INVESTMENT OVERVIEW
The Sponsors have a background in property investment. They own two residential properties in Tasmania – one at New Norfolk and the other at Lenah Valley. They also own blocks of land in North Bay.
The purpose of this loan is to refinance an existing loan and settle a land purchase at Midway Point.
The Sponsors can’t get bank financing since this is their first construction project.
Security on offer comprises an apartment with 2 bedrooms, 1 bath, and 1 car space located in Lenah Valley, a suburb of Hobart, Tasmania. They have also offered a vacant lot with 2,754 sqm. land in Midway Point, Tasmania as security which has been earmarked for development.
The exit strategy is to refinance to a construction loan.
SECURITY DETAILS
- The loan will be secured by two First Mortgages
- 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
