INVESTMENT OVERVIEW
The Borrowers have backgrounds in operating a real estate business with established experience in property investment and development.
The purpose of this loan is to provide funding for a property development opportunity in Brendale, QLD.
The Borrowers are unable to obtain traditional bank finance due to an existing loan and their need for immediate access to funding.
Security on offer is a residential property in Kallaroo, a suburb within the City of Joondalup, north of Perth CBD. The beachfront property is sitting on a 601sqm allotment and comprises a six-bedroom, five-bathroom residence with two parking spaces.
The exit strategy is to sell the residential property and repay the loan in full.
This loan has an eight month pre-paid loan term, with the option for two monthly extensions.
SECURITY DETAILS
- The loan will be secured by Second Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
