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
Subscription is required to continue reading the entire content.
For expert advice:
Featured articles /
- Presales affecting property developers and how you can overcome the pre-sale hurdle.
- Our Domestic Credit Squeeze – The Perfect Storm and Opportunity for the RBA & Property Developers
- How property developers can thrive in a changing economy
- Development Finance Partners recognised as one of Australia’s most innovative and fastest growing companies
- CREDIT ALERT – “THE PARTY IS OVER”
Leave a comment