The former Managing Director of Build to Rent operator Dandara Living, Paul Borrmann, has joined single-family rental (SFR) Build to Rent management specialist – Ascend Properties – as its new Managing Director, to spearhead the company’s further growth.
In his new role, Paul will lead the strategic expansion of Ascend’s Build to Rent operator capabilities, building on its position as the leading provider of SFR lettings and management services.
“The level of institutional capital currently targeting SFR, presents an enormous opportunity for Ascend, which has an unrivalled understanding of how to manage these homes. I have seen first-hand just how important effective lettings and property management is to the success of any Build to Rent portfolio, and that makes this an exciting time to be joining Ascend as it looks to expand the range of clients benefitting from its considerable capabilities.”Paul Borrmann, Managing Director, Ascend Properties
Paul has worked in the residential property sector for 16 years. Since 2014, he specifically specialised in institutional PRS and Build to Rent. During his time at Dandara Living, Paul oversaw the development of an operational platform that designed, launched and stabilised a c. 3,000 home Build to Rent portfolio while also working on a 5,000 home pipeline.
Prior to joining Dandara Living, Paul was Head of Northern Lettings at Grainger plc where he launched the company’s northern PRS and Build to Rent operation.
“Paul’s experience of all aspects of Build to Rent makes him the ideal person to lead Ascend as it seeks to capitalise on the opportunities presented by SFR and its unique position as the manager of choice for the sector’s leading platforms.
“Ascend plays a pivotal role in Gatehouse’s full-service investment management offer, and we look forward to the continued growth and success of the firm under Paul’s stewardship.”Paul Stockwell, Group Managing Director of Gatehouse Build to Rent Group
Ascend oversees more than 7,000 SFR homes nationwide – around two thirds of the entire current UK asset class. The company has developed proprietary technology and SFR-specific management tools and processes to establish itself as the foremost operator in the rapidly growing asset class.
Ascend’s services play a key role in the success of many leading SFR platforms – with investor clients including PRS REIT plc, TPG Real Estate Partners, Sigma Capital Group and the Kuwait Investment Authority. Gatehouse has held a majority stake in the company since 2018 and acquired the business outright earlier this year.