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The short-term secured asset lender has opened a new office in South Yarra and hired a new director to continue the group’s property and construction funding expansion.
Assetline Capital, a Sydney-based lender specialising in bridging finance, development finance and other forms of short-term secured lending, has announced that it is opening a new office in Melbourne as it continues to expand its operations.
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The new office, based in South Yarra, will be headed up by property development specialist Andrew Vamvakaris, who joined Assetline this month as director of the Victorian branch.
Mr Vamvakaris has more than 20 years’ experience working in a range of executive and leadership roles in property development, asset advisory and portfolio management.
He was most recently executive director of Premium Advisory Real Estate and is a Certified Practising Valuer with the Australian Property Institute, a member of the Planning Institute of Australia, and holds degrees in property economics and urban planning.
Speaking of the new office and Victorian director, Assetline director George Khoury commented: “We are very excited to be bringing Andrew on board to drive business for the group in Victoria.
“We have been active in Melbourne since our inception in 2012 and have a solid base of borrower and broker relationships.
“Andrew is the ideal person to leverage this foothold to further grow and expand our presence.
“We see Melbourne as an important strategic market, and this is the first step in our expansion into Vic.”
Mr Vamvakaris added: “Assetline’s ability to provide flexible non-bank lending alternatives to asset-rich borrowers and established property developers in its core lending range of $1 million to $40 million offers an important alternative to those seeking a solution outside of the major banks.
“They’ve already placed over $1.3 billion of loans since establishing in 2012 largely off the back of activity in Sydney, so it’s fantastic to be able to spearhead the group’s drive in the Melbourne market.”
He continued: “Of all the non-bank lenders that I considered joining, the opportunity at Assetline stood out – the group has very broad expertise, an institutional-quality back office and deep funding capability.
“Importantly, the leadership team is experienced, commercial and ambitious to grow.”
[Related: Short-term lender launches construction funding division]
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