Recent Transactions
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Lamington Ave, Ascot
Purpose of Loan: To fund the development of 10 residential apartments Loan Limit: $2,860,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: 75% of debt cover
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Lutana Street, Stafford
Purpose of Loan: To fund the development of 18 residential apartments/townhouses Loan Limit: $4,700,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: Nil
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Gordon St, Greenslopes
Purpose of Loan: To fund the development of 18 residential apartments Loan Limit: $5,200,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: 75% of debt cover
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Fenwick Rd, Boyand
Purpose of Loan: To fund the development of 18 rural residential lots Loan Limit: $2,200,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: Nil
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Blackwater – Mining
Purpose of Loan: To develop and hold 8 pre-fabricated houses in a mining town Loan Limit: $1,000,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: Nil
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Toowong Apartments
Purpose of Loan: To fund the development of 18 residential apartments Loan Limit: $6.5m - 1st Mortgage LVR: 75% of total development costs (client was a builder/developer) Loan Term: 15 months then converts to a term facility Facility Type: Construction Facility Pre-Sales: 75% of debt cover
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Jersey Rd, Morningside
Purpose of Loan: To develop 10 townhouses Loan Limit: $3.6m - 1st Mortgage and $250,000 - 2nd Mortgage LVR: 1st Mortgage to 75% of gross realisation and 2nd Mortgage to 80% of gross realisation Loan Term: 12 months Facility Type: Construction Facility Pre-Sales: Nil
