Class Valuation, a provider of real estate asset valuation and appraisal management solutions, has acquired Landmark Network, which specializes in real estate valuation solutions for the reverse mortgage segment.
Terms of the deal were not disclosed.
Michael Detwiler, CEO of Class Valuation – which recently changed its name from Class Appraisal – says the acquisition is in keeping with the firm’s innovation strategy.
“With an impressive list of clients, including a meaningful percentage of the industry’s top reverse mortgage lenders, Landmark has done a fantastic job delivering quality, service, and reverse valuation products backed by innovative technology,” Detwiler says in a release. “That’s the kind of specialization and expertise we’re seeking as we continue to expand our footprint.”
Detwiler adds that Landmark Network’s strong focus on customer service “fits in line with Class Valuation’s commitment to service and technology that is shaping the future of the valuation space.”
Erik Richard, former CEO of Van Nuys, California-based Landmark Network, is now chief operating officer of Class Valuation’s Western region.
“We were very impressed with the strategic plan that Class Valuation presented and look forward to growing together – both organically and through acquisition,” says Richard. “I’m pleased that the team at Class understands the intrinsic value of customer relationships and service.”
Class Valuation was assisted by Berkery Noyes in the successful completion of the transaction.