JLL has acquired commercial property appraisal and real estate consulting firm Metropolitan Valuation Services (MVS).
The New York metropolitan area company’s 20 valuation professionals will join JLL’s existing team.
MVS’s core competency extends to multi-housing, CBD and suburban office buildings, industrial/warehouse and shopping/retail properties, land, property transfers and market rent studies and appraisals for HUD section 8 properties.
MVS was founded in 2003 by Principal and Co-Founder Steven Schleider.
Clients include major financial institutions, Fortune 500 corporations, REITs, commercial real estate developers, investors, insurance companies, law firms, City of New York and government agencies.
“MVS, a 20-year-old experienced Tri-State team of highly seasoned professionals with a deep and intimate knowledge of New York, is well placed to empower clients with information and knowledge to help them make the best decisions for their real estate assets. Joining forces with MVS enables JLL to enhance our service for existing clients, strengthen our multi-housing capabilities within this buoyant segment and scale our footprint across the U.S.,” said Tony Lenamon, Head of Valuation Advisory at JLL in the Americas.
Executive Vice President Ross Friedman and the existing JLL NYC Tri-State team will join forces with MVS Executive Vice Presidents Peter Rastetter and David Lyon under the leadership of Steven Schleider.
“We have a unique and detailed understanding of the Tri-State area and I’m excited by the opportunity to expand our capabilities to better serve our clients as part of JLL,” said Steven Schleider, President of Metropolitan Valuation Services.
“With JLL, we will have the resources to scale faster, broaden our existing practice areas, serve new asset sectors and to continue assisting investors and lenders in the NYC Tri-State area. We will also advise lenders and owners on navigating the valuation impacts that the energy mandates and sustainability regulations will have on commercial properties. This will all lead to a better understanding of the upside to be gained by creating healthy, sustainable buildings while helping New York City achieve its net zero targets.”
”As the top investment market globally over the last decade and a top-two market for cross-border investment over this time period, New York remains a key gateway city for national portfolios and global capital,” said JLL.
”As economic conditions, mobility patterns, consumer spending and tourism are improving in New York, the market is increasingly solidifying its position as a leading global hub for talent and resilient market for investment.”
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