Los Angeles-headquartered real estate firm CBRE has bolstered its capital advisors team in Australia with the appointment of Martin Priestley, who joins from investment group Moss Capital.
Priestley has been tasked with launching a debt origination and loan servicing business in the Asia-Pacific region, the firm said in a statement. He joins CBRE's Capital Advisors team, the same capital raising team led by the Asia Pacific executive director Nick Crockett since he joined CBRE from rival Jones Lang LaSalle last year.
He currently holds directorship, committee and board member positions at a number of real estate development and fund management groups including BB Retail Capital Funds Management, Timpetra Resources and Ord Minnett.
CBRE's Asia-Pacific chief executive and chairman Rob Blain, said the appointment represented the next evolution for the firm’s capital advisors business, which launched in the region early last year.
“We have already made significant inroads, assisting our clients with executing investment strategies and sourcing capital, in the form of both equity and debt,” Blain said in the statement.
“Martin’s recruitment signals the extension of this offering to incorporate all forms of secured and unsecured debt origination and loan servicing in line with the highly successful platforms operated by our real estate finance groups in the US and EMEA.”
Last year, CBRE's US and EMEA financing teams originated around $26.9 billion in debt. By the year end, those teams managed about $134 billion in loans.
Crockett said; “Recruiting an executive of Martin’s calibre is a testament to the scope that exists for CBRE to develop a significant presence in this market segment in Asia Pacific. Martin will work closely with our existing U.S. and EMEA teams, providing our clients with a truly global debt origination and loan servicing platform and capabilities.”
Priestley and Crockett are former colleagues, having worked together at Australian commercial real estate finance house Ashe Morgan Winthrop, where Priestley was managing director and latterly chief executive.
Priestley has also worked for BankWest.