BBG Acquires New Jersey Real Estate Appraisal Firm
The deal to acquire the real estate appraisal and consulting firm that specializes in litigation support and related services significantly expands BBG’s valuation litigation services and other capabilities in the region and nationwide.
CHATHAM, NJ—National commercial due diligence firm BBG reports it has acquired Izenberg Appraisal Associates, Inc., of Chatham, NJ.
The deal to acquire the real estate appraisal and consulting firm that specializes in litigation support and related services significantly expands BBG’s valuation litigation services and other capabilities in the region and nationwide. The new Chatham office is BBG’s third in the Northeast region and 36th office nationally.
BBG, which offers comprehensive due diligence services including valuation, advisory, property assessment, energy services, cost separation and zoning, has appointed Louis Yorey, MAI, MRICS, as senior managing director of the New Jersey office. Yorey will also remain as the National Practice Leader of BBG’s Advisory Services.
BBG also named Izenberg Appraisal Associates president Louis S. Izenberg, MAI, SRA, as managing director of the New Jersey office. The firm’s employees will also join the BBG office.
Izenberg and his team will continue providing these services to attorneys, private clients, corporations, developers, not-for-profit entities, and numerous federal, state and municipal government agencies.
In a career spanning more than 35 years, Izenberg has appraised thousands of commercial properties in Metropolitan New Jersey. He has focused on the appraisal of commercial properties for litigation, bankruptcy, and eminent domain purposes, arbitration, and estate tax and planning,
Since its inception, Izenberg Appraisal Associates has been involved in numerous precedent-setting cases court cases, including City of Linden v. Benedict Motel, Hartz Mountain v Secaucus Township, JCRA v. Kerrigan, Merrill Creek Reservoir v. Harmony, the Sands Casino bankruptcy and many high-profile litigation assignments.
An active member of the Appraisal Institute, Izenberg served on the organization’s regional Review and Counseling committee and is the prior Board of Director for the Metropolitan NJ Chapter of the Appraisal Institute. He is also a Certified General Real Estate Appraiser in New York and New Jersey.
BBG CEO Chris Roach says of the firm’s latest acquisition: “Our acquisition of Izenberg Appraisal Associates significantly broadens our footprint in the Northeast and further establishes BBG as one of the country’s leading commercial real estate due diligence firms. With this acquisition, we have added appreciably to our litigation support, valuation and other services.”