The client, a high net worth individual, owned a portfolio of 20 residential properties with >$11 million in debt across major banks. The portfolio was in arrears for over 90 days, and the client also had unpaid tax debt. Cash flow had been severely impacted by a difficult divorce and the effects of COVID- 19, leading to a checkered credit history.
AMF arranged a refinance facility that took out all existing lending across the portfolio on a standalone basis. This structure allowed the client to sell down selected properties to reduce debt and retain surplus sale proceeds. The facility included capitalised interest for 18 months, giving the client breathing room to focus on business recovery and prepare financials for a future refinance with a mainstream lender.
