CBRE launches new Capital Markets business line

Three 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 in CBR.

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.

George Koumoukelis will take the role of Senior Negotiator, based in Sydney.

CBRE’s Pacific president, Ray Pittman, (pictured above) said the new team will work in tandem with the existing Valuation & Advisory Services professionals focused on the Healthcare & Retirement sector. 

“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,” he said.

Bruce Baker, CBRE executive managing director, Capital Markets,  aid 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,” he said. 

“Appointing Philip, Shane and George positions us to be at the forefront of these changes.

"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."

Several senior directors of CBRE quit the estate agency late November.