This article is from the Australian Property Journal archive
GLOBAL commercial real estate finance firm Trimont Real Estate Advisors promoted two executives in Sydney and hired new associates to take advantage of the growth in non-bank lending in the Asia Pacific region, which is estimated to be worth US$56 billion.
The Atlanta, USA headquartered company boasts eight offices.
In the Sydney office the company has promoted Rebecca Percossi, from managing director to senior managing director, APAC; and Esther Ang, head of facility agency to managing director, credit & asset management, APAC.
At the same time, Trimont has appointed Florence Nunu and Myra Mengyuan Zhang as senior associates.
Global CEO Brian Ward said Trimont has experienced unprecedented success in the APAC region over the past 24 months.
Trimont’s growth comes as appetite for non-bank lending in APAC grows. Although the market is still in its infancy, demand is outstripping supply.
According to the Alternative Credit Council, the young market is worth around US$56 billion compared to Europe and United States’ US$386 billion and US$1,250 billion, respectively.
At the same time, banks represent 75% of all real estate lending in Asia versus 20% in the US and 50% in Europe.
A report by data firm Acuris found 82% of firms say they will seek financing from non-bank lenders in the year ahead.
“From day one, our goal in the Sydney office was to further establish global connectivity, which we’ve been able to do successfully thanks to strong leadership at the helm.
“We’re extremely proud of Rebecca and Esther and all our APAC team, including our new hires who will undoubtedly help take us to the next level and contribute to the overall health and growth of the business,” Ward said.
The new senior associates, Nunu and Mengyuan Zhang are supporting credit & asset Managers with monitoring and prompting borrower compliance with covenants, evaluating and processing borrower consent requests, real-time assessment of risk profiles of real estate loans in the assigned portfolio, monitoring of interest billing and collection, and client reporting.
“We are delighted to welcome Florence and Myra to our team in Sydney and celebrate the overall expansion of our company in the Asia-Pacific,” said Percossi. “After a year of unprecedented challenges, we hope to continue our growth and remain a committed and trusting source to our clients.”
Trimont is the world’s largest rated Construction Loan Servicer and has more than US$550 billion in asset values managed in 64 countries, over its 30-year history.