GMAC Commercial Mortgage Europe has appointed Steve Machin as vice president of the UK real estate finance team, based in Norfolk House, St. James Square.
Machin, who joins GMAC-CM Europe from RBS Structured Property Finance, will report to Kevin Cooper, managing director, UK Real Estate Finance.
His appointment closely follows the recruitment by GMAC-CM Europe of the ABN European lending team, which is led by managing director Andrew Haines, working with director Sam Mellor and assistant director Bob Reid.
Machin, Haines and original GMAC-CM Europe UK business founders, Cooper and senior vice president and director Martin Wheeler, have all worked together previously.
Cooper says: “It is an exciting time for both employees and clients of GMAC-CM Europe. We have a solid foundation of market success to build from, a growth mandate from our board and a team of high-performing individuals who have all worked together successfully in the past.”
GMAC-CM does not offer lending and investing targets, however, Cooper adds: “Given market conditions we would be disappointed if the joint UK and European platforms did not provide at least 3bn of debt and equity financings in 2006.”
GMAC-CM has been operating in the UK for four years providing real estate capital globally. Thus far in 2005, GMACCM Europe has provided more than 12bn of real estate financing.
GMAC-CM is the European presence of GMAC Commercial Holding Corp, a financial services resource for the global commercial real estate industry with more than 100 offices worldwide.