INVESTMENT OVERVIEW
The Borrowers have over 25 years of experience across various aspects of construction and design for both residential and commercial properties.
The purpose of this loan is to complete the purchase and redevelopment of a commercial property in Cooma, a town in the south of New South Wales.
The Borrowers are unable to obtain traditional bank finance as this is a special-purpose property loan.
Security on offer is the commercial property in Cooma, New South Wales. The property is on 3,136msq land with a two-storey commercial building earmarked for redevelopment.
The exit strategy is to refinance into a construction loan.
This loan has a twelve month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by First Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
- General Security Agreement over Individual Sponsor + PPSR Charge
