Had Your Funding Fall Over? Here’s How We Are Helping Developers Left In The Lurch
Refinance & Working Capital Facilities Melbourne, Victoria $8,500,000
Development Finance Partners (DFP) was engaged to assist its client, a mixed-use property investment, development and building group, to procure a six-figure working capital facility to fund its ongoing activities.
THE KEY ISSUE IN SOURCING FUNDS
The onset and escalation of the Covid-19 crisis during the negotiation and documentation stages resulted in many lenders either suspending operations or reducing lending limits and loan to value ratios.
Market uncertainty also meant that valuation firms were marking down property values.
The transaction itself required that multiple loan facilities secured across nineteen (19) residential properties be refinanced, with sufficient surplus being made available for the required working capital purposes.
Under very difficult conditions, DFP was able to leverage the strong relationship with its capital partner to facilitate the successful negotiation of four (4) stand-alone funding packages totalling $8,500,000, individually secured across properties in the client’s portfolio. The facilities were geared to 65% loan to value ratio and documented on attractive terms. Significantly, the transaction was completed and settled within three (3) weeks.
Could your next project benefit from some expert development finance? Get in touch.
For expert advice:
Level 3, 31 Alfred St
Sydney NSW 2000
P / 02 8916 6246
Level 30/35 Collins Street,
Melbourne VIC 3000
P/ 03 8692 0082
Level 18, 175 Eagle Street
Brisbane QLD 4001
P / 07 3041 4136
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