Commercial property group JLL shutters local debt advisory unit
New York-listed commercial real estate giant JLL is closing its Australian and New Zealand debt advisory division, shifting its services to Singapore, Street Talk can reveal.
An email sent by NZ head of advisory Mark Farrands and NZ senior analyst Marcia Marshall, obtained by this column, detailed that both had departed the business to “pursue new opportunities”.
“JLL will no longer provide local debt advisory services in New Zealand or Australia,” the email said. “The service will remain available from Singapore.”
This column also understands JLL Australia debt and structured finance director Josh Erez, who worked Blackstone’s refinancing of its 85 Castlereagh St tower, anchored by JPMorgan, last year, has left the building, handing in his registration.
Before sighting the email Street Talk reached out to a JLL spokesperson, who downplayed the changes, saying: “Our Debt Advisory coverage for Australia and New Zealand has not changed.”
“Our regional platform based in Singapore has and will continue to play a major role in servicing our clients, complemented by our on-the-ground Capital Markets teams in Australia and New Zealand.”
The debt advisory side of JLL’s capital market business links large clients with debt products including fixed-rate, construction, acquisition and bridging loans. It also delivers advice on debt structuring, lender negotiations and financing strategies.
Many of the major real estate shops offer debt advisory services, including CBRE, Knight Frank, Colliers and Cushman & Wakefield. But the sector has seen a flood of new entrants and has low barriers to entry.
Farrands, who had been with JLL since 2022, will continue to provide debt consultancy services in New Zealand, independent of JLL. Before that, he was MaxCap Group’s chief investment officer in NZ.
