Balmain Brisbane has recently been involved in the funding of several specialised assets across Queensland, including the acquisition and development of a service station.
Our client went under contract to acquire a DA approved site to redevelop a dilapidated service station and also secured a 15-year Agreement For Lease with a major multi-national oil company.
Balmain Commercial was able to secure construction funding from a Big Four Bank and an additional mezzanine loan to assist with the acquisition. Post construction, Balmain was successful in securing an investment facility to refinance the construction lender to another major bank under more favourable terms.
Details of the initial senior and mezzanine funding are outlined below:
|Loan to Value Ratio||65%||75%|
|Interest Rate||3.72% p.a.||20% p.a.|
|Loan Term||6 months||6 months|