Location: Seaforth, Sydney

Project Overview:

• 65% complete luxury duplex development experiencing construction delays
• No presales at time of equity release

Challenges Addressed by CPC:

• Lack of free developer cashflow to acquire the next site
• Project delays due to the builder progress had tied up the developers equity for longer than anticipated.
• Arranged finance mid project to allow an off market acquisition of their next project

Financial Solutions  by CPC:

• We introduced a reliable and flexible mezzanine lender to lend mid project
• These short term funds although seen as expense equity allowed buying the developers next site a a great price.
• Funding allowed a cash equity release for the client negating the delays to allow starting the new project before the current one was completed.
• We also arranged a bridging loan on the new property that converts to a construction loan once the approvals are in place.

Project Progress:

• The new project has commenced construction whilst the current project is still being completed
• This has allowed the developer to negate the delays and keep building their project pipeline.
• By securing the new site when the opportunity arose the developers have locked in considerably more profit by buying at the right time.