Commercial & Institutional Valuation

Defensible valuations for the world’s most complex assets.

Four decades of independent, court-ready appraisals for investors, lenders, funds, and attorneys — led by Thomas G. Spears, ASA, MRICS.

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Accredited & Standards-Bound

Certified General Real Estate Appraiser

Accredited Senior Appraiser (ASA) · Chartered Valuation Surveyor (MRICS) · Certified General Real Estate Appraiser · USPAP & IVS compliant · The Appraisal Foundation

Confidence for consequential decisions

When the value drives the decision,
the appraisal has to stand up.

Independent commercial appraisals and reviews for lending, investment, and litigation. Every assignment reviewed and signed by Thomas G. Spears, ASA, MRICS.

Why Global Valuation

Built for the numbers that get challenged

Full independence

No lending, brokerage, or transaction interest — only an opinion of value that holds up on its own merits.

II.

One accountable expert

Every appraisal assignment is reviewed and signed by Thomas G. Spears, ASA, MRICS. One expert accountable for every conclusion.

III.

Court-ready by design

Documented to withstand opposing experts, lenders, and IRS examination. USPAP and ASA compliant. Tax Court ready.

IV.

Global & complex-asset depth

Data centers, solar power plants, battery energy storage (BESS) facilities, resorts, marinas, mines, easements, and special-purpose assets — four decades of complex-asset depth.

Signature Practices

Specialist expertise across complex commercial assets

Conservation Easement

Independent conservation easement review

Defensibility-first valuation and expert-witness review — built on IRS guidelines and prepared to withstand examination.

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Resort & Hospitality

Master-planned resorts valued across phased absorption

Going-concern, real property, and brand untangled — as-is, as-completed, and as-stabilized, built for institutional review.

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Mega-yacht marina and yacht club appraisal

Marina & Yacht Club

Waterfront real estate, operating business, and submerged-land rights

Slip and dry-stack income, fuel and service operations, and riparian rights — reconciled into one defensible conclusion.

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Golf & Country Club

Membership, operations, and land as one enterprise

Initiation and dues structures, F&B, and developable acreage valued as an operating whole.

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Mining & Extraction

Producing operations valued on reserves and regulatory horizon

Reserves, offtake contracts, and permitting risk — where comparable sales cannot explain the number.

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Special-Purpose Assets

When comparable sales don’t exist

Theme parks, processing plants, and one-of-a-kind complexes valued from first principles and built for scrutiny.

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“

An appraisal is only as valuable as its ability to survive the people who will challenge it.

Thomas G. Spears, ASA, MRICS

Founder, President & CEO

Thomas G. Spears

ASA, MRICS

Mr. Spears began his valuation career in 1970 and founded Global Valuation in 1997. An Accredited Senior Appraiser since 1991 and Chartered Valuation Surveyor, he brings independent judgment to complex commercial assets. Every assignment is reviewed and signed by Mr. Spears, with clear accountability from initial scope to final conclusion.

1997Firm established

438Documented assignment records*

*2016–2025 records: 287 appraisals and 151 reviews. A deduplicated record count, not a lifetime total, independently verified completed-project count, or number of unique properties.

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The Engagement

How a valuation comes together

01 — Discovery

Scope & the real question

We define the asset, the value basis, and exactly what the number has to withstand — lender, court, IRS, or partner.

02 — Analysis

First-principles valuation

The asset is valued as what it truly is, documented against USPAP, IVS, and IRS guidelines.

03 — Conclusion

Defensible opinions of value

Accountable opinions of value — as many as the assignment requires — delivered and prepared to hold up under any scrutiny they will face.

Selected Work

Assignments

Four decades of complex engagements across North America, the Caribbean, Central America, and Europe. A selection, presented within the bounds of client confidentiality.

Resort Development