The Loan is secured by a first registered mortgage over four newly built residential townhouses located in Jindabyne, NSW; a popular holiday destination in close proximity to major ski resorts within the Kosciuszko National Park, including Thredbo, Perisher and Charlotte Pass.
The Security Property comprises 4 x 4-bedroom, executive style residential townhouses overlooking Lake Jindabyne which are let as holiday accommodation.
The purpose of the Loan was to release equity from the Security Properties. The properties were unencumbered prior to this advance.
The Borrower Group are active and experienced developers and property investors located in Sydney with strong net asset positions.
The Loan is anticipated to be repaid from profits from a current development being completed by the Borrower Group in Narwee, NSW.
- Interest is pre-paid for the Loan Term.
- The Loan was advanced at a Loan to Value Ratio of 55%.
- The Target Return is 8.45% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by personal and corporate guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 12 months, subject to early or late repayment, from 19 December 2018 to 18 December 2019.
Target Return8.45% net
Loan to Value Ratio55%
|Security||1st registered mortgage, joint and several personal and corporate guarantees and a General Security Agreement over the Borrower|
|Asset||Four residential townhouses located in Jindabyne, NSW|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.