Recent Transactions
-
2nd & 3rd Mortgage to Assist Townhouse Development
Purpose of Loan: To provide a 2nd & 3rd mortgage construction facility for the development of 2 luxury townhouses in Clayfield. The loan is progressively drawn and interest is only payable on drawn amounts Loan Limit: 2nd Mortgage - $462,500 Loan Limit: 3rd Mortgage - $152,500 LVR: 2nd Mortgage - 65% of Gross Realisation Value ex GST LVR: 3rd Mortgage - 75% of Gross Realisation Value ex GST Loan Term: 1 years Facility Type: Construction Loan Interest Rate: 2nd ...
-
6 x Luxury Townhouses – Morningside
Purpose of Loan: To provide a construction facility for the development of 6 luxury townhouses in Morningside Loan Limit: 1st Mortgage - $3,164,000 LVR: 1st Mortgage - 70% of Gross Realisation Value ex GST Loan Term: 1 years Facility Type: Construction Loan Interest Rate: 10.00% per annum Presales: Nil
-
Luxury Units – Burleigh Heads
Purpose of Loan: To provide a construction facility for the development of 9 luxury units at Burleigh Heads Loan Limit: 1st Mortgage - $9,730,000 LVR: 1st Mortgage - 75% of Total Development Costs ex GST Loan Term: 1 years Facility Type: Construction Loan Interest Rate: 4.08% per annum + 1.50% line fee Presales: 100% of debt cover
-
Commercial Building – Build & Hold
Purpose of Loan: To provide construction facility and subsequent term loan for a 3 storey commercial building in Newstead Loan Limit: 1st Mortgage - $6,212,000 LVR: 1st Mortgage - 75% of Total Development Costs ex GST Loan Term: 1 years + 3 years Facility Type: Construction Loan converting to Term Loan on completion Interest Rate: 4.28% per annum + 1.50% line fee Pre-Commitments: Leases in place to cover 1.50 times interest cover
-
Townhouse Project – No Presales
Purpose of Loan: To provide a construction facility for 5 townhouses at Greenslopes Loan Limit: 1st Mortgage - $2,725,000 LVR: 1st Mortgage - 70% of Gross Realisation ex GST Loan Term: 1 years Facility Type: Term Loan Interest Rate: 10.00% per annum Presales: Nil
-
12 Units – No Presales
Purpose of Loan: To provide a construction facility to build 12 residential units with no presales in Nundah Loan Limit: 1st Mortgage - $2,300,000 LVR: 1st Mortgage - 60% of Total Development Costs ex GST Loan Term: 1 years Facility Type: Term Loan Interest Rate: 3.45% per annum + 1.40% line fee Presales: Nil
-
75% LVR Commercial Investment Property
Purpose of Loan: To provide a term commercial facility against an investment commercial property Loan Limit: 1st Mortgage - $750,000 LVR: 1st Mortgage - 75% of As Is Value ex GST Loan Term: 3 years Facility Type: Term Loan Interest Rate: 4.20% per annum
-
10 x Residential Units at Taringa
Purpose of Loan: To provide a construction facility for the development of 10 residential units at Taringa Loan Limit: 1st Mortgage - $4,250,000 LVR: 1st Mortgage - 90% of Total Development Costs ex GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 9.00% per annum + 3.00% Line Fee Presales: Nil
-
37 Units – 30% Debt Cover
Purpose of Loan: To provide a construction facility for the development of 37 residential units at Deception Bay Loan Limit: 1st Mortgage - $7,110,000 LVR: 1st Mortgage - 80% of Total Development Costs ex GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: 11.95% per annum + 1.00% Line Fee Presales: 30% of debt cover
-
Palm Beach – Luxury Units
Purpose of Loan: To provide a construction facility for the development of 17 luxury beachfront residential units at Palm Beach Loan Limit: 1st Mortgage - $20,450,000 LVR: 1st Mortgage - 75% of Total Development Costs ex GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: 3.70% per annum + 1.50% Line Fee Presales: 100% of debt cover
