Senior Debt loan $3m for Land Bank Acquisition at 65% of Purchase Price Mornington Peninsula
Development Finance Partners (DFP) was engaged to provide a funding solution for a land bank acquisition with development potential in Mornington Peninsula VIC. DFP arranged and settled a 12-month land bank facility for $3m, representing 65% of the purchase price. The key issues faced by this site acquisition
- The client contracted to purchase the site in April 2018.
- The client has supported major banks in the past however, when it came crunch time to settle on this parcel, credit conditions across the majors had tightened and this proved difficult to settle the transaction.
- The other issue was valuation
Subscription is required to continue reading the entire content.
For expert advice:
Sydney Office
Level 3, 31 Alfred St
Sydney NSW 2000
P / 02 8916 6246
Melbourne Office
Level 30/35 Collins Street,
Melbourne VIC 3000
P/ 03 8692 0082
Brisbane Office
Level 18, 175 Eagle Street
Brisbane QLD 4001
P / 07 3041 4136
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