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IRR Launches IRR Hotels Specialty Practice Group Jan 4, 2018

IRR Launches IRR Hotels Specialty Practice Group

Integra Realty Resources Launches Hotel Specialty Practice Group
in Response to Unprecedented Demand in Hospitality Sector

New Group Led by Seasoned Industry Veterans
Jeff A. Greenwald, James V. Andrews, and Julie Fugitt-Schultz

DENVER, CO — (January 4, 2017) — In response to the unprecedented demand for valuation services in the hospitality sector, Integra Realty Resources (IRR), North America’s largest independent commercial real estate valuation and consulting firm, today announced a fourth quarter launch of IRR Hotels. The hospitality specialty practice group offers valuation services for lending, market/feasibility studies, insurance appraisals, and litigation support. Jeff A. Greenwald, MAI, SRA, AI-GRS, ASA, FRICS, a nearly 30-year industry veteran serves as National Practice Leader of IRR Hotels. Seasoned hospitality valuation experts James V. Andrews, MAI, CRE, FRICS, ASA/BV and Julie Fugitt-Schultz, CCIM will co-manage the practice group.

Over the past 36 months, IRR has completed 2,500 hospitality assignments totaling more than $25 billion in asset value, ranging from small, independently owned bed and breakfasts, to major luxury hotel brand portfolios.

“The hospitality industry continues its consolidation, and IRR Hotels professionals are dedicated solely to hospitality advisory services to meet our customers’ expectations for true specialization,” said Anthony M. Graziano, MAI, CRE, Chairman of Integra Realty Resources. “Recent challenges faced by owners and investors with properties in hurricane affected areas create even stronger demand for accurate commercial real estate valuation and advisory services in the sector. IRR-Hotels practice leaders will oversee an initial team of 30 dedicated hospitality professionals located throughout the U.S. and Caribbean.  I’m confident Jeff, Jim, and Julie will significantly expand IRR’s strong presence in the hospitality sector to our clients’ benefit.”

In addition to his nearly 30 years of experience as a commercial appraiser, Greenwald brings more than a decade of prior experience as a successful real estate developer and commercial real estate broker. He serves as Senior Managing Director and Principal of IRR-San Diego, where his hospitality valuation team has completed notable assignments including, Town and Country Resort Convention Center, the largest privately owned convention and meeting hotel in San Diego with 954 rooms; the 395-room Sheraton Atlanta Airport hotel, recently acquired by the City of Atlanta; Lake Arrowhead Resort & Spa with 173 rooms in Lake Arrowhead, CA; Hyatt Regency Mission Bay Spa and Marina, an 18-story, two-tower mixed-use project with 429 rooms and 187 boat slips located near the beach in San Diego’s Mission Bay; Bahia Resort Hotel with 314 rooms on picturesque Mission Bay in San Diego; Pacific Edge in Laguna Beach, an oceanfront hotel; and the proposed $100 million Crowne Plaza, Staybridge Suites dual-branded hotel towers in downtown San Diego.

“What sets IRR Hotels apart is our highly experienced senior management professionals that are on the ground in every major U.S. market and the Caribbean,” said Greenwald. “Our expert leaders are armed with historical data and the latest research and analytics derived from our proprietary technology platform that allows us to offer the most accurate, hyper local, regional and national perspective on hospitality property values and trends, which is invaluable to our clients.”

In addition to his new leadership role within IRR-Hotels, Andrews, a 30-plus year commercial real estate and business valuation industry veteran, serves as Senior Managing Director and Principal of IRR-Caribbean. In this capacity, Andrews oversees the IRR-Caribbean offices in the Cayman Islands, U.S. Virgin Islands, the Bahamas and Puerto Rico. Assignments range from luxury boutique hotels up to large all-inclusive resorts valued in excess of $300 million. Trophy property assignments include The Ritz-Carlton Grand Cayman, a 390-unit luxury island resort set on 144 acres; The all-inclusive Sonesta Maho and Ocean Point resorts in St. Maarten with 535 guest rooms; Beaches Resort and Villages, an all-inclusive resort in Turks and Caicos consisting of four separate resort “villages”; and The Westin Grand Cayman Resort & Spa, a 343-room beachfront luxury resort fronting the famous Seven Mile Beach.

“The Caribbean continues to be a dominant presence amongst the world’s top tourist destinations,” said Andrews. “IRR is the only US-national valuation and consulting firm with boots on the ground in the region, and with a finger on the pulse of the thriving hotel development sector here.”

In addition to her newly appointed role as National Co-Practice Leader of IRR-Hotels, Fugitt-Schultz continues to serve as Director, Hospitality Valuation of IRR-Memphis/Jackson.  She brings more than 20 years of industry experience, having managed a broad range of commercial real estate valuation assignments with an emphasis on trophy quality assets and hospitality properties, along with acquisitions experience for institutional quality assets with single asset values ranging from $200 million to over one billion dollars. Prior to joining IRR, Fugitt-Schultz served as Vice President of JLL, where she focused on appraisals, market studies, and consulting assignments nationwide. Notable valuation assignments include The Drake Hotel, an iconic Chicago, Illinois landmark hotel with 535 luxury guest rooms; The Peter Island Resort and Spa, a five-star, luxury resort in British Virgin Islands featuring 55 deluxe beachfront rooms and villas; and the Ritz Carlton Hotel and Residences, a luxury five-star, 13-story resort located on Key Biscayne island in Florida, featuring 450 guest rooms.

For more information on IRR-Hotels, please contact IRR-Hotels practice leader Jeff Greenwald at (858) 259-4900 or visit

You can also learn more by reading this interview in Bisnow.

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Each IRR office is led by an MAI-designated Senior Managing Director, industry leaders who have over 25 years, on average, of commercial real estate experience in their local markets.
Click to zoom in/out Denver, CO 2000 S. Colorado Blvd
Suite 10800 Tower 1
Denver, CO 80222
Phone: 303-300-3320
Fax: 303-300-3789
Boston, MA Faneuil Hall Marketplace
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Boston, MA 02109
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Suite 310
Seattle, WA 98101
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Portland, OR 1220 SW Morrison Street
Suite 800
Portland, OR 97205
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Boise, ID RiverWalk Center
1661 W. Shoreline Dr. Suite 200
Boise, ID 83702
Phone: 208-342-2500
Fax: 208-342-2220
Salt Lake City, UT 5107 South 900 East
Suite 200
Salt Lake City, UT 84117
Phone: 801-263-9700
Fax: 801-263-9709
Las Vegas, NV 8367 West Flamingo Road
Suite 100
Las Vegas, NV 89147
Phone: 702-869-0442
Fax: 702-869-0955
Phoenix, AZ 5225 North Central Ave.
Suite 235
Phoenix, AZ 85012
Phone: 602-266-5599
Fax: 602-266-1515
Sacramento, CA 3825 Atherton Road
Suite 500
Rocklin, CA 95765
Phone: 916-435-3883
Fax: 916-435-4774
San Francisco, CA 315 Montgomery Street
9th Floor
San Francisco, CA 94104
Phone: 415-715-4690
Fax: 916-435-4774
Metro LA 150 South Los Robles Avenue
Suite 850
Pasadena, CA 91101
Phone: 626-792-2107
Fax: 626-792-4180
Los Angeles, CA 16030 Ventura Boulevard
Suite 620
Encino, CA 91436-4473
Phone: 818-290-5400
Fax: 818-290-5401
Orange County, CA IRR-Corporate
Laguna Hills, CA 92653
Phone: 212-255-7858
Fax: 646-424-1869
San Diego, CA 5330 Carroll Canyon Road
Suite 100
San Diego, CA 92121
Phone: 858-259-4900
Fax: 858-259-4910
Miami, FL 9155 S. Dadeland Boulevard
Suite 1208
Miami, FL 33156
Phone: 305-670-0001
Fax: 305-670-2276
Naples, FL 2770 Horseshoe Drive S
Suite 3
Naples, FL 34104
Phone: 239-643-6888
Fax: 239-643-6871
Tampa, FL 550 North Reo Street
Suite 220
Tampa, FL 33609
Phone: 813-287-1000
Fax: 813-281-0681
Orlando, FL 326 North Magnolia Avenue
Orlando, FL 32801-2431
Phone: 407-843-3377
Fax: 407-841-3823
Jacksonville, FL IRR-Corporate
Jacksonville, FL 32217
Phone: 212-255-7858
Fax: 646-424-1869
Charleston, SC 11-C Isabella Street
Charleston, SC 29403
Phone: 843-718-2125
Fax: 843-718-2058
Atlanta, GA IRR-Corporate
Atlanta, GA 30309
Phone: 212-255-7858
Fax: 646-424-1869
Birmingham, AL 880 Montclair Road
Suite 275
Birmingham, AL 35213
Phone: 205-949-5995
Fax: 205-271-2389
Jackson, MS 617 Renaissance Way
Suite 100
Ridgeland, MS 39157
Phone: 601-714-1665
Fax: 601-500-5314
Dallas, TX 1100 Mira Vista Blvd.
Suite 300
Plano, TX 75093
Phone: 972-881-7191
Fax: 972-733-1403
Fort Worth, TX 1100 Mira Vista Blvd.
Suite 300
Plano, TX 75093
Phone: 972-732-0051
Fax: 972-733-1403
Austin, TX 401 Congress Avenue
Suite 1540
Austin, TX 78701
Phone: 512-924-1345
Fax: 646-424-1869
Memphis, TN 1661 International Drive
Suite 330
Memphis, TN 38120
Phone: 901-322-1701
Fax: 901-767-4918
Tulsa, OK IRR-Corporate
Tulsa, OK 74136
Phone: 212-255-7858
Fax: 646-424-1869
Kansas City, MO/KS IRR-Corporate
Westwood, KS 66205
Phone: 212-255-7858
Fax: 646-424-1869
Providence, RI 365 Eddy Street
Providence, RI 02903
Phone: 401-273-7710
Fax: 401-273-7410
Syracuse, NY 120 East Washington Street
Suite 525
Syracuse, NY 13202
Phone: 315-422-5577
Fax: 315-422-5295
Hartford, CT 97 Broad Street
Middletown, CT 06457
Phone: 860-291-8997
Fax: 401-273-7410
New York, NY IRR-Corporate
New York, NY 10036
Phone: 212-255-7858
Fax: 646-424-1869
Northern New Jersey IRR-Corporate
Whippany, NJ 07981
Phone: 212-255-7858
Fax: 646-424-1869
Coastal New Jersey 1415 Hooper Ave.
Suite 306
Toms River, NJ 08753
Phone: 732-244-7000
Fax: 732-505-9498
Philadelphia, PA IRR-Corporate
Philadelphia, PA 19102
Phone: 212-255-7858
Fax: 646-424-1869
Wilmington, DE IRR-Corporate
Wilmington, DE 19805
Phone: 212-255-7858
Fax: 646-424-1869
Baltimore, MD IRR-Corporate
Baltimore, MD 21031
Phone: 212-255-7858
Fax: 646-424-1869
Washington, DC IRR-Corporate
Washington, DC 20002
Phone: 212-255-7858
Fax: 646-424-1869
Pittsburgh, PA 2591 Wexford Bayne Road
Suite 102
Sewickley, PA 15143
Phone: 724-742-3300
Fax: 724-742-3390
Cleveland, OH 850 Euclid Ave.
Suite 952
Cleveland, OH 44114
Phone: 330-659-3640
Fax: 330-659-3645
Columbus, OH 6241 Riverside Drive
Dublin, OH 43017
Phone: 614-764-8040
Fax: 614-764-8050
Saint Louis, MO IRR-Corporate
Saint Louis, MO 63105
Phone: 212-255-7858
Fax: 646-424-1869
Chicago, IL 400 E Randolph St.
Suite 715
Chicago, IL 60601
Phone: 312-565-0977
Fax: 312-565-3436
Minneapolis, MN 8012 Old Cedar Avenue South
Minneapolis, MN 55425
Phone: 612-339-7700
Fax: 612-339-7937
Nashville, TN 1894 General George Patton Drive
Suite 300
Franklin, TN 37067
Phone: 615-628-8275
Fax: 615-628-8286
Richmond, VA 7110 Forest Avenue
Suite 202
Richmond, VA 23226
Phone: 804-346-2600
Fax: 804-747-9140
Greensboro, NC 5411-A Friendly Avenue
Greensboro, NC 27410
Phone: 336-676-6033
Fax: 336-676-6025
Raleigh, NC 8382 Six Forks Road
Suite 200
Raleigh, NC 27615
Phone: 919-847-1717
Fax: 919-847-1714
Charlotte, NC 214 W. Tremont Ave.
Suite 200
Charlotte, NC 28203
Phone: 704-376-0295
Fax: 704-342-3704
Columbia, SC 500 Lawand Drive
2nd Floor
Columbia, SC 29210
Phone: 803-772-8282
Fax: 803-772-0087
Cincinnati/Dayton, OH 8241 Cornell Road
Suite 210
Cincinnati, OH 45249
Phone: 513-561-2305
Fax: 513-561-2881
Detroit, MI 400 W. Maple Road
Suite 100
Birmingham, MI 48009
Phone: 248-540-0040
Fax: 248-540-8239
Indianapolis, IN 4981 North Franklin Road
Indianapolis, IN 46226
Phone: 317-546-4720
Fax: 317-546-1407
Louisville, KY 13000 Equity Place
Suite 105
Louisville, KY 40223-3976
Phone: 502-452-1543
Fax: 502-451-3657
Caribbean Cayman Business Park #A5, P.O. Box 751
Grand Cayman, Cayman islands
Camana Bay, KY KY1-9006
Phone: 844-952-7304
Houston, TX 9225 Katy Freeway
Suite 206
Houston, TX 77024
Phone: 713-973-0212
Fax: 713-973-2028
San Antonio, TX 909 NE Loop 410
Suite 636
San Antonio, TX 78209
Phone: 210-446-4444
Puerto Rico 508 Asuncion St.
Puerto Nuevo Development
San Juan, PR 00920
Phone: 844-952-7304