Professional Qualifications of Peter F. Korpacz, MAI,CRE, FRICS

Peter F. Korpacz, MAI, CRE, FRICS (founder and president of Korpacz Realty Advisors, Inc.) has extensive experience in real estate appraisal, litigation support, and counseling. He is experienced in cap rate studies; valuation methodology studies; appraisal reviews; valuations of numerous property types, including regional malls, hotels, big-box retail, corporate headquarters, and data centers; and methodology studies for valuations in distressed markets, hotels, underperforming regional malls, big-box retail, and chain drug store properties.

Mr. Korpacz is the original publisher of the quarterly Korpacz Real Estate Investor Survey®.  He was a principal researcher and advisor for the annual Emerging Trends in Real Estate® from the 2001 U.S. issue through the 2008 U.S. issue.

He is the author of numerous articles; contributor to numerous real estate books, including the 8th and 9th Editions of The Appraisal of Real Estate and the 1st and 2nd Editions of The Dictionary of Real Estate Appraisers were both published by the American Institute of Real Estate Appraisers. He was author and co-author of several articles published in The Appraisal Journal.  One article – “Changing Emphasis in Appraisal Techniques: The Transition to Discounted Cash Flow” – was cited to be one of nine articles over the first 75-year (1932-2007) history of The Appraisal Journal that had a “meaningful influence on the readership.”

As Founder and President of Korpacz Realty Advisors, Inc., Peter F. Korpacz participates in every client engagement.  His credentials, qualifications, and experience are summarized  below.

BUSINESS EXPERIENCE

  • Korpacz Realty Advisors, Inc. – Founder & President
  • Weiser Realty Advisors, LLC – Executive Managing Director
  • PricewaterhouseCoopers LLP – Director, Global Strategic Real Estate Research Group
  • Peter F. Korpacz & Associates, Inc. – Founder & President
  • Korpacz & Weitzman, Inc. – Principal
  • James D. Landauer & Associates, Inc. – Vice President, Chief Appraiser
  • Joseph J. Blake & Associates, Inc. – Senior Project Supervisor

Licenses

  • Certified as a General Real Estate Appraiser in 16 states and the District of Columbia
  • Temporary permits acquired in other states, as required

Expert Witness Testimony

Qualified in various state and Federal courts in matters involving bankruptcy proceedings, foreclosures, eminent domain, assessment appeals, class actions involving real estate matters, and other real estate disputes.

Arbitration/Mediation

Served as appraiser, appraiser-arbitrator, or arbitrator in real estate disputes, including the court-appointed sole arbitrator in a real estate tax assessment dispute on a regional mall in Texas and the neutral arbitrator in a Lake Mead, Nevada possessory interest case

Mediator on two separate regional mall assessment cases between public REIT owners and the assessors

Professional Designations/Affiliations

  • American Institute of Real Estate Appraisers/Appraisal Institute (MAI)
  • The Counselors of Real Estate (CRE)
  • Royal Institution of Chartered Surveyors (FRICS)
  • International Association of Assessing Officers – Associate Member
  • International Council of Shopping Centers – Associate Company Member
  • The Real Estate Board of New York, Inc.
  • American Real Estate Society

Publications and Articles

  • Interviewer for Emerging Trends in Real Estate® 2010, 2011, 2012, 2013, and 2014 editions published jointly by ULI – Urban Land Institute and PricewaterhouseCoopers, LLP
  • Senior Advisor, Emerging Trends in Real Estate® Asia-Pacific 2007 published jointly by ULI – Urban Land Institute and PricewaterhouseCoopers, LLP

Editorial Board

  • Emerging Trends in Real Estate® Europe, annual forecast 2004, 2005, 2006, and 2007 editions
  • Emerging Trends in Real Estate®, the real estate industry’s longest-running annual forecast. 2000, 2001, 2002, 2003, 2004, 2005, 2006, and 2007 editions 

Editor-in-Chief

  • Korpacz Real Estate Investor Survey®, published quarterly by Peter F. Korpacz & Associates, Inc. 1988 – 07/1999 and by PricewaterhouseCoopers LLP. 07/1999 – 09/2007
  • Real Estate Value Cycles, a semiannual publication of real estate cycle information on the position of office, warehouse, retail, apartment, and hotel sectors in the 58 major U.S. markets published by PricewaterhouseCoopers LLP. 12/1999 – 09/2003
  • The Appraisal Journal, published by the American Institute of Real Estate Appraisers. 1985, 1986, and 1987
  • Contributing Editor, Real Estate Capital Market Report, quarterly column, “Equity Real Estate.” 1992 – 1997

Publisher

Korpacz Real Estate Investor Survey®, quarterly publication on considerations and cash flow assumptions used by a cross section of major institutional equity real estate market participants to analyze real estate investment opportunities throughout the Unite States. From 1988 – 7/1999

Authored

  • “Finding the Elusive Cap Rate in the Coronavirus Pandemic Environment,” Fair & Equitable, May/June 2020 Issue
  • “Appraising Retail Properties,” Shopping Centers and Other Retail Properties: Their Investment, Development, Financing and Management, John Wiley & Sons, Inc., 1996
  • “Changing Times Call for Revamped Valuation Methods,” National Real Estate Investor, 10/1992

Co-authored

  • “Hotel Property Tax Issues,” Journal of Property Tax Assessment & Administration, Volume 20, Issue  1-2023
  • “Myth vs Reality: ‘Going Concern’ Hotel Valuations,” Fair + Equitable magazine, January 2022 issue
  • “Fee Simple: Where Are We Now?,” Fair & Equitable, 9/2021 Issue
  • “Setting the Record Straight on Fee Simple,” IAAO position paper, Journal of Property Tax Assessment & Administration, Volume 16, Issue 2 (2019)
  • “Commercial Big-Box Retail: A Guide to Market-Based Valuation,” IAAO position paper, Journal of Property Tax Assessment & Administration, Volume 15, Issue 1 (2018)
  • “Understanding Intangible Assets and Real Estate: A Guide for Real Property Valuation Professionals,” Journal of Property Tax Assessment & Administration, Volume 14, Issue 1 (2017)
  • “Institutional-Grade Real Estate,” The Appraisal Journal, 10/1994
  • “Market Value – The Elusive Standards,” The Appraisal Journal, 7/1992
  • “Real Estate Appraisal,” Real Estate Development Manual, Warren, Gorham & Lamont, Inc., 1990
  • “Back to Basics” Specified Real Property Rights,” The Appraisal Journal, 10/1987
  • “Market Value – Contemporary Applications,” The Appraisal Journal, 7/1985
  • The Dictionary of Real Estate Appraisal, 1st Edition, American Institute of Real Estate Appraisers, 1984
  • “Market Value – A Contemporary Perspective,” The Appraisal Journal, 7/1985
  • “Changing Emphasis in Appraisal Techniques: The Transition to Discounted Cash Flow,” The Appraisal Journal, 1/1983

Contributor

  • Viewpoint 1993: Real Estate Value Trends, Valuation Network, Inc., 1993
  • Viewpoint 1992: Real Estate Value Trends, Valuation Network, Inc., 1992
  • The Dictionary of Real Estate Appraisal, 2nd Edition, American Institute of Real Estate Appraisers, 1989
  • The Appraisal of Real Estate, 9th Edition, American Institute of Real Estate Appraisers, 1987
  • The Dictionary of Real Estate Appraisal, 1st Edition, American Institute of Real Estate Appraisers, 1984
  • The Appraisal of Real Estate, 8th Edition, American Institute of Real Estate Appraisers, 1983

Presentations

Mr. Korpacz has presented or participated on panels in various courses, conferences, seminars, and webinars, for the following organizations.

  • American Bar Association (ABA)
  • American Institute of Certified Public Accountants (AICPA)
  • American Property Tax Counsel (APTC)
  • American Society of Appraisers (local chapter meetings)
  • Appraisal Institute (national and local chapter conferences and meetings)
  • Assessors Association of Pennsylvania
  • Association of Foreign Investors in Real Estate
  • Association of Municipal Assessors of New Jersey
  • Ballard Spahr (law firm)
  • Baruch College
  • California Assessors Association
  • City of Alexandria, Arlington County, and Fairfax County Assessors (joint meeting)
  • Colorado Association of Tax Appraisers (CATA)
  • The Counselors of Real Estate (CRE)
  • Greenberg Traurig (law firm)
  • International Association of Assessing Officers (IAAO) [national, regional, and state chapter conferences)
  • IAAO Legal Seminars
  • Institute for Professional in Taxation (IPT) [Property Tax Symposium and national conference)
  • Kellogg School of Management, Northwestern University
  • Maryland Association of Assessing Officers
  • Mays Business School, Texas A&M University
  • Mortgage Bankers Association (national and local chapters)
  • National Association of Property Tax Attorneys
  • National Association of Real Estate Companies
  • National Conference of State Tax Judges
  • National Property Tax Attorneys (NPTA)
  • National Property Tax Counsel
  • National Council of Real Estate Investment Fiduciaries (NCREIF)
  • New Hampshire Association of Assessing Officers
  • New Hampshire Municipal Association (NHMA)
  • New Jersey Institute for Continuing Legal Education
  • New Jersey League of Municipalities
  • New York University
  • Nixon Peabody (law firm)
  • North Carolina Assessor’s Special Meeting
  • North Marq Capital
  • PPM
  • Pullman & Comley (law firm)
  • realqauantum
  • Royal Institute of Chartered Surveyors (RICS)
  • Society of Certified Appraisers
  • Jeffrey E. Smith Institute of Real Estate, University of Missouri-Columbia
  • State of Florida, Department of Revenue
  • Texas Association of Appraisal Districts (TAAD)
  • ULI – The Urban Land Institute (national and local chapter conferences)
  • University of Colorado, CU Real Estate Council
  • University of Connecticut, School of Busi8ness
  • University of Wisconsin-Madison
  • Virginia Association of Assessing Officers (VAAO)

Professional Awards

  • Recipient of the Harry Galkin Award for contributions during the past years that have been so worthwhile as to demand recognition by IAAO, August 2020
  • Recipient of the James A. Howze, CAE, Distinguished Research and Development Award for the IAAO Special Committee on Big-Box Valuation, presented September 2018
  • Presidential Citation in recognition of outstanding service and dedication to the IAAO, presented September 2017
  • Recipient of the Bernard L. Barnard Outstanding Technical Essay Award for the IAAO Special Committee on Intangibles for “Understanding Intangible Assets and Real Estate: A Guide for Real Property Valuation Professionals” from the IAAO, presented September 2017
  • Recipient of the Practitioner-Scholar Award for contributions to the body of real estate knowledge that are highly regarded by real estate academics, and that have been adopted and used by practitioners from The American Real Estate Society, presented April 2015
  • Presidential Citation in recognition of outstanding service and dedication to the IAAO, presented September 2011
  • Co-author of article cited as one of nine articles out of more than 4,000 articles published in The Appraisal Journal in its first 75 years (1932-2007) that had a “meaningful influence on the readership. The article, “Changing Emphasis in Appraisal Techniques: The Transition to Discounted Cash Flow,” was published by the Appraisal Institute in the January 1983 issue of The Appraisal Journal.
  • The Richard D. Simmons Scholastic Achievement Award in recognition of the extraordinary contributions to the letter and spirit of the appraisal community throughout the United States and Canada, 2002. The Massachusetts Board of Real Estate Appraisers
  • Louise Lee and Y. T. Lum Award in recognition of distinguished contribution in the furtherance of the high ideals of the profession of real estate appraising and practices, 1994, presented by Appraisal Institute
  • George L. Schm­utz Award for spe­cial con­tri­bu­tion to the real es­tate ap­prai­sal in­dus­try, presented by the American Institute of Real Estate Appraisers, 1984
  • Charles B. Shattuck Award for outstanding contributions to appraisal education, presented by the American Institute of Real Estate Appraisers, 1984