DALLAS, Oct. 30, 2017 /PRNewswire/ — BBG, Inc., a leading national commercial real estate valuation, advisory and assessment firm, today announced that it has launched BBG Evaluation, a new, USPAP-compliant desktop service for small commercial properties and other assets that do not require a traditional appraisal.
BBG Evaluation uses desktop reports that leverage the firm’s comprehensive nationwide database of commercial property values to provide faster, more cost-effective commercial valuations for lenders, investors and special servicers on qualifying properties. All reports are reviewed by an internal quality control panel that is comprised of BBG’s MAI Certified commercial real estate valuation experts.
“A significant number of the nation’s top financial institutions are already using BBG Evaluation,” said Rodman Schley, BBG Senior Managing Director. “National banks need one point of contact for all their desktop valuations, and BBG Evaluation has the national coverage and overall scale they need to receive a high-quality, USPAP-compliant evaluation.”
What is a Desktop Evaluation?
Desktop evaluation reports leverage BBG’s nationwide database of commercial property values to provide faster, more cost-effective commercial valuations for lenders, investors and special servicers on qualifying properties.
BBG Evaluation follows the U.S. Financial Institutions Reform Recovery and Enforcement Act (FIRREA) guidelines. The team uses the most relevant valuation methodology to deliver a report with an exceptional level of detail on the collateral, sales and rent comparables, current listings, local market conditions, and other valuation factors.
“There is a substantial market sector that is exempt from federal valuation requirements,” said BBG CEO Chris Roach. “BBG Evaluation provides an efficient and cost-effective solution for banks, insurance companies and whole loan and asset-backed investors requiring current assessment of property value to evaluate investments, reduce risk and make financing decisions.”
For more information about utilizing BBG’s Evaluation services, please feel free to contact Rodman Schley, MAI directly at 303-420-1052 Ext. 100.
BBG is a leading independent national commercial real estate valuation, advisory and assessment firm headquartered in Dallas with 25 offices in key U.S. markets. BBG has achieved a reputation for personal attention, on-time delivery and deep expertise in multi-family, office, retail and industrial sectors. For more information about BBG, please visit www.bbgres.com.