Notable Assignments

The Nature Conservancy

In conjunction with The Nature Conservancy, KIRMA and others, Nick Captain recently completed an appraisal for the first conservation easement in the Asia Pacific Region, which protects the last Ka Forest in the world, on the island of Kosrae, Federated States of Micronesia.

U.S. Department of State

The U.S. State Department selected Mr. Captain’s firm to complete real estate research and valuation work in the Federated States of Micronesia, the Republic of Palau, Fiji Islands and Papua New Guinea for future embassy site acquisition and development purposes.

Nuclear Claims Tribunal

The Nuclear Claims Tribunal of the Republic of the Marshall Islands selected Mr. Captain’s firm to estimate a loss in use value for three atolls that were contaminated as a result of the United States nuclear weapons testing program in the 1950s. Our scope of services on this assignment included valuation, consultation and expert witness testimony. The Tribunal subsequently selected The Captain Company to analyze several additional atolls.

Federal Excess Lands

The General Services Administration selected Mr. Captain’s firm to complete federally mandated appraisal work regarding United States Public Law 103-339 identified federal excess lands proposed for transfer to the Government of Guam. This and a prior related assignment included the valuation of 19 properties containing a land area of approximately 3,070 acres.

Republic of Palau

Mr. Captain’s firm was selected by Palau Public Land Authority to complete an appraisal of Palau public land located on the islands of Babeldaob, Peleliu and Angaur. The properties include a total land area of 115.7 square miles. This major study was commissioned by the government to negotiate ground leases, acquisition/disposition prices and related matters. Mr. Captain has completed similar work for the Koror State Public Lands Authority including the islands of Koror, Malakal and Arakabesang.

Guam International Airport Authority (GIAA)

Mr. Captain’s firm was selected in 1998 by GIAA of the Guam Government as their exclusive real estate appraiser and consultant through the year 2001. We were selected again in 2001 and 2007 to complete work through 2012. Our assignments include completing valuation and market rent studies for nearly 100 properties located at the Guam International Air Terminal and Tiyan (the former Naval Air Station Agana military base) including aircraft hangars, maintenance facilities and various other military and airport related facilities.

Federal Home Loan Bank of Seattle (FHLBS)

Mr. Captain’s firm was recently selected by FHLBS to complete a consulting assignment regarding the residential real estate market on Guam including 50 properties for internal decision making purposes.

Guam Market Overview

The Captain Company was periodically retained by the Bank of Hawaii to complete detailed consulting reports including an overview of Guam’s commercial real estate market. We have also completed supplemental consulting reports including an overview of the residential real estate and foreclosure markets on Guam.

Arthur Andersen LLP

In 1999 (pre-Enron), Mr. Captain’s firm was selected by Arthur Andersen LLP to complete a detailed consulting report including an analysis of the industrial market on Guam. The consulting assignment was used to support the client’s base closure related scope of services to the U.S. Navy.

Feasibility Study

We were selected by Guam Economic Development and Commerce Authority (GEDCA) to complete a Final Market and Feasibility Study for the Development of an Industrial Park at Polaris Point in Piti, Island of Guam. We have completed less detailed feasibility studies for other clients including da Vinci Advisors.

Debt Portfolio Analyses

We provided consulting services to Citigroup Tokyo and Hong Kong offices regarding the analysis of over 100 properties secured by a portfolio of debt for potential acquisition-related decision making purposes. We have also analyzed debt portfolios for Goldman Sachs, the Lone Star group and others.

Cocos Island

Completed detailed analysis of leased fee and leasehold interests Cocos Island resort, a privately owned island south of Guam for both disposition and acquisition-related decision making purposes. The island was previously owned by the Rothschild family, Japan Airlines and Larry Hillblom.

Housing Studies

Mr. Captain was selected by Guam Housing and Urban Renewal Authority to complete a major Housing Market Study for southern Guam. Our firm was also selected by GHURA to complete a HUD-required Analysis of Impediments to Fair Housing for the Island of Guam. We further provide GHURA with specialized statistics on a quarterly basis.

Guam Real Property Tax Roll

Mr. Captain served as Chief Appraiser (Cowell & Co., Inc., Honolulu, Hawaii) on the most recent Government of Guam triennial real property tax roll assignment. This mass appraisal included the valuation of all privately owned real estate on Guam including approximately 50,000 properties with an aggregate value of nearly $10 billion.

CNMI Experience

Major properties appraised or analyzed by Mr. Captain in the CNMI include the Hafadai Beach Hotel, Marianas Resort, Vestcor Village, Aqua Resort, Aquarius Beach Tower, and various other properties in Saipan, Rota and Tinian.

Federated States of Micronesia (FSM)

Mr. Captain was selected by the Bank of the Federated States of Micronesia to appraise its new headquarters in Kolonia, Pohnpei State, FSM. We have completed various other assignments in the FSM including research work for the U.S. Department of State.

American and Western Samoa

Mr. Captain was selected by the Development Bank of American Samoa to appraise the Rainmaker Hotel in Pago Pago for internal decision-making purposes. We have completed various other assignments in America Samoa as well as a litigation-related land value study involving property on the island of Upolu, Western Samoa (now known as the Independent State of Samoa).

Hawaii Experience

Major properties appraised or analyzed by Mr. Captain in Hawaii include the Kahala Mall, Hawaiian Regent Hotel, Kapalua Bay Hotel, Grand Wailea Resort & Spa, Nauru Tower, Colony Surf, Polynesian Cultural Center and many others.