The Phoenix office Valuation and Advisory team has a new teammate, Senior Vice President Lou Newman. Lou has joined Vice President Stephanie Rinard to help grow the Valuation and Advisory platform in Phoenix. We sat down to get to know them better.
What is valuation and advisory services and how does it differ from other service lines in the office?
“JLL valuation and advisory services include property valuations, market and feasibility studies, due diligence, purchase price allocations, property tax services and litigation support,” said Lou. “These services can be stand-alone, or to complement and add value to our other service lines.”
What is your individual role and how do you work together?
“Property tax is one of the largest expenses for commercial property owners, and over-assessment can create a competitive disadvantage,” said Lou. “My role is to ensure that the property of JLL clients is assessed and taxed appropriately. This is achieved through proactive engagement with taxing jurisdictions, administrative appeal and litigation management and by providing expert testimony.”
“While Lou’s role is more specific to taxation and litigation, my focus in real estate valuation is broader,” said Stephanie. “Typical valuations are utilized for various purposes including acquisitions, underwriting for financing, tax appeal, leasing, litigation, disposition and divestments to REITs, pension funds, financial institutions, developers, owners, tenants, governments and lawyers. Valuations are for various property types including commercial properties, industrial, land, office, multifamily, retail and special use properties, such as, convenience stores/gas stations, seniors housing, hotels and self-storage facilities.
By sharing our individual perspectives and knowledge on industry trends, valuation methodology and legal issues, Lou and I leverage our individual strengths and experience to provide comprehensive support to JLL clients, and our other service line providers.”
What do you like to do when you’re not in the office?
“I enjoy spending time with my loved ones, including my two fur-babies, a Savannah cat and a black cat from the AZ Humane Society,” said Stephanie. “I love to laugh and do things outdoors like hiking and exploring new trails in Arizona.”
“I spend time with my family and friends,” said Lou. “I enjoy golfing on my weekends. I also love cooking and with that comes eating! I recently spent two years on the board of directors for a major appraisal organization.”
If you didn’t have to sleep, what would you do with the extra time?
“I’d start with night golf,” said Lou.
“I would finally remodel my house,” said Stephanie.
What is something you think everyone should do at least once in their lives?
“Skydive, travel and explore,” said Stephanie. “Do things that push the limits of your comfort zone.”
“I’d do more volunteer work,” said Lou. “My service in the IRS Volunteer Income Tax Assistance (VITA) program was a great experience for me.”