Ascend hires former Dandara managing director

Paul Borrmann brings 16 years of experience to the lettings and property management firm, where he will lead the expansion of the company’s build-to-rent operations.

Bormann has joined Ascend Properties’ Manchester headquarters as managing director, following a five-year managerial stint at Dandara Living, the BTR arm of Dandara Group.

During his time at Dandara, Bormann oversaw the development of an operational platform that designed and launched a 3,000-home multifamily portfolio while also working on a 5,000-home pipeline.

Before joining Dandara, Bormann launched the northern public rented sector and BTR operation for Grainger in his position as head of Northern lettings.

Bormann has also held positions at DEU Estates and Linley and Simpson, having specialised in PRS and BTR since 2014.

In his new role leading Ascend’s build-to-rent capabilities, Bormann’s work will be key in developing the firm’s position as the leading provider of single-family rental lettings and management. At present, the company oversees more than 7,000 SRF homes nationwide.

Borrmann 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.”

Bormann’s appointment follows Gatehouse Bank’s acquisition of Ascend earlier this year, in an effort to expand its reach into the BTR sector.

Paul Stockwell, group managing director of Gatehouse Build to Rent Group, said: “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.”