INVESTMENT OVERVIEW
The Sponsor’s family has owned a commercial property in Lalor since 1971. They are building four apartments and one retail shop on the site. The land is unencumbered. We have already approved a construction loan for the development.
The purpose of this loan is to raise equity to be contributed to the initial stages of the construction.
The Sponsor can’t get bank finance as it is a commercial loan and banks are not prepared to make progress payments nor advance cash to the Sponsor for this project.
Security on offer is a four bedroom, two bathroom residential property in Mernda, a north-eastern suburb of Melbourne, Victoria.
The exit strategy is to refinance to a bank once fully drawn.
SECURITY DETAILS
- The loan will be secured by a Second Mortgage/Caveat
- Personal Guarantee from two Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
INTERESTED IN INVESTING?
For more information on current investment opportunities, please contact:
Lauren Taylor
Managing Director[email protected]
0477 566 022
