Allied engineering and science (Partner ESI) has established a large technology-focused appraisal firm led by two long-time commercial real estate industry leaders. JLLBusiness Observer can report first.
The company in Los Angeles started a new business Partner value consultants It will be led. Brandon Nunnink And Eric EnloWith over 40 years of combined experience valuing over $2 trillion in CRE assets. The duo co-founded JLL’s valuation and advisory services business in the brokerage’s Chicago office, which specializes in the impact of environmental, social and corporate governance (ESG) issues on asset values.
“Starting from scratch in a valuation business, but we thought it would be a great fit in a very established due diligence business life partner,” Enloe said. “We think the appraisal business has some sophistication and needs to be done in the space and we’ve seen quite a bit of it, especially in the multi-family environment, but there’s a lot that can be done in the future for the technology. How this business is run.”
Joseph DerhakeThe co-founder and CEO of Partner ESI points out that the business is doing well, as the company already plays an advisory role in 70,000 projects – a sixth of all annual CRE transactions. database” from which to apply. Derhake said that this will be the first time that this valuation company has been combined with a group that provides ESG expertise.
The addition of appraisal services adds to Partners ESI’s recent expansion beyond the core areas of phase one environmental appraisals and property condition appraisals. The organization has added ALTA studies and zoning reports over the past seven years.
“We were thinking it would make sense as the next thing to add in the realm of professional services for long-term evaluation,” Derhak said. But we weren’t interested unless we were good, and we were lucky enough to find two people who were good at that and very well-respected nationally.
Derhak pointed out that accelerated asset valuations are increasingly important to CRE investors and lenders who are increasingly capitalizing on transactions in volatile market conditions. Their offering will be tech-focused with data collection and dashboard features as opposed to long PDFs.
Enloe was one of the founders and a leader in commercial valuations at the national level of the JLL Valuation and Consulting Group. He has experience evaluating all types of properties including office, retail, multifamily and industrial as well as special purpose properties such as regional shopping centers, self storage, manufactured homes, hotels and educational institutions.
A University of Notre Dame A graduate, Enloe is a Fellow of Real Estate Consultants and a Fellow of the Royal Institute of Chartered Surveyors.
Nunnink arrives at Partners ESI after serving as the chief operating officer of JLL’s pricing and consulting services in the US. He specializes in real estate information systems, commercial appraisals, partial interest rates, and manufactured housing information and appraisals.
“What’s really interesting from our perspective is that having been in a large organization, we’ve seen how challenging it is to try and force a large company to adapt to building the right technology from scratch,” Nunnink said. “We’re excited to be part of someone that has national scale, but that’s a little more startup-minded and showing some of our vision.”
Prior to moving into the speculation space, Nunnink was a commercial loan-backed securities lender with LaSalle Bank/ABN AMRO in Chicago and London, where he led over $2 billion in US-based real estate transactions and over €500M in Europe. He earned his bachelor’s and master’s degrees from Notre Dame and is a chartered financial analyst.
Partner Value Advisors plans to aggressively pursue CRE clients with road shows already lined up in Los Angeles, Atlanta, Dallas, San Francisco and Chicago. Partner ESI’s assessment arm will ramp up its recruitment process, with Derhake aiming to become a top 10 national supplier in the next two years.
Andrew Cohen can be found at acoen@commercialobserver.com.
