HMC Private Credit has secured $1.35 billion in new commercial real estate lending mandates from investors in North America and Asia. It has now hired two senior property finance executives to put that capital to work on larger loans.
Steve Tokic (pictured left) joins as state director for New South Wales and the Australian Capital Territory, while John Bourboulas (pictured right) takes on the same role in Queensland. Both will hunt for bigger commercial property lending deals.
The offshore mandates expand the platform’s funding capacity, allowing it to pursue larger transactions that meet its credit criteria.
The hires come as parts of the commercial real estate private credit market face liquidity pressures. HMC Private Credit believes these conditions leave lenders with institutional backing well placed to win new business.
Strain has been building across property-linked private credit, with MA Financial last week suspending redemptions on its $2.3 billion real estate credit fund.
“We are focused on building greater institutional-grade origination capability as the business continues to grow,” said Matt Lancaster, chair of the HMC Capital Private Credit platform. “These appointments reflect that direction, bringing significant institutional lending experience that complements our already established platform.”
The pair bring experience across institutional banking, structured lending, and commercial real estate debt markets. The firm said this strengthens its ability to compete for larger financing deals.
Tokic built a senior career in institutional property banking at ANZ before most recently serving as managing director at Phoenix Property Investors.
Bourboulas brings more than 15 years in ANZ’s institutional property business, covering Queensland, Western Australia, and South Australia.
The firm said its governance framework is underpinned by a majority-independent board, with quarterly independent oversight from EY. A specialist team, including valuers, construction managers, and quantity surveyors, supports its credit assessments.
HMC Private Credit, formerly Payton Capital, is backed by HMC Capital, which is listed on the Australian Securities Exchange (ASX). It has offices in Melbourne, Sydney, Brisbane, and the Gold Coast. Over more than 14 years, it has deployed more than $8.5 billion in loans, and HMC Private Credit now manages over $2.3 billion in assets.
For brokers with commercial property clients, the expanded team and funding capacity point to another source of larger-scale non-bank finance.
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