Walker & Dunlop, Inc. and GeoPhy announced today that its appraisal business, Apprise, has expanded its Valuation for Financial Reporting practice group with the addition of Melissa Lofing as Managing Director, co-leading the national practice alongside Managing Director, Adriane Bookwalter.
Apprise’s Valuation for Financial Reporting specialty practice group offers real estate valuations for financial reporting purposes, including fair value measurement for debt and equity, net asset value, impairment analysis, purchase price accounting, and others. Apprise’s proprietary technology, unparalleled data, and expert team creates unique efficiencies that ultimately save time for its clients. Apprise’s team of valuation professionals have extensive knowledge of all property types and accounting requirements for both GAAP and IFRS.
“Ms. Lofing brings more than 20 years of industry experience to Apprise. We’re thrilled to bring her on board and are confident that her strong background in financial services will immediately benefit our current and future customers, particularly on portfolio valuations,” stated Ms. Bookwalter.
Prior to joining Walker & Dunlop, Ms. Lofing was a Managing Director of the Financial Reporting Practice within the Valuation & Advisory group at Cushman & Wakefield. Before that, she was a Managing Director with KPMG LLP, where she worked for close to 15 years. She has consulted with real estate clients in various industries throughout her career, including multifamily, hospitality, healthcare, retail, residential development, manufacturing, and financial services.
Ms. Lofing added, “I am pleased to be joining the talented Apprise team and to leverage the firm’s innovative valuation approach to provide transparent, high-quality valuations. This new technology and platform will provide valuable insights to help our clients meet their accounting and reporting requirements.”
“There is an estimated $16 trillion worth of commercial real estate in the U.S. As we build out our Financial Reporting Practice Group, our valuation offerings can serve a much broader client base,” stated Meghan Czechowski, Managing Director and Valuation Lead for Apprise. “With over 20 years of data and our dedication to digital innovation, we can provide richer data and deeper insights to all of our clients – and we can do so faster than ever before.”
Apprise, a joint venture between Walker & Dunlop and GeoPhy, delivers USPAP/FIRREA compliant multifamily appraisals with unprecedented property- and market-level insights in as little as five business days. Apprise employs industry-leading data analytics and valuation software that allows its appraisers to more efficiently and consistently apply valuation methods in well-supported appraisals. Focused exclusively on the U.S. market, Apprise currently covers more than 40 states and is targeting nationwide coverage by the end of 2020. Cumulatively, the team has completed appraisals for over $70 billion worth of commercial real estate properties per year. For more information on Apprise, visit https://www.apprise.us.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine’s Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop’s 950+ professionals in 41 offices across the nation have an unyielding commitment to client satisfaction.
GeoPhy, with U.S. headquarters in New York City, helps lenders and investors understand property value and its underlying drivers. The company sources, links, and cleanses traditional and unconventional data, then applies advanced algorithms to provide a unique perspective on commercial property values. GeoPhy’s unique approach provides the industry’s most accurate, objective property valuations and tools that allow users to develop a deeper understanding of the factors influencing property values.