Property Valuations

Providing comprehensive real estate valuation and consulting services to both the public and private sectors.

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Research & Analysis

In addition to valuations, we also offer a variety of services aimed at property research and real estate analysis.

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Property Types

Our assignments include property types ranging from residential subdivisions to complex/trophy properties.

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ABOUT US

Lipman Frizzell & Mitchell is a real estate valuation and consulting firm that serves the Washington and Baltimore metropolitan region with a staff of 12 professionals plus five support persons. Six of the professionals hold the MAI designation from the Appraisal Institute. Since our formation in 1977, we have focused on complex appraisal assignments, provided expert witness testimony in litigation matters involving some of the areas’ major cases, (several of which have set precedent) and have provided consulting expertise to our clients to assist in important decision-making involving major real estate projects throughout the region.

We continue to tackle basic to complex valuation problems. The combined experience of our principals and the sophistication and technical expertise of our staff coalesce to provide our clients the finest appraisal and consulting services available in the region.

Being one of the larger regional organizations of its kind, our database is second to none and, given our 40+ year history, we maintain files on a large portion of the region's standing inventory of major real estate properties.

Please contact us to discuss how Lipman Frizzell & Mitchell llc can assist with your real estate valuation and consulting needs.

Our Clients

Our client list speaks for itself and includes insurance companies, financial institutions, developers, investors, educational, health and charitable institutions, city, state and federal governments and the attorneys and accountants who serve them.

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Our Team

Principals

M. Ronald Lipman, MAI

rlipman@LFMvalue.com
410-423-2300 • 410-423-2328
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M. Ronald Lipman, MAI

rlipman@LFMvalue.com
410-423-2300 • 410-423-2328

About M. Ronald Lipman, MAI

M. Ronald Lipman is a founding partner of Lipman, Frizzell & Mitchell LLC. Ron has over 50 years of experience as a real estate appraiser and, over the past 30 years, has provided extensive real estate counseling services to property owners, developers, banking and investment clients and their legal representatives, with a specialty in real property tax appeals and fractional/minority interest valuations in the context of estate planning and estate administration.

Ron has considerable experience in complex appraisal assignments and litigation matters, having participated in some of the state’s most important court cases, several of which have set legal precedent. Ron’s personal experiences as a developer, investor, joint partner, and previously as a trustee of Mid Atlantic Realty Trust (NYSE) add significantly to his ability to provide effective, pragmatic consulting advice to his clients.

Ron holds the MAI designation of the Appraisal Institute and is licensed as a Certified General Appraiser in Maryland, Virginia and Washington DC. He earned a Bachelor of Arts degree from Duke University and a Masters of Business Administration in Real Estate from American University.

George P. Frizzell

gfrizzell@LFMvalue.com 
410-423-2300
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George P. Frizzell

gfrizzell@LFMvalue.com 
410-423-2300

About George P. Frizzell

A founding partner of Lipman Frizzell & Mitchell LLC, George brings over 40 years of expertise to the firm. He holds a business degree from the University of Maryland and began his career in Urban Planning, a background that provided a natural transition to the valuation field.
George is a former real estate appraisal instructor at Towson University, where he lectured on various valuation concepts. He continues to counsel clients and support the firm, drawing on his extensive experience in the Mid-Atlantic real estate market.

Ryland L. Mitchell III

rmitchell@LFMvalue.com
410-423-2300
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Ryland L. Mitchell III

rmitchell@LFMvalue.com
410-423-2300

About Ryland L. Mitchell III

Ryland is a founding partner of Lipman Frizzell & Mitchell LLC, helping establish the firm in 1977 following six years with McCurdy Lipman & Associates. A graduate of the University of Richmond, he also completed advanced graduate studies in real estate at the University of Florida.

With nearly five decades of experience, Ryland specializes in real estate tax assessment analysis, condemnation, and litigation support throughout the Mid-Atlantic. A seasoned expert witness, he has provided testimony before the U.S. Bankruptcy and District Courts, the Superior Court of the District of Columbia, and the Maryland Tax Court, as well as various circuit courts throughout the region.

Calvin V. Thomas, MAI

cthomas@LFMvalue.com
410-423-2300 • 410-423-2336
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Calvin V. Thomas, MAI

cthomas@LFMvalue.com
410-423-2300 • 410-423-2336

About Calvin V. Thomas, MAI

With over 40 years of appraisal and consulting experience, Calvin has been with Lipman Frizzell & Mitchell LLC since 1996 and became a partner in 1998. Prior to LFM, he was Senior Vice President of a regional appraisal firm in Baltimore. He has also served as an appraiser and mortgage loan officer for various local and regional banks. Calvin is a licensed Certified General Appraiser in Maryland, Virginia, and Washington DC. He holds the MAI designation of the Appraisal Institute and is a licensed real estate broker in Maryland. He earned his Bachelor of Science degree in Economics from the University of Maryland.

Calvin has analyzed and appraised real estate projects throughout the Mid-Atlantic States and has worked nationwide on portfolio valuations. He has testified as an expert witness for U.S. Bankruptcy Court, Maryland Tax Court, Circuit Court of Prince George’s County, and the Circuit Court of Baltimore. His primarily areas of expertise are income producing properties, vacant land, rights-of-way, religious buildings, schools and other special purpose real estate.

James E. Caminis, MAI

jcaminis@LFMvalue.com
410-423-2320
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James E. Caminis, MAI

jcaminis@LFMvalue.com
410-423-2320
Connect

About James E. Caminis, MAI

James is a principal with the firm, bringing over 20 years of expertise to Lipman Frizzell & Mitchell LLC. He holds the MAI designation from the Appraisal Institute and served a two-year term as President of its Maryland Chapter. James is a Certified General Real Estate Appraiser licensed in Maryland, Delaware, Virginia, and the District of Columbia. He earned his Bachelor of Science from the Weatherhead School of Management at Case Western Reserve University.

As an expert witness, James has provided testimony before the Maryland Tax Court and the Washington, D.C. Property Tax Assessment Appeals Board (PTAAB). His background in valuation, consulting, tax appeal, estate planning, and litigation support spans a wide range of asset types, including industrial, office, and retail buildings; shopping centers; net-leased properties; mixed-use developments; vacant land; portfolio/estate valuation; and partial interest valuations.

Stacy A. Harman

sharman@LFMvalue.com
410-423-2322
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Stacy A. Harman

sharman@LFMvalue.com
410-423-2322
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About Stacy A. Harman

Stacy is a Principal at LFM and has been with the firm for over 30 years. She joined the firm in 1988 as an administrative assistant and has since become a Certified General Appraiser in the State of Maryland, Delaware and Pennsylvania. Stacy is a member of Commercial Real Estate Women (CREW) – Baltimore and serves as Secretary of the Maryland Chapter of the Appraisal Institute. In 2020, Stacy was appointed by Governor Hogan to serve a 3-year term on the Maryland State Commission of Real Estate Appraisers, Appraisal Management Companies and Home Inspectors.

Stacy has testified as an expert witness in Baltimore County Orphans' Court. Her valuation assignments have included retail, office, and industrial buildings; shopping centers; special purpose properties; automobile dealerships, country clubs and golf courses, marinas, churches, and schools, partial takings, conservation easements, planned developments, residential subdivisions, and unimproved land. Her assignments have been concentrated in the Baltimore/Washington metropolitan area, Maryland’s Eastern, Southern, and Western Shores and Delaware.

Kevin L. Kagen, MAI

kkagen@LFMvalue.com
410-423-2378
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Kevin L. Kagen, MAI

kkagen@LFMvalue.com
410-423-2378
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About Kevin L. Kagen, MAI

Kevin Kagen has been with LFM since 2010. Kevin is a licensed Certified General Appraiser in the State of Maryland, Commonwealth of Virginia, and the District of Columbia. He earned a Bachelor of Science degree from the University of South Carolina and a Masters of Real Estate (MSRE) degree from Johns Hopkins University. Kevin holds the MAI designation of the Appraisal Institute.

Kevin has valuation experience of a variety of property types including hotels; apartment buildings; office, retail, industrial, and mixed-use properties; and vacant land and residential subdivisions in the Baltimore and Washington D.C. metropolitan areas and Northern Virginia.

Michael J. Chicorelli, MAI

mchicorelli@LFMvalue.com
410-423-2340
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Michael J. Chicorelli, MAI

mchicorelli@LFMvalue.com
410-423-2340

About Michael J. Chicorelli, MAI

Michael joined Lipman Frizzell & Mitchell LLC in August 2005 and in March 2019 became a Principal with the firm. Michael is a graduate of Towson University where he earned a Bachelor’s Degree in Biology, with a Chemistry minor. He obtained a Master’s degree in Environmental Science from Johns Hopkins University. Prior to joining LFM, Michael worked as an environmental engineer and consultant. He holds certified general real estate appraiser licenses in the State of Maryland, Commonwealth of Virginia, and the District of Columbia.

Michael’s appraisal experience includes a focus on right-of-way assignments, with 50+ reports written over the past year related to condemnation proceedings. Other valuation and consulting assignments include: office buildings, shopping centers, industrial properties, mixed-use and urban developments, subdivisions, distressed real estate, tax appeals, estate planning, easement valuation, feasibility studies, government rent studies, and going concern appraisals. Michael has testified as an expert witness for U.S. Bankruptcy Court, Maryland Tax Court, Circuit Court of Prince George’s County, and PTAAB.

Senior Associates

F. Ford Dennis, Jr.

fdennis@LFMvalue.com
410-423-2344
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F. Ford Dennis, Jr.

fdennis@LFMvalue.com
410-423-2344
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About F. Ford Dennis, Jr.

Ford is a Senior Associate at Lipman Frizzell & Mitchell LLC, with nearly 30 years of experience at the firm. He is a Certified General Real Estate Appraiser licensed in Maryland, Virginia, and the District of Columbia. An alumnus of the University of Maryland, College Park, Ford earned a Bachelor of Arts in Economics and a Master of Business Administration from the Robert H. Smith School of Business.

Ford has served as a guest lecturer at the University of Maryland’s Colvin Institute of Real Estate Development. His professional focus centers on institutional-grade assets and new developments throughout the Washington and Baltimore metropolitan areas. His valuation and consulting assignments cover industrial, retail, and office buildings; mixed-use properties; educational and religious facilities; net-leased assets; and complex land valuations.

Kevin Daeninck

kdaeninck@LFMvalue.com
410-423-2348
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Kevin Daeninck

kdaeninck@LFMvalue.com
410-423-2348

About Kevin Daeninck

Kevin began his career at LFM as a summer intern in 2018, after which he continued as a part-time Analyst. Kevin joined the firm full-time after graduating from the University of Maryland - College Park in May 2019 with a Bachelor of Science degree in finance. Kevin was promoted to Associate after earning his appraiser trainee license and then to Senior Associate in early 2022 upon becoming a Certified General Real Estate Appraiser. He is licensed in Maryland, Virginia, and the District of Columbia.

Associates

Michael Drew Patrick

dpatrick@lfmvalue.com
410-423-2350
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Michael Drew Patrick

dpatrick@lfmvalue.com
410-423-2350

About Michael Drew Patrick

Drew Patrick joined Lipman Frizzell & Mitchell in February 2023 as an Associate. He brings more than five years of appraisal review and quality control experience from his previous firm. A graduate of the University of North Carolina at Chapel Hill, Drew earned Bachelor of Arts degrees in both Psychology and Dramatic Arts.

As an Associate at LFM, Drew collaborates with the firm’s principals on a diverse range of property types. He is a Certified General Real Estate Appraiser licensed in Maryland and the District of Columbia.

Allie Post

apost@lfmvalue.com
410-423-2340
Connect • READ BIO

Allie Post

apost@lfmvalue.com
410-423-2340
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About Allie Post

Allie is an Associate at Lipman Frizzell & Mitchell LLC (LFM). She earned her Bachelor of Science in Business Administration from Towson University in May 2025. After joining the firm as a summer intern in 2024, Allie continued as a part-time analyst through her final year of study. Now working closely with the LFM partners, she is actively pursuing her certified general commercial appraiser license in the State of Maryland.

Sky Samaco

ssamaco@LFMvalue.com
410-423-2366
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Sky Samaco

ssamaco@LFMvalue.com
410-423-2366

About Sky Samaco

Sky is an Associate at Lipman Frizzell & Mitchell LLC. He joined the firm as a summer intern in 2025 and continued with the team to gain experience in appraisal and valuation. Sky is in his final year at Loyola University Maryland, earning a Bachelor of Business Administration in Accounting. Working closely with LFM partners, he is developing his expertise and pursuing a certified general commercial appraiser license in Maryland.

Operations Director

Debbie Ryba

dryba@LFMvalue.com
410-423-2300

Recent News

Coronavirus (COVID-19)

During the Coronavirus (COVID-19) pandemic, Lipman Frizzell & Mitchell took the necessary steps to maintain the safety of our employees, colleagues, clients, and the real estate community.  Over the course of the pandemic, we remained committed to completing our client engagements with the same level of timeliness and thoroughness to which you are accustomed.

Although Covid-19 has been challenging for everyone, it is sincerely our hope that the pandemic and its negative effects are mostly in the rearview mirror.  We encourage you to reach out to us regarding your valuation issues, Covid-19 or otherwise, on your mind. Our staff is available to answer your questions as we remain focused on providing to you, our client base, the valuation services you require. As always, thank you for the continued trust you place in Lipman Frizzell & Mitchell.

 

 

Join Us

Lipman Frizzell & Mitchell LLC (LFM) has a relaxed, collaborative culture that supports a work-life balance. Every employee plays a vital role in providing reliable and sophisticated real estate services to our clients. The firm’s success is directly linked to a dedicated and self-driven staff.

Employment with LFM means you pride yourself on delivering “boutique” and professional service. Employees receive hands-on training and mentorship with industry-leading professionals. Lipman Frizzell & Mitchell LLC is an equal opportunity employer and is committed to, and prides itself on, being an inclusive and diverse workplace.

Contact

Maryland Office

Lyndwood Executive Center
6085 Marshalee Drive, Suite 200
Elkridge, Maryland 21075
410-423-2300
410-423-2410 (fax)

Virginia Office

1818 Library Street, Ste. 500
Reston, Virginia 20190
703-454-0278
410-423-2410 (fax)

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