6A — July 13 - 26, 2018 — Tax Issues & Accounting — Financial Digest — M id A tlantic
Real Estate Journal
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T ax I ssues & A ccounting
Leveraging both firms’ years of experience serving the valuation & appraisals niche market Sobel & Co. Valuation Practice and EAC Valuations LLC merge L CVAs and many other cer- tifications that broaden the scope of both firms.
of experience serving the valuation and appraisals niche market, we are posi- tioned to effectively address the needs of the corporate business community,” Sobel continued. The well-established EAC brand will continue to go to market independently, as well as together, under Sobel Valuations. This flexibility enables them to assemble a team of professionals across a wide range of disciplines. Their combined staff hold designations including CPAs, CFEs, MBAs, CFFs, ASAs,
and IFRS), Appraisals of Intangible Assets, Deferred Compensation, and Purchase Price Allocations for Finan- cial Reporting, and Fair Market Value Appraisals for Property Tax, Insurance, Corporate Planning, Merg- ers & Acquisitions, and Gift/ Estate Appraisal. EAC has almost 50 years as a leader in the valuation community completing more than 14,000 appraisals for clients rang- ing from multi-billion dollar companies to privately-held manufacturing and service companies. Joining our depth
of experience with Sobel & Co.’s 60+ year legacy is a positive step for both orga- nizations, and most impor- tantly, for the clients we serve,” added Merenda. The move will reinforce existing services and further expand the menu of Sobel & Co.’s valuation capabili- ties, which include busi- ness valuations, financial reporting valuations, stra- tegic advisory services, com- mercial damages, corporate and partnership disputes, matrimonial dissolutions, estate and gift valuations, shareholder and partner buy-outs, mergers & acquisi- tions and a diversity of other valuation services. Whether the company is a start-up or a mature established organi- zation, an independent busi- ness valuation is a proven tool for strategic planning. Team members from both practice groups will collabo- rate to enhance and compli- ment these options, adding valuations for machinery and equipment, commercial and industrial real estate, in- tangible assets, and deferred compensation to the mix. The practice will also provide ap- praisals for insurance place- ment, personal property tax disputes and purchase price allocations. Waterstone Defeasance closes on a $11.5 Million CMBS Loan FRESH MEADOWS, NY — Waterstone Defeasance recently closed a defeasance transaction for a $11.5 mil- lion CMBS loan, secured by an office property in Fresh Meadows, NY. Waterstone guided the owners through the defeasance process co- inciding with the owners’ refinance of their loan. As the defeasance consul- tant, Waterstone managed the activities of the numer- ous parties involved with the transaction in order to meet the borrower’s closing schedule. Parties associated with a defeasance transac- tion typically include the servicer, servicer’s counsel, borrower, borrower’s coun- sel, securities broker, cus- todian, accountant, rating agencies, and the successor borrower.
IVINGSTON, NJ — “We are pleased to announce that EAC Valuations PA has joined the Sobel & Co. Valuation Practice to create Sobel Val- uations LLC, a wholly-owned subsidiary of Sobel & Co. ,” said Alan Sobel , managing member of the firm. “From the first time Frank Merenda , president and CEO of EAC Valuations, met with the Sobel & Co. valuation team, we quickly recognized the power of com- bining our two groups. By leveraging both firms’ years
The Sobel & Co. Valua- tion Practice will benefit from Frank’s adherence to EAC’s long standing mis- sion, his deep commitment to its high standards and his well-regarded valuation and appraisal expertise gained throughout his years in the top leadership role at EAC. “I am glad that I have the opportunity to draw on my experiences conducting a wide variety of valuations, such as Fair Value (both ASC
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Recently Closed Transactions
$5.35 Million Commercial real estate loan to refinance a 27,000 square foot medical office building located in Middlesex County, NJ. $32.4 Million Construction to permanent mortgage loan for the development of a 134-unit multi-family property with 14,500 square feet of retail space located in Monmouth County, NJ. $5.0 Million Construction to permanent mortgage loan for development of a 22,000 square foot medical office building located in Somerset County, NJ. $2.4 Million Commercial real estate loan to refinance two mixed use properties with 19 residential rental units and one 2,200 square foot retail unit located in Philadelphia, PA.
$17.25 Million Commercial real estate loan to refinance a 54,000 square foot automobile dealership property located in Bergen County, NJ. $18.0 Million Construction to permanent commercial real estate loan to finance development of an 80-unit multi-family property located in Bergen County, NJ. $4.9 Million Commercial real estate loan to refinance a 72-unit multi-family property located in Orange County, NY. $6.4 Million Commercial real estate loan to refinance an owner-occupied 100,000-square foot warehouse distribution building located in Middlesex County, NJ.
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