NEW
YORK, July 24, 2024 /PRNewswire/ -- SitusAMC,
the leading provider of investment advisory, strategic outsourcing,
talent, and technology solutions to the commercial and residential
real estate finance industries, today announced the strategic
decision to retain its Real Estate Valuation Services (REVS)
business and commitment to invest $20MM of capital to expand
technology capabilities for the business. This decision follows a
period of strategic alternative exploration.
ABOUT SITUSAMC'S REAL ESTATE VALUATION SERVICES
SitusAMC's REVS business is a leading provider of independent
commercial real estate valuation services. In 2023, the team
provided valuation services on more than $2
trillion in CRE assets and completed more than 26,000
reviews and appraisals. The business operates globally and features
a broad capability set including:
- Equity Valuation Management Services
- Bank & Lending CRE Valuation Management
Services
- Appraisal & Consulting Services
- Pension Fund Advisory Services
- Daily Valuation Services
SitusAMC's REVS business is highly regarded in the industry,
known for its deep bench of proven, highly credentialed valuation
professionals, a commitment to providing white-glove client
execution, and driven by industry-leading, tech-enabled
platforms.
"Our team's dedication to best-in-class
valuation service is unwavering, and we are focused on investing in
differentiated technology to support our global engagements. We
look forward to continuing our journey with SitusAMC as we continue
to grow the business and expand our position as a leader in the
industry." – Brian Velky, Managing
Director, Global Head of REVS.
STRATEGIC DECISION TO RETAIN THE BUSINESS
Over the past several months, SitusAMC has received extensive
interest in its REVS business. In late 2023, the company entered
into a sale transaction with Altus Group, which ultimately did not
materialize. Despite continued interest from third parties,
SitusAMC has decided to retain its REVS business.
"Due to the interest in the REVS business, we
decided to explore strategic options; however, the market expressed
a desire for choice in their valuation partners and we are happy to
continue offering those solutions as a part of SitusAMC. Our
capital commitment highlights our focus on driving superior
execution and insights for our clients and the broader market." -
Michael Franco. SitusAMC Chief
Executive Officer.
"Customers are increasingly seeking diverse
options for their real estate valuations, and SitusAMC's Real
Estate Valuation Services group stands out as a proven partner with
deep and meaningful relationships across the industry. We are
excited to support SitusAMC as they invest in the REVS business and
drive continued growth, ensuring that their clients receive
unparalleled service and expertise across their valuation needs." –
Agha Khan, Co-Head of Private Equity
at Stone Point Capital, a longstanding investor in
SitusAMC.
FUTURE FOCUS
Backed by its deep commitment to white-glove client service,
highest standards of delivery, and highly credentials and
experienced professionals, SitusAMC's REVS business is well
positioned for expansion within the industry.
To support its growth objectives, SitusAMC has committed $20MM
of technology investments through 2028, with a particular emphasis
on enhancing REVS's industry-leading valuation platforms:
- Valuation Management System (VMS) - a cloud-based platform
that provides workflow and data management as well as robust
real-time reporting capabilities, will see further enhancements via
a next-generation "VMS Next" platform release.
- Daily Valuation System (DVS) - the industry's only
cloud-based daily valuation platform that provides a standardized
workflow and reporting process for net asset valuation reporting,
will also see continued investments to enhance the recently
released product functionality.
"Our REVS team continues to set the standard for real estate
valuations, driven by their best-in-class, tech-enabled services.
We look forward to continuing to invest and support the business as
they work alongside our broader team to power opportunity across
the lifecycle of our clients CRE finance activity." – Anne Jablonski, Executive Managing Director,
Head of CRE, SitusAMC.
For more information about SitusAMC's Real Estate Valuation
Services, please visit
https://www.situsamc.com/real-estate-valuation-services or
contact:
Brian Velky
Managing Director & Global Head
Real Estate Valuation Services
brianvelky@situsamc.com
ABOUT SITUSAMC
SitusAMC is a leading independent provider of investment advisory,
strategic outsourcing, talent, and technology solutions to the
commercial and residential real estate finance industries. The
company helps clients identify and capture opportunities in their
real estate businesses through industry-leading services and
innovative technologies that drive operational efficiency, increase
business effectiveness, and improve market agility across the
entire lifecycle of their global real estate activity.
Media Contact: mediarelations@situsamc.com.
ABOUT STONE POINT
Stone Point is an alternative
investment firm based in Greenwich,
CT, with more than $55 billion
of assets under management. Stone
Point targets investments in companies in the global
financial services industry and related sectors. The firm invests
in alternative asset classes, including private equity through its
flagship Trident Funds and credit through commingled funds and
separately managed accounts. In addition, Stone Point Capital
Markets supports our firm, portfolio companies and other clients by
providing dedicated financing solutions. For more information on
Stone Point, please visit: www.stonepoint.com.
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SOURCE SitusAMC