ATLANTA-CB Richard Ellis has recruited John Cherry, MAI, as managing director of its Valuation and Advisory Services team in Atlanta. Cherry’s task is to implement strategic policies and expand the firm’s position in the Southeast.
Cherry comes to CBRE from Atlanta-based Butler Burgher Group, where he was managing director. Butler Burgher could not immediately be reached for comment.
Cherry brings more than 30 years of diverse real estate valuation and investment analysis experience to CBRE, including performing market value appraisals on multiple property types, appraisal reviews, appraisal support for arbitration, market analysis, and market rent studies.
With so much litigation, as well as foreclosures and bankruptcies, Ron Neyhart, senior managing director of CBRE’s Valuation and Advisory Services practice in the Southeast Region, tells GlobeSt.com that valuation services are more important than ever. CBRE clients, he says, are demanding skilled analysis to determine true value in a challenging market.
“John’s experience will help us offer even better service to our clients,” says Neyhart. “John also brings senior leadership experience to our under-managed Southeast team. His skills will help us get to the next level.”
Cherry has conducted valuation and consulting activities on behalf of major financial institutions, community banks, pension funds, government agencies, major corporations, individual investors, and legal and accounting firms. He previously served as Chief Appraiser for LandAmerica Valuation Corporation and was a director and Southeast Region Practice Leader for the Real Estate Advisory Services group at PricewaterhouseCoopers.
“There is diversity of appraisers here and I look forward to getting to know them and reviewing their work, doing some marketing and hopefully keeping some clients in my pocket,” Cherry tells GlobeSt.com. “I’m basically doing the same thing I was doing, but with a world-leading organization.”
Cherry is licensed as a Certified General Appraiser in five states and is a designated member of the Appraisal Institute. He also holds the CRE designation. Cherry is past president of the Georgia Chapter and The Counselors of Real Estate. Neyhart says his skills are much needed as the commercial real estate market continues its recovery.
“We are seeing a slight turnaround in the marketplace for class A assets,” Neyhart says. “There is still a lot of challenges in the class B and C markets. But plenty of demand for appraisal services. I believe that trend is going to continue throughout 2011. John will be a valuable part of the equation.”
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