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Jessica Darnbrough
Pepper Australia, a non-bank lender, has announced that it will acquire Grant Samuel Holdings’ real estate advisory business, Grant Samuel Property.
The deal will see Pepper acquire all of the share capital of Grant Samuel Property Pty Limited.
Following completion of the sale, the company will be renamed Pepper Property Group.
Announcing the deal this morning, Pepper’s chief executive officer, Patrick Tuttle, said the acquisition was “highly strategic” and heralds the lender’s formal entry into the commercial real estate sector.
“The Grant Samuel Property team led by Christian McKelvey and Greg Smith are the leading independent property advisors to the Australian corporate real estate market so we’re delighted with their decision to join the Pepper Group.”
Pepper’s executive chairman Mike Culhane said the acquisition further extends the lender’s long-held strategy to build a diversified, global financial services business.
“Our core focus is on three key disciplines across the residential and commercial property sectors, namely lending, advisory and asset management (including third-party servicing),” he said.
The business will be rebranded “Pepper Property” effective immediately and will continue to service major client groups throughout Australia, in addition to resourcing Europe and Asia via Pepper’s existing network of offices in London and Singapore.
“This business provides Pepper with immediate access to the commercial property market arena where we can leverage our capital raising platform, credit, loan servicing and securitisation expertise, to deliver integrated property solutions whilst maintaining a truly independent CRE platform,” Mr Tuttle said.
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