The landscape for development finance is undergoing some of its greatest changes in modern times as more non-bank lenders enter the market and specialisation becomes ever more diverse.
It is that evolution of development finance that prompted ACS Financial to take a step in a new direction when David Stephens joined the team.
Stephens, who has had a long career in the finance world, beginning when he joined one of the Big Four banks in his teens, has brought a level of expertise not easily replicated and with one sector firmly as his focus: commercial property loans.
And, he said, he is one of only a small number of brokers working exclusively in that sector, meaning he can bring his experience, expertise and connections to bear in a very focused way.
“There’s a lot of competition in terms of brokers out there,” Stephens told The Urban Developer.
“However, my experience is that there’s not a lot of brokers who specialise in the commercial space.
“They tend to be generalist and try to be all things to all people, so are looking at home loans, plant and equipment, and more.
“I'm not doing any of that, no home loans, no equipment or the like.
“If I have a business owner who needs working capital or that sort of thing, I’ve got the experience to do that.
“But my primary focus is on the property piece, be that commercial investment property, owner-occupied business premises, property development, land acquisition or land subdivision.”
Stephens said his 35-plus years in finance was not the only experience he brought to the role.
“Brokers tend to be from a variety backgrounds, not even necessarily finance,” he said.
“Prior to this role, I’ve worked for the lenders, banks, and cash-flow
specialist lenders and private lenders in the construction field—finance has very much been my career.
“But I have also been a developer—I did my own small development which helped me to really understand that side of it more fully.
“I feel I have all bases covered from previously working with lenders and knowing what the lenders are looking for and what their appetite is.
“My development was not all smooth sailing, so I learnt from that, some of the little tricks along the way to look out for.
“And I am also an active property investor, so I have that perspective in my toolbox as it were too.”
For clients, being able to find finance options from one source meant savings in time, stress and, ultimately money, Stephens said.
“I’ve got access to upwards of 30 lenders in the commercial space,” he said.
“I've got accreditation with all the majors, all the second-tier banks and access to non-bank lenders and private lenders.
“Unless the deal just isn’t do-able, I can match a client’s specific needs to lenders that suit.
“And that is another advantage to being a specialist. Because my focus is so narrow, I understand the nuances of commercial finance and not only what lenders are looking for in a borrower but what my clients truly need.
“I am totally impartial with putting forward solutions to my clients. I am very much in their corner, and their corner alone, on the deals."
Stephens said that a long time ago he had been told the secret to a good marketing strategy was care.
“I absolutely agree with that, and for any business it is true,” he said.
“We want to create relationships with our clients that extend way beyond one deal. The more you work with someone, the better you can help them achieve their goals.
“You can only do that through care—caring about the client, caring about the end result, caring about finding the best deal for them.”
The Urban Developer is proud to partner with ACS Financial to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.
