Development Finance Partners (DFP) was engaged to provide a funding solution for a land bank acquisition in Medowie NSW.
DFP arranged and settled a 12 month land bank facility, representing 120% of the purchase price and 65% Loan to Value Ratio, was delivered.
THE KEY ISSUES FACED BY THIS SITE ACQUISITION
- During the period of the land purchase contract the Client had obtained both a rezone and DA for a 235 lot manufactured housing estate “MHE” development.
- Financing against a $13.5M As Is valuation and not the $4.5M purchase price.
- Specialised security as the DA was for MHE and not residential
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