Real Estate Debt: Investment & Land Loan, Cranbourne, Victoria

Salter Brothers Credit has secured a $13.5m 1st Mortgage Senior Debt Land & Investment Properties Facility (Facility) to be used to refinance existing debt across both the development site, and seven investment properties in Victoria and assist Sponsor with achieving necessary milestones to progress the development of an intended 115 lot residential subdivision, located in Devon Meadows, VIC.

The $13.5M Facility is expected to close on 30 Sep 2024. With a 60.0% Loan to Value Ratio (LVR), the investment is offering a quarterly coupon equivalent to 10.0% + pa, paid in advance,  with an expected maturity of c12 months and a legal maturity of 24 months from closing.

Enquire now for more information.

INVESTMENT HIGHLIGHTS

  • 1st Mortgage
  • 60% LVR
  • Senior Secured
  • 10.0% + net IRR
  • Target Net IRR >10.0%; real-estate backed Credit, secured by a combination of income producing assets & development sites.

  • Well capitalised Sponsor, with cashflow generating business that services proposed loan.
  • Lender review terms after initial 12 months
  • Interest serviced loan (non capitalising)
  • 24 month term

Updates

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