Woodbridge Capital is growing, opening a new Sydney office, expanding its executive team and setting its sights on national growth.
The Melbourne-based investment manager and non-bank lender has appointed Sydney-based Ben Evans as executive director, originations (pictured above right). He will lead from the firm's new office in Sydney’s central business district on Bligh Street, as the company accelerates its expansion into one of the country’s key growth markets.
"Sydney borrowers want partners who understand the market, move quickly and deliver with certainty,” said Andrew Torrington (pictured above left), co-founder, managing director and chief investment officer at Woodbridge, who is based in Melbourne. “With Ben now leading our group origination efforts, we’re positioned to do significantly more deals in the city, and to do them well.”
Evans comes with roughly two decades in Australia's finance and property sectors, including stints at National Australia Bank (NAB), Pepper Money, JLL and Metrics Credit Partners.
"Ben is a dealmaker in every sense," Torrington said. "Highly respected, deeply connected and focused on delivering for borrowers. His appointment marks a step-change in our origination capability, and we're excited about what we'll achieve together."
Woodbridge Capital, which works across Australia and New Zealand, works in property finance, real estate investment, development and construction. The firm has deployed and managed more than $5 billion worth of loans in the last decade.
Expansion plans come as market momentum continues to grow thanks to lower interest rates and a competitive lending environment. At the same time, modest growth in construction and increased government spending have left some market players optimistic about the future.
Meanwhile, Sydney is back in the growth spotlight, with median home prices in the city's Eastern Suburbs and Northern beaches topping $3.8 million.
"High-end Sydney markets are seeing a flood of new buyer activity following this year’s interest rate cuts,” said Ray White Chief Economist Nerida Conisbee.
And despite ongoing supply constraints and planning red tape in Sydney, Iman Asadi, director of lending at Sydney-based non-bank lender Maxiron Capital, told Australian Broker that Western Sydney presents "major opportunities, driven by developments, such as the upcoming Western Sydney International Airport."
