How Do REITs Underwrite Assets?

Nguyen: “Transparency continues to be key in this ever-changing climate for the REITs.”

NEWPORT BEACH, CA—KBS’s underwriting team works closely with, but independently of, its acquisitions team to ensure any possible issues are discovered and vetted and that the assets acquired meet the requirements of its REITs, Mimi Nguyen tells GlobeSt.com. The firm recently promoted Nguyen to EVP of underwriting and Robert Durand to EVP of financing; both will also sit on the investment committee, which reviews potential acquisitions for KBS. They will replace Lori Lewis, EVP of financing and underwriting, who will be retiring after 20 years with KBS.

In her new role, Nguyen will oversee a team responsible for the underwriting, due diligence and closing of acquisitions across the country on behalf of KBS REIT, pension-fund and sovereign-wealth-fund clients and will play a lead role in managing and building relationships with third-party consultants. She will continue to have a hand in the training of analysts and the development of operational and analytical tools used throughout the company.