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John Forbes is an independent consultant advising real estate investment managers, investors and others in the real estate industry on the structure and operation of real estate funds. He has advised on the restructuring of high profile open and closed-ended real estate funds in the UK and elsewhere in Europe, as well as the establishment of new funds. He has advised service providers to the real estate investment management industry on the strategic implications of regulatory and other changes.
John is the chairman of the Independent Supervisory Board of the UBS Triton Property Fund, independent chair of the Urban Splash Residential Fund and non executive chairman of Ginkgo Advisor UK Limited.
Prior to setting up John Forbes Consulting LLP on 1st July 2013, he spent over twenty-five years with PwC, six of them in Russia where he led the firm's real estate practice in the mid 1990s. He later led PwC’s Real Estate Industry Practice in Europe, the Middle-East and Africa across all of the firm's services to the real estate industry. At PwC, John was for many years a leading adviser on the establishment of international real estate funds. He was a tax partner by background, but also advised on a range of regulatory, governance and operational matters for real estate funds, Sovereign Wealth Funds and similar investment vehicles.
He is a regular conference speaker and the author of a number of papers including “Ammonites, extinction events and the real estate fund management industry” and “Unlisted funds - lessons from the crisis” and was also one of the authors of the highly regarded PwC / Urban Land Institute Emerging Trends in Real Estate Europe report from 2009 to 2012. He is the author of the 2017 AREF / INREV report on cost transparency in listed and non-listed real estate.
John is a vice chair of the UK Executive Committee of the Urban Land Institute https://uk.uli.org and co-chair of its Capital Markets committee. He is a member of the Indirect Property Funds Group and Solvency II working party of the Investment Property Forum https://www.ipf.org.uk. He was a member of the AREF/INREV/IPF "End of Fund Life" Project Team (see here). In May 2016, John completed his three year role as the chairman of the judges for the IP Real Estate Global Awards. John is a member of the Society of Property Researchers http://www.sprweb.com/. in 2017, he undertook an independent review of fund manager behaviour following the EU referendum for the Association of Real Estate Funds (AREF). He has subsequently joined the AREF Public affairs Committee (see here) and as part of that, AREF's BREXIT working group. John won the 2017 Association of Real Estate Funds (AREF) award for "Outstanding Individual Contribution"
John is a Chartered Accountant, a Chartered Tax Adviser and a Fellow of the Royal Institution of Chartered Surveyors.
You can read a review of John's seventh year as a consultant here.