CBRE Expands Valuation Practice

NEW YORK CITY-CB Richard Ellis has gradually expanded its valuation business. What started out more than 15 years ago with a group of appraisers numbering less than 40 has swelled to a global practice with more than 600 professionals today. And that number is growing, according to Doug Haney, president of CBRE’s valuation practice. The group had $202 million in global revenue last year, up 29% over 2004.

The valuation business became more crucial to the dealmaking process, Haney points out, after the Savings and Loan collapse. “The growth of the business has expanded. It’s really a driver of business.”The firm now has concentrations in hospitality and gaming as well as regional and international offices that handle all product types. The hospitality practice is headed up by Scott Biethan and Dan Lesser. The 25-member team has a current work flow that includes the appraisal of a national, five-property, extended-stay portfolio, conducting feasibility analysis of luxury hotel construction here and offering litigation support work in connection with property tax disputes and condemnation matters. The gaming practice is led by Larry Snyder.