Paul Bakken, MAI, CCIM, MS


Paul Bakken was born and raised in Fergus Falls, Minnesota.  He graduated from Bethel University, Arden Hills in 1984 with a business degree.  In 1987, he graduated from the University of Wisconsin - Madison with a  Masters Degree in Real Estate Appraisal and Investment Analysis, studying under the renowned Dr. James Graaskamp.


His appraisal career started in 1984 as a staff appraiser with American Appraisal based out of Minneapolis, MN where he specialized in national commercial properties. Mr. Bakken appraised complex commercial properties in 27 states during his two years of work at American Appraisal.  


Mr. Bakken left American Appraisal to become a co-owner of Johnson, Liedl & Bakken Company in 1987, which expanded into Bakken & Liedl, then into Bakken, Liedl, Janssen, Day & Reach and finally into The Valuation Group in 2003.  Mr. Bakken is President of The Valuation Group.


Mr. Bakken typically appraises complex commercial real estate.  Recent retail engagements include: Southdale, Shoppes of Arbor Lakes, The Galleria,  Ridgedale, Northtown Mall, Eden Prairie Center, Woodbury Lakes, Rosedale, Burnsville Center, and Maplewood Mall.  Recent office assignments include: 3M’s seven million square foot corporate headquarters, Medtronic’s HQ, ADC’s HQ, Best Buy HQ, Imation, HQ, General Mills’ HQ,  World Trade Center, Crescent Ridge I & II, LaSalle Plaza, and over twelve other downtown Minneapolis CBD high-rise office towers along with other investment properties.  


A specialty of Mr. Bakken’s would be the valuation of industrial properties over 1,000,000 square feet. Mr. Bakken has appraised over 50 very large industrial properties.


Paul is married, has three children, and lives in Plymouth, MN.  Hobbies include: golf, boating, travel and coaching youth activities.


Professional Affiliates - Member, Appraisal Institute (MAI), 1989


Certified Commercial Investment Member (CCIM), 1996


Instructor and speaker at numerous classes and events.


Minnesota Certified General Real Property Appraiser #4001461

David Reach, MAI


Mr. Reach is a founding Principal in the real estate appraisal and consulting firm. 


He began his career with American Appraisal Associates, Inc. as an assistant appraiser in 1984, advancing to Manager of the Real Estate Advisory Group by 1989.  


Mr. Reach left American Appraisal in 1991 to join Johnson Liedl & Bakken, Inc., which later became Bakken, Liedl, Janssen, Day & Reach, Inc., and now The Valuation Group, Inc. 


Mr. Reach specializes in the appraisal of investment real estate.  His appraisal experience includes office parks and buildings, shopping centers, retail stores, subsidized and conventional apartment complexes, hotels, casinos, elderly congregate and lifecare facilities, land developments, and industrial and manufacturing plants with special emphasis on appraisals for condemnation and ad valorem purposes.  Mr. Reach has also made partial interest and business enterprise appraisals. 


Mr. Reach has testified as an expert witness in Federal, State, and County courts, as well as in Commissioner Hearings, arbitration and other litigation proceedings. 


Mr. Reach holds the MAI designation of the Appraisal Institute.


Minnesota Certified General Real Property Appraiser #4000648


Wisconsin Certified General Real Property Appraiser #635


Iowa Certified General Real Property Appraiser #CG03150


North Dakota Certified General Real Property Appraiser #CG-21509

Matthew Schroeder, MAI


Upon graduating from St. Cloud State University in 2004, Mr. Schroeder began his career as a commercial real estate appraiser with The Valuation Group, Inc.


During his time at The Valuation Group, Inc., Mr. Schroeder’s appraisal assignments have consisted of lending assignments for securing new collateral and refinancing, condemnation (for both condemning authorities as well as property owners), estate planning, and property tax appeal assignments.


Mr. Schroeder’s appraisal assignments have primarily been focused on lending and property tax appeal assignments. He has successfully worked for both taxing authorities as well as property owners in property tax appeal cases.


In 2012, Mr. Schroeder was awarded the MAI designation from the Appraisal Institute. Mr. Schroeder’s appraisal experience includes a wide variety of property types from small owner-occupied real estate up to multi-tenant office complexes totaling more than 300,000± square feet and manufacturing facilities over 750,000± square feet.


The wide and varied exposure to multiple property types has given Mr. Schroeder the competency and knowledge required to address the relevant valuation issues and successfully identify the subject’s highest and best use. In turn, Mr. Schroeder is able to address and convey to the client the critical valuation issues in a highly visual and concise report.


Minnesota Certified General Real Property Appraiser #20462221