Refinance & Equity Release
$10m Property Investment Facility
Service
Commercial Property Investment
Funding Amount
$10m
Funding Purpose
Refinance & Equity Release
Industry
Property – Apartment Complex
The Scope
- The client completed a residential apartment development in 2019 and retained 26 units of the 44 unit development for passive income.
- The debt against the retained stock was with a Big 4 Bank with restrictive gearing against the asset class.
- The client was looking for an equity release through increased gearing to assist with funding another development.
- The key objective of the transaction which was to maximise gearing at a rate < 10%.
What We Did
- Prepared information memorandum illustrating investment nature of the asset and highlighting the strength of the Brisbane rental property market.
- Explored numerous funding options including Banks and Non-Banks.
- Obtained three indicative Offers meeting the objectives of the transaction.
The Result
- 75% LVR against the Gross Realisation Value (90% LVR against In One Line Value).
- Two week approval process with Non-Bank.
- Equity release / cash out with no controls.
- 8.95% interest rate.
