Data Center Valuation and Advisory Services

Background

Patrick Craig is a Principal, Executive Managing Director, and National Practice Leader for the Real Estate Valuation Practice at Marshall & Stevens Incorporated.

Mr. Craig has over 30 years of experience in the real estate business involving valuation of single assets or portfolios, serving clients in the financial services, banking, REIT, insurance, legal, accounting, audit, corporate, development, pension and asset management sectors. His experience includes valuation and consulting for proposed and existing real estate projects and real estate portfolios including office, industrial, apartment, retail, hotel, mixed-use, self-storage, and community facility uses. He has also worked on matters of dispute including serving as a valuation expert in litigation.

Mr. Craig entered the real estate business in 1986. Prior to joining Marshall & Stevens, he led the Northeast valuation practice for Colliers International, while running the firm’s Portfolio Valuation Group and Business Innovation Committee and serving on the firm’s Global Leadership Team. Prior to Colliers International, he spent almost two decades with Cushman & Wakefield serving in numerous leadership roles including co-leader of its Portfolio Valuation Group, as Chairman of the firm’s Business Innovation Committee, and as a member of the Global Business Initiatives Council. Prior to Cushman & Wakefield, he held real estate appraisal positions at Dorman & Wilson and European American Bank.

He has served on the Board of Directors for the NY Chapter of the Appraisal Institute. He is an affiliate member of ADISA, a member of the Real Estate Board of New York, NCREIF, and the International Council of Shopping Centers. He is licensed as a Certified General Real Estate Appraiser in: New York, New Jersey, Connecticut, Pennsylvania, Georgia, Florida, Michigan, Virginia, Iowa and Illinois.

Professional Highlights

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Background

J. Fernando Sosa is a Managing Director in the Energy & Infrastructure Practice of Marshall & Stevens Incorporated. He is co-leader of its Chicago E&I region and oversees the execution of valuation consulting services to the firm’s public and privately held clients.

Mr. Sosa specializes in valuation and cost estimates of tangible assets and integrated projects/facilities both domestic and international. Independent valuation consulting and opinions are provided for buy/sell consideration, mergers, acquisitions, divestitures, and financings, financial reporting, tax reporting, bankruptcy/restructuring, feasibility, and matters of dispute including litigation support. He is fluent in Spanish and has performed appraisals for clients throughout the United States and for multinational clients in England, Spain, México, Panamá, Dominican Republic, Chile, El Salvador, Colombia, and Puerto Rico.

Mr. Sosa is responsible for the valuation of residential, commercial and industrial, community, distributed generation, and utility scale solar electric generation projects and portfolios, wind electric generation projects, stand-alone energy storage, microgrids, and renewable natural gas projects. He works with our Financial Valuation Practice on financial reporting analyses. He leads the valuation of facilities to qualify for repowering (“80/20 test”).

Tax reporting assignments are most commonly provided for compliance with Internal Revenue Code Sections 861, 382, and 704(c), cost segregation (MACRS) and personal property tax. Financial reporting assignment including purchase price allocations (ASC 805), impairment testing (ASC 350 and 360), and fresh start accounting (ASC 852).

Mr. Sosa has served clients in a variety of industries including aviation, construction, energy generation, entertainment, food processing, hospitality, manufacturing, medical imaging, plastic injection molding, retail, semiconductor, steel reprocessing, transportation, waste collection and recycle, water/wastewater treatment plants, and other infrastructure projects.

Prior to rejoining Marshall & Stevens, Mr. Sosa served in senior roles at Cushman & Wakefield, CohnReznick, and American Appraisal Associates. He started his valuation career in American Appraisal’s Public Accounting Service Group. He was employed by Marshall & Stevens from 2002-2005.

An Accredited Senior Appraiser (ASA) in Machinery & Technical Specialties with the American Society of Appraisers, Mr. Sosa currently serves as Chair of Membership for the International American Society of Appraisers and has served in leadership roles for the Chicago chapter of the American Society of Appraisers including chapter President in 2022-2023. He is a Member of the Royal Institution of Charted Surveyors (MRICS).

Professional Highlights

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Background

Martin Hanan is a Managing Director with 40 years of business valuation, transaction and business economics consulting experience. He was the founder and President for ValueScope, and joined Marshall & Stevens in 2024, with their acquisition of ValueScope. He works primarily in transaction advisory and financial valuation.

Having created two industry-leading firms, Mr. Hanan has managed hundreds of engagements for other professional advisors, and government and corporate clients in a wide array of industries.

Mr. Hanan’s expertise includes the valuation of closely held business interests, financial derivatives, and intellectual property; governance issues including executive compensation; and financial and tax reporting issues including transfer pricing, transactional assistance and methods designed to accelerate corporate cash flow and value.

Mr. Hanan’s strengths include deep insight into econometrics, theory and methodology, business appraisal, and empirical analysis. He is highly analytical, quantitative and creative, and utilizes these skills in assignments ranging from value measurement to value harvesting to expert testimony.

Professional Highlights

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Background

Anthony Festa, ASA, is a Managing Director in the New York Office’s Machinery & Equipment Practice of Marshall & Stevens Incorporated. Mr. Festa’s responsibilities include overseeing the delivery of valuation services to the Firm’s machinery and equipment valuation clients.

Mr. Festa leads asset valuations for buy/sell consideration, financing, insurance, tax reporting, and financial reporting purposes including purchase price allocations (ASC 805), impairment testing (ASC 350 and ASC 360), and Internal Revenue Code Sections 861, 382, and 704(c).  Financing engagements include valuations for leasing and other structure finance transactions and bankruptcy/reorganization including fresh-start accounting.

Mr. Festa has served clients in a wide variety of industries including, but not limited to: automotive, aerospace and defense, broadcast and communications, chemicals, entertainment, financial services, food production, healthcare, hospitality, mining and milling, pharmaceutical, pulp and paper, restaurants, semiconductor, telecommunications, textiles, water and other infrastructure projects.

Specific to the water infrastructure industry, he has performed valuations for several Texas-based investor-owned water and wastewater plants for a transaction, a New Jersey township for a transaction, and a New Hampshire wastewater plant for financing purposes. He is an associate member of the National Association of Water Companies (NAWC) and has spoken at numerous professional conferences on the valuation of water utilities including the NAWC Water Summit in 2019.

He is an Accredited Senior Appraiser (ASA) in Machinery & Technical Specialties with the American Society of Appraisers. He has served in multiple leadership roles for New York City chapter of the American Society of Appraisers including President of the chapter in 2010-2011.

Professional Highlights

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Background

Greg Feldman is a Managing Director with Marshall & Stevens Incorporated and MS Capital. He is responsible for business development and client management.

Mr. Feldman joined Marshall & Stevens in 2010. He works with public and private companies and their trusted advisors to provide valuations of businesses, equity and debt instruments, intangible assets, machinery & equipment, and commercial real estate including cost segregation studies. Analyses are provided for buy/sell consideration, financial reporting, financing and recapitalization, tax planning and reporting, insurance placement and dispute resolution.

Prior to Marshall & Stevens, Mr. Feldman successfully served in business development and operational roles within a diverse group of industries including Big 4 and other international accounting firms, retail, consumer products, and printing.

Mr. Feldman has received extensive training in Sales, Sales Management, Negotiation, Project Management and overall Business Development.

He is active on several boards including Bloomingdale Youth Sports Association and the Tampa Chapter of Association of Corporate Growth (“ACG”) serving as the Membership Committee Chair.

Professional Highlights

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Background

Jonathan Adelson is a Managing Director, Business Development with Marshall & Stevens.

Mr. Adelson joined Marshall & Stevens in 2024. He leads business development efforts with public and private companies, private equity funds, and turnarounds to deliver independent financial opinions with respect to valuation, solvency, capital adequacy and fairness in connection with mergers, acquisitions, divestitures, leveraged buyouts, recapitalizations, financings and financial and tax reporting matters for businesses, equity and debt securities, loans, derivative instruments, structured products, intangible assets, fixed assets real estate and more.

Prior to Marshall & Stevens, Mr. Adelson was a Manager at KPMG and a Managing Director at Alvarez & Marsal. He has served in business development roles for Valuation Research Corporation, Adelson Strategies (a global business development and strategy firm), and Trio Media Ventures. He began his career in public policy.

Mr. Adelson volunteers with multiple organizations.

Professional Highlights

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