Situs, the premier global provider of strategic business solutions for the finance and real estate industries, announced that its wholly owned subsidiary, Situs RERC, has hired Andrew Sabatini and Tom Johnson as managing directors and Frank Yanofsky as director in the Valuation Management Group. All three will be based in the New York City area, the company announced in a release.
The Valuation Management Group will now be co-headed by Brian Velky and Sabatini, both reporting to Ken Riggs, Situs RERC’s president. As co-heads, Velky and Sabatini will work together to continue to grow the business, following on the heels of wins with California Public Employees’ Retirement System (CalPERS) and the Oregon State Treasury on behalf of the Oregon Public Employees’ Retirement Fund, and continue to service clients such as the California State Teachers’ Retirement System (CalSTRS).
In total, Situs RERC provides nearly $200 billion in quarterly fair value reporting, the release said.
“The expansion of the valuation management group is a testament to the great work done by Brian Velky and his team over the years, building deep client relationships and bringing in substantial new business. We are grateful to Brian for his leadership in helping make possible the hiring of Andrew, Frank and Tom,” Riggs said.
Sabatini comes to Situs RERC from National Valuation Consultants (NVC) where he led the real estate advisory services division, with valuation management responsibilities for more than $50 billion in 700-900 assets on a quarterly basis. Yanofsky was a director for NVC’s Real Estate Advisory Services, and prior to that he worked in the Real Estate Advisory and Alternatives Audit Groups at PricewaterhouseCoopers (PwC). Johnson served as a managing director for NVC’s Real Estate Advisor Services division.
“Situs RERC is one of the most trusted names in real estate advisory and a company I’ve long admired. I’m very excited to be able to join the team and help the Valuation Management Group grow for many years to come,” Sabatini said.
“Andrew, Tom and Frank have been known to Situs RERC for many years as some of the top professionals in the valuation industry, and we are delighted they are joining Situs RERC to work with leadership to build on the legacy of success and help drive further growth,” Situs President Nick Rudenstine said.