Open for Investment
Fortitude Valley, QLD
Residential - Residual Stock Loan
The Loan is a Residual Stock Loan secured by a first registered mortgage over 26 strata titled residential apartments in the recently completed ‘The Coterie’ development in Fortitude Valley, approximately 1.5km north east of the Brisbane CBD.
‘The Coterie’ is a new residential complex completed by the Borrower Group in early 2020. The development comprises 249 apartment (127 x 1 bedroom, 99 x 2 bedroom and 23 x 3 bedroom configurations), as well as ground level retail and first level office space, over two (2) towers of 28 storeys. Of the 249 apartments, 167 have been sold, 26 form Security for this Loan and 56 are held unencumbered by the Borrower Group.
The 26 units in the Security pool comprise a mixture of one, two, and three bedroom apartments ranging in size from 58m2 to 207m2.
The purpose of the Loan was to refinance construction finance.
The Borrower Group is an experienced Melbourne based property developer with over 25 years' experience, specialising in mixed-use property developments.
Target Return (P.A. net)5.2%
Loan to Value Ratio64%
Term to Run (Mths)6 Mths
Minimum Initial Investment$10,000
All Current Investments.
All loans are credit approved before being offered to investors. All target returns are net of fees.
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