Simplicity Loans & Advisory settled more than $2 billion in the financial year 2024, with its managing director settling $1 billion in the year.
Commercial brokerage Simplicity Loans & Advisory has announced that it has achieved a record of settling $2 billion in loan settlements in a single financial year.
The brokerage – headed up by joint managing directors and brokers Jean-Pierre (JP) Gortan and Matthew Johnson – revealed it had surpassed its previous annual record of $1.35 billion in FY24, partly due to a strong settlement year from the broker principal and partly due to the brokerage harnessing technology to work more efficiently.
Gortan – who was named Commercial Broker of the Year 2023 at the Australian Broking Awards 2023 – also marked a personal milestone of settling $1 billion during FY24.
The $1 billion consisted of a mix of different financing types. Approximately 25 per cent were construction loans, 60 per cent were term loans for future developments and stabilised investments, and the remaining balance involved trading businesses.
It included a “complex” $258 million transaction in the year. The aged care deal involved four separate lenders, three operational centres, and two developments – one future and one currently under construction.
