Mr. Passero has been engaged in the valuation and consulting profession since 1991. He has valued a wide range of tangible and intangible healthcare and senior housing assets in connection with financing, litigation support, acquisition/divestiture and fair rental settings as well as for tax appeal, IRS market-value determination and depreciation for accounting purposes.
His experience includes the estimation of fair market, investment, leasehold and leased fee values for various senior housing and healthcare enterprises including: skilled nursing facilities, sub-acute nursing facilities, assisted living residences, congregate care centers, continuing care retirement communities, senior apartments, multi-family and affordable housing, long term acute care facilities, life care communities, rehabilitation centers, acute care hospitals, surgical centers, behavioral care and substance abuse facilities, HMOs, home healthcare companies and physician practices.
Mr. Passero has provided pre-acquisition/pre-development consultation for internal decision making for several publicly traded healthcare companies. In addition, Mr. Passero has valued healthcare facilities in over 35 states. Mr. Passero provides consulting services to various lenders, providers, investors and legal counsel. Given his knowledge and extensive experience with the Medicare and Medicaid reimbursement programs, he provides assistance to commercial banks, REMICs, REITs and investment banks with underwriting of healthcare and senior housing assets.
Additional experience includes appraisal and consulting services for transactions under the FHA 232 and 223(f) programs. In this regard, Mr. Passero has conducted appraisals for new construction and substantial rehabilitation loans processed through the HUD offices in Baltimore, Boston, Chicago, Denver, Hartford, Jacksonville, Kansas City, Los Angeles, Newark, New York, Philadelphia, Richmond and San Francisco. Mr. Passero has also developed work-out and turn-around studies for financially distressed healthcare operations, sensitivity models to analyze various operating scenarios as well as market studies for development and retrofit projects. Several major financial service and banking organizations, including Freddie Mac and Fannie Mae, have engaged him to develop lending, origination and underwriting criteria.