INVESTMENT OVERVIEW
The Borrowers have extensive experience in the concreting industry and commercial property development, with a strong track record of delivering similar industrial projects.
The purpose of this loan is to provide additional funding to support the completion of a property development in Ravenhall, Victoria. The development is approximately 95% complete with the loan proceeds funding the remaining construction works.
The Borrowers are unable to obtain traditional bank finance due to the urgent funding requirements and delays associated with the bank’s valuation process.
Security on offer is the property in Ravenhall, a suburb in Melbourne, Victoria. The property comprises 24 brand-new warehouses ranging in size from 102sqm to 532sqm.
The exit strategy is to refinance the loan once the project is complete.
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
- Two Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
