KBS Capital Names CFO as Portfolio Grows

NEWPORT BEACH, CA-KBS Capital Advisors has named former Nationwide Health Properties controller David Snyder to the newly created post of chief financial officer to bolster the KBS management team in light of the growing portfolio of nontraded REITs offered by KBS, which is an affiliate of KBS Realty Advisors. According to KBS Capital partner Chuck Schreiber, the firm chose Snyder for the new position because of his experience at Newport Beach-based Nationwide, a healthcare properties REIT, where Snyder was part of a four-member senior management team that helped grow total assets from $1.4 billion to $3.1 billion in four years.

According to Schreiber, the recent increase in REIT activity by KBS prompted it to establish the CFO position so that the new exec can manage the investment firm’s current offerings and help prepare for the formation of future offerings.In his new CFO position with KBS, Snyder will oversee the financial management of KBS REIT I and KBS REIT II, and has been elected chief financial officer of KBS REIT I and KBS REIT II by the respective board of directors of each REIT.