1. Borrower required bridging development site funding in Darwin

Borrower sought to refinance expiring Private loan $1.5m plus assist with Development funding for a further Property Development in Darwin CBD total $2.39m inclusive of oneyear’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 also being able to continue with a pending project also in Darwin.

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