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Loan Purpose
Facility Amount
$14.75MM
LVR
70% of the net realisable on completion value
Term
Security
LTC
Pre-sales
Exit Strategy
The Deal
The Developer approached Balmain looking to commence civil and construction works for Stage 1 of a 66-townhouse project as soon as possible.
Balmain was able to provide construction finance through the Balmain Capital Fund with an aggregate pre-sale requirement condition of 75% of the Facility limit.
A small percentage of 5% deposits and pre-sales requiring FIRB approval were permitted to contribute to the Qualifying Pre-sales requirement.
Jarrod Logan
Partner
