Top Australian Real Estate Actors are Denita Wawn, Phil Pearce, David Harrison, Peter Allen, Ming Long
2. Phil Pearce
The Asian logistics platform ESR caused a stir when it entered the Australian market in 2017. Pearce, a former AMP Capital executive, later led the Goodman Group operations in China. Over the next four years, agreement after agreement, ESR emerged as the number one industrial owner.
But it wasn’t until this year that Pearce-led ESR truly solidified its stature, sealing the country’s largest direct project deal with its $ 3.8 billion acquisition of Blackstone’s Milestone logistics portfolio.
Just as the registration agreement itself was transformative for the local branch of ESR, so much so it marked a historic change for the world of commercial real estate. The high yield from the operation meant that the warehouses were now more valued than the top-notch CBD office towers.
3. David Harrison
With $ 52 billion in real estate funds under management, the Charter Hall platform rivals Goodman in terms of scale. It’s a model that has been in the making for 30 years, more than half of which has been under Harrison’s tutelage.
The driving force behind Charter Hall’s impressive expansion is its relentless appetite for transactions, supported by its ability to secure mandates from some of the world’s largest institutions.
There are few major business real estate opportunities that Harrison, who is also chairman of the Real Estate Board, is not aware of or has not considered.
As a result, it is his invisible but ubiquitous judgment that has become one of the foremost price and performance arbiter in Australia’s commercial real estate industry.
4. Peter Allen
Allen joined Westfield three and a half decades ago, becoming one of Sir Frank Lowy’s most capable lieutenants. But nothing in Allen’s long service could have prepared him for the coronavirus carnage of the past 18 months.
As the rent war escalated and with little room for maneuver, Scentre Group CEO Allen came out on top. He was happy enough to relieve small tenants, but when the big chains stopped paying their dues, Allen fought back, locking out several big brands.
It was a risky move that paid off and the dispute was resolved within 10 days. Allen’s refusal to wave the white flag solved an immediate problem and ruled a line for years to come.
5. Ming Long
After many years in senior management positions at Investa Property Group, Long had carved out a distinguished career on the Board of Directors. But it was her role as president of AMP Capital Funds Management that set her on the path of a growing storm when disgruntled investors in the $ 5 billion AMP Capital Diversified Property Fund wanted withdraw.
In April, an independent committee of the board chaired by Long recommended the âleaveâ proposal – to merge with a fund managed by Dexus – rather than stay with AMP Capital. A major decision in itself, it could have longer-term repercussions, with AMP Capital losing one of its trophy assets even as it pursues its split-off project.
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