FOR IMMEDIATE RELEASE
Integra Realty Resources Strengthens Healthcare & Senior Housing Practice:
Joins Forces with Industry Pioneer—Tellatin, Inc.
Nation’s First Healthcare and Senior Housing Valuation Firm Joins with 6 Offices and 16 Experts, including Industry Authority, Jim Tellatin, Author of Appraisal Institute’s Textbook on Valuing this Asset Class
DENVER, CO — (March 21, 2018) — Integra Realty Resources (IRR), North America’s largest independent commercial real estate valuation and consulting firm, today announced a major expansion to its Healthcare & Senior Housing practice. IRR has formed a strategic partnership with industry pioneering firm, Tellatin, Inc. Missouri-based Tellatin is a highly accomplished and recognized appraisal, market study, and advisory firm dedicated to serving the Healthcare and Senior Housing sector.
Effective immediately, all 16 employees from Tellatin will form IRR’s six new dedicated Healthcare & Senior Housing appraisal offices located in St. Louis, MO; Kansas City, MO; Boston, MA; Portland, OR; Nashville, TN; and Santa Fe, New Mexico. The new IRR offices will operate under the management of IRR’s newest shareholders: James K. Tellatin, MAI; Victor D. Cremeens, MAI; Bradley J. Schopp, MAI; and Mark Tracy.
The addition of Tellatin expands IRR’s Healthcare & Senior Housing practice, which offers national coverage through its regional valuation specialists and is supported by more than 50 local IRR offices nationwide. IRR’s Healthcare & Senior Housing practice conducts appraisals, market studies, and consulting assignments on a wide variety of healthcare and senior housing properties, including hospitals, skilled nursing facilities, assisted living facilities, independent living facilities and Continuing Care Retirement Communities (CCRCs). Over the past 24 months, IRR has completed 1,845 healthcare and senior housing assignments on behalf of developers, owner-operators, construction lenders, HUD lenders, FNMA lenders, conduit lenders and REITS, totaling more than $200 billion in asset value.
“Integra worked hard to identify the right partner to help us expand our successful Healthcare & Senior Housing practice to service increased demand in the sector, fueled by changing demographics and national healthcare policy and practice,” said Anthony M. Graziano, MAI, CRE, Chairman of IRR. “Partnering with Tellatin brings together the foremost industry experts, adding to our existing core expertise in this sector. Combining our resources, including IRR’s expansive national platform of local, on-the-ground experts and proprietary data and technology, allows us to offer best-in-class products and client service and solidify our market leadership in this complex sector.”
Since 1984, Tellatin, Inc. has specialized in appraisals, feasibility studies, market analyses, management overviews, Medicare and Medicaid reimbursement analyses, litigation support, and due-diligence consulting for healthcare and senior housing properties. They have completed assignments on more than 6,000 nursing facilities, 3,300 assisted-living and independent living facilities, and more than 200 hospitals located in every U.S. state, totaling more than 75 billion dollars in asset value. The firm’s diverse and experienced team boasts more than 250 years of combined senior housing and health care experience.
Founder Jim Tellatin, who brings more than 40 years of appraisal and consulting experience, has devoted most of his career to healthcare and senior housing valuation services. In addition to his appraisal and litigation work, he has co-developed, and co-owned more than $100 million is of nursing and senior housing assets; this is unique among appraisers in this sector. He is recognized for authoring The Appraisal of Nursing Facilities, a textbook published by the Appraisal Institute, assisting HUD in the development of the LEAN healthcare appraisal and market study guidelines, and chair of a state certificate of need program.
“Partnering with Integra Realty Resources offers us instant scale, geographically as well as operationally,” added Jim Tellatin. “While we have handled many large healthcare property portfolios and highly complex valuations over the decades, having the resources of professionals from a team of 50 offices, coupled with our depth in this niche area positions IRR as the premier firm for appraisals, market studies and related consulting services for healthcare and senior housing in the nation. We look forward to offering our clients the most comprehensive reports available in the market today, backed by data from IRR’s proprietary technology platform and rounded out with insights and forecasts from our combined team of senior thought leaders and local, on-the-ground experts.”
This expansion aligns with IRR’s aggressive growth strategy and comes on the heels of four new office openings, including: IRR-Philadelphia, PA, IRR-Northern New Jersey, IRR-Washington, DC, and IRR-Fort Worth. In less than 18 months, IRR has added a dozen new offices nationwide and launched IRR-Hotels, a hotels specialty practice group.
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