Staged Unit Project – Mt Gravatt

Purpose of Loan: To fund the development of 112 residential units in two stages of 56 x residential units in each

Loan Limit: 1st Mortgage – $16,475,000

LVR:  1st Mortgage – 80% of Total Development Costs excluding GST + a GST facility

Loan Term: 18 months

Facility Type: Construction facility

Presales: 80% of debt cover