United States

Troy Merkel

Partner, Real Estate Senior Analyst

Areas of focus: Real Estate


In January 2018, Troy was selected as a senior analyst in RSM’s cutting edge Industry Eminence Program, which positions its senior analysts to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves. These senior analysts advise clients on conditions impacting middle market leaders. Troy’s focus is on the real estate industry.

Summary of experience

Troy has 15 years of experience in audit and consulting, with a particular emphasis in real estate and financial services reporting, in accordance with US GAAP, IFRS, NCREIF PREA Reporting Standards and income tax basis.  Troy also advises his clients on technology solutions tailored for the real estate industry.

He provides audit and consulting services to development, operating and investment real estate entities featuring all asset classes and types, from initial ground-up construction through disposition. He has extensive real estate valuation experience. He is also an expert in accounting for asset acquisitions and complex leases. In addition, he specializes in various tax-advantageous and government subsidized deal structures.

Troy’s financial services background involves audits of private equity funds, which hold equity or debt interests in a variety of industries including technology, consumer products, personal services, real estate and renewable resources. His expertise includes complex valuations, mezzanine and first lender analysis, as well as, the evaluation of options.

Professional affiliations and credentials

  • Certified Public Accountant, Massachusetts
  • American Institute of Certified Public Accountants
  • Massachusetts Society of Certified Public Accountants
  • NAIOP Commercial Real Estate Development Association


  • Bachelor of Science, accounting, University of Massachusetts Amherst
  • Master of Science, accounting, Northeastern University


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