A client sought to refinance a large development site in Melbourne with plans and permits issued. End value at completion expected to be ~$200m. Structure was complex with a development management agreement and tripartite agreement with the vendor meaning a mortgage was to be registered and funding provided prior to a sale being effected. Lender options were minimal.
AMF sourced a lender by clearly understanding the structure and being able to accurately articulate the weaknesses and mitigation. Focused on the experience and history of the developers, and their capability of being able to complete a development of this magnitude on time and budget.
