Charles Hug, Vice President - Business Development, Corporate Valuation Advisors
David Wilk, Managing Director, Corporate Valuation Advisors
Guidance and Advice that Signigicantly Impacts
Full video coverage and follow up Q&A are available in the left column in 2 segments of approximately three to five minutes each.
OurLIC VIDEO CONVERSATION: Part 1. David Wilk and Charles Hug discusses the discuss Trends in Valuation and their view of Greater Long Island City 20121214
OurLIC VIDEO CONVERSATION: Part 2 David Wilk discusses the Phenomenon of Place Making and offers advice for Long Island City. Corporate Valuation Advisors 20121214
Long Island City, NY December 14, 2012 -
Valuation of real estate and corporations has been at the heart of the recent recession. OurLIC wanted to know what people are thinking. The original re-valuations of real estate in November 2008, called 'Mark-to-Market' valuation, an accounting principle, was part of the trigger that caused massive restructuring of the banking and financial industry. At the time, the SEC required banks and corporations to value real estate assets on the basis of a very quick sale, disregarding any other material factors that might lead to higher valuations. The requirement was ultimately reversed a short few months later.
David Wilk and Charles Hug are experts in valuation. They work for one of the largest independent professional firms specializing in valuations, Corporate Valuation Advisors. The company specializes in valuations and value enhancement strategies for corporation, municipalities and small businesses around the United States
Klea Theoharris is Corporate Valuation Advisors's Astoria / NYC based Regional Director of Business Development. She has highlighted for them the unprecedented growth in Greater Long Island City.
OurLIC invited David Wilk, Managing Director, and Charles Hug, Vice President of Business Development, to meet for an OurLIC VIDEO CONVERSATION so that we could learn about their business as a resource for the LIC / Western Queens communities; and, to gain insight about the trends in valuation today.
Whether you are a leader in government, a small business owner planning your estate, a real estate developer, homeowner in the community, or anyone else interested in valuation, their comments on these two videos are important to you.
- David Wilk has developed a real estate value creation platform that has proven to be very beneficial to municipalities and corporations in terms of generating money and helping create economic hubs for municipalities. OurLIC has attached a slide show describing his methodologies and results. There are quite a few case studies in the presentation.
- There is a "Place making phonomenon going in Long Island City". We have created a way to stimulate demand for the community. The results of that are being shown right now.
- The key is to make Long Island City the place that people want to live and to make their lifestyle.
- By the stakeholders coming together, they have created a way to stimulate demand for the community and its real estate. The results of that are being shown right now.
- Greater Long Island City has been blessed with an 'economic development momentum" that has hit the community. This is something that other communities around the country are trying to achive....but it has to be 'worked'. The community can not just let it grow on its own.
- As the community accepts new projects, there needs to be a plan, a vision, and a story that is getting out to the market that the community can continue to capitalize on.
- The key to the future is to continue what is being done now, and making it even better in the future.
- One strategy for growth is to manage the growth neighborhood by neighborhood in a way that "place makes" the whole area.
- The key factors are:
- Tell the LIC Story.
- Have a close knit group of collaborative stakeholder (bankers, politicians, business owners,universities, hospitals). Everyone needs to be on the same page in terms of the quality of life elements that work together.
- The financial tools are necessary to realize the potential and to execute on the vision. Not all the capital can come from banks. Someone needs to work the entire "Capital Stack" for the financing necessary to acheive the objectives. This means EB5 financing, grants and special tax districts.
- The infrastrcuture needs to be appropriate.
- Finally ...need to create SOCIAL VALUE by stimulating commerce in the area.
(NOTE: Watch here for Part 1 Highlights)
The Long Island City / Astoria Chamber of Commerce will offer a Community Symposium Series "Place Making Economic Development Strategies and Social Enterprise". This will be led by David Wilk, who was an Adjunct Professor at the University of Delaware for 24 years, and is now developing the programs at John Hopkins University. This Community Symposium Series will become part of the Chamber’s "Life long Learning and Business Development Center" at Court Square Place Conference Center.
Corporate Valuation Advisors is a full service, independent, international valuation consulting firm with 25 years of experience in providing well-researched and thoroughly prepared business valuation and asset appraisal services at highly competitive fees. They have a client retention rate in excess of 85%, one of the highest in the industry. Their reports have withstood the scrutiny of third party reviewing bodies, including the IRS, SEC, FASB and other regulatory bodies. In addition to preparing valuations for acquisition related purposes, Corporate Valuation Advisors also prepares business enterprise valuations, stock and option valuations, solvency and fairness opinions and appraisals of real estate and tangible personal property.
The company has an excellent presentation of itself contained in two documents:
Corporate Valuation Advisors has developed a flexible, highly competitive fee schedule tailored for corporations of every size, family businesses, private equity firms, hedge funds, law firms and CPA firms.
The Managing Directors of their Professional Services divisions all have a minimum of twenty years experience in their respective valuation disciplines: Transactional Opinions (Fairness, Solvency Opinions & Capital Surplus Opinions), Business Enterprise Valuations, Tangible & Intangible Asset Appraisals, Stock & Option valuations and Property Tax reduction services.
The services the firm provides include:
- Fairness and solvency Opinions
- Appraisals of Tangible & Intangible Assets and Real Estate
- Capital Surplus/Adequacy Analyses (dividend grant financings )
- Valuations of Stock Options & Restricted Stock
- Portfolio Company Valuations
- Goodwill Impairment Analyses
- Property Tax Services (identifying, negotiating and securing significant real & personal property tax savings at portfolio companies)
- Audit Support services pertaining to post-acquisition transactions and for Fresh-Start Accounting requirements.
The firm is noted for its high degree of technical expertise and extensive research conducted on every assignment. The directors of the company’s Professional Services divisions (Business Valuation, Financial Valuation, Tangible Assets, Intangible Assets and Property Tax) all have over 20 years’ experience in their respective disciplines and they belong to many professional societies and valuation organizations.
Corporate Valuation Advisors’ real estate value creation platform has a proven ability to uncover millions of dollars for its clients. Senior executives navigating their organizations through rapidly-changing business conditions often overlook the earnings potential of their corporate capital dedicated to real estate. Their experience shows that executives who align their constantly evolving business strategies with real estate decisions, enhance liquidity, EBITDA, and stakeholder value, and insure their capital is being optimized. A similar scenario exists in the municipal sector.
Corporate Valuation Advisors’ real estate advisory group helps senior management (and municipalities/institutions) unlock hidden value in their real estate portfolios within the following areas of focus:
- Real Estate Portfolio Analysis for Earnings Opportunities
- Cost Savings & Occupancy Cost Reductions
- Value Creation and Repositioning of Excess Real Estate Assets