Independent valuation and advisory services
Independent valuation of real property, operating businesses and the interests in them.
The firm serves banks and their appraisal management companies, accountants and auditors, investors and fund managers, attorneys, owners and public agencies. Its practices run from commercial real estate and right-of-way to going-concern and business valuation, with a concentration in properties that are real estate and a business at once, such as hotels, marinas, golf clubs, medical facilities and manufacturing plants.
An independent valuation practice since 2018
Designations
MAI, SRA, AI-GRS, CCIM, ASA, MRICS, LEED AP and R/W-AC, held among the firm’s professionals and described on the designations page.
Standards
USPAP · FIRREA · RICS Valuation – Global Standards (Red Book) · Uniform Appraisal Standards for Federal Land Acquisitions · ASC 820
Offices
McLean, Virginia; Ponte Vedra, Florida; and Cleveland, Ohio.
Engagements by the decision they support
Lenders and appraisal management companies
Appraisals and appraisal reviews of commercial, complex and special-purpose collateral, written to USPAP and the Interagency Guidelines.
Fair value conclusions for financial reporting, including purchase price allocations and impairment testing, documented for audit review.
Independent opinions and expert testimony where value is in dispute, in partnership, estate, property tax and eminent domain matters.
Fair value of portfolio holdings and equity interests at each reporting date, including continuation vehicles and NAV lending.
Engagements by property type
Feasibility and going-concern valuation, with the brand and the management agreement reflected in the value.
Slips, upland, fuel and service operations valued as one going concern, with the real property allocated for the lender.
Resort, private, community and municipal courses, with membership structures reflected in the income.
Manufacturing and special-purpose
Plants and special-purpose facilities appraised as going concerns, with value allocated among the real estate, the equipment and the intangible assets.
Fair market value rent studies, practice valuations and facility analysis, documented for compliance review.
Right-of-way and eminent domain
Acquisition appraisals, easement valuation, review and testimony for public projects, led by John Nolan, MAI, from Cleveland.
The work completed for one engagement is carried into the next.
When a lender has engaged the firm to appraise the collateral and an auditor later requires a fair value conclusion, or a dispute among the partners arises, the model built for the first engagement is extended for the second, with the effective date updated and the two conclusions reconciled line by line.
The four values below describe one hypothetical manufacturer on one date, and each is correct for the reader who relies on it.
Real property is $14.0 million, the market value a lender’s appraisal states on its own. Going concern is $18.0 million, adding the equipment and the intangible assets. Business enterprise is $19.0 million, which adds $1.0 million of working capital. Equity is $8.0 million after $11.0 million of debt. A 25% interest is $2.0 million pro rata and $1.4 million after a 30% combined discount.
An engagement runs on a written scope, one model and an MAI’s review.
The firm confirms scope, fee and delivery date in an engagement letter before work begins, and measures the delivery date from the date of engagement. The letter also carries the firm’s statement that it holds no interest in the property or the transaction.
Calculations are performed in the firm’s valuation model, while the selection and weighting of the evidence remain the appraiser’s, so that a reviewer can examine the arithmetic and the judgment independently.
Before delivery an AI-assisted check compares the narrative with the model and the exhibits, and an MAI, Greggie Pascual or John Nolan, reviews every report against the engagement letter and the standards it is written to. The appraiser who signed the report remains available to the reviewer afterward.
Valor, the platform the firm is building, will hold every component of an enterprise in one model so that each value concluded reconciles with the others, and will carry each comparable with its source and its date.
The standards and breadth of a large practice, with the attention to each client that a small firm gives.
GP Valuation was founded in 2018. Its president led valuation practices at a top-five accounting firm and at international valuation and advisory firms before founding it, and the firm is built to carry the standards, the review discipline and the breadth of those practices into a firm small enough for its principals to handle each engagement themselves. The designations its professionals hold, and what each is awarded for, are described on the designations page.
Greggie Pascual
MAI, SRA, AI-GRS, CCIM, ASA, MRICS
Founder and President
Mr. Pascual founded the firm in 2018 and leads its going-concern, hospitality and business valuation work: hotels and resorts, marinas, golf and club properties, manufacturing plants and complex mixed-use developments, valued for lenders, auditors, investors and attorneys. Before founding the firm he led valuation practices at a top-five accounting firm and at international valuation and advisory firms, where his work included fair value measurement for financial reporting, purchase price allocations and impairment testing, and assignments in Asia, the Caribbean, Europe and Latin America.
He holds the MAI, SRA, AI-GRS, CCIM, ASA and MRICS designations, prepares valuations under the RICS Red Book for international clients, served as 2024 President of the Appraisal Institute’s Washington, DC Metro Chapter, and holds a Bachelor of Science in Computer Science and Finance from the University of Maryland Global Campus.
John Nolan
MAI, LEED AP, R/W-AC
Managing Director
Mr. Nolan leads the firm’s right-of-way and eminent domain practice from Cleveland, Ohio, and directs valuation and consulting engagements across the Mid-Atlantic and the Midwest, including portfolio valuation, feasibility analysis and property tax appeals. In more than 25 years of practice he has completed assignments in 41 states and two Canadian provinces for institutional investors, commercial banks, REITs, law firms and public agencies, and before joining the firm he built and led regional valuation teams at three valuation platforms.
He holds the MAI designation, the LEED AP accreditation and the Right of Way Appraisal Certification, serves on the board of the Appraisal Institute’s Washington, DC Metro Chapter, and holds a Bachelor of Science in Finance from the University of Toledo.
Clients and reviewers on our work
“After completing my reviews, I have to say, they were fantastic! Fully supported, well written, and thoroughly edited before finalization with virtually no typos or save-as errors—everything I look for as a reviewer, you guys nailed.”
Wiley Hayes
MidLantic Financial
“I had a very good experience working with you and GP Valuation… I definitely believe it was the collaborative tone that your team had as well as how well you and your team communicated.”
Steve C. Lin, Founder
Himalayan Capital Advisors
“Although the timing came during a global pandemic, the end product is exemplary and exceeded our expectations.”
Mark Rodak
Rich Mountain Holdings, LLC
Engagements begin with a conversation about the property, the intended use and the date the report is needed.
The firm responds within one business day and arranges a call from there.
DC Metro: 1640 Boro Place, 4th Floor, McLean, VA 22102
Northeast Florida: 425 Town Plaza Ave, Ponte Vedra, FL 32081
Northeast Ohio: 1409 W. 10th Street, Cleveland, OH 44113