PeerStreet, an award-winning platform for investing in real estate backed loans, today announced the appointment of John Devereux as chief real estate officer. He will be based in the firm’s headquarters in Los Angeles.
As PeerStreet’s chief real estate officer, Mr. Devereaux will be responsible for strategic oversight and management of the loans offered for investment on the platform. His purview will include business development, account management, underwriting, servicing and portfolio management. His past experience in building fast growing businesses will be very valuable as PeerStreet continues to scale efficiently and further expand the real estate debt investment offerings available on the platform. Mr. Devereux’s real estate background in both debt and equity combined with his vast operational experience will also add to PeerStreet’s embedded institutional knowledge and further the firm’s long-term business objectives.
“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.”
Mr. Devereux brings more than 28 years of real estate equity and debt experience including six years as EVP, head of commercial real estate at OneWest Bank and nine years as principal at Colony Capital. Early on at OneWest Bank, he was instrumental in growing the commercial real estate holdings from less than $500 million to more than $6 billion in less than a year. In this role, he started and managed several groups: special assets, portfolio management and bridge lending. The CRE Bridge Lending Group originated more than $1 billion annually in floating rate debt. At Colony, Mr. Devereux managed a portfolio valued at more than $1 billion of U.S. office, retail, multi-family and hospitality investments, and was responsible for identifying, evaluating and consummating commercial real estate joint-venture investments. Devereux graduated from Stanford University with a mechanical engineering degree and holds an MBA from UCLA.
“The high-energy culture and the caliber 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,” Mr. Devereux said. “My experience and skills are a great fit at this stage of the company’s evolution, and I look forward to applying them here.”