Macquarie Property expands in WA

02 February 2005

Macquarie Property has expanded its team in Western Australia with the addition of local property professionals, Tim Jones and Scott Nugent. The Macquarie Property Finance business will now be complemented by investment banking and retail asset management skills.

Mr Jones has been appointed to head the Macquarie Property Investment Banking team, joining the business from Cape Bouvard Investments Pty Ltd where he spent the last 14 years involved in the expansion of its property portfolio throughout Australia. Mr Nugent has joined as Retail Asset Manager for the Macquarie Asset Services business from Lend Lease Corporation where he was managing property developments and assets for nine years.  He will be responsible for Macquarie CountryWide Trust’s assets in Western and South Australia.

Western Australia is a major growth state with an active local property market. Macquarie’s property finance business has been successfully operating since 1997 and Macquarie is now looking forward to increasing its presence and participation in direct property investments and developments in WA.

Macquarie Property has a number of significant partnerships and projects in WA, including the provision and arrangement of development finance for the redevelopment of the old Raffles Hotel site into 116 riverfront luxury apartments with a total project value of $142 million and landmark projects such as the residential canal developments at Port Bouvard and Port Geographe.

Macquarie Property is a market leader in Australia in wholesale investment management, capital raising, debt/transaction structuring, major project financing, property developments and asset disposals. Macquarie Property‘s listed property trusts and its associates have assets in WA totalling more than $241 million across the office, retail and industrial property sectors.

Steven Papadopoulos
Head of Development Funds Management
Macquarie Property
Tel: (612) 8232 3333

Robyn Turner
Senior Communications Manager
Macquarie Banking and Property Group
Tel: (612) 8232 6989

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