property type: Residential/Commercial
Total Property Value: $15,100,000
Loan Amount: $7,000,000
Priority: 1st mortgage
Note Interest Rate: 6.50%
Term (Months): 10
Term Remaining (Months): 4
Use of Funds: Other
Description: Refinance of a commercial loan.
Why do we like this loan?
This low LVR mortgage is over a highly marketable property, consisting of one of the largest single parcels of land 15 KMs south of Perth CBD, and comes with a Share Mortgage over the shares of the Egg distribution business.
Primary Property Value: $14,000,000
The main security property is a large 14-hectare parcel of land in Banjup, WA, with potential for development and subdivision although this future potential value is not calculated into the as-is value. On the property sits a 600 SQM residence, a local cafe and patisserie, and four modern industrial sheds.
A low LVR bridging Loan pending sale of assets to reduce the debt down to bank serviceability.