02 9232 8888
OFFICES
Loan Purpose
Refinance existing first and second mortgage loans
Facility Amount
$45.4MM
LVR
65%
Term
Security
Mixed use development
LTC
Pre-sales
Exit Strategy
Sale of residual units until metrics satisfied major bank term debt policy
The Deal
The project of 72 residential units in Southport, QLD, required assistance with repayment and consolidation of all debts associated with the project, including first and second mortgages. After selling 22 units over 12 months, Balmain’s client debt was reduced to an estimated $25MM, which allowed it to be refinanced to a mainstream bank.
George Atsalakis
Partner
