Situs, the premier global provider of strategic business solutions for the finance and real estate industries, announced today that its wholly owned subsidiary, Situs RERC, has hired Andrew Sabatini, MAI, and Tom Johnson as Managing Directors and Frank Yanofsky, CPA, as Director in the Valuation Management Group. Andrew, Tom and Frank will be based in the New York metro area.
The Valuation Management Group will now be co-headed by Brian Velky and Andrew Sabatini, both reporting to Ken Riggs, Situs RERC's President. As co-heads, Brian and Andrew will work together to continue to grow the business, following on the heels of wins with California Public Employees' Retirement System (CalPERS) and the Oregon State Treasury on behalf of the Oregon Public Employees' Retirement Fund, and continue to service our current clients such as the California State Teachers' Retirement System (CalSTRS), among others. In total, Situs RERC provides nearly $200 billion in quarterly fair value reporting.
"The expansion of the valuation management group is a testament to the great work done by Brian Velky and his team over the years, building deep client relationships and bringing in substantial new business. We are grateful to Brian for his leadership in helping make possible the hiring of Andrew, Frank and Tom," said Riggs.
"Andrew, Tom and Frank have been known to Situs RERC for many years as some of the top professionals in the valuation industry, and we are delighted they are joining Situs RERC to work with leadership to build on the legacy of success and help drive further growth," said Situs President Nick Rudenstine.
"Situs RERC is one of the most trusted names in real estate advisory and a company I've long admired. I'm very excited to be able to join the team and help the Valuation Management Group grow for many years to come," said Sabatini.
Andrew comes to Situs RERC from National Valuation Consultants (NVC) where he led the real estate advisory services division, with valuation management responsibilities for over $50 billion in 700-900 assets on a quarterly basis. Prior to NVC, he worked for Prudential Investment Management as a Director of Valuations and was part of the Real Estate Business Advisory Services Group at PricewaterhouseCoopers, where he was engaged in real estate consulting, valuation, appraisal management, research and underwriting. Frank was a Director for NVC's Real Estate Advisory Services, and prior to that he worked in the Real Estate Advisory and Alternatives Audit Groups at PricewaterhouseCoopers (PwC). Tom served as a Managing Director for NVC's Real Estate Advisor Services division. Prior to joining NVC, Tom served as the Retail Director for New Market Real Estate Group and as Director of PwC's Real Estate Business Advisory Services group in the New York metro region.
Situs is the preeminent advisor to clients to evaluate, optimize, and manage commercial and residential real estate and related assets. Since 1985, Situs has set the standard for service, quality and execution. Situs has offices across the US and Europe and has been involved in more than $1 trillion of real estate debt and equity deals. A rated servicer with Moody's, Fitch and Morningstar, Situs has more than $165 billion of assets under management and is ranked a top 20 servicer in multiple categories by the Mortgage Bankers Association. In 2016, Situs received a second consecutive "Advisor of the Year" award by Real Estate Finance & Investment magazine, and the "Capital Advisor Firm of the Year" award by Property Investor Europe. In 2017, the firm won the "Industry Contributor of the Year" award from Real Estate Finance & Investment magazine.