INVESTMENT OVERVIEW
The Borrowers have backgrounds in farming and property development.
The purpose of this loan is to refinance an existing loan and complete the subdivision of one of their properties into twelve 100-acre lots.
The Borrowers can’t get bank finance as they don’t meet the servicing requirements of a traditional bank.
Security on offer are four residential properties in Kundabung and one commercial property in Berkeley Vale, NSW:
- The first property is on 491.87ha land in Kundabung, NSW which is for subdivision and development soon.
- The second property is on 48.35ha land in Kundabung, NSW. The property comprises of four bedrooms, two bathrooms and a detached lock up garage.
- The third property is on 455msq land in Berkeley Vale, NSW. The commercial property comprises a warehouse which has been split into two leasable areas.
- The fourth property is on 49.06ha land in Kundabung, NSW. The double storey house comprises of five bedrooms, two bathrooms and two carports.
- The fifth property is on 40.01ha land in Kundabung, NSW. The residential property comprises of three bedrooms, two bathrooms and a garage.
The exit strategy is to pay out the loan using the proceeds from the sale of biodiversity credits from a biodiversity stewardship program. The second option would be to sell the commercial warehouse and the 40 hectare property in Kundabung.
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 three First Mortgages and two Second Mortgages
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
