COVID-19: Asset Value Guidance and Appraisal Engagement

COVID-19: Asset Value Guidance and Appraisal Engagement

Announcement

Date March 25, 2020

To our valued clients and partners,
 

We hope you and your families are healthy and safe and will remain so during this difficult time. Gordon Brothers understands that now, more than ever, we are part of a community that needs to come together and help each other through this crisis. Yesterday we released a video and a letter from our CEO, Ken Frieze. We urge you to view these messages and see the intense commitment we have made to support our Gordon Brothers community – our employees, their families, our clients, and our extended communities. We all have an obligation to reach beyond ourselves, and we are striving to do that every day.
The swiftness and severity of COVID-19 has caused tremendous disruption and uncertainty across the entire economic, financial, and social landscape. We understand the challenges our clients face in evaluating, underwriting, and managing risk at times like these. We want to assure you that our colleagues across the globe are fully engaged and ready to support our clients in the same ways we always have – by placing your needs, opportunities, and challenges at the center of everything we do, every day.
 

Here are some of the ways that we are rising to take on this challenge:

  • Safety and readiness: Like you, we have taken steps to safeguard the health and safety of our employees and their families while ensuring that we are fully available to meet the needs of our clients. Our comprehensive remote platform is in place, and all of Gordon Brothers’ valuation professionals are available to advise you locally and globally.
  • Value guidance: We are available at any time by phone or email to provide guidance and values across a wide spectrum of industries. Gordon Brothers’ industry experts can advise on value implications based on up-to-date economic trends and proprietary market and pricing data.
  • Appraisal engagement: As a trusted valuation partner, we are available to discuss new appraisal engagements and collateral re-appraisals. Given current social distancing and travel mandates, an on-site visit may not be required to provide you with an accurate assessment of value. We are prepared to issue appraisals on a desktop basis or where appropriate by leveraging video-conferencing with on-site due diligence to follow, when possible and if requested or required.
  • Advice and perspective: We are here to provide advice and support for additional services including property tax assessment and brand and business valuations to explore and expand on financing and liquidity options for your clients.
     

Please do not hesitate to reach out to one of us or your regional business contact with questions or to seek perspective in understanding the impact of these critical issues on asset values. As always, our team is ready to help in any way we can, whenever you need us.
 

These are incredibly difficult and stressful times – the unthinkable is happening across the globe. Our heart goes out to all those who have been impacted by this event. Because of this, we stand more ready than ever to help each other, our community, and our valued clients through these challenging times.
 

Together, we will endure and overcome.