ME189 Mastering Excel: Essential Best Practices for Appraisers Part 3

J. Fernando Sosa is a Managing Director in the Energy & Infrastructure Practice of Marshall & Stevens Incorporated. He is co-leader of its Chicago E&I region and oversees the execution of
valuation consulting services to the firm’s public and privately held clients.

Mr. Sosa specializes in valuation and cost estimates of tangible assets and integrated projects/facilities both domestic and international. Independent valuation consulting and opinions
are provided for buy/sell consideration, mergers, acquisitions, divestitures, and financings, financial reporting, tax reporting, bankruptcy/restructuring, feasibility, and matters of dispute
including litigation support. He is fluent in Spanish and has performed appraisals for clients throughout the United States and for multinational clients in England, Spain, México, Panamá,
Dominican Republic, Chile, El Salvador, Colombia, and Puerto Rico.

Mr. Sosa is responsible for the valuation of residential, commercial and industrial, community,distributed generation, and utility scale solar electric generation projects and portfolios, wind
electric generation projects, stand-alone energy storage, microgrids, and renewable natural gas projects. He works with our Financial Valuation Practice on financial reporting analyses. He leads
the valuation of facilities to qualify for repowering (“80/20 test”). Tax reporting assignments are most commonly provided for compliance with Internal Revenue Code Sections 861, 382, and 704(c), cost segregation (MACRS) and personal property tax. Financial reporting assignment including purchase price allocations (ASC 805), impairment testing (ASC 350 and 360), and fresh start accounting (ASC 852). Mr. Sosa has served clients in a variety of industries including aviation, construction, energy generation, entertainment, food processing, hospitality, manufacturing, medical imaging, plastic injection molding, retail, semiconductor, steel reprocessing, transportation, waste collection and recycle, water/wastewater treatment plants, and other infrastructure projects.

Employment: Prior to rejoining Marshall & Stevens, Mr. Sosa served in senior roles at Cushman & Wakefield, CohnReznick, and American Appraisal Associates. He started his valuation career in American Appraisal’s Public Accounting Service Group. He was employed by Marshall & Stevens from 2002-2005.

Education and Professional Designation: Bachelor of Science in Finance from Southeastern
Louisiana University.
An Accredited Senior Appraiser (ASA) in Machinery & Technical Specialties with the American
Society of Appraisers, he currently serves as Chair of Membership for the International American
Society of Appraisers and has served in leadership roles for the Chicago chapter of the American
Society of Appraisers including chapter President in 2022-2023.

Nick Fifer, Associate Appraiser

Industry Education

•  American Society of Appraisers (ASA) Principles of Valuation courses {MTS 201-204), 
2020-2021
• USPAP 15-Hour in 2025
• Consistent attendance of webinars, seminars, and conferences provided by ASA, NAA, U.S. SBA, 
Corporate Jet Investor, McKissock, and the Appraisal Institute, among others

Appraisal Experience to Date

• 250+ appraisals conducted
• $2 billion+ in total valuations made
• 100+ appraisals completed as Lead or Assistant Appraiser in the past 12 months

Employment History

•  Capitale Analytics, Indianapolis, IN - Machinery and Equipment Appraiser, 2018-Present
• Wayne Township Assessor's Office, Fort Wayne, IN - Real Estate Appraisal Deputy, 
2017-2018
•  AAA Auction Service, New Haven, IN - Appraisal Assistant and General Manager, 2016-2017; Staff 
Auctioneer and Real Estate Manager, 2014; Appraisal Assistant, 2013

Asset Disposition Experience

• Contract employment for several auction companies, 2014-Present
• Full-time employment by auction/appraisal company, 2013-2017
• Participation in approx. 400 career auctions, including management of approx. 100 
auctions
• Participation in liquidation of approx. $10 million of commercial assets, real estate, and pers. 
property

Formal Education

• B.S., Purdue University, 2008