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INTRODUCTION
Mr.
Ashenden is a senior consultant and appraiser with over 25 years
of experience in the real estate and financial property
industries. He
specializes in the appraisal of institutional grade investment
property, including hotels, retail developments, office buildings,
mixed-use facilities, residential developments, and industrial
property. While his
current practice is regionally based in the Midwest, Mr. Ashenden
has appraised real estate across the United States.Assignments have ranged from a 600,000 square foot office
park on the Eastern Seaboard to a $1.2 billion dollar mixed-use
facility in Northern California. His appraisals and consultations
have been used in connection with real estate portfolio
valuations, financing, feasibility studies, mergers and
acquisitions, bankruptcy proceedings, workout and repositioning
strategies and ad valorem tax appeals.
He has been engaged as an expert witness in litigation
support roles on both the federal and circuit court levels.
Mr. Ashenden's
special area of competence is the planning, coordination, analysis
and review of portfolio valuation assignments for several pension
funds and asset management clients. He is a trusted real estate
advisor to major pension funds, asset managers, and portfolio
managers. He has
analysis experience and consultation background in all types of
commercial and industrial property on a national basis. Mr. Ashenden was awarded membership in the Appraisal
Institute in 1987.
PROFESSIONAL
APPRAISAL DESIGNATION
Member,
Appraisal Institute, MAI, Certificate No. 7998
Appraisal
Institute, Chicago, Illinois
EXPERT
WITNESS/TESTIMONY EXPERIENCE
U.S.
Bankruptcy Court, Hartford, Connecticut, October, 1990
Matter
of the Whitehall/Tremont Hotels
U.S.
Bankruptcy Court, Grand Rapids, Michigan, November 19-24, 1992
Matter
of the Grand Travers Resort
Testified
on several occasions in Circuit Court of Chicago, 1980 to 1988
Testified
on several occasions before arbitration panel in Chicago, 1980 to
1988
Testified
on several occasions before the Chicago Zoning Commission
PROFESSIONAL
APPRAISAL EXPERIENCE
Principal,
Valuation Management Consultants, Inc.,
Chicago, Illinois from September, 1995 to present.
Partner
of this regional Midwest valuation firm specializing in consulting
and appraisal of commercial and industrial investment grade real
estate, financial property and machinery & equipment
valuations.
Senior
Manager, Arthur Andersen & Co.,
Chicago, Illinois from April, 1991 to September, 1995.
Senior
Manager of the Real Estate Services Group of this national
accounting/consulting firm. Areas
of concentration included valuation based consulting, expert
witness litigation support and market studies geared to
acquisitions and dispositions. Responsible for all aspects of
practice management and development.
Principal,
Pannell Kerr Forster,
Chicago, Illinois from December, 1988 to April, 1991.
Partner
of this national accounting/consulting firm in charge of the real
estate consulting practice in Chicago.
Responsibilities included practice development and
management, including sales, staff management, client relations,
and billing and collections.
Senior
Appraiser, Price Associates,
Incorporated, Chicago, Illinois. from October, 1982 to December,
1988.
Senior
Appraiser for this Chicago-based regional appraisal firm.
Narrative appraisal experience included, hotels, nursing
homes, office buildings, apartments, shopping centers, and
industrial properties.
Deputy
Assessor, Cook County Assessor's Office,
Chicago, Illinois. from July, 1980 to July, 1982.
Deputy
Assessor responsible for managing the collection and analysis of
data relative to the quadrennial reassessment process.
Fuller
Commercial Brokerage,
Chicago, Illinois. from September, 1976 to July, 1980.
Active
in the sale, leasing, and management of commercial and resort
properties.
APPRAISAL
EDUCATION COURSES
Appraisal
Institute, Chicago, Illinois
Real
Estate Appraisal Principles, 1A1
Basic
Valuation Procedures, 1A2
Capitalization
Theory and Techniques, Part A
Capitalization
Theory and Techniques, Part B
Case
Studies in Real Estate Valuation, 2-1
Valuation
Analysis and Report Writing, 2-2
Standards
of Professional Appraisal Practice
Litigation
Support Roles for Appraisers
COLLEGE
DEGREE
Bachelor
Degree, United States International University, San Diego, Ca.,
1976.
Major
in International Relation and Finance
GENERAL REAL
ESTATE EDUCATION
Courses
Required for Licensing, Realtors Real Estate School, Chicago,
Illinois, 1975-77
PROFESSIONAL
LICENSES
Certified
General Real Estate Appraiser, State of Illinois, No. 153-000303,
expires September, 2000
Certified
General Real Estate Appraiser, State of Michigan, No. 1201004997
Certified
General Real Estate Appraiser, State of Tennessee, No. CG-1476
PROFESSIONAL
SOCIETY MEMBERSHIPS
Member
Appraisal Institute, MAI
Member
National Board of Examiners, Appraisal Institute
Member
Admissions Committee, Illinois Chapter of Appraisal Institute
Member
Chicago Board of Realtors
Member
National Association of Realtors
Member
Chicago Real Estate Council
Member
National Association of Corporate Real Estate Executives (NACOR)
Member
Urban Land Institute (ULI)
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