PRINCIPALS

President: Susanne M. Curran

Susanne Curran has over 24 years of work experience in real estate, all of which contributes to a deep and varied knowledge of factors influencing property value, land development potential, economic and market feasibility, growth trends, income and risk, and contributing factors to the Highest and Best Use of real property.

While working with private and public entities including banks, real estate market analysts, land planning consultants and federal, county and state government, Susanne Curran analyzed existing and proposed income properties, and land, from various perspectives. She is experienced in Argus and other commercial lease analysis software. Recent ARGUS assignments include a 180,000 SF three-phase Class A office campus in Warrington (Bucks County) PA; a drug-store anchored retail strip center in Ocean Grove, NJ; and a 90,000 SF multi-tenant office/flex property in Monmouth County, NJ.

Much of her experience is unique within the commercial appraisal community.An expert in demographic and economic projections, Curran used Multiple Regression techniques to develop age-cohort based population projections and employment projections on a county-wide and municipal basis for one of the fastest growing counties in Pennsylvania. These projections were prepared in the early 1980s, long before most appraisers discovered the technique's applicability to mass appraisal and other valuation approaches.

She worked for REIS.com, aka REIS Reports in New York City, by researching and writing real estate market analysis studies for sophisticated participants in the nationwide investment community. REIS is one of the more established, well-respected real estate market analysis firms in the country. Her work involved traveling, identifying and meeting with knowledgeable people, and researching trends and ahead-of-the-curve transactions in developing markets such as Dallas/Ft. Worth, Orlando, Nashville, Kansas City, Tempe and others. She wrote market analysis studies for the retail, industrial, office and residential sectors in Memphis, St. Louis, Dallas/Ft. Worth, Orlando, Nashville, Kansas City, Tempe and Philadelphia. She also prepared specialized "Target Market" supply/demand studies for specific proposed shopping centers in varied locations.

In addition, she has evaluated proposed residential and commercial development projects from a physical planning as well as an economic feasibility point of view. Her approach to valuation goes beyond just "plugging in the numbers"- extending to the whys and hows necessary for reasonable assumptions based on a reliable, independent view of market conditions, project timing and absorption, and market value at various stages.

Curran served as one of the first municipal Planning Consultants for Readington Township (Whitehouse Station), Hunterdon County, NJ. During this period, significant development projects including the Stanton Ridge Golf Course and residential community, Cushetunk Lake residential project, and new Merck Pharmaceutical headquarters, among many others, were before the township Planning Board and its consulting staff. Today, Readington is known as an attractive and well-planned community because of the commitment of its governing boards to a solid, long-term planning effort. Through her professional planning experience, Curran is familiar with zoning innovations such as Transfer of Development Rights, NJ Affordable Housing, density bonuses, protection of environmental/critical areas, and "Performance Zoning", developed by former colleagues at the Bucks County Planning Commission.

She worked for the Resolution Trust Corporation for over five years, in both the loan recovery/workout department and appraisal/review. This involved asset recovery on $400 billion worth of non-performing real estate loans nationwide. This experience comprised an outstanding education in poor real estate lending, uninformed project design and non-existent supply/demand analysis on proposed projects.

As an appraiser, she has been trained exclusively in the commercial field working with complex properties, with the exception of being qualified for appraising residential subdivisions for developers' bank financing. Early in her career, she was fortunate to work with some of the most respected commercial appraisers in the northern New Jersey area, including principals in major banks and in the Integra Realty Resources organization. Her current clients include some of the largest financial organizations in the United States.

Susanne Curran is proud to be a Designated Member in the Appraisal Institute, (MAI) widely considered the leading professional appraisal organization in the United States. She is one of very few commercial appraisers to also hold the AICP- American Institute of Certified Planners designation (national) and the PP- Professional Planner license (New Jersey). She earned a Master's Degree in City Planning and Land Development and has had further economic training at New York University (credit training course) in addition to appraisal coursework exclusively through the Appraisal Institute, Chicago, IL.

She is a native of Voorhees, New Jersey and graduated from Eastern Regional High School.

Senior Associate: Deborah Henasey

Ms. Henasey has an extensive real estate background centered upon commercial brokerage. A graduate of Drexel University, she is based in Yardley, PA.

Associate: Stanley Sobchak

Mr. Sobchak is an appraisal trainee who entered the appraisal field after a long career with the Rohm and Haas Corporation. He is an investor and owner of multi-family properties, and is based in Mercer County, NJ.

Associate: Louis Principato Jr.

Mr. Principato is an experienced appraiser and researcher. He is based in Camden County, NJ.

Associate: Jill Handschumacher

Ms. Handschumacher provides capable office support for all areas of the company.

Review and Editing: David C. Curran, MAI, ULI

 While Mr. Curran does not prepare any appraisal reports, he serves in a review and editing capacity for the firm on an as-needed basis.