Appraisal & Valuation Consultancy
Our sister company, M & B Appraisal Group, provides sophisticated valuation services to a wide range of clients – lending institutions, private lenders, business corporations, pension funds, insurance companies, federal and state agencies, non-profit groups and associations, attorneys, investors and developers. M&B was established in 1991 in Washington, DC. M&B is a trade name for Marcus Asset Group, Inc. which is a registered CBE (Certified Business Enterprise).
Valuation of Real Property
Financing, Estates, Land Assemblage & Development Studies, IRS-related Valuation Issues, Foreclosure/Disposition, Portfolio evaluation, Right of Way Valuations, Easements, Establish Market Rents, Market Value Contract Negotiations, Environmentally Impacted Properties.
Market Analysis and Insight
Appraisals in today’s complex marketplace require more than a perfunctory review of historical data and a standardized valuation technique. Each assignment requires a thorough review of the unique features of the real property and markets being analyzed and use of the proper approach to the valuation. Such advanced knowledge of the market is best gained as a participant in transactions in the local market. Market sensitive analysis requires that the appraiser or analyst have the market knowledge to simulate market behavior, a difficult task for those with more narrowly based real estate backgrounds. Another important strength of the company is the technical expertise of the principals and staff, including sophisticated computer-aided financial analysis and obtaining quality research data, critical to reliable results.
The firm is particularly active in work with governmental entities (Veterans Administration, DHCD, DCHFA, D.C. Office of Property Management, National Capital Revitalization Corporation); non-profit housing groups (MANNA, SOME, LAYC, Mission First, Development Corporation of Columbia Heights, House of Ruth, Tenant Groups, Micasa) and private lenders/developers. In addition, the firm is very active in the appraisal of educational institutions in Washington, D.C., particularly Charter Schools.
A short qualifications summary of principal appraisers is listed here. Complete qualification statement for all principals and staff available upon request.
Walter L. Bohorfoush, MAI, SRA, ASA
35 yearss of experience in real estate. Certified General Appraiser in DC and Maryland. B.S. University of Maryland with graduate work at John Hopkins, University of Maryland and the University of Wisconsin.
Mr. Bohorfoush work history includes principal of Bohorfoush Appraisal Services, partner with Charles M. Merkle & Associates, Inc.; and the U.S. Army Corps of Engineers where he conducted appraisal review and the evaluation of potential development opportunities, including the Enhanced Use Leasing program. Mr. Bohorfoush was a vice president with Chevy Chase Federal Savings Bank in charge of large scale multi- and mixed-use projects. With the Pennsylvania Avenue Development Corp. (PADC) he structured and merchandised the financing and construction of office and mixed-use projects as a Development Director. Projects involved financial feasibility and appraisal of $100 million of land and $1 billion of buildings, including entire city blocks of downtown D.C. Property types included shopping centers, theaters, office buildings and housing. Financial structuring included oversight of preparation of ground leases and purchase agreements, often including complex profit participation by PADC. At the Department of Medicine and Surgery his work included analysis, appraisal and site selection of medical-related facilities, including office buildings, hospitals and nursing homes to be used for clinical and outpatient needs. Mr. Bohorfoush has provided testimony at all levels, including Congressional and regulatory bodies.
Ernest L. Marcus, MBA
30 years of experience in real estate appraisal and consulting, development and investment.
Certified General Appraiser – D.C. Education: B.B.A. – Finance – George Washington U. (1978).
M.B.A. – Real Estate & Urban Development – American University. (1980). Experience History: M&B Appraisal Group: (1991 – Current). Director of M & B Appraisal Group. All property types. Major assignments in D.C. have included Downtown office buildings, as well as secondary office markets such as Capitol Hill, Adams Morgan, Shaw, Anacostia, U Street Corridor and Dupont Circle. Suburban office appraisals undertaken in Northern Virginia and Prince George’s County, Md. Retail property appraisals in D.C. have included the neighborhoods of Georgetown, H Street, N.E., Georgia Avenue, Anacostia and Mt. Pleasant. Suburban retail appraisals have been throughout the metro area. Land appraisals have included large undeveloped parcels in the Chinatown area, the U Street corridor and industrial areas along South Capitol Street, S.E. Other substantial land appraisal work in various areas of Northern Virginia. Multi-family property assignments have included areas of Northeast D.C., 14th Street Corridor, Anacostia and Dupont Circle.