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Borrower Requires Bridging Development Site Funding In Darwin

Borrower sought to refinance expiring private loan of $1.5m plus assist with development funding for another property development in the Darwin CBD; a total of $2.39m inclusive of one year’s capitalised interest.

Security is a vacant commercial site in the Darwin CBD, approximate 50% LVR.

Borrower is now free to hold the site until development timing is considered satisfactory whilst being able to continue with a pending project, also in Darwin.