Footscray Loan

Status: Completed   Vertical: Asset backed lending

About the deal

  • IRR of 8% pa over 12 month term

  • Equity raised $14.95m

  • LVR up to 70%

  • Registered first mortgage over development site in inner Melbourne

Why the deal is attractive

  • Great location in inner Melbourne, with well progressed re-gentrification of area

  • Borrower has strong track record of similar developments 

  • Certainty around exit strategy due to projected future value of site

What it delivers to investors

  • Strong, stable returns delivered to projections

  • Full repayment of facility successfully delivered on time

  • Borrower received approved DA for a mixed use development resulting in revaluation at close to double original purchase price