When an asset is too complicated for traditional valuation, that's where we add value.
When a dispute, estate, or IRS matter turns on the value of an unusual asset.
When tax and transaction planning depends on defensible asset values.
When the collateral — or the deal — is more than land and buildings.
These assets combine real estate, equipment, operating businesses, permits, and regulatory risk. We analyze them as they actually operate.
It looks like land. The value is in permits, reserves, entitlements, and scarcity — not the dirt.
The real estate appraisal financed the building and missed the machine that makes the money.
Contamination reads as pure liability. Priced right, remediation is where the upside lives.
Landfills, ports, water, energy — unglamorous assets with scarcity economics and durable demand.
A city hall has one buyer; a sewer system has several. Part 3 of Public Works, Private Capital: public buildings, partnerships and what a city pays when it takes a water system back.
Read →The price is the easy part. Part 2 of Public Works, Private Capital: bonds, grants, consent decrees, permits and contamination follow the pipes out the door, or refuse to.
Read →One sewer system, three defensible values on the same day. Part 1 of Public Works, Private Capital: why an investor earns on rate base rather than price, and how state statutes decide how much of the premium ever reaches it.
Read →Weekly. The assets beyond office, retail, industrial, and multifamily — and the business, legal, and investment questions they raise.
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