02 9232 8888
OFFICES
Loan Purpose
Assist with development of 35 residential terraces.
Facility Amount
$34.88MM
LVR
67%
Term
22 months
Security
Residential Construction.
LTC
80%
Pre-sales
$21.82MM
Exit Strategy
A further sale of nice (9) residential terraces will clear the proposed debt.
The Deal
This Norwest construction loan has DA approval for 35 residential terraces, including 27 four-bedroom dwellings, and eight (8) three-bedroom dwellings. Gross realisation once completed is $55.663MM. By December 2023, 16 pre-sales have occurred, covering 62% of the Loan.
Jonas Tam
Partner
