Mezzanine Debt Funding for the construction of 24 Torrens Titled Townhouses in Middleton Grange NSW
| Categories: | Fixed Income, Property |
| Sale Type: | Asking Price |
| Price Guide: | AUD Target raise A$1.1M (A$500k already raised) |
| Status: | Closed |
Summary:
PrimaryMarkets in partnership with VentureCrowd is seeking interested parties in mezzanine debt funding for the construction of 24 Torrens Titled Townhouses
in Middleton Grange NSW:
- Development approved project with construction commencing early 2019
- Project completion expected in 18 months after start
- Loan repayment will be by sale of the townhouses at completion
- Mezzanine loan
- No entry or exit fees
- Targeted return of 20% p.a.
- Interest paid quarterly
- Secured by registered second mortgage, and directors' personal guarantees
- Minimum loan term of 12 months
- Total loan amount of $1,100,000
- Loan to Value Ratio (LVR) = 67.5% based on land contract price A$5,700,000
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