Cushman & Wakefield Adds Valuation and Advisory Arm to Automobile Dealership Specialty Practice

14 Jul, 2010, New York

Cushman & Wakefield today announced that Stephen Kay, MAI, a Managing Director at the firm, has been named National Practice Leader for the Automobile Dealership Group. Mr. Kay's promotion is part of Cushman & Wakefield's growth strategy to enhance Valuation & Advisory Services' coverage of specialty property types.

"For the past 13 years, Mr. Kay has managed the appraisal process for our firm's largest dealership clients, and has overseen the valuation of more than 3,000 dealerships in North America," said John D. Busi, Executive Vice President, Global Co-head of Valuation. "With an in-depth knowledge of the rapidly changing market for automobile dealerships, Mr. Kay offers our clients unsurpassed, real time information that is critical in making informed lending and investment decisions."

Mr. Kay has been active in the appraisal of real estate since 1991. Appraisal experience includes the valuation of income-producing real estate on a national basis. The types of properties appraised include office buildings, shopping centers, apartment complexes, industrial buildings, automotive dealerships, department stores, vacant land, proposed income-producing properties, manufactured housing communities and various special purpose properties. Additional real estate experience includes underwriting for a pension fund advisor, investment brokerage and due diligence reporting relating to the placement of mortgage-backed securities.

Mr. Kay holds a Bachelor of Arts Degree in Urban Planning from the University of Illinois. He is a Member of the Appraisal Institute, and a Certified General Real Estate Appraiser in the States of Illinois, Wisconsin, Minnesota, Michigan, Indiana and Missouri.

With a dedicated team of experienced Valuation and Advisory professionals, Cushman and Wakefield is well versed in the automobile dealership property type and values approximately 800 dealership properties annually throughout North America.

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