Apprise Adds Managing Director to Dedicated Financial Reporting Valuation Group

Rhea-AI Summary

Walker & Dunlop has expanded its Apprise appraisal business by adding Melissa Lofing as Managing Director to co-lead its Valuation for Financial Reporting practice. This group specializes in real estate valuations for financial reporting, leveraging technology and data for efficiency. Lofing brings over 20 years of experience from Cushman & Wakefield and KPMG, enhancing Apprise's capabilities in portfolio valuations. With an estimated $16 trillion in U.S. commercial real estate, the firm aims to increase its client base and streamline valuation processes across 40 states, targeting nationwide coverage by year-end.

Positive

• Addition of experienced Managing Director, Melissa Lofing, enhancing leadership in the Valuation for Financial Reporting practice.
• Access to a larger client base due to the estimated $16 trillion U.S. commercial real estate market.
• Apprise's advanced technology and data analytics improve the efficiency and quality of evaluations.

Negative

• None.

BETHESDA, Md., Dec. 16, 2020 /PRNewswire/ -- 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.

About GeoPhy
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.

View original content to download multimedia:http://www.prnewswire.com/news-releases/apprise-adds-managing-director-to-dedicated-financial-reporting-valuation-group-301194541.html

SOURCE Walker & Dunlop, Inc.

FAQ

What recent appointment did Walker & Dunlop announce?

Walker & Dunlop announced the addition of Melissa Lofing as Managing Director to its Apprise Valuation for Financial Reporting practice.

How does Apprise enhance its appraisal services in the financial reporting sector?

Apprise enhances its services through proprietary technology and extensive data, providing efficient real estate valuations for financial reporting.

What is the estimated value of commercial real estate in the U.S. mentioned by Walker & Dunlop?

Walker & Dunlop mentioned that there is an estimated $16 trillion worth of commercial real estate in the U.S.

What is the significance of the appointment of Melissa Lofing for Walker & Dunlop's future?

Melissa Lofing's appointment is expected to immediately benefit Walker & Dunlop's customers in portfolio valuations, leveraging her 20 years of industry experience.

How many states does Apprise currently cover with its appraisal services?

Apprise currently covers more than 40 states and aims for nationwide coverage by the end of 2020.