The group, co-founded by brothers Michael and John Chow, unveiled Stonewood Capital last night. The division has been launched to provide an alternative to bank funding for developments by the Stonewood Homes franchisees and licensees, said John Chow. "We are personally investing our own money into Stonewood Capital, amounting to 10 per cent of the vehicle. "Property development works best with flexible capital, and funding Stonewood Homes developments through Stonewood Capital will enable residential project construction to move fast to meet the underlying demand," he said. John Chow said Stonewood Capital's residential ambition was only the start and that there were further plans for a commercial arm.

Source: New Zealand Herald November 19, 2020 19:49 UTC