ASX-listed $8.9 billion asset manager MA Financial Group has strengthened its property team with the appointment of Anthony O’Hea in the role of managing director of principal investments, real estate.
O’Hea will focus on sourcing accommodation assets for purchase as MA Financial seeks to grow its exposure to the asset class to more than $1 billion.
He has over 20 years’ experience within accommodation hotel investment and corporate finance, and joins from Toga Group, where he was the group’s chief investment officer for the last 10 years.
He was also a non-executive director and investment committee member of TFE Hotels, Toga Group’s hotel operating, development and investment joint venture with Singapore’s Far East Orchard Ltd, a venture which he was instrumental in establishing.
“We’re thrilled Anthony has joined our real estate team. His knowledge and experience will allow us to quickly capitalise on opportunities as they emerge,” MA Financial’s Joint CEO Julian Biggins said.
“Hotels are becoming increasingly attractive investments as pricing re-rates due to an uncertain trading outlook. In some cases, the current asset pricing represents significant discounts to replacement values,” he added.
O’Hea said he was excited to join the firm.
“I’ve had a long association with the hotel investment class and am a firm believer that, when done right, it offers the potential for compelling risk-adjusted returns.
“A key part of the equation is entry price, and we’re excited about the opportunities emerging in a market where assets are becoming cheaper but where, more than ever, effectively underwriting an investment requires a deep understanding of the sector; we think we’re well placed to do this,” said O’Hea.
