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PROFESSIONAL QUALIFICATIONS OF REAL ESTATE APPRAISER TIO S. DIFEDERICO, MAI
I am a life-long resident of Las Vegas. I graduated from the University of Nevada, Las Vegas (UNLV) with a Bachelor of Science in Business Administration as a Finance Major. I obtained a real estate license in 1984 and began appraising real estate in 1986 with Shelli L. Lowe & Associates. In 1999 Shelli L. Lowe & Associates joined several other premier appraisal firms across the country to form a network of appraisal expertise to serve national and international clients; Integra Realty Resources (IRR). This national exposure provided me an opportunity to appraise a full range of properties and to interact with leaders in the appraisal and business communities. I was typically entrusted with the most complex assignments and became qualified by the courts to testify in litigation as an expert in the appraisal of vacant land, residential, apartment, office, retail, industrial and hotel casino properties. In 2009 I formed The DiFederico Group.
I am a Certified General Appraiser in the State of Nevada (Certificate Number A.0000150-CG) and earned the MAI designation from the Appraisal Institute (MAI No. 12567). I have been an appointed member of the Clark County Board of Equalization (BOE) for 25 years, and have served as the President and Vice President for the Las Vegas Chapter of the Appraisal Institute. In 2017 I was selected by the State of Nevada’s Real Estate Division to be a member of their Appraisal Advisory Review Committee (AARC). My function on this committee is to assist the Administrator by reviewing appraisal reports and serving on a panel during disciplinary hearings for actions brought by the State.
I have extensive litigation experience involving condemnation and inverse condemnation cases. This includes total and partial takings, as well as permanent easements (PE's) and temporary construction easements (TCE's). I have also completed numerous assignments involving air rights takings and ground leases. I completed these assignments for both property-owners and government agencies. In addition, I have completed assignments involving partnership disputes, bankruptcies, estate valuations and partial interests.
PROFESSIONAL QUALIFICATIONS OF REAL ESTATE APPRAISER NICHOLAS W. BENNETT, MAI
I was born and raised in Las Vegas and graduated from Bishop Gorman High School. I attended the University of Nevada, Reno and graduated with a Bachelor of Arts degree from the Reynolds School of Journalism with a minor in English.
In November 2005, I joined Integra Realty Resources (IRR) under the guidance of Shelli L. Lowe, MAI and Tio S. DiFederico, MAI. I was trained to appraise a full range of properties with exposure nationwide to leaders in the appraisal and business communities. It was during this time that I earned my commercial appraisal license in the state of Nevada. In 2009, I joined Mr. DiFederico at his own company, The DiFederico Group.
I am a Certified General Appraiser in the State of Nevada (Certificate Number A.0206508-CG) and earned the MAI designation from the Appraisal Institute (MAI No. 483595). In 2011, I joined the Nevada Chapter of the Appraisal Institute's committee to create the Las Vegas Market Symposium and, in 2012, I was named chairman of the committee. This annual event brings together multiple experts in the real estate industry to share their insights regarding the state of the market. The panelists discuss the current and future trends of the Las Vegas real estate markets including office, retail, land, industrial and residential areas. As chairman of this committee over the last decade, I have helped shape this premier yearly educational event for hundreds of attendees from both the appraisal and brokerage communities.
During my tenure with IRR and currently with The DiFederico Group, I have appraised numerous office buildings, apartment complexes, retail developments, taverns, restaurants, convenience stores, gas stations, schools, industrial buildings, health clubs, churches, government facilities, historical properties, cell sites, billboard sites and vacant land.
These include portions of Nellis Air Force Base, Creech Air Force Base, several of the U.S. Department of Veterans Affairs properties and the Federal Courthouses in both Northern and Southern Nevada for the General Services Administration. I appraised architect Antoine Predock's Las Vegas Central Library and Children's Museum. In addition, I have also appraised property on the United States National Register of Historic Places, including the Huntridge Theater in Las Vegas. My experience includes appraising a portion of both the Kern River Pipeline and the Kinder Morgan Pipeline. And, I appraised the first proposed cellular communication towers to be located on Nellis Air Force Base for the General Services Administration. In the course of my work, I have also consulted with clients on expenses for proposed properties, along the Las Vegas Strip area and in downtown Reno. I also worked with the St. Viator Community in site selection and architectural design for the Cristo Rey St. Viator College Preparatory school, which opened in August 2019.
My appraisal work spans the state of Nevada, including in Las Vegas, Reno, Carson City, Pahrump, Laughlin, Mesquite, Sandy Valley, Moapa Valley, Alamo and Mount Charleston. In addition, I have performed appraisal reviews on various property types.
Tio S. DiFederico, MAI, has appraised office buildings, business parks, apartment complexes, shopping malls, taverns, restaurants, night clubs, cell sites, billboard sites, water rights and special use properties. These include the Groom Mine overlooking Area 51, the Las Vegas Motor Speedway, the Henderson Executive Airport and the site of the proposed Ivanpah Airport. Mr. DiFederico has also appraised the Summerlin, Kyle Canyon and Tuscany Master-Planned Communities.
Mr. DiFederico's appraisal experience also includes appraisals of hotel casinos. These include: The Riviera Hotel Casino, The LVH – Las Vegas Hotel & Casino, Horseshoe, Lady Luck, Dukes, Golden Phoenix and the ground leases for the Texas Hotel Casino, Eastside Cannery, Buffalo Bills, Primm Valley and Whiskey Pete’s in Nevada; the Isle of Capri in Louisiana, the Aztar Casino in Missouri and the Twin River in Rhode Island, as well as proposed hotel casinos in Macau and Puerto Rico. While serving on the BOE, Mr. DiFederico has analyzed and valued over a hundred hotel casinos in Clark County.
Mr. DiFederico has been hired by both Clark County and lenders to analyze leasehold and sandwich leasehold positions involving Clark County's ground leases in the area referred to as the Co-operative Management Area (CMA). Mr. DiFederico was also selected by Clark County to help them analyze the value of modifying the CMA restrictions and in 2017 was selected by the State of Nevada’s Real Estate Division to be a member of their Appraisal Advisory Review Committee. His function on that committee was to complete Standard 3 Reviews for reports that are being considered by the State for disciplinary action.
Mr. DiFederico has extensive litigation experience involving fee and partial takings, as well as permanent and temporary construction easements. Mr. DiFederico has also completed numerous assignments involving air rights takings and ground leases. Mr. DiFederico completed these assignments for both property-owners and government agencies. In addition, Mr. DiFederico has completed assignments involving partnership disputes, bankruptcies, estate valuations and partial interests.
QUALIFIED BEFORE COURTS AND ADMINISTRATIVE BODIES:
United States Federal Court
United States Bankruptcy Court – District of Nevada
Clark County District Court
Clark County Board of Equalization
Various Arbitration Courts
PROFESSIONAL DEVELOPMENT PROGRAMS:
Tio S. DiFederico, MAI, has completed the Appraisal Institute’s Litigation Professional Development Program curriculum; passed the exams and is listed on the Appraisal Institute’s Litigation Professional Registry.
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