CB Richard Ellis has hired a retirement property team head as institutional investor demand picks up.
Property manager CB Richard Ellis (CBRE) has hired Phil Smith to head its retirement housing and healthcare transactions team.
The appointment further strengthened CBRE's capabilities in the sector, which was increasingly on the radar of major institutional investors, CBRE chief executive Tom Southern said.
"Phil has extensive expertise in this area, including experience in structuring deals and establishing joint ventures for healthcare-related assets and businesses," Southern said.
In the job, Smith will drive the national development of projects in the healthcare and retirement market.
He has 15 years' experience in real estate in Australia and the United Kingdom, and has previously worked for Norddeutsche Landesbank and UK-based St Andrews Healthcare.
The team now includes 13 people in Australia and New Zealand who are responsible for valuation, advisory and transaction services.
Tower's Jim Minto explains why the insurer opposes further consolidation, especially if it reduces the choice of insurance products on a platform.... Watch»
