largest independent commercial and multifamily property appraisal firm in the region.

The company now does business regionally as Valbridge Property Advisors l Oxford Group, with offices in New York City, and Morris Plains and Wall Township, New Jersey. Regional management remains the same: George Denman, MAI, Senior Managing Director (pictured); John Eckhoff, MAI, Managing Director (New Jersey); Jack Sheehan, MAI, Managing Director (New Jersey); and Frank Trupia, MAI, Managing Director (New York).

Valbridge now has 63 offices, 173 MAIs and more than 650 staff.

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Meredith Dominguez and Justin Markley are Valbridge's Newest MAIs

Meredith Dominguez of Valbridge Property Advisors | Allgeier Company and Justin Markley of Valbridge Property Advisors | Broom, Moody, Johnson & Grainger have earned the prestigious MAI designation from the Appraisal Institute, signifying their high level of experience in the evaluation of commercial and other types of properties.

Based in Louisville, Meredith spent nine years in the Army before becoming an appraiser in 2007. Based in Jacksonville, Justin has been an appraiser since 2008.

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Jeremy Bargy is Valbridge's Newest MAI

Jeremy Bargy of Valbridge Property Advisors | Hulberg & Associates is Valbridge’s latest professional to earn the prestigious MAI designation from the Appraisal Institute, signifying his high level of experience in the evaluation of commercial and other types of properties.

Based in San Francisco/East Bay, Jeremy received his bachelor’s degree and MBA from California State University - East Bay. He has been an appraiser for nine years, working on a broad range of assignments including office, retail, industrial, and apartment buildings.

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Valbridge Opens Office in Downtown Cleveland

Valbridge Property Advisors has opened an office in downtown Cleveland, Ohio, becoming the only national independent commercial property valuation and advisory services firm with an office in Cleveland’s CBD.

Valbridge has served the Cleveland market and the rest of Northeast Ohio since 2001. This is the company’s first office downtown. The new office is located a block away from Public Square in the Leader Building.

The Cleveland office is headed by Senior Managing Director Gary L. Barker, MAI. The other senior Valbridge executive in Northern Ohio is Michael J. Flak, MAI.

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