INVESTMENT OVERVIEW
The Borrowers have a background in property development.
The purpose of this loan is to complete the purchase of a residential property in Richmond, Victoria through an off-market purchase from a seller known to the Borrower. An existing valuation completed within the last 30 days is being reassigned to provide the Borrower an opportunity to acquire the property at a price below market value.
The Borrowers are unable to secure traditional bank finance due to their newly incorporated company and the short-term nature of the request.
Security on offer is the residential property in Richmond, an inner-city suburb in Melbourne, Victoria. Situated on a 225msq block of land, the property features two bedrooms, one bathroom, a lounge, porch, patio, balcony, and a lock-up garage.
The exit strategy is to sell the security property or another commercial property owned by the Borrowers to settle the debt.
This loan has a nine month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by First Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
