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