Lesher Chee Stadlbauer, Inc. (LCS) is a full service real estate valuation and consulting practice headquartered in Honolulu, Hawaii and serving the Pacific Basin (Hawaii, Micronesia and the South Pacific) since 1970. The LCS Valuation Practice concentrates principally in commercial, industrial, hospitality, residential development (on an entire project basis), and specialty property types. We are also experienced with complex engagements involving partial real estate interests, life estates, leased fee interests and real estate tax credits. Analyses employing financial modeling software (Argus Enterprise) are regularly performed with copies available at the client’s request. The LCS Consulting Practice includes market studies, feasibility analysis, highest and best use studies, location analysis, rent studies, appraisal review, arbitration, tax appeal, and litigation support services.
The LCS practice is continuing a tradition of providing real estate valuation and consulting services to Hawaii and the Pacific for over 45-years.
Members of our firm include highly recognized and qualified real estate professionals with extensive experience in assisting land owners, real estate managers, developers, lenders, investors, trusts, attorneys and governmental agencies in the solution of real estate problems requiring objective valuation and evaluation analyses.
Clients are assured that all engagements performed by our practice are led by one of our principals. Under this structure we maintain a consistent level of quality and detail.
Mr. Chee specializes in valuation and consulting assignments involving residential development, development land, complex income properties, resort and hospitality properties, and leased fee interests. Mr. Chee is a recognized industry leader in the valuation and analysis of large residential developments in the State of Hawaii and has been involved in over 50 engagements involving proposed residential development within the past five years. He is also available for arbitration assignments or engagements involving testimony as a qualified expert in real estate valuation.
Mr. Stadlbauer’s diverse income property background includes valuation and consulting involving existing and proposed self storage facilities, large retail, office, and industrial properteis, as well as specialized elderly housing (inclusive of assisted living facilities and nursing homes), and multi family housing inclusive of low income housing tax credit (LIHTC) projects. He is also available for arbitration assignments or engagements involving testimony as a qualified expert in real estate valuation.
Mr. Komatsu primarily focuses on retail and office properties. Other practice areas include litigation support, real property tax appeals, industrial, multifamily, ground leased fee interests and ground rent matters. Mr. Komatsu is graduate of the University of Colorado and holds an M.B.A. from the Shidler College of Business. He is also available for arbitration assignments or engagements involving testimony as a qualified expert in real estate valuation.
Mr. Lesher, our founder, was recognized both in the Pacific and nationally as a practicing appraiser, educator and author during a distinguished 50-year career in the appraisal profession. Following the relocation of his practice to Hawaii from Connecticut in 1970, the focus of Mr. Lesher’s practice was in the Hawaiian Islands and Pacific.
Ms. Poppinga, Real Property Analyst, is a Certified Residential Appraiser (CRA) licensed in the State of Hawaii. Ms. Poppinga practiced as an independent fee appraiser for ten years prior to joining LCS. Ms. Poppinga is a graduate of the University of Hawaii.
Direct Line: 808-564-3186
Mr. Balkin, Senior Real Property Analyst,
is a Certified General Appraiser (CGA) licensed in the State of Hawaii with expertise in various practice areas inclusive of affordable rental housing projects involving LIHTC. Mr. Balkin is a graduate of the University of Washington and previously worked as a legislative aide and research analyst in the Hawaii State Senate.
Direct Line: 808-564-3189
Ms. Manuel, Real Property Analyst, is a graduate of Pepperdine University and received her Juris Doctorate from the University of Hawai - William S. Richardson School of Law and was admitted to the Hawaii State Bar Association in 2015. Ms. Manuel also holds a Masters of Business Administration from the University of Hawaii and is an Associate Member of the Urban Land Institute (ULI Hawaii) - Young Leaders Group.
Direct Line: 808-524-1310
Steven Chee: 808-286-1511
Stephen Stadlbauer: 808-282-8229
Sidney Komatsu: 808-327-7398
900 Fort Street, Suite 1500, Honolulu, HI 96813, US