IRR Opens New Caribbean Office in Cayman Islands

Office will be second international office for IRR

GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--IRR, North America’s largest independent commercial real estate valuation and consulting firm, announced today that it has opened a new international office in the Cayman Islands to offer both residential and commercial real estate valuation and consulting services throughout the Caribbean. The new office will be located at 90-E Godfrey Nixon Way, Suite 5, in George Town, Grand Cayman, Cayman Islands.

“The Caribbean is a strategic choice for an IRR international office”

The office will be the firm’s second international office, the first being IRR-Mexico, and will operate as a full-service valuation and real estate consulting firm. IRR-Caribbean specializes in valuation, quantity surveying (construction consulting), and development consulting for resort properties, residential resort properties, golf courses, marinas, hotels, and commercial properties. Services offered include valuation for lending purposes, financial reporting, litigation support, eminent domain consulting, market/feasibility studies, construction project management and insurance appraisals.

“The Caribbean is a strategic choice for an IRR international office,” says Jeffrey Rogers, FRICS, JD, MBA, President & COO of IRR. “There are many varied territories and governments adjacent to each other, making relationships with international clients convenient. We are also experiencing an influx of our U.S. lenders and clients starting to develop and lend on projects in the Caribbean Islands. This office is a natural progression.”

The office will be headed by Managing Director James V. Andrews, MAI, FRICS, who has been involved in the appraisal field since 1987 and has experience in the Cayman Islands since 1997. Prior to this new office, James was a Partner at Andrews Key Ltd., a Caribbean-regional valuation and consulting firm. He has also been working with the Charlotte IRR office since late 2009 on projects involving Caribbean property. He is a graduate of Belmont University.

The office will include three other real estate professionals, including Director Paul J. Key, FRICS. Paul has over 20 years of experience providing valuation services in the Cayman Islands. Prior to arriving in Cayman, he was employed by the British Government’s Valuation Service, where he rose through the ranks to Deputy District Valuer, responsible for a professional staff of 15 employees. He was then recruited to come to the Cayman Islands as the Government’s Director of Lands and Survey. Following this post he was a partner with Mr. Andrews in the firm Andrews Key Ltd.

“We are excited to join the IRR fold,” says Andrews. “Joining Integra brings tremendous resources to our operation including a wealth of knowledge from the industry’s top individuals, and access to a wide array of contacts across the real estate realm. Our primary territory includes the Cayman Islands, The Bahamas, The U.S. Virgin Islands; and we also regularly perform services in other English-speaking territories in the region such as the Turks & Caicos Islands, the British Virgin Islands, Anguilla, St. Kitts and Nevis, St. Vincent and the Grenadines. Our office plans to expand to have additional staff permanently located in the Virgin Islands and The Bahamas in the near future.”

For additional information on IRR or the new office, please visit www.irr.com or contact Leigh Sperun at [e-mail] or [phone].

ABOUT INTEGRA REALTY RESOURCES, INC. (IRR)

With corporate offices in New York City, IRR is an independent real estate valuation and consulting firm that offers local expertise on a national scale with 63 offices and 900 credentialed consultants and staff located across the United States, Mexico and the Caribbean. Founded in 1999, the Firm specializes in real estate appraisals, feasibility studies, market studies, expert testimony, and related property consulting services. Many of the nation's largest and most prestigious financial institutions, developers, corporations, law firms, and government agencies are among its clients. Because of the high quality of its professionals, integrated systems, and state-of-the-art technology IRR is capable of handling a wide array of assignments and producing high quality, meaningful results on a timely basis. Please call Integra for your next assignment or visit us at www.IRR.com.