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Prominent Land Developer Pre-Development Finance
Capital release for a major land developer to fund pre-construction civil works.
Transaction Overview
A prominent Hobart land developer possessed a substantial unencumbered landbank but lacked the liquid capital to commence early civil works. We structured a $12M pre-development facility at 70% LVR against the 'as-is' value of the site, enabling the developer to progress infrastructure works and significantly enhance the end-value of the subdivided lots.
Key Metrics
Loan Amount
$12,000,000
Interest Rate
9.25% p.a.
LVR
70%
Location / Asset
Hobart
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