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Fast, flexible and experience-led
Central Real Capital, a boutique private lending business considered a genuine alternative to mainstream banks, takes pride in its approach to lending, describing it as fast, flexible and reliable.
“This is made possible thanks to our team’s breadth of experience across both property and finance,” says CEO David Stone.
The origins of Central Real Capital hail back to the lender’s founder, entrepreneurial businessman Tony Denny, returning from Eastern Europe following a successful career in the automotive industry.
“Tony spent 25 years in Eastern Europe establishing a motor vehicle distribution group that became one of the largest automotive dealership networks in the world. During his time at the helm, the company bought and sold over 1.5 million cars and had more than 4,000 employees across 40 sites in five countries,” says Stone.
After selling the company, Denny founded the internationally renowned Gosford Classic Car Museum (one of the largest privately owned car collections in the world) before returning to Australia.
Back in Australia, Denny invested funds in property development, specialising in medium-density residential developments. Investing over $400m in regional development gave Denny a front-row seat to the underlying frustrations borrowers frequently encountered when it came to bank funding.
Seeing the opportunity to provide a less-constrained and accelerated lending process, Denny founded Central Real Capital. He applied his mindset as a property developer to private lending, focusing on offering independent and innovative lending solutions for residential, commercial and development loans.
Spotlight
As a boutique private lending business, Central Real Capital offers fast and flexible debt solutions as an alternative to mainstream banks.
Central Real Capital prides itself on its commercial approach to lending criteria and a genuine speed to market as the ultimate decision-maker for all credit applications.
A privately funded lender, Central Real Capital is able to offer a customised loan that is faster and more flexible than those of big institutions, offering less-constrained and flexible lending criteria as the sole decision-maker. This is teamed with a collaborative approach throughout the life of the loan, with guidance from its experienced team.
Company Profile
>$300m
Commercial loans funded to date
$500,000
Minimum
loan size
24 mos
Maximum loan term
$20m
Maximum
loan size
75%
Maximum LVR
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Milestones
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Company Profile
Years of experience
20
tenure at current position
3 years
fast fact
Stone’s experience in leading
Central Real Capital into the future has been well aided by his extensive work history, which includes financing in excess of $2bn in mid-market real estate transactions over his banking career
David Stone
CEO at Central Real Capital
David Stone shares why he’s delighted to be the CEO of the boutique private lender providing innovative solutions to common developer-financing pain points
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“Our less-constrained credit processes, genuine speed to market and improved leverage all work to help our clients maintain a profitable project”
David Stone,
Central Real Capital
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Fast, flexible and experience-led
Spotlight
Years of experience
20
Tenure at current position
3 years
Fast Fact
Stone’s experience in leading Central Real Capital into the future has been well aided by his extensive work history, which includes financing in excess of $2bn in mid-market real estate transactions over his banking career
Karen Adams
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Central Real Capital has continued to grow and now has its home at new headquarters in Double Bay, NSW.
Stone says the lender's typical clients are property professionals and property developers who appreciate both improved leverage and better delivery times when it comes to obtaining finance.
“We’ve sought these clients from a dedicated group of commercial brokers that we have in-depth relationships with,” he explains.
Joining the Central Real family
So, how did Stone himself come to be part of the Central Real Capital team? His property journey began with a bachelor’s degree in interior design from the University of Technology Sydney (UTS), before shifting gears within the property sector.
“After I had finished my undergraduate degree, I began working at a large architectural firm. I found that this creative endeavour wasn’t always so creative, and my passion was centred around talking to clients and solving problems rather than design,” Stone says.
Fascinated by how many clients had built wealth via property, he decided to start working closely with his grandfather, who was a developer and also worked on a commission basis for a mortgage broking business.
“It was at this time I could see the strong link between development and finance,” Stone says.
When his first child was born, Stone made the move to a job with a more consistent source of income.
“I began my career in banking with the Commonwealth Bank, who supported me in my master's of property development at UTS. From there I moved into more senior property finance roles at St. George and ING,” he says.
Stone joined the Central Real Capital team in 2021, where he has been able to apply his knowledge and experience to his role as CEO.
“A recruiter reached out to me via LinkedIn to see if I had an appetite for a senior role in private lending. From there, I had a number of interviews with Tony in both Sydney and on the Central Coast, and I really wanted the job after hearing the vision.”
After a lengthy recruitment process, Stone was offered the CEO role, which he accepted on the spot.
“I was thrilled and haven’t looked back since. Tony is an inspiring leader and has given me the autonomy to build a market-leading team around me."
MPA Brokers on Non-Banks 2021 - Foreign Non-Residents
AMA 2021 Non-Bank of the Year Excellence Award
AMA 2021 Best Non-Major Bank BDM
David Stone,
Central Real Capital
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“Our less-constrained credit processes, genuine speed to market and improved leverage all work to help our clients maintain a profitable project”
“Tony [Central Real Capital’s founder] understood the frustrations with obtaining finance from his time as a property developer, and understood the opportunity that could be created with ‘common sense’ lending practices”
“Our less-constrained credit processes, genuine speed to market and improved leverage all work to help our clients maintain a profitable project”
Victoria, Australia
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Stone says there were a number of other reasons he accepted the CEO role.
“I had done my research on Tony and his entrepreneurial history and property development expertise, and I was convinced that he had the business acumen and balance sheet to execute on the vision.”
It also fit Stone's desire to change from corporate banking and provided the opportunity to work for a smaller and more nimble company.
Standing out from the crowd
While the competition is fierce, Stone says Central Real Capital’s attention to providing speed, flexibility and reliability is just one of the factors that gives the lender its competitive edge in the market.
“Our success is driven by our team of experienced property, finance and law specialists. Central Real Capital is 100% onshore, which is also a factor in our ability to guarantee genuine speed to market.
“Our reliability is afforded by our in-depth relationships with our commercial broker network. We’re also cognizant of our reputation in a very competitive
marketplace – we don't deliver term sheets unless we're going to deliver on them,” Stone says.
To date, Central Real Capital has funded over $300m in commercial property loans. As the company embarks on a period of further revenue-raising, Stone says it has focused on bedding down processes and procedures to ensure it is best in market before engaging with sophisticated investors, which the lender is now on track to do.
“Our proposition will differ in the market because it will be one investor per loan. They'll have unprecedented rights and controls when it comes to the vehicle they're investing in.
"Add to that conservative loan-to-value ratios and that Central Real Capital will be sitting beside them, and I believe this is something that's unique in the market,” says Stone.
Success sells
In the past few months alone, Central Real Capital has delivered equity loans enabling clients to move ahead with a multimillion-dollar residential redevelopment, refinance current debts to provide working capital, and purchase a substantial residential development – to name but a few projects.
Big picture, the non-bank lender’s future looks incredibly optimistic. In 2022, Central Real Capital engaged EY to look at leveraging its book to propel the company into an exciting time of growth.
“Central Real Capital navigates the capital stack predominantly with first and second mortgage lending opportunities. This year, we're looking to expand that into more preferred equity transactions, as well as ordinary equity transactions as the total package,” says Stone.
Add to that the lender's breadth of experience in property, and Stone says Central Real Capital can also look towards joint ventures with appropriate partners.
2021
2020
The beginning. Central Real Capital is born, with its head office located on NSW's Central Coast.
First loan. Central Real Capital writes its first commercial loan.
New office. Central Real Capital's head office relocates to Pallas House in Double Bay.
Funding. Central Real Capital eclipses $300m in funded loan facilities.
Opportunity. Central Real Capital engages EY to procure a $100m-plus warehousing facility.
Esse quam videri
– or 'to be, rather than to seem to be'
David Stone
“Tony [Central Real Capital’s founder] understood the frustrations with obtaining finance from his time as a property developer, and understood the opportunity that could be created with ‘common sense’ lending practices”
David Stone,
Central Real Capital
75%
Maximum LVR
24 mos
Maximum loan term
$20m
Maximum
loan size
$500,000
Minimum
loan size
$300m
Commercial loans funded to date
2022
2021
2020
2019
Funding. Central Real Capital eclipses $300m in funded loan facilities. Opportunity. Central Real Capital engages EY to procure a $100m-plus warehousing facility.
2022
New office. Central Real Capital's head office relocates to Pallas House in Double Bay.
2021
First loan. Central Real Capital writes its first commercial loan.
2020
The beginning. Central Real Capital is born, with its head office located on NSW's Central Coast
2019
Milestones
Esse quam videri
– or 'to be, rather than to seem to be'
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