Case
Studies
20. Take out finance and hold stock
Developer completed a Land Division of 10 residential allotments in a Queensland regional centre.
Development finance was at a very high interest rate with profitability eroding due to a lengthy development process during Covid years. The Borrower was rejected finance by banks and alternate financiers due to the LVR and a lack of presales in the regional area.
Eastwood Securities Mortgage Fund was able to refinance the project and provide selling costs and interest with a $1.6mil loan. The Borrower was then able to sell allotments within his price bracket and time frame and repaid the Eastwood facility within the terms of that loan.
Eastwood Securities took a commonsense approach for a successful outcome for all parties.