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Loan Purpose
Acquisition of vacant residential lots and construction of 17 residences
Facility Amount
$8.105MM
LVR
70%
Term
Security
Residential Construction
LTC
80%
Pre-sales
Not required
Exit Strategy
The Deal
The Borrower, who had been a bank client for many years, approached Balmain seeking help with purchasing some vacant residential land. Once all the pre-construction details were finished, Balmain was able to provide a construction loan to build 17 residences.
Balmain could assist the Borrower with their objectives, which allowed them to commence construction without delay.
Jack Graham
Partner
