Recent Transactions
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Bulimba Units – No Presales
Purpose of Loan: To fund the development of 8 x residential units in Bulimba with no presales. The facility was secured via a non-bank funder. Loan Limit: $2,507,000 LVR: 85% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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10 x Townhouses – Carina Heights – Bank Funded with Nil Presales
Purpose of Loan: To fund the development of 10 x two storey residential townhouses in Carina Heights with no presales. The facility was secured via a bank Loan Limit: $3,170,000 LVR: 80% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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Refinance Company in Administration
Purpose of Loan: To refinance the assets of a company that was in administration using rural residential property as security. Loan Limit: $615,000 LVR: 62% against 3 properties in a regional/rural location Loan Term: 2 years Facility Type: Private Loan Pricing: 11.50%
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Business Acquisition
Purpose of Loan: To fund the acquisition of a wedding planning and events business, using residential property and the business as security Loan Limit: $1,289,400 LVR: 80% against the residential property; 65% against the business purchase price Loan Term: 30 years on the residential property portion; 5 years on the business loan portion Facility Type: Residentially secured business loan + a business loan Pricing: 5.05% against the residential component; 9.65% against the business loan portion
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Mordant St, Ascot Project
Purpose of Loan: To fund the development of 11 x residential units at Ascot Loan Limit: $2,985,000 LVR: 73% of Gross Realisation excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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1st & 2nd Mortgage on Mackay Unit Development
Purpose of Loan: To fund the development of 56 x residential units in Mackay Loan Limit 1st Mortgage: $12,150,000 Loan Limit 2nd Mortgage: $2,500,000 LVR: 97% of total development costs Loan Term: 12 months Facility Type: Construction facility Presales: 120% of debt cover
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Luxury Townhouses @ Bulimba
Purpose of Loan: To fund the development of 4 x luxury townhouses at Bulimba Loan Limit: $1,920,000 LVR: 88% of total development costs Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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Build & Hold @ Racecourse Rd, Ascot – 4.75% Variable Rate
Purpose of Loan: To fund the development of 2 x commercial tenancies at Ascot. The property was retained upon completion Loan Limit: $1,400,000 LVR: Up to 60% of the as is value Pricing: 1.90% + 90 days bills - 4.75% Loan Term: 15 years Facility Type: Construction facility converting to a term loan Presales: Nil
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No presales @ Nundah
Purpose of Loan: To fund the development of 9 x 2 bedroom apartments at Nundah Loan Limit: $2,151,000 LVR: 70% of total development costs Loan Term: 15 months Facility Type: Construction facility Presales: Nil
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Windsor St, Nundah
Purpose of Loan: To fund the development of 28 residential units for a builder/developer Loan Limit: $6,565,000 LVR: 80% of total development costs Loan Term: 15 months Facility Type: Construction facility Presales: 80% of debt cover
