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Loan Purpose
Facility Amount
$2.3MM
LVR
65%
Term
Security
LTC
Pre-sales
Exit Strategy
The Deal
The Borrower had developed 7 townhouses at St Marys NSW 2760 with development funding sourced from a private debt funder. The Borrowers strategy was to retain all 7 townhouses on completion as long term investments.
Balmain provided Term Debt funding against the 7 townhouses stand-alone to pay out development funding on completion allowing the Borrower to implement the hold strategy.
Funding was provided through a non-bank commercial property lender to whom Balmain has exclusive access.
George Atsalakis
Partner
