balmain + commercial + big deals +
Gold Coast Townhouse Development
June 2010
| purpose | To fund the construction of 28 townhouses on the Gold Coast |
| loan limit | $8,578,000 |
| lvr | 90% of Total Development Costs |
| loan term | 12 months |
| borrower type | Development |
| facility type | Construction facility |
| interest rate | 10.20% blended rate on both mortgages |
The Benefits
An experienced development company required a highly geared funding solution for their heavily presold 28 townhouse project on the Gold Coast.
Balmain was able to fund 90% of the total development costs of the project using a 1st mortgagee and two separate 2nd mortgagees over two stages. The high gearing secured by Balmain has allowed our client to keep their equity for future projects.
balmain + commercial + big deals +
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