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Auchenflower Development – 75% of debt of cover

Posted at December 5, 2017 | By : | Categories : Recent Transactions | 0 Comment

Purpose of Loan: To provide a construction facility for the development of a mixed dwelling residential project at Auchenflower

Loan Limit: 1st Mortgage – $8,795,000

LVR: 1st Mortgage – 75% of Total Development Costs ex GST

Loan Term: 15 months

Facility Type: Construction Loan

Interest Rate: 5.18% per annum + 1.50% Line Fee

Presales: 75% of debt cover