Peterson Joins Passco as VP Investments

IRVINE, CA—GlobeSt.com has learned exclusively that industry expert and veteran Bob Peterson has joined Passco Cos. LLC as VP, investments. He will be responsible for identifying, negotiating to acquire, underwriting and completing due diligence for the company's retail, office and industrial acquisitions throughout the nation, including both stabilized and value-add investments.

Before joining Passco, Peterson was managing director at Buchanan Street Partners, CIO at Cornerstone Real Estate Funds and EVP of acquisitions and dispositions for KBS Realty Advisors. He has also served on executive management and investment committees for more than 20 years and has served on the board of directors of a public real estate company.

In addition to his professional positions, he has earned several top industry certifications including CPA, CCIM and CPM, and he is a California-licensed real estate broker. He has been involved with NAIOP for 25 years, including serving on the Southern California chapter's board.

According to Bill Passo, CEO of the firm, “Bob has worked in real estate for more than three decades, with a primary focus on real estate investment management. His vast knowledge and expertise will bring tremendous value to our investment team at Passco Cos. as we continue to identify and acquire commercial real estate investments nationwide that provide attractive returns for our investors.”

During his career, Peterson has led the investment process for more than $6 billion in office, industrial, retail and multifamily transactions. This experience has allowed Peterson to develop a diverse background including capital formation, acquisitions, financing, leasing and management.

“I am thrilled to be joining such an experienced and successful company and team and look forward to supporting Passco's investment process as the company continues its growth in the coming years,” says Peterson.

As GlobeSt.com reported earlier this week, Passco's' SVP acquisitions Gary Goodman told us  exclusively that enough variety exists in multifamily investment to satisfy foreign investors, value-add seekers and those looking for long-term yield, . We spoke with Goodman in the wake of NMHC's Apartment Strategies Outlook Conference in Palm Springs last month to get his take on what investors are seeking, the foreign-investor outlook on this market and anticipated changes for the coming year. Goodman will also be speaking on the industry leaders' panel at the upcoming RealShare Apartments East conference in Miami Feb. 24-25—don't miss it!

Stay tuned for an in-depth interview with Bob Peterson in which he discusses the ins and outs of underwriting acquisitions in a variety of sectors.