The Sponsor has a background in property investment
The purpose of this loan is to rollover current debt and provide additional cashflow to complete the development of a 71 house retirement village in Lake Macquarie, NSW.
Security on offer is a residential apartment in Bondi Beach, NSW.
The exit strategy is to use proceeds from sale of the retirement village project or a direct refinance of the security property.
- The loan will be secured by a First Mortgage
- Two Personal Guarantee from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge