Partner Expands in Tulsa with Affordable Housing Experts

Andrea Gillman and Owen "Chip" Ard Join as Managing Directors

Tulsa, OK, April 13, 2023 – Partner Valuation Advisors, a national commercial real estate valuation advisory firm, expanded into a new market and appointed two affordable housing leaders as co-heads of the firm’s national Affordable Multi-Housing Sector practice. Owen “Chip” Ard, MAI, and Andrea Gillman join as Managing Directors. Both are based in Tulsa.

Since launching in September 2022, Partner Valuation Advisors has issued over 850 valuations with an aggregate real estate value in excess of $23 billion across 40 states. The Chicago-based, technology-forward firm has grown to 60+ employees in 22 markets nationally, making it one of the fastest-growing commercial real estate valuation advisory companies in the U.S. Partner Valuation Advisors serves investors, lenders, investment funds, and real estate occupiers.

Partner Valuation Advisors’ Senior Managing Director Eric Enloe, MAI, CRE, FRICS, said, “Chip and Andrea will co-lead our national affordable housing practice, which requires a specialized level of valuation expertise because of the complexity of this sector. Investor interest in affordable housing has dramatically increased in the last several years, and Chip and Andrea both bring decades of experience valuing properties in this niche sector that demands a deep understanding across a diverse range of affordable multi-housing asset types, financing programs, and public agencies. The addition of Chip and Andrea positions us as market leaders in the valuation of affordable housing nationally.”

Mr. Ard most recently served as a National Head of Affordable Multi-Housing for JLL Valuation Advisory and has been actively engaged in real estate valuation and consulting assignments since 1984. He has performed appraisal services consisting of ad valorem tax protests, consulting, litigation support services, market and feasibility studies, reviews, market study analyses, and appraisals in connection with the allocation of state and federal tax credits. Mr. Ard specializes in valuation and market studies for use in the HUD Multifamily Accelerated Processing (MAP) program, the federal Low Income Housing Tax Credit Program, and various other affordable housing programs.

Mr. Ard is currently the President of the Oklahoma Coalition of Affordable Housing, a non-profit organization of affordable housing professionals promoting education, legislative action, professional training, information resources, and network building in the affordable housing industry. The mission of the Coalition is to promote and facilitate the availability of quality, safe, affordable housing to Oklahoma residents.

Prior to joining JLL in 2016, Mr. Ard worked for a national valuation firm, where he had served as Senior Managing Director, overseeing the Tulsa and Oklahoma City offices. He earned a bachelor’s degree in business administration from the University of Tulsa and holds an MAI designation as a member of the Appraisal Institute.

Ms. Gillman, who has been actively involved in valuation and consulting since 2014, most recently served as a National Head of the Affordable Multi-Housing sector for JLL Valuation Advisory in the United States. Her team focused on appraisals and consulting assignments for the valuation of multi-housing assets, with a specialization in affordable multi-housing. She also served on the national multi-housing leadership team that conducted assignments throughout the United States for a variety of property/program types, including Low Income Housing Tax Credits (LIHTC), HUD Multifamily Accelerated Processing (MAP) program, student housing, conventional apartments, Freddie and Fannie agency debt, market studies, and complex mixed-use developments. She earned a bachelor’s degree in journalism and public relations from Oklahoma State University in Stillwater, OK, and a juris doctorate (JD) from Chicago-Kent College of Law in Chicago. She is a Candidate for Designation from the Appraisal Institute.

In the past month, seven other CRE leaders have joined Partner Valuation Advisors, including Erik Hill, MAI, CCIM, MRICS, in Dallas; Brian Chandler, MAI, CRE, FRICS, in Raleigh, NC; Lana Lenovitz, MAI, MRICS, in Washington, DC; Kenneth Jaggers, MAI, FRICS, in Kansas City, MO; Creighton R. Cross, MAI, AI-GRS, in Knoxville, TN; Justin Alexander, MAI, in Seattle, WA; and Talani Casariego, MAI, in Atlanta, GA. The firm continues to onboard talented valuation leaders, with more senior-level hires anticipated over the next month.

Partner Valuation Advisors’ team members hold appraisal licenses in all 50 states and the firm has offices in Atlanta, Austin, Baltimore, Chicago, Cleveland, Cincinnati, Dallas, Denver, Des Moines, Indianapolis, Jacksonville, Los Angeles, Kansas City, Knoxville TN, Miami, New York City, Northern NJ, Phoenix, Raleigh, NC, Seattle, Tulsa, OK and Washington, D.C.

About Partner Valuation Advisors

Partner Valuation Advisors is a Chicago-based affiliate company of Partner Engineering and Science, Inc. The valuation enterprise was introduced in 2022 with the formation of a new team of leaders focused on performing commercial real estate valuations nationally for investors, lenders, and real estate occupiers. The team is led by Brandon Nunnink, CFA, and Eric Enloe, MAI, CRE, FRICS. Please visit us online at www.PartnerVal.com.

About Partner Engineering and Science, Inc.

Partner is the most trusted choice for third-party due diligence and consulting in the commercial real estate industry, providing full-service engineering, environmental, and energy services throughout the Americas, Europe, and around the globe. With a multidisciplinary approach, Partner serves clients at all stages from initial due diligence and design to development and construction, as well as the ongoing maintenance and optimization of a real estate asset.

Media Contact:

Partner Engineering and Science
Erika Haberlen
Marketing Director, Principal
310-615-4500
[email protected]

Erik Hill Joins Partner Valuation Advisors in Dallas to Lead Healthcare & Life Science Practice and Dallas Team

Partner's Newest Managing Director will Oversee Growth in Dallas Market

April 5, 2023, Chicago – Partner Valuation Advisors, a national commercial real estate valuation advisory firm, appointed Erik Hill, MAI, CCIM, MRICS, as Managing Director in Dallas. Mr. Hill will deliver valuation and advisory services for healthcare and life sciences properties nationwide, as well as be responsible for overseeing the growth in the Dallas market.

Since launching in September 2022, Partner Valuation Advisors has completed more than 700 valuations across 40 states with an aggregate commercial real estate value exceeding $20 billion. The Chicago-based, technology-forward firm has grown to more than 50 employees in 20-plus markets nationally, making it one of the fastest-growing commercial real estate valuation advisory companies in the U.S. Partner Valuation Advisors serves investors, lenders, investment funds, and real estate occupiers.

Partner Valuation Advisors’ Senior Managing Director Eric Enloe, MAI, CRE, FRICS, said, “The healthcare and life science sector continues to experience high demand from tenants and robust investor interest. Erik brings a distinct skill set and extensive experience nationally with facility owners, developers, and investors operating within this niche asset sector. He knows and understands the dynamics of the healthcare and life science sector, and his connectivity with market participants is paramount. Earlier this week, we announced Brian Chandler, MAI, CRE, FRICS, as our new National Practice Leader for Seniors Housing. The combination of Brian and Erik together gives Partner the leading Seniors Housing, Healthcare, and Life Science practice in the U.S.”

Mr. Hill brings nearly 17 years of commercial real estate experience. In his previous role as Managing Director and National Sector Lead of Healthcare & Life Science at JLL Valuation Advisory, Mr. Hill focused on providing valuations for properties in the healthcare and life science sectors. That included hospitals, medical office buildings, surgery centers, imaging centers, behavioral hospitals, substance abuse treatment centers, labs, GMP/cGMP facilities, and others. The array of valuation and advisory services he delivers includes real property and going-concern appraisals, fair market rent studies for lease negotiation and Stark compliance, purchase price allocations for FASB ASC 805 and ASC 820 compliance, and other consulting services.

Prior to joining JLL in 2016, Mr. Hill served on the National Healthcare Practice at Integra Realty Resources in Dallas. Prior to his career in appraisal, Mr. Hill spent ten years as a commercial real estate broker with Coldwell Banker Commercial in Waco, TX, where he was involved in sales, acquisitions, and leasing of retail, office, industrial,l and multifamily properties.

Mr. Hill holds an MAI designation from the Appraisal Institute, earned a CCIM designation from the CCIM Institute, and is a member of the Royal Institution of Chartered Surveyors (RICS). He earned a broker license from the Texas Real Estate Commission, is a member of the North Texas Chapter of the Appraisal Institute, and is an affiliate member of the National Association of Realtors. Mr. Hill received a bachelor’s degree in business administration from Baylor University in Waco, TX, and a master’s degree in business administration (MBA) from Tarleton State University in Stephenville, TX.

In the past month, six other CRE leaders have joined Partner Valuation Advisors, including Brian Chandler, MAI, CRE, FRICS, in Raleigh, NC; Lana Lenovitz, MAI, MRICS, in Washington, D.C.; Kenneth Jaggers, MAI, FRICS, in Kansas City, MO; Creighton R. Cross, MAI, AI-GRS, in Knoxville, TN; Justin Alexander, MAI, in Seattle, WA; and Talani Casariego, MAI, in Atlanta, GA. The firm continues to onboard talented valuation leaders, with more senior-level hires anticipated over the next month.

About Partner Valuation Advisors

About Partner Engineering and Science, Inc.

Media Contact:

Partner Engineering and Science
Erika Haberlen
Marketing Director, Principal
310-615-4500
[email protected]

Brian Chandler Joins Partner Valuation Advisors to Lead National Senior Housing Practice

Senior Managing Director to Participate in National Leadership Team

April 3, 2023, Chicago – Partner Valuation Advisors, a national commercial real estate valuation advisory firm, appointed Brian Chandler, MAI, CRE, FRICS, as Senior Managing Director. Based in Raleigh, North Carolina, Mr. Chandler will lead its Seniors Housing practice, focused on conducting appraisals, market studies, large portfolio engagements, and consulting assignments for properties on a national basis. He will also be a member of the firm’s national leadership team.

Partner Valuation Advisors’ Senior Managing Director Eric Enloe, MAI, CRE, FRICS, said, “Brian is one of the country’s most respected valuation experts for seniors housing assets. He is counted on to produce actionable intelligence to guide investment decisions by owners and developers, insurance companies, pension fund advisors, government agencies, commercial lending institutions, and investment companies.”

Mr. Chandler brings more than 30 years of commercial real estate experience. Prior to Partner Valuation Advisors, he most recently served as Managing Director for JLL Valuation and Advisory, overseeing the Seniors Housing team for more than six years in Dallas, TX. In 2022, the team was responsible for valuing in total aggregate market values of over $45 billion in seniors housing assets, which was approximately 10% of the total seniors housing market capitalization. Earlier in his career, he served in Managing Director/Partner roles at Integra Realty Resources in Dallas.

Mr. Chandler has worked for some of the top owners and developers, institutional investors, government agencies, and CRE lending institutions including Aegis Living, AEW, Berkadia, Capital One Bank, Columbia Pacific Advisors, Fannie Mae, Grandbridge Real Estate Capital, Greystone, KeyBank, Kisco Senior Living, M&T Bank, PGIM, Protective Life Insurance Company, Truist, and Wells Fargo Bank.

Mr. Chandler holds an MAI designation from the Appraisal Institute, is a member of the American Senior Housing Association (ASHA), and earned a CRE designation from the Counselors of Real Estate in 2012. He received a bachelor’s degree in business administration from the University of North Texas in Denton, Texas.

Partner Valuation Advisors’ team members hold appraisal licenses in all 50 states and the firm has offices in Atlanta, Austin, Baltimore, Chicago, Cleveland, Cincinnati, Dallas, Denver, Des Moines, Indianapolis, Jacksonville, Los Angeles, Kansas City, Knoxville (TN), Miami, New York City, Northern NJ, Phoenix, Raleigh, Seattle, and Washington, D.C.

About Partner Valuation Advisors

About Partner Engineering and Science, Inc.

Media Contact:

Partner Engineering and Science
Erika Haberlen
Marketing Director, Principal
310-615-4500
[email protected]

Strategies for Office Properties in a Down Market

By Eric Enloe, Senior Managing Director

As the office market struggles to recover, property owners and managers are challenged to preserve value through leasing efforts and must embrace resourceful, creative asset management and repositioning strategies.

Read more in this article from GlobeSt.com.

Valuation Advisors Adds Commercial Real Estate Leaders in Washington, D.C. and Kansas City

Ken Jaggers and Lana Lenovitz Join the Firm as Managing Directors

Since Launch Six Months Ago, Firm’s Executed 700 Asset Assignments Valued at More than $20B

March 31, 2023, Chicago – Partner Valuation Advisors, a national commercial real estate valuation advisory firm, continued its U.S. growth by adding two new commercial real estate valuation experts in Washington, D.C., and Kansas City. Joining the Chicago-based company as managing directors are Svetlana “Lana” Lenovitz, MAI, MRICS, in Washington, D.C., and Kenneth Jaggers, MAI, FRICS, in Kansas City.

Since launching in September 2022, Partner Valuation Advisors has completed more than 700 valuations across 40 states with an aggregate commercial real estate value in excess of $20 billion. The Chicago-based, technology-forward firm has grown to more than 50 employees in 20-plus markets nationally, making it one of the fastest-growing commercial real estate valuation advisory companies in the U.S. Partner Valuation Advisors serves investors, lenders, and real estate occupiers.

Partner Valuation Advisors’ Senior Managing Director Eric Enloe, MAI, CRE, FRICS, said, “The recent banking crisis adds to the challenges commercial real estate investors were already facing due to economic uncertainty, elevated inflation, and volatile capital markets. All of those issues add up to the fact that those who invest in, manage or occupy commercial real estate require the advice that experts like Lana and Ken can bring to the table. Partner Valuation Advisors’ continued national growth reflects a growing need for deeper insights to make decisions about assets.”

Kenneth Jaggers brings more than 35 years of commercial real estate appraisal, consulting, and loan underwriting experience. For the past 20 years he has led teams of professionals providing appraisal and consulting services for some of the largest portfolio, acquisition, and infrastructure assignments in the Midwest. Before joining Partner Valuation Advisors, Mr. Jaggers was Managing Director at JLL Valuation Advisory and prior to that he was with Integra Realty Resources.

Mr. Jaggers has appraised commercial properties of all types, primarily for institutional investors, banks, and private owners/developers. He brings expertise with large and/or complex assignments for discerning clients and intended users. Areas of specialty include statutory compliance, highest and best use and feasibility analysis, and disposition consulting.

Lana Lenovitz brings more than 18 years of experience appraising office, industrial, retail, multifamily and special use assets. She leads a team of professionals in the Mid-Atlantic region where she has valued some of the highest profile projects. Prior to joining Partner Valuation Advisors, Ms. Lenovitz served as Managing Director at JLL Valuation Advisory from 2017 to 2023. Earlier in her career she served as Associate Director at Integra Realty Resources in Baltimore.

Ms. Lenovitz’s diverse valuation expertise encompasses multiple applications such as market value appraisals, portfolio valuations, investment advisory services, partial interest valuations, and market rent studies. She has appraised a wide variety of property types, including industrial warehouses, flex properties, manufacturing facilities, truck terminals, automobile service stations, automobile dealerships, car washes, self-storage facilities, restaurants, retail shopping centers, triple net properties, senior housing and skilled nursing facilities, medical and general office buildings, multifamily properties, hospitality properties and development sites.

In joining Partner Valuation Advisors, Mr. Jaggers and Ms. Lenovitz follow three other recent additions: CRE leaders Creighton R. Cross, MAI, AI-GRS, in Knoxville, TN; Justin Alexander, MAI, in Seattle, WA; and Talani Casariego, MAI, in Atlanta, GA. The firm continues to onboard highly qualified valuation staff, with more senior-level hires anticipated over the next month.

Partner Valuation Advisors’ team members hold appraisal licenses in all 50 states and the firm has offices in Atlanta, Austin, Baltimore, Chicago, Cleveland, Cincinnati, Dallas, Denver, Des Moines, Indianapolis, Jacksonville, Los Angeles, Kansas City, Knoxville (TN), Miami, New York City, Northern NJ, Phoenix, Raleigh, Seattle, and Washington, D.C.

About Partner Valuation Advisors

About Partner Engineering and Science, Inc.

Media Contact:

Partner Engineering and Science
Erika Haberlen
Marketing Director, Principal
310-615-4500
[email protected]

Four Ways to Safeguard the Value of Your Construction From a Market Drop

By Eric Enloe, Senior Managing Director

Unlike existing assets, construction projects lack financial history to demonstrate value—there’s no rent roll, leases, or income statements for an appraiser to review. How, then, do commercial valuation consultants place a value on a construction project?

In this article, Eric Enloe, of Partner Valuation Advisors, discusses how to evaluate and protect a construction project’s value.

Partner Valuation Advisors’ Michael Wahl Emphasizes Investors’ Need for Up-to-Date Data

By Michael Wahl, Managing Director

Partner Valuation Advisors' new Managing Director, Michael Wahl, was interviewed by ConnectCRE's Paul Bubny to discuss what insights Michael is seeing in the current market and what investors should be mindful of. In this discussion, Michael discusses property values, factors that could affect valuations, and what data is relevant to the current market. Read the full interview here.

Valuation Advisors Expands National Footprint, Adds CRE Leader in New York City

Partner Valuation Advisors Expands National Footprint in Northeast with CRE Leader in New York City

February 3, 2023, New York City – Partner Valuation Advisors is expanding its U.S. presence in the Northeast with the addition of a commercial real estate expert in New York City. Michael Wahl, MAI, AI-GRS, is joining the national CRE valuation advisory firm as a Managing Director in its New York Office. Mr. Wahl brings significant experience working with banking, agency, and private lending clients throughout the country.

“Partner Valuation Advisors continues to execute on our national growth plan that is designed to efficiently and effectively serve clients across the United States,” said Partner Valuation Advisors’ Senior Managing Director Eric Enloe, MAI, CRE, FRICS. “The strategic addition of Michael broadens our reach and allows us to rapidly execute on single asset and portfolio assignments for all types of lenders, including Freddie Mac and Fannie Mae, as well as investment funds and occupiers.”

Since launching in September 2022, Partner Valuation Advisors has grown to more than 40 employees in 19 markets nationally, making it one of the fastest-growing commercial real estate valuation advisory companies in the country. The Chicago-based, technology-forward firm serves the needs of investors, lenders, and real estate occupiers and performs valuation assignments in all 50 states.

Prior to joining Partner Valuation Advisors, Mr. Wahl served as Managing Director of National Private Lending in Bowery Valuation’s New York office. Earlier in his career, he worked at BBG’s New York office. He brings more than a decade of commercial real estate valuation and brokerage experience, including retail, industrial, and multifamily assets.

Mr. Wahl has appraised roughly $5 billion worth of commercial real estate in more than 40 states over his career. Among the list of valuation and advisory assignments he has executed include those involving specialized multifamily and mixed-use properties on behalf of private lenders, as well as national agency clients.

Mr. Wahl holds licenses in 33 states, as well as MAI and AI-GRS designations from the Appraisal Institute. He earned a bachelor’s degree in economics from Emory University in 2012, and an MBA in Real Estate & Management from NYU’s Stern School of Business in 2022.

Partner Valuation Advisors team members hold appraisal licenses in all 50 states and the firm has offices in Atlanta, Austin, Baltimore, Chicago, Cleveland, Cincinnati, Denver, Des Moines, Indianapolis, Jacksonville, Los Angeles, Kansas City, Knoxville (TN), Miami, New York City, Northern NJ, Phoenix, Seattle, and Washington, D.C.

About Partner Valuation Advisors

About Partner Engineering and Science, Inc.

Partner is the most trusted choice for 3^rd party due diligence and consulting in the commercial real estate industry, providing full-service engineering, environmental, and energy services throughout the Americas, Europe, and around the globe. With a multidisciplinary approach, Partner serves clients at all stages from initial due diligence and design to development and construction, as well as the ongoing maintenance and optimization of a real estate asset.

Media Contact:

Partner Engineering and Science
Erika Haberlen
Marketing Director, Principal
310-615-4500
[email protected]

Eric Enloe Discusses Valuation in WMRE

Eric Enloe Discusses Asset Valuation in a Slow Market on WealthManagement.com

January 27, 2023 - As investment sales and refinancing activity declines, appraisers must rely on other marketplace drivers to value assets. Wealth Management Real Estate interviewed Eric Enloe regarding the challenges of asset valuation in today's market and how values are being determined in the absence of sales data.

Click here to read the article.

2023 Multifamily Outlook: Cautiously Optimistic

By Scott Belksy, Managing Director

At the CREFC (Commercial Real Estate Finance Council) January Conference 2023, stakeholders in the multifamily market discussed, among other topics, their expectations for the coming year. Despite the forecasted recession, most seemed cautiously optimistic, and projections were far from dire. Our own observations of the multifamily market align with this perspective. Read the full outlook here.