42 Appraisal Firms Form new Valbridge Property Advisors—Commercial Property Executive, Appraisal News Online, Valuation Review, More

Based in Florida and Employing 600 Personnel in 59 Offices, New Company Is Third Largest Firm Providing Commercial Real Estate Valuation Advisory Services 

Forty-two independent CRE appraisal companies, with a total of 59 offices and 145 MAIs, have merged to form Valbridge Property Advisors (www.valbridge.com), Commercial Property Executive reports.  The new company, headquartered in Naples, Fla., will rank in terms of size behind only Integra Realty Resources and CBRE among companies providing CRE valuation and advisory services.  Here’s more:

Valbridge is a privately owned corporation, with each office continuing to be run by local practice leaders, including at least one appraiser who holds the MAI designation from the Appraisal Institute. Financial details, such as Valbridge’s projected initial annual revenue, were not disclosed. The member offices employ a total of about 600 personnel.

Valbridge will serve local, regional, multi-market and national clients as to all types of property and land, including office, industrial, retail, multi-family, senior living and hospitality.

“Client demand for a strong independent national commercial property appraisal services platform has driven the formation of Valbridge,” CEO/President Richard L. Armalavage, MAI, said in a release. He is affiliated with Armalavage Valuation LLC, Naples, Fla.

Valbridge Property Advisors Will Be the Third Largest Commercial Real Estate Valuation and Advisory Service

Read the whole story and see a list of the 42 firms here.

See also:
42 Appraisal Firms Form new Valbridge Property Advisors —Appraisal News Online
42 Appraisal Firms Combine to Form Valbridge Property Advisors —Valuation Review 
Shaner Appraisals’ New Cooperative Will be Among Largest Nationwide  —Kansas City Business Journal