VIDEO INSIGHTS: Andrew Schwartz speaks at the AFR’s Property Summit

16 September 2025

Our Group Managing Director and Co-Founder, Andrew Schwartz recently sat down for a conversation with Cosima Marriner at The Australian Financial Review’s Property Summit held in Sydney.

It was a far-ranging discussion which included the dynamics driving the property and credit cycles, the differences between an institutional manager versus one focused on retail high-net-worth capital, the impending ASIC review into private markets, increased competition and the importance of borrowers doing their due diligence on their lender.

Some key highlights from the event are below.

The credit cycle versus the property cycle

There are different dynamics driving the property and credit cycles – watch for more on what happens when the two cycles intersect.

Not all private credit firms are the same

There are varying levels of sophistication in Australia’s private credit market and it’s important that investors understand that not all firms are the same.

Private credit is here to stay

Private credit’s share of Australia’s commercial real estate (CRE) financing market has grown significantly – representing a permanent structural change in Australia’s CRE financing landscape.

Borrowers must do due diligence on their lenders

With an increasing number of alternative lenders in the market, it’s important for borrowers to be questioning their lender’s source of capital and ensure they have financial capacity to support the project through the facility term.

Disclosure

This communication has been prepared by Qualitas Securities Pty Ltd (ACN 136 451 128) (Qualitas Securities), holder of Australian Financial Services Licence number 342242. Qualitas Securities and its related bodies corporate and affiliates constitute the Qualitas group (Qualitas).

The information contained herein is for informational purposes only and does not constitute an offer to issue or arrange to issue financial products. The information contained herein is not financial product advice. This document has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision, you should read the publicly available information carefully and consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is not an indicator of future performance.

No member of Qualitas gives any guarantee or assurance as to the performance or the repayment of capital. All data in this document has been calculated using the most accurate sources available, however any rates or totals manually calculated may differ from those shown due to rounding. Figures may also differ from those previously disclosed due to adjustments made following period end.

VIDEO INSIGHTS: Andrew Schwartz speaks at the AFR’s Property Summit

INSIGHTS: The capital stack unpacked