Senior Managing Director Patrick C. Kerr, MAI, SRA, has been providing valuation and consulting services since the mid-1970s. He has prepared valuations and market studies on proposed, partially completed, renovated and existing structures. He has also performed appraisals on a wide variety of properties, including shopping centers, apartment complexes, industrial facilities, office buildings, office parks, mixed-use space, hotels and land.
Patrick has made appraisals for condemnation purposes, estates, mortgage financing, equity participation and due diligence. One of his most important clients is the federal government: He has completed appraisals of several government facilities, including BRAC (Base Realignment and Closure) facilities, and has been a consultant to the U.S. General Services Administration, Internal Revenue Service, Department of Housing and Urban Development and U.S. Army Corps of Engineers.
Patrick has also served as portfolio manager for numerous appraisal portfolios for estate, lending and government purposes. He has worked with Signet Partners/GSA to manage an account of fair annual rent appraisals throughout the U.S. He has also managed a national account overseeing appraisals being done for USPS. In addition to his consulting work, Patrick is approved to work on projects for, but not limited to, the, Maryland Department of Transportation, Council of the District of Columbia, and Office of the Deputy Mayor for Planning and Economic Development.
Patrick joined Newmark Valuation & Advisory in 2017, when the firm acquired several affiliates of Integra Realty Resources. At the time of the acquisition, he had been working at IRR for nearly 20 years as a senior managing director. Prior to IRR, Patrick founded and was president of Legg Mason Appraisal Group and Legg Mason Realty Group from 1983 to 1990.
Additionally, Patrick is qualified as an expert appraiser in U.S. bankruptcy courts in Maryland (Baltimore and Greenbelt), Virginia (Alexandria), Baltimore City Circuit Court, Maryland State Tax Court and Wicomico County Court.
- Board member, Integra Realty Resources, Inc., 1999 – 2001 and two additional terms of 18 years
- Member, Urban Land Institute (ULI), 1998 – 2001; co-author (with IRR-Baltimore), Baltimore metro area overview
- Board member, 1988 and 1989, 1992 – 1994; chairman, appraisal committee, 1991 – 1992, Greater Baltimore Board of Realtors
- Past local chapter president, past chair on several national committees, Appraisal Institute
- Patrick has been a frequent lecturer and guest speaker for many appraisal and civic organizations. In 1989, he was a guest speaker at the annual meeting of the Maryland Financial Services Association. He also spoke at that year’s Department of Defense Housing Policy Conference at the Pentagon.
Licenses and Designations
- Designated member, Appraisal Institute (MAI)
- Designated member, Appraisal Institute (SRA)
- Certified General Real Estate Appraiser, District of Columbia, Commonwealth of Virginia and the states of Delaware, Maryland and West Virginia
Patrick earned a Master of Business Administration degree in finance from the University of Baltimore and a Bachelor of Business Administration degree in accounting from West Texas A&M (formerly West Texas) State University. He also has successfully completed numerous real estate-related courses and seminars sponsored by the Appraisal Institute and accredited universities as well as HUD Multifamily Accelerated Processing (MAP) Third Party Training. Currently, Patrick is certified by the Appraisal Institute’s voluntary program of continuing education for its designated members.