Richard Ellis, the global property services firm, has hired former Probitas Partners head of Europe, Robin Hubbard, to strengthen its real estate finance business in London. The firm expects to grow the business further in the coming years as its clients demand “investment bank” services.
Hubbard joins as an executive director of its real estate finance team. In a statement today, CBRE said the appointment came as a direct response to increasing demand from its clients for fund structuring and equity placement services.
Hubbard has been hired for his background in credit and debt advisory, in corporate restructuring and loan recovery. He will work alongside Philip Cropper who currently heads he real estate finance team in London.
Cropper said in the statement: “In the current climate, it is vital to bridge the gap between real estate owners, operators, managers and the providers of capital, be that debt, mezzanine or equity.”
He said: “As capital has become such a highly constrained resource, our clients are increasingly demanding expert advice not just on the underlying real estate assets but the kind of advice historically provided by investment banks.”
CBRE has recently aligned with REAM Capital Partners, a specialist debt and asset management group established by former property banker and loan workout specialist John Taylor. Taylor previously worked for Citigroup and Merrill Lynch.