Greystar Asia-Pac, the 50:50 joint venture platform established between Macquarie Capital and Greystar Real Estate Partners to facilitate the US multifamily operator’s foray into Asia, has appointed two key executives for its expansion.
Chris Key will take on the role of managing director for Australia, as it builds its rental housing strategy in Asia. Key has over 16 years of experience in real estate funds management, investment banking and corporate advisory. He was most recently JLL’s head of corporate finance for Asia Pacific, and has previously worked with Macquarie Capital, Goldman Sachs and AMP.
The firm also confirmed the appointment of Charles Ma as managing director for Greater China. Before joining Greystar Asia-Pac, Ma was the managing director and head of strategic investments and business development for Vanke China, one of the largest property developers in China.
“We’re excited to have Charles and Chris join our team as we expand our rental housing expertise and platform into China and Australia,” said Bob Faith, founder and chief executive officer of Greystar. “Charles and Chris bring a wealth of experience across a range of disciplines, which combined with their knowledge of their respective markets, will be valuable to the growth of our business in the region.”
With these appointments, Greystar is now left with filling up the leadership position in Japan. PERE had reported earlier that the firm plans to recruit three managing directors, each responsible for one of its target markets, in Asia Pacific, namely China, Japan and Australia. The venture aims to raise institutional capital to acquire, develop, reposition and manage rental residential assets initially in Tokyo, Beijing, Shanghai, Sydney and Melbourne.