In the world of apartment development, where numbers, permits, and projections often take centre stage, it's easy to forget the quiet force that drives long-term success: relationships. For leading non-bank lender and equity partner MaxCap Group, relationships aren’t just a nice-to-have — they’re the foundation of every deal, project, and partnership.“Relationships and partnerships aren’t just buzzwords in our business; they are the fundamental building blocks that are the key to long-term success,” says Simon Hulett, Head of Direct Investment at MaxCap Group.

“Partner selection is the most important decision we make. Especially when you're talking about equity joint ventures — at the top of the capital stack —you need to be partnering with the best of the best.”

In particular, equity partnerships require an alignment of interests that goes far beyond the numbers. “Equity joint ventures mean sharing a very similar risk-return profile to our partners,” Hulett explains. “That alignment takes multiple shapes — each partnership is entirely bespoke.”

MaxCap Group predominantly operates in the mid-market segment aligning itself to the top end of the private developers around the country, working with established teams who bring proven expertise in their product and geography. Hulett highlights the value of developers who “know their knitting and stick to it,” especially in a volatile development environment shaped by sticky inflation, and fluctuating construction and finance costs.

But it’s not just about financial alignment. According to Hulett, both tangible and intangible elements underpin every partnership. On the tangible side, MaxCap Group tailors financial structuring to the specific needs of each project, ensuring their partners are genuinely heard. “It’s about structuring partnerships in a way that works for them—not a one-size-fits-all model.”

What’s perhaps even more crucial, says Hulett, is cultural alignment—the intangible yet essential aspect of a long-term partnership.

“The strength of the partnership is important to drive success, but it is equally, if not more important, when things don’t go to plan — which can happen from time to time in real estate development. How our partners behave when things go off-track, how they deal with challenges—is more defining to us than how they perform when everything is going well.”

That resilience has certainly been tested in recent years. The combined impact of rising costs, tighter margins, and falling valuations has created a tough environment for both developers and financiers. Hulett notes the importance of collaboration in these moments. “People don’t always appreciate how hard lenders and investment partners work to collaborate with developers during challenging periods. We continuously look for constructive solutions—not to pass the problem on, but to adapt and pivot utilising the expertise of our highly skilled and experienced teams.”

MaxCap Group’s collaborative approach is evident in its long-standing partnership with design-driven developer Neometro. The relationship dates back to when MaxCap Group was founded in 2007 by Brae Sokolski and Wayne Lasky.

Neometro Director James Tutton says what sets MaxCap Group apart is their consistency and stability.

“You’re dealing with people who’ve been there a long time. That continuity is rare, and it makes a huge difference,” says Tutton. “Having that consistency not just with MaxCap Group, but with their people, is one of the biggest differences we’ve seen compared to other lenders.” Tutton also praises MaxCap Group’s transparency and integrity—qualities that matter immensely in both the best and toughest of times. “They’ll tell you what they can and can’t do. It’s a very honest and straightforward relationship.” This open and pragmatic approach extends to how MaxCap Group operates during live projects. “We’ve had monthly meetings with their direct investment team. If we disagree on something, they’ll share their view, but they’ll respect that we’re the developers. That autonomy and trust are incredibly valuable.”

At its core, MaxCap Group’s success has been built not just on smart deals, but on lasting connections.

“Over 70% of our clients are repeat clients,” says Hulett. “Some are on their first deal, others on their tenth or twentieth. Once clients understand the priority we place on relationships.” Even as MaxCap Group continues to grow and institutionalise, Hulett insists the entrepreneurial spirit—and relational foundation—will remain. “Yes, our business is scaling. But at its core, it’s still a business built on trust, partnership, and loyalty.”