Timothy H. Baker

Managing Partner



Mr. Baker has been in the appraisal industry since 1981 with a concentration on healthcare and seniors housing properties. His valuation experience includes valuing the business enterprise, real estate, and personal property. Valuations have been performed on a national and international basis. Consulting engagements include market and financial feasibility studies.

Mr. Baker has experience in the valuation of numerous healthcare facilities including acute care, behavioral health, and rehabilitation hospitals. Seniors housing properties include nursing homes, assisted living facilities, and retirement centers. Other related operations include research facilities, healthcare leasing companies, physician practices, and medical office buildings. Mr. Baker has also provided consultations on market assessment, demand analysis, reimbursement issues, development of fixed asset records, and has provided analysis of strategic opportunities. Valuation reports prepared by Mr. Baker have been used for several purposes including public offerings, litigation support, HUD 232 and 242 mortgage insurance programs, acquisition/divestitures, property tax purposes, state reimbursement, estate planning, and for internal management decision making.

Professional History

  • 2007 to present – Managing Partner, Principle Valuation, LLC.
  • 2001 to 2007 – Senior Vice President, Wellspring Valuation, Ltd.
  • 1997 to 2001 – Vice President, Marshall & Stevens National Healthcare Practice
  • 1992 to 1997 – Senior Manager, Capital Valuation Group, specializing in the valuation of the business and real estate of seniors housing and healthcare related facilities.
  • 1981 to 1992 – Manager, Valuation Counselors where he was responsible for performing a multitude of appraisal and consulting services for clients specializing in business enterprise, real estate, and machinery and equipment.

Professional Affiliations

  • Advisory Committee Member, American Senior Housing Association
  • Healthcare Financial Management Association
  • American Health Lawyers Association
  • Associate Member Appraisal Institute

Education, Licenses and Designations

  • 1980 graduate of Bucknell University with a Bachelor of Science in Business Administration
  • Certified General Real Estate Appraiser in Arizona, Indiana, Maryland, New Jersey and New York


  • Testified as expert witness in California, Colorado, Connecticut, New Hampshire, New Jersey and Pennsylvania

Our clients have used Principle Valuation for valuations for purchase and sale transactions, compensation relationships, and support for tax purposes. They do straightforward and intelligent work, and are very responsive.

Scott Becker, Partner, McGuire Woods

We selected Principle because of their experience and reputation in the market. They are very knowledgeable about the industry, and particularly HUD financing. They were very thorough and hit their deadlines. Their appraisal went through HUD with no issues, which also made the borrower very happy.

Ken Buchanan, Senior Vice President and Chief Underwriter (Eastern Region), Walker Dunlop

Principle Valuation provides excellent valuations for ongoing healthcare enterprises, as well as placing values on the individual assets. They are very timely, reliable, have a solid understanding of the regulatory implications of their work, and are authoritative in the way they present their information.

Mike Anthony, Partner, McDermott, Will & Emery

Principle Valuation is far superior to any other valuation firm we have worked with. They are knowledgeable about businesses, real estate and equipment. And their reports are always right the first time.

Ken Doran, President and CEO, Spectrum Heatlh Partners


190 South La Salle Street, Suite 2900
Chicago, IL 60603