It’s uncharted territory for PeerStreet’s new CREO.
Property investment firm PeerStreet has today announced the appointment of John Devereux as its new chief real estate officer, or CREO, to be based in its Los Angeles headquarters.
PeerStreet says that Devereux will be responsible for “strategic oversight and management” of the loans offered on the platform for investment, including business development, account management, servicing and portfolio management. He brings more than 28 years of experience in real estate equity and debt, including six years as head of commercial real estate at OneWest Bank and nine years as principal at Colony Capital.
“Following our Series B funding, PeerStreet has entered a new state of expansion and deepening our reach within the industry.” said Brew Johnson, CEO of PeerStreet. “John has unparalleled experience and is an industry leader at what he does; we are extremely pleased to have him on board.”
Backed by Andreessen Horowitz, the firm hopes to use Devereux’s past experience to aid PeerStreet’s continued scaling efforts, and further expand the real estate debt investment opportunities available on the platform. The hire comes after PeerStreet recently closed a $29.5m Series B, as well as $900m in loans funded.
“The high-energy culture and the calibre of talent at PeerStreet attracted me to the business and the more I dig into the company and its mission, the more I find the business to be extremely compelling,” said Devereux. “My experience and skills are a great fit at this stage of the company's evolution, and I look forward to applying them here.”
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.