Having spent 10 years collectively inside a Big 4 business valuation practice the principals of AMC refined the art of real estate valuations in support of the business valuation process. Since 1990 the principals of AMC have participated in over 350 real estate valuations in support of the business valuation process for a host of Tax and Financial Advisory Firms. The bulk of this work was in the area of allocation of purchase price (FASB 141) with domestic and international coverage.

Through the use of elegant financial models the AMC team has consistently provided valuations that are highly credible (via multiple valuation methods) and very cost effective.

Our understanding of the subtle, yet significant, difference between market value and going-concern value can account for millions of dollars in allocation. Furthermore, working with and understanding the challenges the Business Valuation team encounters allows us to accurately reflect the value impact of sub-optimal business units on specific real estate assets.

The following is a list of engagements AMC participated in:

AMF Bowling Worldwide – Fresh Start Accounting, teamed with Big 4 accounting firm to provide real estate valuations for 258 owned bowling alleys with allocation between underlying land, site improvements and buildings.

Knowledge Learning Corporation – FASB 141, valuation for allocation of 124-owned day care center sites throughout the continental United States. Methodology included the Income Approach and Cost Approach.

Shaw’s Supermarkets – FASB 141, valuation of 218 owned and leased grocery stores located throughout the northeast utilizing the Income Approach and Cost Approach. This included a large number of leasehold interest valuations and capitalized leasehold valuations.

Union Station – Cost Segregation Study, teamed with a Big 4 accounting firm to provide the underlying asset value of the St. Louis Union Station, a mixed use retail/hospitality property comprising of 180,000 square feet of retail space an a 538 room Hyatt Hotel.

General Growth Properties – Cost Segregation Study, teamed with a Big 4 accounting firm to provide underlying asset values for the 2003 acquisitions of 10 malls around the United States.

Solo Sweetheat – FASB 141, valued the real estate assets comprising 13 industrial manufacturing facilities located throughout the United States.

Gate Gourmet – FASB 141, domestic and international real estate valuation of 28 food preparation facility at major international airports in the United States and Europe.

Contact The Austin McGuire Company today to discuss how we can assist you with all your corporate valuation needs.

Knowledge Learning Corporation (KLC) acquired approximately 500 day care centers located throughout the United States from Aramark Educational Resources. This portfolio included both owned and leased properties.


To provide a high quality appraisal report utilizing two methods of value and provide for allocations between land, building and site improvements on a property-by-property basis.


Utilizing the leased portfolio as the basis of determining market rental rates each owned property was valued using an Income Approach model. The overall value was then allocated via a Cost Approach with the resulting land valuations from the model cross-checked with actual market transactions for 20 percent of the portfolio.

The result was a highly accurate (top down and bottom up) and cost effective valuation model sited by the valuation audit review committee as "…by far one of the most elegant and clean valuation models we have seen".

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