Corridor Capital Hits the Bullseye – Invests in Dart Appraisal

Los Angeles, CA – Corridor Capital, LLC (“Corridor”) announced today an investment in Dart Appraisal, LLC (“Dart Appraisal,” “Dart” or the “Company”) in collaboration with management, in support of its rapidly growing appraisal management platform. Dart’s management team is enthusiastic to welcome Corridor as an investor focused on expanding the Company and enhancing its service offerings. This is Corridor’s first platform investment from Corridor Capital IV, L.P. and Corridor’s second foray into the Appraisal Management Company (“AMC”) sector. Corridor’s Fund II previously invested in six appraisal management businesses, most notably with Nationwide Property & Appraisal Services.

Dart Appraisal is a leading nationwide AMC specializing in residential and commercial real estate appraisals. Founded in 1993 and headquartered in Troy, Michigan, Dart serves over 400 clients — including credit unions, community banks and mortgage lenders — across all 50 states. Known for its customer service, proprietary technology platform and long-term client relationships, Corridor believes Dart has built a reputation for delivering accurate, efficient and tech-enhanced appraisal solutions. With offices in Michigan, Georgia and New Jersey and a panel of over 10,000 appraisers, Dart has been scaling through a combination of organic growth and strategic acquisitions.

Corridor perceives the Company to have been resilient through the high-interest rate environment, driven by its commitment to delivering a superior level of service to its lender and appraiser partners, proprietary processes and technology and focused compliance practices. With the benefit of Corridor’s strategic, operational and financial support capabilities, Corridor will strive to work closely with Dart to further accelerate growth and expand offerings to create additional value for clients. Moreover, Corridor aspires to enhance Dart’s position in the AMC industry through additional investments in sales, technology and marketing, as well as new product and service development, both organically and through strategic acquisitions.

The leadership team, including CEO Michael Dresden, will remain with the business in their current roles and are excited to partner with Corridor to accelerate the Company’s growth. Moreover, Michael Dresden will remain a material owner of the business.

“We are thrilled to join forces with Dart Appraisal. Our focus is on allying with companies that have a strong market leadership position, a history of profitable growth and enduring customer relationships. Dart embodies all of these qualities, and we look forward to supporting their ambitious plans for the future,” said Corridor CEO, Craig Enenstein.

“We believe that working with Corridor will allow us to continue on our growth trajectory while enhancing the services we provide to our customers,” said Michael Dresden, CEO of Dart Appraisal. “With their support, we will endeavor to accelerate our progress across new geographies, product lines and market segments.”

Michael Dresden further emphasized, “We believe the time is right to take our efforts to the next level and chose to work with Corridor because of their extensive track record accelerating the growth of companies like Dart Appraisal. One of the key considerations for me when choosing a partner was their commitment to our exceptional standards of customer care. Our Dart DNA is unchangeable; it is a core aspect that our customers truly appreciate. Corridor shares this belief in our culture and agility, and I want to emphasize that our people and systems will remain constant throughout this relationship. We are proud of all we’ve accomplished so far and are excited about the potential for increased growth and innovation.”

“We look forward to joining forces with the Dart team as they enter their next phase of growth. We have been impressed by Dart’s deep dedication to client service and their track record of delivering solutions within the appraisal management space. We are pleased to support their continued success building on the great foundation they have created,” said Corridor Operations & Advisory Group Managing Director, Cici Zheng.

Morgan, Lewis & Bockius LLP served as legal advisor, Saul Ewing LLP as AMC licensure legal advisor and Kroll, LLC provided financial diligence support to Corridor. Brookside Capital Partners provided debt financing along with an equity coinvestment in support of the investment.