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VALUATION AND APPRAISAL SERVICES
Services
Main Line valuation staff developed the methodology approved by FRA in valuing rail rights-of-way. Main Line has valued more than 50,000 miles of rail property and numerous yard facilities, including more than 150 shortline properties in 42 states, Canada, and Mexico. A list of projects is attached. These assignments have developed going concern values and values for continued railroad use, as well as values for other use (net liquidation) and replacement cost new less depreciation values. These studies have been used by buyers, sellers, lenders, and regulatory agencies. Among the larger assignments are numerous projects for Dakota Minnesota & Eastern, Montreal Maine & Atlantic, RailAmerica, and Texas Mexican Railway. Main Line has been retained to conduct condition assessments by numerous shortline clients and Departments of Transportation, as well as by several lending institutions. These assessments have lead to changes in operations and in the development of rehabilitation programs.
Main Line has appraised and valued numerous rail corridors being acquired for rail transit purposes, as well as real estate for shops, yards, stations, and parking. The assignments have been for both buyer and seller, and have been used by UMTA in identifying funding requirements. Among the properties have been commuter rail lines in Boston, New York, Philadelphia, Wilmington, Northern Indiana, and Southern California, as well as light rail transit lines in Baltimore, St. Louis, and Kansas City. The Metropolitan Transportation Authority used a Main Line appraisal to acquire a line for a commuter rail extension, while Capital Area Transit (Harrisburg) is also using a Main Line study to acquire a transit corridor. Track materials and real estate are included in these valuation assignments. In addition, real estate for shops, yards, stations, and parking have been assessed. Rails-to-trails and rails-with-trails corridor valuations have also been completed.
In addition to rights-of-way and track materials, Main Line has also been employed to value rail equipment. These appraisals of rail cars, locomotives, maintenance equipment, and highway vehicles have been completed for equipment owners and lending institutions. Appraisals or condition assessments have been done for Massachusetts Central, Housatonic Railroad, Emons Transportation, GATX Capital, GATX Tank Car, TexMex, RailAmerica, RailTex, Octoraro Railway, and Gettysburg Railroad, as well as for several banks and other lending institutions.
More than 150 valuation projects have been completed by MLRM. For a listing of some of these projects, click here: Valuation Projects
