Paul Borrmann Appointed as New Managing Director Of Ascend Properties

Former Dandara Living MD joins leading single-family BTR management specialist

Ascend Properties, the UK’s largest lettings and property manager of institutional single-family build-to-rent (SFR) homes, has appointed Paul Borrmann as its new Managing Director to spearhead its further growth.

Paul was previously Managing Director of Dandara Living, the BTR arm of Dandara Group, during which time he oversaw the development of an operational platform that designed, launched and stabilised a c. 3,000 home multifamily portfolio while also working on a 5,000 home pipeline. He has worked in the residential property sector for 16 years, specifically specialising in institutional PRS and BTR since 2014; prior to joining Dandara Living, Paul launched the northern PRS and BTR operation for Grainger plc in his position as Head of Northern Lettings.

In his new role, Paul will lead the strategic expansion of Ascend’s BTR operator capabilities, building on its position as the leading provider of SFR lettings and management services. Ascend oversees more than 7,000 SFR homes nationwide, around two thirds of the entire current UK asset class.

Since focusing on the sector, Ascend has developed proprietary technology and SFR-specific management tools and processes to establish itself as the foremost operator in the rapidly-growing asset class. Its 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 Ascend since 2018 and acquired the business outright earlier this year.

Paul Borrmann, Managing Director of Ascend Properties, said: 

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 BTR 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 Stockwell, Group Managing Director of Gatehouse Build to Rent Group, added: 

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.