Clients had completed approximately 95% of a residential extension and renovation project. Due to unforeseen weather conditions and labour shortages, the project experienced delays and cost overruns. The clients required an additional $1.5 million at short notice to complete the remaining 5% of the development.
AMF provided a short-term top-up facility of $1.5 million secured by a first mortgage over the property. This allowed the clients to complete the project without further delays, preserving the value of the near-complete development and enabling a timely exit strategy.
