Meeting the Property Development and Construction Funding Needs in Western Australia
West Australian Property Fund Managers are Seeking Eastern States Exposure
Due to an over-concentration of their lending in West Australia, private fund managers/underwriters are seeking to diversify their portfolios and have engaged Development Finance Partners to become the lead manager for the eastern states, which is exciting news for our clients.
With little or no exposure on the east coast these underwriters have provided Development Finance Partners a specific mandate to distribute funding from West Australia into preferential equity/ first mortgage property development finance up and down the east coast.
West Australian Property Developers Face Limited Local Funding Supply
Developers in West Australia also are at the effect of a limited supply, given their geographical constraints and are struggling to find underwriters, due to the above, whom they don’t have too much exposure too. Needless to say Development Finance Partner’s well-established Eastern Seaboard funders are looking to capitalise on these opportunities.
A New Funding Option for West Australian Property Developers
Development Finance Partner’s principal Baxter Gamble and Associate Director are now regularly commuting to Perth to service this market, with a 3 day visit scheduled in late July 2014.
Gamble states “The opportunity in WA is too large to ignore given the sound economic base and outlook that the state provides. Development Finance Partners already provides property development and construction financing and funding solutions to projects in QLD, NSW, VIC & TAS, so the extension to WA would be a natural growth strategy for Development Finance Partners and this underserviced market.“
If you are seeking property development and construction funding for commercial property development projects in West Australia, or as a West Australian fund manager are seeking eastern seaboard opportunities, don’t hesitate to contact Development Finance Partners.
What Do You Think?
Do you have something to add to the discussion either as a property developer or fund manager? Please let us know your view and/or experience by sharing your comments below!
Could your next project benefit from some expert development finance? Get in touch.
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Sydney NSW 2000
P / 02 8916 6246
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Melbourne VIC 3000
P/ 03 8692 0082
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Brisbane QLD 4001
P / 07 3041 4136
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