Senior Managing Director Patrick C. Kerr, MAI, SRA, FRICS, has been providing valuation and consulting services since the mid-1970s. He has prepared valuations and market studies on a wide variety of proposed, partially completed, renovated and existing structures. These properties have included shopping centers, apartment complexes, industrial facilities, office buildings, office parks, mixed-use space, hotels and land.
Mr. Kerr has performed 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 he has been a consultant to the U.S. General Services Administration, Internal Revenue Service, Department of Housing and Urban Development, U.S. Army Corps of Engineers and United States Postal Service.
Mr. Kerr has also served as portfolio manager for numerous appraisal portfolios for estate, lending and government purposes. He has worked with the GSA to manage an account of fair annual rent appraisals throughout the U.S. In addition to his consulting work, Mr. Kerr is approved to work on projects for the Virginia Department of Transportation.
Mr. Kerr joined Newmark in 2017, when the firm acquired several affiliate offices of Integra Realty Resources. At the time of the acquisition, he was serving as a senior managing director in IRR’s Washington, DC, office. Prior to IRR, Mr. Kerr founded and was president of Legg Mason Appraisal Group and Legg Mason Realty Group from 1983 to 1990.
- Board member, Integra Realty Resources, Inc., 1999 - 2001 and 2005 - 2015
- 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
Mr. Kerr is an MAI and SRA designated member of the Appraisal Institute as well as a former local chapter president and former chair of several national committees. He is also a fellow of the Royal Institute of Chartered Surveyors (FRICS) and a certified real estate appraiser in the District of Columbia, Commonwealth of Virginia and states of Delaware, Maryland and West Virginia.
Additionally, Mr. Kerr 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.
Mr. Kerr 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.
Mr. Kerr 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 State University (now West Texas A&M). 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, Mr. Kerr is certified by the Appraisal Institute’s voluntary program of continuing education for its designated members.