Bank funding $8.8m for 32 Townhouses with less than 25% Debt Cover

Being an expert ONLY in Development Finance can be like having the blinkers on, particularly if the Developer’s wider Group includes other income sources.

In this case, with the developer wishing to only have minimal pre-sales prior to commencing, the standard train of thought would have been that a non-bank lender would be the necessity.

However, based upon our Business & Corporate finance experience, STAC negotiated highly-favourable Pre-Sale terms with a Major Bank, by leveraging the strengths of the developer’s complex wider group business interests and investment assets.

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