Maria Ashfaq

Maria Ashfaq

B.Comm, AACI, P. App.
Associate Director
Real Estate Appraiser

Maria is an Accredited Real Estate Appraiser with over 8 years of experience in a wide variety of appraisals and consulting reports in multiple asset classes.

Her experience includes valuation preparation for the purposes of financing, litigation, arbitration and expropriation. She has completed reports for Canada’s largest development firms, institutional investors, pension funds, REITs and insurance companies.

Maria graduated with a Bachelor of Commerce from Ryerson University, with a major in Finance and a minor in Human Resources Management.

Notable Projects

Various Mixed-Use Condominium Development Sites: Estimated the market
value of numerous medium and high density mixed-use (condo) development sites
throughout Greater Toronto Area. Clients include: Dream Unlimited, Urban Capital,
Concert Properties, Fengate Asset Management, Fieldgate Homes, Broccolini, City of

  • Supported condominium market research for a large residential feasibility project within downtown Toronto.
  • Determined Highest and Best Use and project feasibility with extensive knowledge of municipal planning and land use regulations.
  • Compiled valuations for land at various stages of development in southern Ontario with a greater focus in the Greater Toronto Area.
  • Appraised residential and mixed-use condominium projects on an “as completed”, and “as-though vacant” basis.
  • Analyzed the impact on land value from assembling various infill parcels.
  • Supported valuation for expropriation involving air rights within Downtown Toronto for an infrastructure related project deemed to reshape transit for Downtown commuters.
  • Assisted in completing a detailed Air Right study comparing sale of air rights in urban cities across North America for Hydro One.
  • Assisted with the expropriation of lands for the Eglinton Crosstown Light Rapid Transit, a major urban transit renewal project.
  • Supported extensively a benchmark valuation for the proposed Eastern Mainline Project for TransCanada Pipeline Corporation.
  • Assisted and appraised several single and multi-tenant office buildings located throughout the GTA and downtown Toronto, specifically standalone suburban buildings to prestigious bank towers in the downtown core.
Post Graduate Certificate in Real Property Valuation
University of British Columbia (UBC) and the Appraisal Institute of Canada (AIC)
Bachelor of Commerce (Major: Finance)
Ryerson University, Ontario
Professional Qualifications and Memberships
Appraisal Institute of Canada Accredited Appraiser Canadian Institute (AACI, P. App.)
Member of NAIOP
Member of CREW
Member of Ontario Expropriation Association
Prior Experience
2022 - Current
Associate Director
MPR Advisors Inc. Planning & Appraisal
2020 - 2022
Senior Consultant
Altus Group Limited
2018 - 2020
Altus Group Limited
2016 - 2018
Senior Analyst
Altus Group Limited
2014 - 2016
Altus Group Limited