Location: Terranora, NSW
Loan Amount: $12,800,000
Term: 6 months
LVR: 87% of GRV (Net of GST)
Security: 1st Mortgage
Overview: Clients were in receivership on their land subdivision which was about 65% complete. We secured funding to payout all mortgages, receiver, creditors and provide funds to finish the development to enable the sales to occur.
Exit: Individual lot sales