1 August 2021
Development Site - Brisbane Outer Suburb
We were approached by a developer seeking finance to help settle the purchase of a residential development site in a Brisbane outer suburb. The Borrower was a Property Fund and so were not prepared to provide a director’s personal guarantees as security for the loan.
Using our in-house private debt fund, Pillarview Invest, we were able to secure non-recourse finance on terms acceptable to the Borrower within 5 days of receiving the site valuation. We were also able to provide the borrower with indicative terms for the future subdivision of the site when the project is ‘shovel ready’ which provided them with certainty on future financing.
|60% of the ‘as is’ land value