STAMFORD Capital has opened an office in Adelaide as part of its national expansion and appointed Adam Miller as a director.
Miller brings over 20 years’ experience in the commercial property sector spanning valuation, asset management and banking, he has held a range of senior roles at financial intuitions such as Bank SA (a division of Westpac) and the National Australia Bank.
He has had extensive experience in the origination and management of a range of investment and development transactions. In his banking roles, Miller was responsible for managing a portfolio of the bank’s major property development and investment exposures of approximately $500 million.
“We see a lot of untapped potential in the South Australian market and are delighted to have Adam on board to spearhead our expansion into Adelaide,” Stamford Capital managing director Domenic Lo Surdo said.
“Stamford Capital’s expansion into South Australia is a logical step to differentiate us in a market which has historically been dominated by generalist commercial finance brokers. Credit appetites for property investment and development funding of major lenders continues to wane, providing us with further opportunities,” he added.
Formed in 2010, Stamford now has 15 staff in Brisbane and Adelaide and it is planning to open a new Melbourne office this year.
“The business has been dynamic and nimble responding to changing market conditions since we first started. Initially we were sourcing finance predominantly for high-net worth individuals but as market and banking conditions have both changed considerably, we are now securing finance for high-profile developers and large organisations,” Lo Surdo said. “Credit in Australia is becoming tight and we are expecting the demand for non-bank finance to only become stronger over the medium term, as banking regulations place further constraints on borrowers. We have found we are also dealing in an increasingly global market – not just in terms of our client base, but also in sourcing credit.”
Australian Property Journal
