Funding of Partially Completed Project

Funding of Partially Completed Project

Funding of Partially Completed Project
Project Details

Location:
Wynnum, Brisbane

Facility Amount:
$1,800,000

LVR:
65% of Gross Realisation

Deal Writer:
Rhys Adams

Unique feature of the deal

The borrower had commenced construction following a verbal approval from their relationship banker. When this verbal approval did not progress to funding, the borrower approached Balmain with construction having commenced and the project without presales.

Balmain provided a solution to fund the remainder of construction as well as reimburse the developer for costs they had carried in progressing the project to this point.

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