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Loan Purpose
Assist with the construction of 14 strata industrial units
Facility Amount
$9.2MM
LVR
70%
Term
12 months
Security
Industrial construction
LTC
83%
Pre-sales
2 units
Exit Strategy
Sell down of completion stock
The Deal
The Borrower had owned the site for several years and was determined to unlock equity through refinancing, allowing for cashing out to start construction. Despite having minimal presales but supported by a fixed-price building contract, Balmain provided a facility amount that satisfied the Borrower’s requests, allowing the client to move forward quickly with the construction development.
Thomas van der Schyff
Associate
