Morgan mccandless, relationship manager at Assetz Capital, a market lending platform behind secured lending, reveals he joined Assetz in June this year, after working on the Northern Ireland portfolio as a consultant, before the outbreak of COVID.
As Relationship Manager spanning Northern Ireland, he was primarily responsible for representing the Assetz Capital brand, “managing the current loan portfolio while identifying opportunities to further develop the clientele of high quality SME borrowers”.
Morgan recently said that for as long as he can remember he was interested in the real estate industry, “having gone straight from college to real estate banking.”
A global financial crash later, in which he worked on the borrower side for 8 years, he then returned to what he enjoys most, which is “helping finance real estate investment projects and development for experienced customers ”.
He also noted that he enjoyed spending time on site with the borrower and “somehow helping to deliver a tangible product, something meaningful.”
He also mentioned that he has been involved in funding development initiatives for a number of years through NI and that he “will often move on projects that have been long completed, now mature and busy – which is quite rewarding. “.
He further noted that he focuses on “administrative management (with overwhelming support from a very efficient relationship support team), client / agent meetings and site visits across NI. He added that it is “essential to be visible and accessible, and to be on the road to stay in touch with the market; most clients also like the opportunity to have their funder come on site to show off their work.
“The impact of the pandemic on all sectors cannot be underestimated and coupled with Brexit, it clearly had the potential to be instantly damaging to NI’s real estate market in particular. However, looking back, the advent of CBILS was absolutely necessary to absorb the shock of the pandemic and has been the dominant theme for the past 12 months. “
Morgan also mentioned that it appears to have been “a welcome move that instilled confidence when it was needed most.” It offered borrowers the opportunity to continue “to operate, while introducing much needed support to the local economy, whether through contractors, agents, lawyers and QS, who were also beneficiaries. indirect ”.
He also shared that customers “just want to get back to business as usual and leave the pandemic behind.”
He confirmed that Assetz is now accredited under the Recovery Loan Scheme and “is once again helping borrowers in the NI market by stepping up their efforts to provide much needed financing in a market where traditional lenders are not performing their traditional function.” .
He also noted that CBILS was “welcome and necessary – even though it was before my time started with Assetz – so I missed all the fun”. He pointed out that the NI market rebound has been impressive and that “contrary to what one might expect, the residential market has been reinvigorated to some extent by supporting government initiatives.”
He also said it was “encouraging to see the apparent level of demand for family homes at realistic and sustainable prices in most NI – presumably motivated to some extent by those who intend to work more at home. home and therefore live in a more rural setting, with more space, a better work / life balance and where value for money can be hard to ignore.
Morgan added that Assetz is a fairly small, tight-knit team “that makes a big impact.”
Morgan further revealed:
“I have a few offers at different stages; the acquisition of a hotel site with a project of 200 rooms in an extremely privileged and historic location; a multi-phase residential development project that would provide more than 200 housing units; and a mixed-use business investment anchored by a UK national, located in one of NI’s premium business parks.
“Although these are progressing, they may never reach the withdrawal stage, which is just the reality of loans. However, each of them is an opportunity for us to do our best and reflects Assetz’s renewed appetite to consider larger real estate transactions, in solid locations for quality developers.