Pepper Australia has acquired Grant Samuel Property, the retail advisory arm of Grant Samuel Holdings Limited, in a bid to strengthen its commercial offering.
Pepper will own all of Grant Samuel Property’s share capital, and rename it Pepper Property Group Pty Limited, or Pepper Property, effective immediately.
“This is a highly strategic acquisition for Pepper,” said Pepper’s CEO Patrick Tuttle.
“[They] 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,” he said.
Pepper chairman Mike Culhane also confirmed the move was a very strategic one.
“This acquisition further extends Pepper’s long-held strategy to build a diversified, global financial services business with a core focus on three key disciplines across the residential and commercial property sectors, namely lending, advisory and asset management,” he said.
Tuttle is anticipating Grant Samuel Property will provide “access to the commercial property market arena where we can leverage our capital raising platform, credit, loan servicing and securitisation expertise,” he said.