CBRE to launch Capital Markets Healthcare and Retirement Living team
CBRE to launch Capital Markets Healthcare & Retirement Living team
| 6 December 2016
In a recruitment coup, three of Australia’s leading healthcare and retirement living professionals have joined CBRE to form a new Capital Markets division.
Philip Smith, Shane Nicholson and George Koumoukelis have been recruited from Colliers International to launch the Capital Markets Healthcare & Retirement Living team.
CBRE’s Pacific President & CEO, Ray Pittman, said the appointments delivered instant scale and national reach in the fast growing healthcare and retirement living sector.
“The new team will work in tandem with our existing Valuation & Advisory Services professionals focused on the Healthcare & Retirement sector, providing obvious synergies and a force multiplier effect for both businesses,” Mr Pittman said.
“We envisage significant opportunities ahead, in line with the growth that has occurred in the U.S., where Healthcare & Retirement Living is one of our biggest businesses.”
The specialist team will be led by Mr Smith in a National Director role, based in Brisbane, with Mr Nicholson taking on a Director role based in Sydney.
Together they bring extensive industry experience from both Australia and the UK, with Philip having led the Colliers Healthcare & Retirement Living division for the past 5 ½ years. During this time, the team has been recognised as the clear market leader, with involvement in over $1.5bn of seniors living and healthcare related transactions.
We have also recruited George Koumoukelis, who is joining us as in a Senior Negotiator in the Sydney office.
CBRE Executive Managing Director, Capital Markets, Bruce Baker said the formation of this team was also particularly timely in light of the unprecedented changes forecast for the Australian aged care sector as a result of recently announced Federal Government expenditure cuts.
“These changes are expected to provide the catalyst for industry consolidation and higher transaction volumes in the coming years,” Mr Baker said.
“Appointing Philip, Shane and George positions us to be at the forefront of these changes and also aligns with our strategy to strengthen our overall Capital Markets platform.” Mr Baker added; “Healthcare specific property is globally recognised as a very attractive investment grade asset class and we are seeing significant interest in this sector from the major Pacific REIT’s and wholesale funds. Combining our expertise in this sector with our very broad Capital Markets reach will position us to provide a market leading service to our institutional investor clients.”
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