STATEMENT OF QUALIFICATIONS FOR DAVID S. ARFFA
Summary
David S. Arffa has 38 years of real estate appraisal experience from independent real estate appraiser to Assistant Chief Appraiser of a major financial institution. He is licensed by the State of Arizona and the State of California as a Certified General Appraiser.
Professional Licenses/Affiliations
Associate member and candidate for the MAI designation, Appraisal Institue.
Certified general real estate appraiser by the State of Arizona, #30939, expires September 30, 2008.
Certified general real estate appraiser by the State of California, #AG025455, expires July 30, 2009.
Real Estate Appraisal Experience
Arffa Appraisal, LLC, Tucson, Arizona and Glendora, California
June 1976 – Present (Except employment as noted)
President
Provides appraisals, reviews, due diligence studies, market and feasibility analyses and other real estate advisory services. Opened the Arizona office in 1999.
Property types valued include apartment, industrial, office, commercial, mobile home parks, hotel, golf, land, residential development and single family residential. Valuations performed for lending institutions, attorneys, accountants, corporations, investors and advisors.
Advisory services include due diligence studies of real estate portfolios and loan portfolios, feasibility and market studies and property tax. Advisory services performed for lending institutions, corporations, real estate investors and advisors.
Arthur Anderson, LLP, Los Angeles, California
December 1986 – August 1997
Principal, Real Estate Services and Valuation Services Division
Leader of real estate appraisal services in the Los Angeles office and Western region, with national and international valuation and advisory experience. .
Managed, reviewed and performed appraisals, due diligence, allocation studies, market and feasibility analyses, primarily in Southern California, Arizona, Nevada and Hawaii. International valuation experience in several European countries and Guam.
Property types included office, commercial, industrial, residential income, residential development, golf and hotel properties. Performed appraisals and studies for lending institutions, attorneys, investors and corporations.
In addition to being the leader of real estate appraisal services, developed the real estate portfolio services, property tax and real estate consulting services. Developed and taught real estate appraisal classes for clients and internally for appraisers and accountants.
Cushman & Wakefield of California, Inc., Los Angeles, California
January 1983 – December 1983
Assistant Vice President and Manager
Managed the Los Angeles appraisal division of this national full service real estate firm. Managed, reviewed and performed appraisals in Southern California, Arizona and Hawaii for lending, litigation support and corporate planning purposes. Property types included office, commercial, industrial, land, residential income, residential development, golf and hotel properties.
RECON Services, Los Angeles, California
June 1974 – May 1976
Real Estate Consultant and Appraiser
Performed appraisals and representation for property tax engagements on major properties in California and Arizona on behalf of corporate and private peroperty owners. Property types included office, commercial, industrial, residential income and land.
Security Pacific National Bank, Los Angeles, California
June 1970 – May 1974
Assistant Vice President and Assistant Chief Appraiser
Appraiser, Senior Appraiser and subsequently Assistant Vice President and Assistant Chief Appraiser for major bank. Appraised and reviewed office, commercial, industrial, apartment, land and single family residences for loan purposes.
Testimony
Appeared as an expert witness in Superior Court in California as well as ad valorem tax expert in California and Arizona.
Education
Bachelor of Arts in Economics, University of Nebraska, Lincoln, Nebraska.
Complete set of Appraisal Institute Courses including Capitalization, Urban Case Studies and Investment Analysis. Continuing education including a minimum of twenty-eight hours every two years.
