Andy Balzan joins Pepper Property
May 17, 2018.
Leading commercial real estate financier Andy Balzan has joined Pepper Property, a division of the Pepper Group, to lead the group’s efforts in driving further it large scale commercial real estate loan platform.
Following a 33 year career at NAB, with his last position as General Manager Property and Diversified Industrials, Mr Balzan joins as Divisional Director of Capital Solutions with a key focus on development finance a product he observes is becoming more difficult to obtain from the major banks as their appetite in this space continues to wane.
Pepper Property has been a leader in occupier and project advisory for over 25 years in Australia and has expanded its platform offering to the provision of debt and equity solutions across all real estate sectors.
Nick Jacobson, Group Head of Pepper Property said “We are delighted with the appointment of Andy, who has an outstanding track record in Australian commercial property lending.
“He will boost Pepper’s best in class third party large loan management and servicing and advisory capabilities to continue to provide an end to end first mortgage platform capitalised by highly credible, institutional non-bank lenders,” he added
Pepper identifies areas of the market that are under-served by traditional lenders and provides a genuine alternative for professional commercial real estate investors and developers.
Mr Balzan said “there are significant opportunities for Pepper to build relationships with investors and developers and become an active long term financier in the commercial property sector and a meaningful alternative to the major banks and non-bank property lenders.
“The fundamentals in most sectors of the commercial property sector are good, with strong levels of liquidity, continuing growth in the economy and improving confidence. It is a very good time for Pepper to be expanding its platform in the Australian property finance market”, he added.
Pepper Property currently provides large stretch senior development finance and term loans from $50 million to $300 million and has an outstanding track record assisting developers and investors in this space.
In 2017 Pepper originated a $280 million stretch senior construction facility of behalf of a third party lender, to facilitate the delivery of the Infinity by Crown development in Green Square, Sydney.
The provision of funding on a peak debt basis was a structure unavailable through traditional senior debt providers and provided Crown with a cost effective funding solution for the delivery of the project.
Pepper Property’s expanded commercial real estate platform aims to provide a range of commercial property finance products, including first mortgage loans of $10 million to $30 million to developers in the mid-cap market as well as flexible term and bridging loans for income producing value add and shorter WALE commercial assets throughout major Australian cities and metropolitan markets.
Mr Balzan said “Pepper Property’s first mortgage platform will look to take advantage of an identified gap in the market, whereby traditional lenders have reduced appetite for term debt and very few non-banks are able to provide debt at competitive rates.”
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