CBRE launch local build-to-rent committee
CBRE has launched an Australian build-to-rent committee to service the emerging sector of the market.
It will be led by CBRE’s director of development valuations and advisory, Jozef Dickinson whose committee will provide valuation and advisory work, research, development feasibility and site identification services.
Joining Dickinson in CBRE’s Australian ruild-to-rent committee are Ken Smith, Simon Cowley, Ben Martin-Henry, Kate Heaney, Ashley Kerfoot, Josh Rutman and Simone Lutz.
The committee will be supported by CBRE’s US-based multifamily expert Colleen Pentland Lally, executive managing director of investor services Mark Granter and national director of institutional valuations Stephen Thomas.
Granter said the establishment of a dedicated committee highlighted the firm’s commitment to diversify into new growth areas.
The launch of this committee follows a successful nine-day build-to-rent campaign undertaken by Pentland Lally across Australia last year.
CBRE has a multifamily business in several major international markets – completing US$24 billion worth of transactions in the US, £$2.4 billion in the UK and €$1 billion in Germany, in 2017.
Last year in the US, multifamily assets accounted for 32% (US$150 billion) of total commercial property investment in the US – making it the most popular asset class.
