About Us

Multifamily Appraisal Specialists (MAS) was formed in 2005 by Victor K. Thomas and is a full service, real estate appraisal and consulting firm based in Denton, TX. The MAS team consists of several State Certified General Real Estate appraisers, state licensed Appraiser Trainees, and support staff members. Our appraisers have a combined 80+ years of appraisal experience. Although accomplished in appraising various property types such as office buildings, retail centers, and industrial facilities, our team focuses on multifamily assets in Texas and the southwest U.S. region.

Our organization is comprised of highly trained appraisers with exceptional real estate appraisal experience with expertise in Freddie Mac, Fannie Mae, CMBS, Life Company, Bank and HUD 223f compliant appraisals. Mr. Victor Thomas, the firm’s founder and President, has performed more than 3,000 multifamily appraisals for various large national lenders. With roughly 300 multifamily appraisals in Texas prepared each year, we are many times referred to as experts in the analysis of multifamily assets in the growing markets of Dallas/Fort Worth, Houston, Austin and San Antonio.

MAS specializes in preparing high quality appraisals on various types of existing and proposed multifamily properties, which include the following:

• conventional garden-style apartments
• mid- and high-rise projects
• properties with office and/or retail components
• conversions from retail or office buildings
• distressed properties
• student housing (valued by-the-bed)
• properties targeted for value-added/extensive renovations
• large complete-community portfolios 
• subsidized, LIHTC, HAP, HUD 223f, and income-restricted properties

Our emphasis on client communication has given us a clear understanding of the requirements for all types of lenders and owners, which has brought us praise and recognition from several underwriters at both Freddie Mac and Fannie Mae. We were in the top 10 multifamily conventional appraisal providers in the country by volume to Freddie Mac in each of the last five years.

Mr. Victor Thomas brings over 15 years of extensive multifamily appraisal experience in the State of Texas. In addition to performing appraisals, Mr. Thomas functions as our compliance reviewer, reviewing the appraisals performed by the firm to ensure compliance with USPAP, the Standards of Appraisal Institute, and the specific underwriting criteria of each client. Mr. Thomas serves as our primary client contact to ensure clients are receiving the most professional experience in a timely manner.

Mr. John Clark and Mr. Scott Bates are both principal and vital members to our team, that both bring 20+ years each of extensive multifamily appraisal experience in the State of Texas. In addition to performing appraisals, Mr. Clark and Mr. Bates also assist in reviewing the appraisals performed by the firm to ensure full compliance with USPAP, the Standards of Appraisal Institute, and the specific underwriting criteria of each client.

Mr. Thomas sponsors three appraiser trainees, Mr. Kyle Thomas, Mrs. Ashlee Solis and Ms. Jessica Labosco. Both Mr. Kyle Thomas and Mrs. Ashlee Solis have both been engaged in the real estate industry for nearly or over 10 years. Since entering real estate, they have both completed over six years of appraiser trainee experience and during this time has contributed to hundreds of appraisals that cover a wide variety of types, classes, ages and locations, of which all have included a multifamily component. Ms. Jessica Labosco has been engaged in the real estate industry for over 3 years, and has completed over two years of appraiser trainee experience.

MAS also has several staff support members that assist in assuring our product has a high quality component, is accurate and shows the most recent data available. Staff support members complete various tasks which are then verified by other staff support members, the appraiser trainees, and the State Certified General Real Estate appraisers. We have been commended for being detail oriented, which is achieved by our unique process in completing appraisals.

Many financial institutions have relied upon our principal appraisers’ expertise and ethical standards to provide valid and accurate appraisal reports. Our team’s strong analytical skills and combined experience in valuing multifamily assets has enabled us to provide clients with extremely high quality, well supported, and thoroughly documented appraisal reports, delivered in a timely manner. Attention to detail and to the ever-changing aspects of the real estate market enhances MAS’ ability to provide the quality of service our clients both require and deserve. We regularly survey owners, brokers and other real estate professionals to determine and document the changes in the industry and specifically to determine capitalization rate ranges and multifamily trends.

The practice of real estate property valuation requires competency and strict adherence to established standards and professional practices. Multifamily Appraisal Specialists takes pride in maintaining a position of total objectivity and integrity in meeting the needs of our clients by providing prompt service, quality reports, professional attitudes, and open communication. For more information, please contact Mr. Thomas by e-mail at Victor@MASValues.com or by calling (972) 539-9100.