The Sponsors have purchased an off the plan apartment in Equity Central's recently constructed building, Southbank Place, in Melbourne's Southbank district.
They aren't able to get bank finance as their current financials don’t demonstrate traditional bank servicing requirements.
The security on offer is the recently constructed apartment consisting of two bedrooms and one lock-up garage. The 52-level tower also houses an indoor heated pool, gym, relaxing lounges, dining area with two kitchens, theatre & a landscaped rooftop BBQ terrace with panoramic views of Melbourne’s skyline.
The Sponsor's exit strategy is to prepare financials and refinance out at the end of the term.
The loan will be secured by a First Mortgage
General Security Agreement over Corporate Sponsor + PPSR Charge
Personal Guarantee from Individual Sponsor
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