About Us.

Our Story

Where we started

Silverfin was established in 2016 by experienced syndicator Cheryl Macaulay. Cheryl was the former owner and managing director of Commercial Investment Properties Limited, which amalgamated with syndicator KCL Property and was later acquired by listed company Augusta Capital.

Sadly, in August 2018 Cheryl passed away. However, the executive team, led by the Chief Executive Officer Miles Brown, are committed to continuing the strong track record Cheryl established and the legacy she left. Silverfin now has circa $570m of commercial property assets under management in New Zealand and Australia and is continuing to grow its portfolio.

At Silverfin we pride ourselves on our investor first culture and believe we have set a new standard in the property investment industry by enhancing solid investment strategy with a truly personable approach. Transparency

 with our investors is of upmost importance and we take great satisfaction in ensuring investors are kept up to date with the latest developments of their investment. We have an open-door policy at our central Auckland office and regularly host investor coffee catchups which allows the team to get to know our investors on a personal level.

Silverfin focuses on having one of the fairest fee structures in the property syndication industry. We maintain small business ideals with big business vision and capability. Outside our initial set-up fees, we have an annual management fee that reflects the property’s gross asset value. We also earn an exit fee only if the average annual return on termination of a scheme exceeds a pre-set threshold. Our fee structure means we profit when you profit.

Our Beliefs.
Our Values.
Your Guarantees.

Silverfin Capital

What we do

Silverfin Capital Limited is a business specialising in property syndication and management, licensed by the Financial Markets Authority (FMA). You can view our license here. Our schemes are structured to provide investors with a cash return from commercial and industrial real estate, without the burdens of private property ownership.

The directors and senior management team of Silverfin have considerable property expertise in property development, facilities and asset management, property investment, business administration and accounting. Silverfin currently manages a wide range of retail, office and industrial properties valued at over $570 million, including single ownership entities and syndicates.

Property Syndication Process

Property syndication involves the proportional ownership of commercial property. At a high level, the process in syndicating a property is as follows:

1.
Silverfin will identify a property to acquire that has the correct investment attributes in terms of tenant covenant, lease term, build quality, location and industry sector.

2.
We obtain debt funding from one of the major trading banks, utilising our experience to obtain the best possible interest rates. The level of debt funding (or Loan to Value Ratio (LVR)) is typically between 40% to 50% of the purchase price.

3.
The remaining 50% to 60% of the purchase price, plus scheme costs, will be raised from our investors through the proportional ownership structure.

Silverfin typically creates units of $50,000 with investors able to purchase multiple units in any one scheme. For example, assuming $10 million of equity was required for the purchase of a commercial property, we would create 200 units of $50,000 and make these units available for our investors through a ‘syndication sell down’ process.

4.
Each investor in a scheme will become a ‘proportional owner’ of the property in that scheme. If you purchased one unit in the scheme in the example above, you would become 1/200th owner of that property. The property’s title will be held by a nominee company whose sole purpose is to hold the property on behalf of the owners.

5.
Once the property has settled and the scheme is operational, investors will receive a regular monthly distribution payment from Silverfin. The distribution payment is derived from the rent generated from the property less costs (such as interest and operating expenses).

The intention is that schemes will be medium to longer term investment vehicles. When the decision is made to terminate a scheme, the property will be sold with proceeds returned to investors, less costs and bank debt. The termination of a Scheme must be ratified by the passing either a special resolution of Investors (75% of voting interests) if the termination is within five years of commencement; or an ordinary resolution of Investors (50% of voting interests) if the termination is after five years of commencement.

Terms may change from scheme to scheme making it important to read each scheme’s documentation prior to investment.
Prior to the termination of a scheme individual units can be traded on the secondary market. We utilise the ‘Syndex’ platform for secondary sales, where units in existing schemes can be listed and bid on by other Syndex users (see section entitled ‘Syndex’ for further information or visit: www.syndex.exchange)

Experts

Meet Our Team

Miles Brown
Chief Executive Officer

BProp, University of Auckland, MBA (AGSM)

Q

Miles Brown

 Miles is an experienced property professional with a successful property career of 20 years with employment in multinational corporations in New Zealand, Asia and Europe. During this time he has developed a diverse range of skills from working in the property transaction, asset management, financial and sales fields across different cultures.

Prior to Silverfin, Miles spent 14 years at Kiwi Property Group Limited in several roles including Head of Transactions and General Manager of Commercial Portfolio as part of the key executive team reporting directly to the Chief Executive Officer of the $3 billion fund. Miles’ significant acquisitions for Kiwi Property include Apex Mega Centre, the ASB Centre at Wynyard Quarter, Zone 7, Westgate Town Centre and The Base, Te Rapa.

Miles holds a Bachelor of Property from The University of Auckland and a Master of Business Administration from the Australian Graduate School of Management.

Julian Koppens
Chief Financial Officer

LLB/BMS, CA, Waikato University

Q

Julian Koppens

Julian is a Chartered Accountant who began his career in business advisory at KPMG. He quickly became a director, advising a wide range of clients on all aspects of their business and managing their accounting and tax requirements. He moved to Australia in 2012 to lead the Australian and New Zealand finance team at Weight Watchers in Sydney before returning home.

Julian is a member of the Chartered Accountants of Australia and New Zealand, and has both a law degree and a degree in Management Studies, majoring in accounting from Waikato University.

Olivia Smith
Commercial Property Manager

BProp, University of Auckland

Q

Olivia Smith

Olivia joined the Silverfin team in 2021 as a Property Manager, reporting to Chief Executive Officer Miles Brown.

Since Olivia graduated with a Bachelor of Property in 2019, she has spent two years working for CBRE where she was part of their Global Workplace Solutions team working on the ANZ account. She was responsible for the ATM and carparking portfolios. In her time working closely with ANZ she has made great contributions towards lease management, refining and improving processes within her portfolios and financial management.

Yulena Brown
AML/CFT Investor Liaison

BA (Psychology), University of Auckland

Q

Yulena Brown

Yulena has worked in the property sector for 15 years in various companies involved in property development, finance and syndication. Yulena first began working as Executive Assistant to Cheryl Macaulay, founder of Silverfin, when Cheryl merged her previous company Commercial Investment Properties with KCL Property. Yulena then continued on as Cheryl’s assistant when Silverfin was established in 2016, a role which she held until early 2018.

In April 2018 Yulena decided to follow her passion for investor communications and was appointed as AML/CFT Investor Liaison on a part time basis. Her role involves working closely with investors regarding their investment applications, ensuring investor details remain current and that Silverfin operates within the Anti Money Laundering and Counter Financing of Terrorism Act legislative framework (AML/CFT).

Sam Tallott
Accountant

CA, BCom, BPhed, University of Otago

Q

Sam Tallott

Sam joined Silverfin in July 2020 as the team’s Accountant, reporting to Chief Financial Officer Julian Koppens. He began his career at Deloitte in Dunedin where he spent 2.5 years as part of the audit team. During his time at Deloitte, Sam worked on a diverse client portfolio in a range of industries including biotechnology, property, manufacturing and service.

Sam has a strong background in internal controls having completed several pieces of specialist advisory work in this space for a large listed managed investment funds company. Sam holds both a BCom (Accounting) and BPhed (Sports Management) from the University of Otago. Sam recently completed his final CAANZ module and is now a Chartered Accountant.

Tyler Handcock
Marketing and Communications Manager

BCS (Mktg, Smst), University of Waikato

Q

Tyler Handcock

Tyler began her journey in the property industry immediately after graduating from Waikato University with her Bachelor of Communication Studies specialising in Marketing and Digital Media. In late 2019, she joined Silverfin Capital from our trusted partner Colliers International where she worked independently on property and project marketing for their leasing team.

As Marketing and Communications Manager at Silverfin, Tyler is responsible for leading and executing all syndication campaigns, developing and implementing a complete marketing and brand strategy for Silverfin and managing ongoing marketing requirements for existing properties in our diverse portfolio.

Jackie Fenton
Compliance Officer

BBus (CommMngmt, Mngmt), Massey University

Q

Jackie Fenton

Prior to joining Silverfin in 2017 Jackie was involved in special project work for a New Zealand owned import company. Jackie is part time at Silverfin and splits her time between Silverfin and the running of her and her husbands construction company.

As the compliance officer Jackie ensures that all requirements are met in relation to Silverfin’s Managed Investment Scheme License (MIS) with the Financial Markets Authority (FMA). In addition, Jackie is responsible for ensuring Silverfin operates within the Anti Money Laundering and Counter Financing of Terrorism Act legislative framework (AML/CFT).

Janet Manners

Executive Assistant

Q

Janet Manners

Janet joined Silverfin in early 2018 to provide administrative assistance to the Executive team. She is an experienced Executive Assistant and has worked in a number of service industries from finance to academia. She recently returned to Auckland after a period in Christchurch where she worked for CERA and Otakaro Limited – two of the government entities that were involved in the rebuild. Janet provides administration support to the office and can help you with any of your general enquiries.

Miles Brown
Chief Executive Officer

BProp, University of Auckland, MBA (AGSM)

Julian Koppens
Chief Financial Officer

LLB/BMS, CFA, Waikato University

Olivia Smith
Commercial Property Manager

BProp, University of Auckland

Sam Tallott
Accountant

BCom (Accounting) and BPhed (Sports Management), University of Otago

Yulena Brown
AML/CFT Investor Liaison

BA (Psychology), University of Auckland

Tyler Handcock
Marketing and Communications Manager

BCS (Mktg, Smst), University of Waikato

Jackie Fenton
Compliance Officer

BBus (CommMngmt, Mngmt), Massey University

Janet Manners

Executive Assistant

Meet Our Board

See Bio

Murray Cleverley

Chairman
Q

Murray Cleverley

Murray is a professional director having previously worked in a variety of roles within the health and business sectors. He is strongly community focussed and in 2014 he was awarded a Member of the New Zealand Order of Merit for his service to business and the community.

He is managing director of a consulting and management company providing governance services to business, and a Chartered Fellow of the Institute of Directors.

See Bio

Paul Macaulay

Director
Q

Paul Macaulay

Paul is the husband of the late Cheryl Macaulay and is the majority shareholder of Silverfin Capital Limited. Paul is a Non-independent Director and an experienced businessman who has owned and managed businesses in various industries from farming to tourism.  Paul has been involved in property syndication for many years acting as advisor and sounding board to Cheryl.  Paul will ensure Cheryls investors firstphilosophy continues to be front of mind for the Silverfin team.

See Bio

John Bishop

Director
Q

John Bishop

John is an independent director with extensive experience on a number of boards in the finance, insurance, logistics, education, sports and property industries. John was part of the executive management team of ASB Bank.

About Us

The Cheryl Macaulay Foundation

Cheryl Macaulay was the owner and managing director of Silverfin Capital Limited. She was an experienced syndicator who had forged a career in property and set up various syndication companies. She had a passion for property which she wanted to foster in others. Sadly, Cheryl passed away in August 2018 and now her family wish to honour her memory by encouraging others into the commercial property field. The Foundation has been formed to encourage young people into the property industry and to award scholarships that will assist them with their studies.

The Foundation has partnered with The University of Auckland to offer an annual $5,000 Scholarship to students enrolling in the first year of a BProp or BProp conjoint degree.  The successful candidate may also be eligible for a paid internship with Silverfin Capital Limited.

Preference for the scholarships will be given to students who demonstrate a degree of financial disadvantage that would otherwise render them less able to study towards a career in commercial property but for the financial aid provided by the scholarship.

For more information about the scholarship, please click here. 

Silverfin and the Macaulay family would also like the thank the below sponsors for their generous contribution to the Foundation. Because of their donations, Cheryl’s legacy can be passed on.

Crombie Lockwood insurance brokers – https://www.crombielockwood.co.nz/

Anderson Lloyd law firm – https://www.al.nz/

Thompson Blackie Biddles Lawyers – https://tbblegal.com/

Sonia & Gavin Smith

If you wish to contribute to, or find out more about the Cheryl Macaulay Foundation please get in contact with the Silverfin Team below via the form below.

Contact

Get in Touch

To find out more about Silverfin or to stay informed about their new offers, please fill out the below form.