Helping property developers chart a course to success

Lenders are a bit like lighthouses when it comes to the world of property development – guiding ships through treacherous waters, illuminating potential hazards and providing a beacon of hope in stormy seas. Just as a lighthouse gains its strength and unwavering presence from years of weathering storms and guiding vessels, development and construction finance specialist Vincent Capital has built its reputation through lending over $2 billion on residential developments since 2017. As the New Zealand property market faces its most significant challenges in years, the lending team at Vincent Capital are adapting their strategies, leveraging their diverse experiences and working tirelessly to ensure their clients’ projects don’t run aground. Their stories offer a unique glimpse into the world of property finance, where personal passion meets professional expertise in the face of market adversity.

One of three senior lending managers at the helm of Vincent Capital’s lending team, Edward Leuschke has a keen eye for market trends and a passion for helping developers realise their visions. With over 15 years of experience across New Zealand, Australia and the UK, Leuschke brings a global perspective to local challenges. “Vincent Capital can provide development loans ranging from less than $1 million to more than $100 million, with all decisions made quickly in our Auckland office and presales not always required,” says Leuschke. This agility sets Vincent Capital apart in a market where many lenders require offshore approval for large development deals. Leuschke’s pride in the company’s unique position is evident: “Few lenders in NZ can fund a large development deal without offshore approval,” he says. For Leuschke, the joy of his work comes from more than just closing deals. “The opportunity to fund profitable development projects for entrepreneurial developers throughout New Zealand” is what drives him, he explains. It’s this personal investment in his clients’ success that makes him more than just a lender – he’s a partner in their journey. Leuschke’s approach is hands-on and pragmatic. “We don’t need to wait for a valuation and can often waive a QS report, which saves the client some costs and means we can provide a committed loan offer quickly,” he says, highlighting the company’s commitment to efficiency and client service.

This hands-on approach has proven invaluable as the market faces headwinds. “The New Zealand property market is at the bottom [of a cycle], and the recovery process may take long time, which will make it very challenging for our clients over the next year or so,” Long says. Despite these challenges, Long remains committed to his clients’ success. “I can always be relied upon to assist my clients to complete their projects and am glad to see them successful in the real estate business,” he says. This dedication to client success is a common thread among the Vincent Capital team.

This empathy extends to the current market challenges. “The downturn in the property market has no doubt brought serious challenges to our borrowers and hence ourselves,” Chen acknowledges. However, he sees these challenges as opportunities for growth and innovation. “We are meeting them by working closely with our clients and are engaged early in the process to provide [clients] with resources when required to help them with sales and/or refinances,” he explains.

If there is a first mate in this scenario, it is Danny Chen, a lending manager with a background in banking. With seven years of experience in the banking sector across both corporate and personal banking, he brings a fresh perspective to the team. His approach to navigating the changing market landscape is methodical and forward-thinking. Danny outlines how he has adjusted by using a three-pronged strategy: enhancing risk management to improve risk assessment processes; providing enhanced monitoring and support to address potential project issues early on with project management assistance or financial planning advice; and expanding digital capabilities to offer more efficient and transparent services to clients.

Spotlight

Michael Long, another senior lending manager, brings a wealth of construction experience to his role at Vincent Capital. With over a decade in the Auckland property and construction industry, Long has been involved in many significant property transactions and has successfully arranged well over $1 billion worth of property development finance for projects across New Zealand. For Long, each project is a new voyage with its own unique challenges and rewards. “Dealing with different clients and projects, facing opportunities and challenges all the time and learning new knowledge always makes it very exciting every day,” says Long. Long’s background in construction gives him a unique perspective, allowing him to see beyond the numbers to the practical realities of each project. “My experience of development and construction could help my clients with hands-on and practical solutions, and provides them with full-perspective views,” he explains.

Vincent Capital is a specialised property finance company based in Auckland, dedicated to providing innovative and flexible funding solutions to property developers and builders. With a strong focus on supporting residential construction projects throughout New Zealand, Vincent Capital offers a range of financing options tailored to meet the unique needs of each client. Known for its expertise, personalised service and commitment to finding solutions for its clients, Vincent Capital is a trusted partner in driving growth and success within New Zealand’s property market.

Company Profile

$4.5bn

Total value of developments funded

$2bn

Amount loaned since 2017

3,300+

No. of terraces and houses funded

500+

No. of apartments funded

270+

No. of sections funded

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“We will still be taking a prudent approach in the approval process and carefully managing the loan during its course to ensure neither the client nor ourselves are overexposed”

Henry Chen, Vincent Capital

Karen Adams

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Karen Adams

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Navigating rough seas

Surfing the waves of market change

Published 26 Aug 2024

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Being picked to lead ORDE's distribution team

career highlight

3 years

tenure at current position

Years of experience

Edward Leuschke

Michael Long

Henry Chen

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As New Zealand’s property market navigates choppy waters, Vincent Capital’s lending team share insights on adapting to changing tides and steering developers towards calmer seas

BDMs in the spotlight

IN PARTNERSHIP WITH

Michael Long Senior lending manager

Successfully arranging over $1 billion of property development finance

Career highlight

Edward Leuschke Senior lending manager

Helping my broker partners deliver a range of development loans for their clients

Career highlight

Henry Chen Senior lending manager

Funding 250+ projects worth a total of over $600 million in the last four years

Career highlight

Lending team managers

His background in banking has equipped Danny with a unique skill set. “My extensive experience at the Bank of China has provided me with a deep understanding of the local Chinese clients, including their financial habits and needs,” he explains. This cultural insight proves invaluable in New Zealand’s diverse property market. Danny’s commitment to exceptional customer service, backed by his kind demeanour, fosters enduring client relationships built on trust and reliability. “This background, combined with my strong analytical skills and an eye for risk management, enables me to offer unique insights and solutions that significantly benefit our clients,” he adds.

Vincent Capital

Danny Chen Lending manager

Winning Bank of China Group’s Top BOCer award for great performance in 2021

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Authors

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Terms & Conditions

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“Vincent Capital can provide development loans ranging from less than $1 million to more than $100 million, with all decisions made quickly in our Auckland office and presales not always required”

Edward Leuschke, Vincent Capital

“I can always be relied upon to assist my clients to complete their projects and am glad to see them successful in the real estate business”

Michael Long, Vincent Capital

“The team is made up of experienced professionals, and the company’s dedication to continuous improvement aligns with my values”

Danny Chen, Vincent Capital

Illuminating the path with the right advice

Charting a new course when needed

As the market shifts, so too must the strategies employed by lenders. Henry Chen, a senior lending manager with a background in small-scale development, emphasises the importance of adaptability. Since migrating to New Zealand in 2001, Chen has worked in residential construction, property development and property finance, which has given him a comprehensive understanding of the industry. For Chen, this work is more than just a job – it’s a passion. “My passion [is] for the property market, and my desire is to help developers successfully deliver quality housing products,” he says. Chen’s personal experience as a developer allows him to empathise with his clients’ challenges. “I was a small-scale developer and project manager myself prior to 2016, so I can relate to the challenges our clients face and how best to work with them to meet their requirements.”

Despite the current turbulence, the team at Vincent Capital remain optimistic about the future, buoyed by the amount of loan enquiries generated after the company’s announcement of a $300 million new warehouse funding arrangement with Goldman Sachs. Leuschke sees opportunities on the horizon: “I’m looking forward to seeing some more buoyancy in the Auckland residential property market. Brokers can come to us if their developer clients want a funding solution that will allow their clients to commence construction earlier without having to wait for presales,” he says. This optimism is shared by his colleagues. For Henry Chen, the reward comes from seeing projects through to completion and “seeing projects successfully being completed and sold so everybody wins – developers, homebuyers and ourselves”.

Spotting calmer waters ahead

Danny Chen

Even so, the team remain realistic about the challenges ahead. “I think the property market has bottomed out, but it might take a while for values to start to go up again … developers are still facing difficult market conditions,” Henry observes. He advocates for a balanced approach: “As a result, we will still be taking a prudent approach in the approval process and carefully managing the loan during its course to ensure neither the client nor ourselves are overexposed. In the meantime, we will also work hard to develop new opportunities so we can take advantage of the next upswing in market conditions.”

One of the key strengths of the Vincent Capital team is their aptitude for using fintech to supply fair, fast and flexible property finance. Another is their deep understanding of local property markets around New Zealand. Leuschke emphasises the importance of this granular knowledge. “It’s important to understand the product that the developer is wanting to deliver relative to the specific location. This involves a more granular assessment than just looking at, say, the ‘South Auckland market’ or the ‘Christchurch market’. Different suburbs have their own nuances,” he explains. This insight allows the team to provide more accurate and valuable advice to their clients, helping them navigate the complexities of different submarkets within New Zealand’s property landscape. Despite their diverse backgrounds and experiences, the Vincent Capital team are united by a shared commitment to professionalism, ethics and client success. As Henry Chen puts it, “The company’s value of being professional and ethical really aligns with my own moral values.” This alignment of personal and company values creates a strong, cohesive team who work together effectively to support their clients. Danny echoes this sentiment: “Vincent Capital is a great fit for me due to its innovative and collaborative culture. The team is made up of experienced professionals, and the company’s dedication to continuous improvement aligns with my values.”

Importance of local knowledge and shared values

As New Zealand’s property market continues to navigate challenging waters, the team at Vincent Capital stand ready to guide developers towards calmer seas. Their diverse experiences, adaptable strategies and unwavering commitment to client success make them not just lenders but true partners in the journey of property development. In the end, it’s this partnership – this shared voyage – that defines the Vincent Capital difference. As any seasoned sailor knows, it’s not just about weathering the storm but about emerging stronger on the other side. And with Vincent Capital as their guiding light in tough conditions, developers can face the future with confidence, knowing they have a skilled and dedicated team helping to chart their course.

Looking to the future

2017

2021

2022

2023

2024

Vincent Capital is officially founded, offering fast, fair and flexible property lending solutions in New Zealand

2017

Vincent Securities launches new Builder Loan product alongside Bank of China

2021

Vincent Capital commits $900,000 to educational charities, emphasising the importance of supporting New Zealand’s future through education

2022

Vincent Capital exceeds $2 billion lent to property developments around New Zealand

2023

Vincent Capital secures funding line with Goldman Sachs for development and construction lending throughout New Zealand

2024

Milestones

2017

2021

2022

2023

2024

Vincent Capital is officially founded, offering fast, fair and flexible property lending solutions in New Zealand

2017

Vincent Securities launches new Builder Loan product alongside Bank of China

2021

Vincent Capital commits $900,000 to educational charities, emphasising the importance of supporting New Zealand’s future through education

2022

Vincent Capital exceeds $2 billion lent to property developments around New Zealand

2023

Vincent Capital secures funding line with Goldman Sachs for development and construction lending throughout New Zealand

2024

Milestones

2017

2021

2022

2023

2024

Vincent Capital is officially founded, offering fast, fair and flexible property lending solutions in New Zealand

2017

Vincent Securities launches new Builder Loan product alongside Bank of China

2021

Vincent Capital commits $900,000 to educational charities, emphasising the importance of supporting New Zealand’s future through education

2022

Vincent Capital exceeds $2 billion lent to property developments around New Zealand

2023

Vincent Capital secures funding line with Goldman Sachs for development and construction lending throughout New Zealand

2024

Milestones

Edward Leuschke

Michael Long

Henry Chen

Three recent additions to the firm’s partnership discuss the different things that drive their burgeoning legal careers and the opportunities they enjoy

Danny Chen Lending manager

Winning Bank of China Group’s Top BOCer award for great performance in 2021

Career highlight

Michael Long Senior lending manager

Successfully arranging over $1 billion of property development finance

Career highlight

Edward Leuschke Senior lending manager

Helping my broker partners deliver a range of development loans for their clients

Career highlight

Henry Chen Senior lending manager

Funding 250+ projects worth a total of over $600 million in the last four years

Career highlight

Lending team managers