$25 Million secured and unsecured landbank refinance arranged by DFP, Melbourne VIC.
Background
Development Finance Partners (DFP) were engaged to provide a funding solution to immediately refinance a maturing $25 million land bank facility in Victoria.
The Key Issues:
The existing facility had matured and the client was paying penalties.
DFP’s Role:
DFP arranged and settled an 18 month $20 million land bank facility based upon an LVR of 59% of the As Is value of the DA approved Land.
In addition, DFP arranged an 3rd ranking unsecured loan facility of $5 million at an LVR of 85% of Completion Value against stage one of the clients adjoining projects which was 50% completed, providing an overall funding solution to the client.
Could your next project benefit from some expert development finance? Get in touch.
Sydney Office
Level 3, 31 Alfred St
Sydney NSW 2000
P / 02 8916 6246
Melbourne Office
Level 30/35 Collins Street,
Melbourne VIC 3000
P/ 03 8692 0082
Brisbane Office
Level 18, 175 Eagle Street
Brisbane QLD 4001
P / 07 3041 4136
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