Author Archive
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45 Residential Units – Brisbane – Builder/Developer
Purpose of Loan: To fund the construction of 45 residential units in inner Brisbane Loan Limit: 1st Mortgage - $11,760,000 LVR: 1st Mortgage - 80% of Gross Realisation excluding GST Loan Term: 24 months Facility Type: Construction facility Presales: 75% of debt cover
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Indooroopilly – 14 Units No Presales
Purpose of Loan: To fund the construction of 14 residential units in Indooroopilly Loan Limit: 1st Mortgage - $5,500,000 LVR: 1st Mortgage - 66% of Gross Realisation excluding GST Loan Term: 15 months Facility Type: Construction facility Presales: Nil
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Final Stage of a Unit Project
Purpose of Loan: To fund the final stage, being stage 3, of a 202 unit project in Townsville Loan Limit: 1st Mortgage - $12,700,000 LVR: 1st Mortgage - 80% of Total Development Costs excluding GST Loan Term: 16 months Facility Type: Construction facility Presales: 65% of debt cover
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Corporate Facility
Purpose of Loan: To fund the acquisition of a payday and small cash loan lending business Loan Limit: 1st Mortgage - $500,000 LVR: 1st Ranking PPSR Charge over the business - 50% of the business value Loan Term: 5 years Facility Type: Corporate facility
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Management Rights Transaction
Purpose of Loan: To fund the acquisition of management rights in a 56 unit project in regional Queensland Loan Limit: 1st Mortgage - $507,000 LVR: 1st Mortgage - 70% of the value of the management rights business and unit Loan Term: 15 years Facility Type: Commercial facility
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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
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1st & 2nd Mortgage Construction Transaction
Purpose of Loan: To fund the development of 11 x residential units in Everton Park Loan Limit: 1st Mortgage - $2,750,000 2nd Mortgage - $400,000 LVR: 1st Mortgage - 80% of Total Development Costs excluding GST + a GST facility 2nd Mortgage - 90% of Total Development Costs Loan Term: 12 months Facility Type: Construction facility Presales: 3 units
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Bank Finance No Presales Builder/Developer
Purpose of Loan: To fund the development of 9 x 2 bedroom residential units in Northgate Loan Limit: 1st Mortgage - $2,140,000 LVR: 1st Mortgage - 70% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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No Presales – Small Development
Purpose of Loan: To fund the development of 3 x residential townhouses and the renovation of an existing house Loan Limit: 1st Mortgage - $1,410,000 LVR: 1st Mortgage - 85% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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Take Out Finance
Purpose of Loan: To provide finance to a developer who was retaining 3 units in a completed project that they had developed Loan Limit: 1st Mortgage - $1,100,000 LVR: 1st Mortgage - 70% of the market value of the units Loan Term: 3 years Facility Type: Commercial facility Interest Rate: 5.05%
