Dallas, TX
CBRE Acquires Leading Provider of Senior Housing and Healthcare Appraisal Services
Valuation & Information Group Advances Strategy to Enhance Specialty Appraisal Offerings
June 7, 2023
Media Contact
Senior Director, Corporate Communications, Capital Markets/VAS
CBRE today announced it has acquired Valuation & Information Group (VIG), a leading provider of appraisal and market feasibility services for senior housing and healthcare real estate throughout the United States.
VIG provides valuation services for a wide variety of property types in the senior housing and healthcare sectors, including independent living, assisted living, skilled nursing, medical office buildings, surgery centers, specialty hospitals and general acute-care hospitals. In addition, the firm provides valuation services for HUD and conventional multifamily financing.
"VIG is the premier healthcare valuation firm and its professionals have a deep understanding of the industry; their expertise will be a valuable service for our clients in the rapidly evolving sector," said Tom Edwards, Global President of Valuation and Advisory Services (VAS) for CBRE. "We believe this acquisition combined with our existing national platform will make us the clear leader in senior housing and healthcare appraisal."
VIG is headquartered in Culver City, California, with additional offices in suburban Philadelphia, Austin and Chicago. The firm’s 23 employees will fully integrate with CBRE’s Seniors Housing & Healthcare team within VAS, led by Daniel Lincoln. Marc Lussier and JP LoMonaco will continue to run the incoming team’s operations for CBRE as Executive Vice Presidents, with Dan Schneider leading the execution of assignments in the eastern U.S. as Vice President.
"We’re thrilled to join forces with CBRE, the global leader in real estate services. Their extensive resources and platform will enhance and expand the services we provide to our clients. We're excited about the opportunities that lie ahead as part of the CBRE team," said Mr. Lussier.
The acquisition of VIG reflects CBRE’s ongoing plan to enhance its leadership position in specialty areas of valuation and advisory services. In the last year, CBRE has acquired Cold River Land, a leading provider of property tax payment services; the Los Angeles and Orange County affiliates of IRR, a specialist Right-of-Way appraisal firm; and Millman National Land Services, a leading provider of commercial land surveying services.
Forward-Looking Statements
Certain of the statements in this release regarding acquisition of Valuation & Information Group that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, the ability to integrate the Valuation & Information Group people and operations into CBRE’s existing Valuation & Advisory Services business as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2022 and Form 10-Q for the period ended March 31, 2023. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected].