Nigel D. Hughes is a Managing Director at Ankura, based in San Francisco. He has expertise on global real estate and construction. Nigel has over 21 years of experience serving in both corporate and consulting capacities in the United States, Australia, and Europe. Nigel assists owners and investors to evaluate real estate landholdings, investments, and development opportunities. In addition, he helps real estate companies to achieve meaningful improvements in their operational efficiency through organizational assessments and business process improvements. Further, Nigel provides expert services for clients involved in disputes and litigation.
Nigel’s professional experience includes:
- Litigation support for a state government in dispute with a Native American Indian Tribe regarding the right to collect retail sales taxes and other real estate related taxes from activity at a commercial real estate development project on Indian lands. Provided trial testimony related to the expenditures and revenues of a developer and the roles and functions of a real estate owner and manager.
- Consultant to a $2 billion healthcare REIT through its transition from private entity to public listing and subsequent entity level transaction. Steered the evolution of key financial planning and analysis activities to align the company with best in class standards, comprising templates for quarterly and annual financial reporting, a forecasting model, and processes and tools for completion of annual budgets.
- Expert testimony regarding lost profits damages in support of the owner of an office property that was unable to lease space because of construction defects.
- Engaged by US-based private equity investor to review and improve a Mexico City-based construction and development company’s organizational structure, staffing, and policies and procedures. The initial phase of work included revisions to the company’s organizational structure, roles and responsibilities of key staff, procedures related to key development activities, and the provision of a project reporting system to standardize processes and controls through the project lifecycle.
- Retained to evaluate a California-based retail real estate investment company’s organizational structure, staffing capabilities, and systems and processes for asset management and financial reporting. Provided an analytical comparison of the entity to best in class standards of successful real estate investment companies and developed a road map that included an organizational framework, recruitment plan, technology strategy, and reporting tools to support future growth.
- Support for a national residential appraisal company in a dispute relating to an allegation of systematic appraisal fraud. Scope of work included an evaluation of the subject valuations and appraisal methodology, and the preparation of materials for expert witness reports and testimony.
- Consideration of alternate locations for operations staff of an international engineering company. Scope of work included a nationwide filtering of locations based on key criteria of labor cost and availability, infrastructure, quality of life, and other economic, social, and environmental characteristics. Prepared a total cost model to assess the costs and benefits of alternate locations and staffing structures and supported the company as it executed the transition to a new site.
- Developed expert testimony in support of a real estate private equity fund being sued in relation to losses incurred by investors. Analysis of the fund’s governance, operations, and performance successfully demonstrated that losses were the result of severe market dislocation rather than company wrongdoing.
- Conducted a review of corporate real estate and facilities for a not-for-profit healthcare system. Through interviews, inspections, review of policies and procedures, and benchmarking of key performance metrics, identified and presented potential cost saving opportunities.
- Provided support related to the restructuring and emergence from bankruptcy of a major retail REIT. The services included a detailed analysis of each asset’s underlying risks to cash flow and capacity to continue to service debt and overall liquidity trends in the real estate capital markets.
- Economic impact assessment for a shopping mall REIT in support of a major redevelopment and expansion of a downtown retail property, including analysis of economic impacts and benefits of the proposal.
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