How Much is Your Management Company Worth in a REIT Roll-up Transaction?
Jul 21, 2023

Sherry Cefali is a managing director in the Transaction Opinions practice. She is also a member of the firm’s Fairness and Solvency Opinion Senior Review Committee. Sherry has over 30 years of experience of advising companies and boards, including rendering fairness opinions and solvency opinions and determining valuations of companies and securities.
Some of Sherry’s noteworthy engagements include rendering the following opinions:
Sherry co-authored the article “REIT Roll-up Transactions: How Much is Your Platform Worth” (GlobeSt.com) and the article “Management Company Values in REIT Roll-ups” (Real Estate Forum). Sherry has also authored articles related to fairness opinions and various corporate finance topics that have appeared in publications, including Mergers & Acquisitions Journal, Directorship, Los Angeles Business Journal, Business Law Today and California Lawyer.
Sherry received her MBA, with honors, from the University of Southern California and her BA in political science, cum laude, from the University of California at Santa Barbara. She holds the FINRA Series 7 and 63 licenses.
Sherry serves as a director on the board of the RF Industries (NASDAQ: RFIL), chairs the compensation committee and the governance and nominating committee and is a member of the audit committee. She is also a member of the National Association of Corporate Directors and Women Corporate Directors.
Duff & Phelps Opinions is a global leader in Fairness Opinions and Special Committee Advisory, ranking #1 for total number of global fairness opinions for full year 2022 and the past 10 years, according to Refinitiv cumulative data from 2013-2022.
M&A advisory, restructuring and insolvency, debt advisory, strategic alternatives, transaction diligence and independent financial opinions.
Duff & Phelps Opinions is a global leader in Fairness Opinions and Special Committee Advisory, ranking #1 for total number of U.S. and global fairness opinions over the past 10 years, according to Refinitiv cumulative data from 2013-2022.
#1 ranked provider of fairness opinions for boards of directors and special committees.
Duff & Phelps Opinions practice helps boards of directors and special committees formed by boards fulfill their fiduciary responsibilities when considering many corporate transactions. In 2018, Duff & Phelps acquired Kroll and unified under the Kroll brand in 2020.
Kroll's Corporate Finance ESOP/ERISA practice is a leading corporate finance and valuation advisor to companies and ERISA fiduciaries.