Joel Leitner -

Managing Director, BBG

Joel is a Managing Director at Butler Burgher Group (BBG). He has over 27 years of experience in real estate
valuation, investment analysis, and consultation. Mr. Leitner’s experience includes a diversified background in the
valuation of real estate on a national basis for a wide range of applications including market value appraisals,
property portfolio consulting and management, investment advisory service, valuations and consulting studies for
securitization-equity based and mortgage-backed transactions, purchase price allocations, liquidation sale
valuations, condemnation, tax reduction, estates, and expert witness testimony for litigation. These activities have
been conducted on behalf of foreign and domestic investment firms including major industrial corporations, leading
foreign and domestic financial institutions, individual investors, leading law firms, and government agencies.
Mr. Leitner’s areas of specialization include preparation of market value appraisals for all types of real estate with a
full range of valuation objectives; investment analysis via computer based lease to lease models and discounted
cash flow projections before and after taxes; Ad valorem property appraisals; litigation support; consultation in the
negotiations of equity investment acquisitions; market and economic feasibility studies for existing property or
proposed development projects; and purchase price allocations.
Mr. Leitner’s experience in real estate valuation and consulting has encompassed an extremely diverse range of
real estate. This experience includes researching and analyzing various real estate markets within the Tristate
area along with testifying as an expert witness in several local and federal courts. Mr. Leitner has recently been
appointed to the panel of neutral arbitrators by the American Arbitration Association. Appraisal assignments
include industrial facilities, shopping centers and malls, office and medical centers, hotel and motel facilities, and
apartment complexes.

PROFESSIONAL AFFILIATIONS
MAI designation
CRE designation
Fellow Member of Royal Institute of Chartered Surveyors (FRICS)
New York University, Adjunct Professor, Masters of Real Estate
Executive Committee of the Board of Directors of the New York Chapter
2003 Person of the Year – Appraisal Institute
2008 President of the Metropolitan New York Chapter
Member, Real Estate Board of New York – Real Estate Appraisal Committee
Member, Counselors of Real Estate
Member, Mortgage Bankers Association of New York

General Certified Appraiser:
State of New York (License # 46-3011)
State of New Jersey (License # RG01545)
State of Connecticut (License # RCG0001050)
State of Pennsylvania (License # GA003488)
State of Maryland (License # 28730)

EDUCATION
Master Degree in Real Estate Investment, Finance and Valuation, New York University