Commercial Loan – Potts Point NSW – 65% LVR

Commercial Loan – Potts Point NSW – 65% LVR

Potts Point NSW – 65% LVR

Property investor wanted to purchase a commercial property for $5.0m with arms-length leases.  He already owned the property adjacent and could see long term development potential.

Issues

  • Client had some previous credit impairment however his current credit status was in order
  • His credit impairment had precluded him from obtaining finance from traditional sources
  • The property being purchased included a restaurant / nightclub and certain licenses had lapsed

Scope

  • Development Finance Partners was engaged to provide a funding solution
  • Complete a tenancy profile, including WALE and confirm adequate interest cover
  • Work with our underwriter  to look beyond the previous credit impairment
  • Work with Client and underwriter to have the licenses renewed

 Results

  • Development Finance Partners secured a Private underwriter  that was prepared to work with the Client to find a solution
  • The licenses were renewed and certain leases extended.
  • The Client was able to purchase the property with the help of Development Finance Partners

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