We originate, structure, and execute property opportunities across the residential, industrial, and commercial sectors.
Spanning advisory through to full project delivery, we combine capital markets expertise with proven development capability.
Smarter capital. Better projects. Stronger outcomes.
Investory is a real estate investment and development firm focused on structured, off-market opportunities where design quality, market demand and disciplined execution can create real value.
What sets us apart is that we work across both capital and delivery, enabling clearer assessment, effective structuring, and more active management of opportunities.
Who We Are
01
Capital and Delivery
Investory pairs capital, development and risk management expertise, focusing not just on identifying opportunities, but on how they are structured, delivered, managed and realised.
02
What We Do
Investment Management
We provide disciplined investment management services under an Australian Financial Services Licence (AFSL), offering investors access to carefully selected real estate opportunities.
Our approach is grounded in rigorous due diligence, prudent risk management, and alignment of interests. We structure and manage investments across the capital stack, ensuring transparency, governance, and consistent reporting throughout the investment lifecycle.
We focus on preserving capital while delivering attractive risk-adjusted returns through active portfolio and asset management.
Development Management
We provide end-to-end development management services, overseeing projects from initial feasibility through to completion and exit.
Our team brings deep experience across site acquisition, design coordination, planning approvals, procurement, and construction delivery. We work closely with consultants, contractors, and stakeholders to ensure projects are delivered on time, on budget, and in line with the original business plan.
Our involvement ensures disciplined execution, proactive risk management, and alignment between capital partners and development outcomes.
Advisory
We deliver strategic advisory services across real estate capital markets and development, supporting investors, lenders, and developers in making informed decisions.
Our advisory offering includes complex capital structuring, feasibility analysis, transaction execution and development management. We leverage our network and market insight to source opportunities and structure solutions that are often unavailable through traditional channels.
We act as a trusted partner, providing clear, commercial advice tailored to each client’s objectives.
03
Why Investory
1. Multi-disciplinary by design
Our edge comes from combining capital markets, development, design and delivery thinking from day one.
2. Active control
We focus on opportunities where structure, timing and project control can materially improve outcomes. The IM describes active control via equity and disciplined deal management.
3. Real-world execution
Our team’s experience spans architecture, development, institutional investments and construction.
4. Demand-led strategy
We target sectors shaped by genuine housing and land supply needs, not just market noise. The IM and capabilities material repeatedly frame the strategy around undersupply and overlooked market opportunities.
04
How We Work
1. Source
We identify opportunities through relationships, market knowledge and targeted origination.
2. Test
Every opportunity is pressure-tested through feasibility, due diligence and risk review.
3. Structure
We align the capital stack, delivery strategy and commercial terms before moving forward.
4. Deliver
We actively manage design, approvals, procurement and execution.
5. Realise
We pursue clear exit pathways designed to protect capital and maximise value.
Better decisions. Better assets. Better outcomes.
We invest, develop and advise across sectors shaped by real demand.
Our Team
MATTHEW ZSCHECH
Managing Director
& Partner
Matthew Zschech is a finance professional and investment executive with more than 15 years’ experience in global financial markets and over 25 years’ experience across corporate, banking and financial services environments in Australia and internationally. His expertise spans corporate governance, investment management, capital markets, due diligence and financial structuring, with experience across funds management, securities and multi-asset investment portfolios. At Investory, Matthew works with the team to structure and manage investment platforms and real estate opportunities, applying a disciplined governance and capital markets approach to deliver strong outcomes for investors. Matthew holds a Master’s Degree in Management, a Postgraduate Diploma in Technology Management and a Master’s Certificate in Project Management. He is also a graduate of the Australian Institute of Company Directors. .
STEVEN MICHAIL
Chief Capital Officer
& Partner
Steven has more than two decades of experience in real estate development, investment and structured finance. In addition to previously developing his own projects as Principal, he has held senior investment, financing and consulting roles with global real estate firms, leading Australian banks, and advisory platforms across Australia and Asia. His expertise spans site acquisition, planning and design, highest and best use analysis, financial feasibility modelling, commercial structuring, capital raising, project delivery, sales, marketing and asset management - applying a disciplined, analytical, and commercially grounded approach to credit risk assessment and real estate financing. Steven has graduated with a Bachelor of Commerce (Management) and a Master of Commerce (Property Investment and Development). Outside of his professional work, Steven is the Founder of a charitable organisation dedicated to improving the lives of disadvantaged children.
AARON STEVENS
Chief Development Officer
& Partner
Aaron is a registered Architect (#9507), developer and capital partner with more than 25 years of experience across design, construction and real estate development. He has delivered projects spanning bespoke residential, health and aged care, multi-residential and subdivision developments, working across the full development lifecycle including acquisition, planning, feasibility, delivery and asset outcomes. Aaron is Chief Development Officer and Partner at Investory, where he works with a multidisciplinary team to originate and deliver residential and alternative housing investment strategies. He is also Co-Founder of Esthera, a values-led care provider focused on delivering high-quality support aligned with long-term housing outcomes. Aaron holds a Bachelor of Arts in Architecture from the University of Technology Sydney and a Bachelor of Architecture (Honours) from the University of New South Wales. .