$7.0m Land and Construction Facility
$7.0m Land and Construction Facility
Service
$7.0m Land and Construction Facility
Client
Private Property Developer
Location
Melbourne Vic
The Challenges
Development sponsors were seeking a fully debt funded land and construction facility to build 7 Terrace style townhomes above a common basement with nill pre-sales.
EMK Thomas procured a flexible construction debt facility that alleviated any additional equity contribution by the sponsors into the land and construction, whilst enabling the client to immediately start on the construction program and generate sales through on-site construction momentum.
Client's Result
Clients benefited from a fully debt funded structure that eliminated any additional future land holding costs, as well as alleviating any costs and uncertainty associated with a marketing and pre-sales campaign.