IRR Expands in NorCal with Launch of New San Francisco, Sacramento Offices

Commercial Appraisal Firm Seevers Jordan Ziegenmeyer Merges with IRR

Pictured from left to right: Lance Jordan, MAI, Senior Managing Director, IRR-Sacramento; Nelson Wong, MAI, Senior Managing Director, IRR-San Francisco; Eric Segal, MAI, Senior Managing Director, IRR-Sacramento; and Kevin Ziegenmeyer, MAI, Senior Managing Director, IRR-San Francisco.

The largest commercial real estate valuation services firm in North America will expand its service lines in Northern California with the launch of two new offices in San Francisco and Sacramento.

Denver-based Integra Realty Resources (IRR) will open IRR-San Francisco and IRR-Sacramento in a strategic partnership with Seevers Jordan Ziegenmeyer (SJZ), a commercial real estate appraisal and consulting firm headquartered in suburban Sacramento. The new offices will provide appraisal and consulting services to commercial banks, private equity lenders, municipalities, public and governmental entities, and private investors, among other clients, as well as offer expert testimony and real estate consulting services.

On November 1, all 20 SJZ employees shifted under the IRR banner to form the new offices under the leadership of new IRR shareholders Lance Jordan, MAI; Kevin Ziegenmeyer, MAI; Eric Segal, MAI; and Nelson Wong, MAI.

Ziegenmeyer and Wong will serve as co-senior managing directors of the IRR-San Francisco office covering Silicon Valley, while Jordan and Segal will oversee the Central Valley region as co-senior managing directors of IRR-Sacramento.

One of the largest private commercial appraisal firms in Northern California, SJZ provides appraisal work throughout California and parts of Nevada, most notably appraising the Bay Meadows redevelopment, a 52-acre site proposed for the construction of 1,121 apartments, 85,000 square feet of retail space and 725,000 square feet of office space, on behalf of the City of San Mateo.

The company also appraised the redevelopment of phase one of the Hunters Point Shipyard for the City of San Francisco, which is being considered for the future development of 1,142 apartments.

Jordan and Ziegenmeyer have served as partners at SJZ since 1997, with Jordan heading up staff development, operations and the lending valuation division, while Ziegenmeyer specializes in the appraisal of large master-planned communities and agricultural properties.

According to Jordan, the SJZ's merger with IRR will allow the firm to realize its long-term goal of expanding into the San Francisco Bay Area market.

Segal and Wong joined the SJZ partnership following the retirement of P. Richard Seevers in 2012. In his time with the firm, Segal has collaborated with Ziegenmeyer to devise a specialized appraisal platform for community facilities districts and assessment districts. He also specializes in the valuation of multifamily properties.

Working alongside Jordan, Wong focuses on staff development and lending valuation assignments. Both Segal and Wong have also provided consulting services as well as expert witness testimony.

"As we continue to expand coast-to-coast, it was important to quickly reestablish our local market presence in Northern California, one of the nation's top real estate investment markets," said Anthony M. Graziano, MAI, CRE, chairman of IRR.

In the last 12 months, IRR has opened offices in Austin, San Antonio, Houston, Dallas/Fort Worth and Puerto Rico, and last month opened a new office in Chicago in a merger with Appraisal Research Counselors.