Ness & Associates
Ness & Associates is a Kentucky-based boutique real estate advisory firm providing valuation and consulting, capital advisory, investment management, and executive speaking services to commercial real estate owners, developers, and institutional investors primarily across the Midwestern and Southeastern United States.
- Company typePrivate
- Founded2023
- HeadquartersLouisville, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Ness & Associates does
Ness & Associates is a Kentucky-based boutique advisory firm founded in 2023 by Patrick Nessenthaler that delivers four integrated service modules to commercial real estate clients: real property valuation and consulting (including appraisals, market and feasibility studies, litigation support, and property tax appeals), capital advisory for sourcing and executing debt and equity transactions, executive speaking engagements at universities and industry bodies, and investment management focused on niche esoteric asset classes (self-storage, data centers, student housing, medical office, senior housing, and life sciences). The firm serves real estate owners, developers, operators, and institutional investors primarily across the Midwestern and Southeastern United States, leveraging a principal-level track record exceeding $4.0BN in executed transactions and a network of capital sources spanning major banks (Wells Fargo, UBS, KeyBank, Bank OZK, Frost Bank, Central National Bank) and intermediaries (Grandbridge, Capital Funding Group, Ackman-Ziff).
The underlying operating model is people-led rather than technology-led: there is no proprietary software platform, API, or third-party integrations described. Service delivery is direct, quote-based, and engagement-scoped, with revenue generated from project-based consulting fees, advisory and success fees on capital placements, speaking honoraria, and fee-based asset management. Distribution is consultative, field-based, and almost entirely dependent on the principals' professional reputation, academic positions at University of Louisville and Rutgers, CFANY vice-chairmanship, and word-of-mouth from a deep network of former colleagues and institutional counterparties.
The team is small (1–10 employees with two named principals — founder Patrick Nessenthaler, CFA/CAIA/MAI/CRE with three Cornell master's degrees, and Partner Simone McCauley from PGIM Real Estate). The firm carries a 2015 REBNY 'Most Ingenious Financing' award as a credibility marker but has no disclosed external funding, subsidiaries, or public financial reporting. Geographic concentration in Midwestern and Southeastern markets distinguishes it from coastal investment banks, though this also caps near-term scale absent broader geographic or product expansion.
Ness & Associates firmographics
Firmographics- Name
- Ness & Associates
- Legal name
- Ness & Associates LLC
- Website
- https://nessandassociates.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Ness & Associates is a Kentucky-based boutique real estate advisory firm providing valuation and consulting, capital advisory, investment management, and executive speaking services to commercial real estate owners, developers, and institutional investors primarily across the Midwestern and Southeastern United States.
- Ownership category
- akta.pro rank
Ness & Associates industry classification
Industry- Product category
- Real Estate Advisory & Capital Markets
- NAICS
- Portfolio Management and Investment Advice (523940), Management Consulting Services (54161), Offices of Real Estate Appraisers (53132)
- SIC
- Investment Advice (6282), Services-Management Consulting Services (8742), Real Estate (6500)
- akta.pro primary industry
- Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)
- akta.pro secondary industries
- Real Estate Strategy & Portfolio Consulting (Corporate/Institutional) (BPAJANAB), M&A Advisory (Buy-Side & Sell-Side) (BPAHAOAA)
Keywords
Where Ness & Associates is headquartered
LocationHeadquarters
- HQ city
- Louisville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Ness & Associates business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Valuation & Consulting Services: Fees generated from providing real property advisory including valuations, market studies, feasibility studies, litigation support, testimony, and property tax appeals. These are typically project-based or engagement-based fees.
- Capital Advisory Fees: Boutique capital advisory services for sourcing, negotiating, and executing debt and equity transactions. Revenue is generated through advisory fees and transaction success fees for complex capital stack arrangements.
- Executive Speaking: Revenue from speaking engagements at universities, CFA Society events, real estate clubs, and professional fraternities.
- Investment Management: Fee-based investment management services for sourcing and executing real estate investments in niche asset classes including self-storage, data centers, student housing, medical office buildings, senior housing, and life sciences.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Ness & Associates product offering
Product offeringCore offering
Ness & Associates is a boutique real estate investment and advisory firm that delivers four integrated services: Valuation & Consulting (property appraisals, market and feasibility studies, litigation support, property tax appeals), Capital Advisory (sourcing, negotiating, and executing complex debt and equity transactions across asset classes), Investment Management (customized strategies in niche assets such as self-storage, data centers, student housing, medical office buildings, senior housing, and life sciences), and Executive Speaking (lectures at universities and CFA Society events). The firm operates as an 'Executive Co-pilot' providing high-touch advisory to real estate owners, operators, developers, and institutional investors with over $4.0BN in executed transactions.
Product overview
Ness & Associates operates as a unified real estate consulting and investment platform offering four integrated service modules: Valuation & Consulting for property advisory and appraisals; Capital Advisory for sourcing and executing debt and equity transactions; Executive Speaking for professional education and thought leadership; and Investment Management for customized property investment strategies. The four service lines work together to provide clients comprehensive support from property analysis through capital raising to active investment management, with a primary focus on the Midwestern and Southeastern United States.
Differentiator
Problem solved
Functional benefit
Products and services
- Valuation & Consulting Real property advisory service providing reliable insights backed by comprehensive data and professional experience, including litigation support, property appraisals, market studies, feasibility studies, and property tax appeals across all property types. Targeted at commercial real estate owners, operators, developers, attorneys, and institutional clients needing defensible valuation and advisory work.
- Capital Advisory
- Investment Management
- Executive Speaking
Quantifiable outcome
- Over $4.0BN in complex debt and equity transactions executed across various asset classes
- +3 more outcomes
Companies that use Ness & Associates
Customer profileNamed customers18 records
Segments4 records
Ideal customer profiles3 records
Ness & Associates technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Ness & Associates partnerships and signals
Strategic signalScale indicators6 records
Recent moves5 records
Expansion highlights4 records
Ness & Associates competitors and assessment
Company assessmentBroad incumbents
- JLL Capital Markets: Global commercial real estate services firm with a large capital markets division providing debt advisory, equity placement, and investment sales. Competes with Ness & Associates on capital advisory mandates but at vastly greater scale and geographic reach.
- Cushman & Wakefield: Global commercial real estate services firm offering capital markets, valuation & advisory, and investment management services. Direct overlap with Ness & Associates' service lines, particularly valuation/consulting and capital advisory.
- CBRE Capital Markets: World's largest commercial real estate services firm with a dominant capital markets platform handling debt origination, equity placement, and structured finance. Represents the institutional incumbent against which boutique advisory firms compete.
- Eastdil Secured: Premier real estate investment bank focused on large and complex commercial real estate capital markets transactions. Provides the high-end benchmark against which mid-market capital advisory firms position themselves.
- Newmark Group: Publicly traded commercial real estate advisory firm with strong capital markets and valuation practices. Competes in the same debt advisory and structured finance segments as Ness & Associates.
- Walker & Dunlop: Large commercial real estate finance company focused on multifamily and healthcare debt origination and investment sales. Direct overlap with Ness & Associates' healthcare real estate and multifamily capital advisory capabilities.
Direct peers
- Northmarq: Privately held commercial real estate capital markets and investment sales firm with regional offices across the U.S. Comparable in mid-market debt/equity placement focus and direct-lender relationships; somewhat larger footprint.
- Ackman-Ziff Real Estate Group: Boutique commercial real estate capital advisory and investment sales firm where founder Patrick Nessenthaler previously worked. Directly comparable in service mix (debt/equity placement, structured capital) and target client base (developers, institutional investors).
- Meridian Capital Group: One of the largest independent commercial real estate finance advisors in the U.S., specializing in debt placement and structured capital for multifamily and commercial properties. Comparable in core capital-advisory business model, though significantly larger in scale.
- Integra Realty Resources: National commercial real estate valuation and consulting firm where the founder previously worked. Directly comparable in valuation & consulting services, including appraisals, market studies, and litigation support.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Ness & Associates social profiles
Digital presenceNess & Associates financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ness & Associates leadership team
Management profileNumber of profiles
Profiles2 records
Ness & Associates funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ness & Associates M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ness & Associates
What does Ness & Associates do?
Ness & Associates is a boutique real estate investment and advisory firm that delivers four integrated services: Valuation & Consulting (property appraisals, market and feasibility studies, litigation support, property tax appeals), Capital Advisory (sourcing, negotiating, and executing complex debt and equity transactions across asset classes), Investment Management (customized strategies in niche assets such as self-storage, data centers, student housing, medical office buildings, senior housing, and life sciences), and Executive Speaking (lectures at universities and CFA Society events). The firm operates as an 'Executive Co-pilot' providing high-touch advisory to real estate owners, operators, developers, and institutional investors with over $4.0BN in executed transactions.
Is Ness & Associates a public or private company?
Ness & Associates is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Ness & Associates founded?
Ness & Associates was founded in 2023. It employs 1 to 10 people.
Where is Ness & Associates based?
Ness & Associates is headquartered in Louisville, United States, in the North America region.
How does Ness & Associates make money?
Four revenue lines are on record. Valuation & Consulting Services are the primary driver. The others are capital Advisory Fees, executive Speaking and investment Management.
Who are Ness & Associates's main competitors?
Broad incumbents on record are JLL Capital Markets, Cushman & Wakefield, CBRE Capital Markets, Eastdil Secured, Newmark Group and Walker & Dunlop. Direct peers are Northmarq, Ackman-Ziff Real Estate Group, Meridian Capital Group and Integra Realty Resources.
Does Ness & Associates have an API?
No public API is recorded for Ness & Associates.
What industry is Ness & Associates in?
Ness & Associates's product category is Real Estate Advisory & Capital Markets. Its primary akta.pro industry code is BPAJANAA, Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation), with a secondary code of BPAJANAB, Real Estate Strategy & Portfolio Consulting (Corporate/Institutional). Its NAICS code is 523940 and its SIC code is 6282.