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.

027 421 2581

julian@silverfin.nz

See Bio

Julian Koppens
Chief Financial Officer

LLB/BMS, CFA, 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.

Jamie Smith
Property Manager

BProp, University of Auckland

Q

Jamie Smith

Prior to joining Silverfin in 2023, Jamie spent time as a Commercial Property Manager at NAI Harcourts and Crown Asia Pacific.

Jamie has a Bachelor of Property from the University of Auckland and manages the Silverfin portfolio alongside Olivia Smith, reporting to Chief Executive Officer Miles Brown.

Zavier Anderson
Property Manager

BCom/BProp, University of Auckland

Q

Zavier Anderson

Zavier recently completed a BCom/BProp conjoint degree, majoring in Property, Commercial Law and Marketing. Zavier has thoroughly enjoyed the property aspect of his degree and joined the Silverfin team part-time to assist the property management team with tasks such as health and safety and facility management, and transitioned into a full time property manager in January 2024.

Molly Macaulay
Compliance Officer
Q

Molly Macaulay

Molly relocated to Temuka (her hometown) in 2018 after the family lost Cheryl, returning to her roots to heal and regroup,  where she worked for Temuka Transport in a Container Processing & Dispatching role.

Having given birth to her first child, Macie Cheryl in December 2022 she was looking for a new challenge when returning to work after maternity leave. Molly had always admired the amazing achievements her mother had made in her business career, therefore, was very excited to be offered the position of Compliance Officer in the company that Cheryl herself had created and was so passionate about.

Although a new role for Molly she is committed and extremely grateful for the opportunity to grow and develop her passion for the commercial property field.

Alexandra Brown
AML/CFT Analyst & Investor Relations Manager

BCom (International Business and Management), University of Auckland

Q

Alexandra Brown

Alex joined the Silverfin team in 2023 as an AML/CFT Analyst & Investor Relations Manager reporting to Vedant Desai (CFO).

Since Alex graduated with a Bachelor of Commerce in 2021, she spent two years working for First AML where she held roles as both an AML Analyst and a Customer Success Manager. Initially she was responsible for conducting customer due diligence on behalf of reporting entities and was later responsible for maintaining the relationships between First AML and their customers.

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.

Naziyeh Fayaz
Accountant

BCom, University of Auckland, GradDipCA (CAANZ)

Q

Naziyeh Fayaz

Naz joined Silverfin Capital’s finance team in April 2023. She is a qualified Chartered Accountant and has a background in external auditing with her experience covering a wide range of industries such as not-for-profits, real estate, manufacturing and retail entities (both listed and unlisted)”

Eita Lokotui

Accounts Administrator

Q

Eita Lokotui

Eita joined the Silverfin team in 2022 as Accounts Administrator, reporting to Chief Financial Officer Vedant Desai. Eita is experienced in accounts administration having worked across a number of industries.

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

Prop, University of Auckland, MBA (AGSM)

Julian Koppens
Chief Financial Officer

LLB/BMS, CFA, Waikato University

Jamie Smith
Property Manager

BProp, University of Auckland

Zavier Anderson
Property Manager

BCom/BProp, University of Auckland

Alexandra Brown
AML/CFT Analyst & Investor Relations Manager

BCom (International Business and Management), University of Auckland

Molly Macaulay
Compliance Officer
Tyler Handcock
Marketing and Communications Manager

BCS (Mktg, Smst), University of Waikato

Naziyeh Fayaz
Accountant

BCom, University of Auckland, GradDipCA (CAANZ)

Eita Lokotui

Accounts Administrator

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.