Brett S. Lake, MAI, a senior vice president with Newmark Knight Frank’s Valuation & Advisory Financial Reporting Group, is based in the firm’s New Jersey office. Mr. Lake is focused on meeting the consulting and valuation requirements of clients as prescribed by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB). By employing the NKF V&A platform in close alignment with NKF’s capital markets team, Mr. Lake brings the necessary knowledge and resources to effectively navigate complex financial, accounting, tax, regulatory and legal issues.
Mr. Lake has successfully completed valuation and consulting assignments for a wide range of uses, including office, retail, mixed-use, hotel and resort, multifamily, industrial, research and development, flex self-storage, power plants and redevelopment. He has performed engagements for both individual properties and portfolios, and his work has been used in connection with financial reporting and tax purposes, fair value analysis, acquisition underwriting, due diligence, litigation support and internal planning. In addition, he has valued joint venture partial interests in support of tax filings for minority interest in family trusts and family partnerships.
Mr. Lake has also assisted public and private clients in the application of Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 805 Business Combinations. In this capacity, he has assisted clients in identifying and measuring both tangible and intangible components of real property at fair value, under the rules prescribed in FASB ASC Topic 820 Fair Value Measurements.
Additionally, Mr. Lake has advised public and private clients in assessing the fair value of acquired real estate in conjunction with goodwill impairment, acquisitions and bankruptcy financial reporting requirements. Lastly, Mr. Lake’s experience includes buy-side advisory and due diligence, audit support related to fair value issues and model valuation, fair value analyses of commercial real estate debt, historical financial statements analyses, market and feasibility studies, lease-by lease analyses of multi-tenant properties, discounted cash flow analyses, real estate platform valuations, lease auditing, lease abstracting, and closing proration reviews.
Over the course of his career, Mr. Lake has successfully served a wide range of clients, including REITs, private equity firms, real estate investment companies, financial institutions, insurance companies, corporations, accounting firms, law firms, public utilities, municipalities and individuals.
Mr. Lake joined Newmark Knight Frank in 2018, after more than 13 years with FTI Consulting, a global business advisory firm. As a senior director, Mr. Lake was a key leader in the firm’s real estate solutions practice, where he focused on valuation and acquisition due diligence.
Licenses and Designations
- MAI designated member, Appraisal Institute
- Certified general real estate appraiser, states of Colorado, New Jersey and New York
Mr. Lake earned a Master of Business Administration degree from Vanderbilt University’s Owen Graduate School of Management and a Bachelor of Science degree in finance from Rutgers University.