Remaining stake to be acquired by end of 2029
National commercial finance brokerage Simplicity Loans & Advisory is selling a 70% stake in the business to Mortgage Choice-owner REA Group.
REA Group intends to buy the remaining 30% interest by the end of 2029.
REA Group chief executive of financial services and Mortgage Choice, Anthony Waldron, said: “The volume of commercial loans settled by brokers in Australia has increased significantly in recent years. By extending beyond residential lending into the fast-growing commercial lending market, we will accelerate our commercial finance strategy while adding new capabilities and revenue streams.
Simplicity will continue to operate under its current brand and structure, led by managing directors Jean-Pierre Gortan (pictured) and Matthew Johnson.
Gortan said: “We’ve built our business by helping clients navigate complex transactions with confidence. Partnering with REA gives us the scale, reach and technology to accelerate nationally and cement Simplicity as the most trusted commercial broker in Australia.”
Johnson added: “REA is the natural fit for us with many of our existing clients in the property and construction sector. We look forward to working closely with Anthony and the REA team to drive Simplicity’s future growth.”
More to come
